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Posts Tagged ‘Network Marketing’

A lot of people are down on network marketing businesses (also know as multi-level marketing or MLM), but I’d like to give you 7 reasons why a network marketing business is the best kind of business to own.

1. Your chances for success are better in network marketing.

Yes, some people fail at it. In MLM or network marketing, you will often find that 20% of the people are making 80% of the money. Do you know what? That is exactly the same as the church I belong to– 20% of the people who attend are actively involved and do 80% of the work that needs to be done.

I’m not surprised that it is similar in MLM. People are people. Some of the people who fail at network marketing are not motivated, some aren’t cut out for self employment, some are in the wrong company for them, and some are just not properly trained. But a motivated and trained person in a good company has a great chance of succeeding in their business.

On the other hand, if you start a “traditional” business your odds of success are much lower. According to the SBA, at least 50% of small businesses fail in their first year and 95% fail within the first five years. So, after 5 years of 12 hour days, in debt up to your eyeballs, you only have a 5% chance of succeeding. For some reason that just doesn’t do it for me.

2. The costs are much less to get into a network marketing business.

Most network marketing companies ask for a monthly minimum order to keep an active distributor status, it is true. This is part of what keeps the machine running. It is part of the business operating costs. It may be as much as $100, depending on the company.
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One of the things I encourage people to do when they start out online is to quickly create a plan of what they want to achieve. A vision for your business is better, but not everyone is ready for a vision. Even a plan for the next six months will help you to focus on what you want to get done.

The internet offers an opportunity to reach a wide market if you are effective, and your “shop” never has to close. It will be open 24 hours a day, 7 days a week to anyone that chooses to visit.

Not only is the potential for customers huge, but the number of areas you can focus on online is also huge, and whilst I will not be covering them all in this article I wanted to give you a flavor of some of the things you can do.

Affiliate Marketing – This involves you selling the products of a supplier. Its one of the more popular things to do when you start out online because you don’t need your own product, and many affiliates don’t own their own website.

When you sell goods on behalf of a supplier they give you a commission based fee – which varies but can be anything from 5% to 75% of the total cost of the product.

It makes for a great start because they take care of all the customer service and delivery of the product. The downside of affiliate marketing is the fact that you never earn as much as someone who actually owns the product.

Info-preneuring or Information Products – Information products are amongst some of the greatest products currently churning out money online. And anyone can create an information product. Imagine you know how to build a pond from scratch. That already makes you a lot more knowledgeable than me -the only thing I know about ponds is that they look great in my garden!
Maybe one person in a thousand will want to know how to build the kind of pond you know how to build.

Offline you can write a book about it but not many publishers will want to publish it (although there is self-publishing now!). because for a publishing company it’s just not worth the marketing.

On the internet though, one person in a thousand gives you a potential market of 340,000 customers. If you write a book and sell it online for just $10 per copy you could make as much as $3,400,000. All you have to do is tell people what you know-and tell them it’s out there. And that costs next to nothing.
If you love writing, or if you have work that you have tried to get published and failed, this may be a great alternative for you.

Niche Marketing – Now you have your information product on how to build a pond, this is called a niche market. You are not talking about knitting, or how to improve your golf swing so you will not want to market to those people.
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Ok, you have scoured the internet for a business opportunity that is going to make you that dream income. You know it’s out there; you just need to find it. But which ones are good and which ones are bad? How do you know? What are the signs to success with a home business?

No matter where you go on the World Wide Web, everyone seems to say “I have found what is going to make you successful”. But without some extensive research and a little insight on how the whole web thing works you just might find yourself loosing a lot of money and time. I mean do these people actually think we are going to put trust in something or someone that promises me to be making 10,000 dollars the first month in business?

That’s a little far fetched if you ask me. No doubt, in some really rare instances it has happened but could it really happen to you? In my years of trial and error, I have found that it does not happen over night and you do have to put in effort to get paid for it. So that seems to help you weed out a few thousand opportunities. So, what next?

For one it would be good to ask “how long has the company been in business?” I know there are companies out there that haven’t been around long and you would just have to take a gamble that they are all they say they are, but there are some other ways to “test” them. One thing to look for: Do they provide a phone number for you to contact them? This may sound simple, but just do a little research for yourself and see how many actually provide you with a number! And yes some will give a number but you can never talk to a real person. It does make a huge difference.

Next, what about the product? How big is the market for it? Is it consumable? Is it a product you can believe in and truly “love” to share with others? These are some great questions show the “signs to success”. First of all let’s say you find a product that everyone is buying and it is consumable (which means it can be used up and orders will need to be repeated) ok you seem to have found it, but you decide that I don’t really like it myself but since there is such a huge market for it and it’s consumable I think I can do this. Do you really think you can sell something you don’t truly love? I have tried it already and it made me hate the opportunity I was in just like having a job I hated! Who wants that? So finding something you feel good about promoting is a very good “sign” to look for.

Ok now you have found your perfect company with a perfect product. Now what? Another good thing to check for is the cost to become a member of that opportunity. I know the old saying: “you get what you pay for” and while that does ring true in so many cases, it’s not always the case in this business. For instance, I paid $3,500 to join a business and they didn’t even provide a product! I had to find one for myself! You would think it would have been a great opportunity since it cost so much but not in that case! I found one that was free to join and the company disappeared after I first looked into it. So it can really be a matter of investigating the company further.
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I personally believe we do a dis-service to the industry and ourselves if we openly state…or even allude…that NWM is easy. It’s not. Nor is any business….WAH or brick & mortar. Anyone who does say different is not being wholly truthful. I find that to be a shame.

NWM requires 3 main ingredients….time, effort, and yes – money. Time is just a matter of redirecting your habits. Not easy but doable. Time directly impacts your efficiency. Effort is entirely controllable by the individual….and directly impacts your effectiveness. Money is self limiting and directly affects both efficiency and effectiveness. An individual must find the best combination of the three that works for them. Someone else can’t tell you what that combination is….but can help you find it (for example a good sponsor).

The new mlmer faces a daunting task…and competition…when it comes to “advertising”. Finding that “best combination” of time, effort, and money is a growth experience. Rarely will it just appear… education (self and provided) plus mentoring (if available) are important factors and hopefully a fact of life. However, “advertising” is not impossible.

In my mind advertising is just whatever method you choose to “reach” people. It might be the traditional newspaper or ezine ad or the simple greeting and sharing with a friend. How you “advertise” or “share” can take many forms.
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