If you are considering a network marketing opportunity there are some things you will need to consider before you jump in if you expect some form of success. To put it bluntly success is never automatic; NEVER. Did I say never yet?? The first thing although it may not be the most important thing is choosing a viable opportunity. The next thing is understanding the basic principles of network marketing especially when it follows a multi-level m and the last and probably least considered is duplication. I will cover all those topics and provide you some valuable insight in the process.
Sometimes it is very difficult to choose an opportunity from the vast ocean of opportunities and new ones coming in with every wave. Just remember there always comes an ebb tide and many of those opportunities go back into the ocean with it. Here is my rule of thumb on choosing an opportunity also known as my list of things to avoid like the plague:
1. Avoid opportunities that promise success overnight
2. Avoid opportunities that promise success without selling
3. Avoid opportunities that promise success without work
4. Avoid opportunities that promise success without an investment
5. Avoid opportunities with products or services you will not use yourself
6. Avoid opportunities with no residual income potential as an integral part
The main reason for this is that you should not trust anyone or any opportunity that is not upfront with you on what is really involved in being successful. You do not need promises when searching for an opportunity you need “FACTS” and don’t settle for anything less. I only tell you this because there are many great opportunities out there and they often get a bad rap due to the unfulfilled promises of the unscrupulous marketers out there. So exactly what is network marketing and how does it work or more importantly how do you make money with it?
Network marketing is almost synonymous now-a-days with multi-level marketing. Probably the major difference is that you not only develop your own team but you teach your team to develop their own team and so on. Here is a short synopsis of the process. It begins with you joining the opportunity getting some form of training on the product and perhaps resources available for its promotion. Next you promote it via some form of advertising to make sales and earn an income. The income you make will be in direct proportion to the number of sales you make. For example if you are selling a $25.00 product and you make 100 sales you will earn $2500.oo. Sounds great doesn’t it and if we left it at that many would probably trip on their own feet to get into the opportunity.
Here is the problem; there is no guarantee that you will make the same amount of sales the next month. What happens is with all the marketers promoting the same opportunity using the company marketing materials leads to a saturation of the market. It does not take long before your advertising fails to produce the same results you enjoyed at the beginning. This is one thing that is not always explained very well in my opinion and neither is the effort it takes to make sales in the long term. To be successful in network marketing you need to at some point create some residual income by building a team that makes sales and creates teams below them who also make sales. You in turn get a portion of their commissions.
For example say you sell to 5 people now you need those 5 people to each sell to 5 people as far down as you can go. You can probably now grasp the notion that it is not an easy feat to accomplish. What prevents most from success is that when they finally realize the futility in doing this they just up and quit. Attrition then becomes the main culprit in your failed attempt at success. Therefore it follows that you will need to understand how to deal with attrition to be successful. Attrition is an inevitable part of network marketing but you do not have to let it ruin your business. Never focus on the attrition focus on your new sign-ups instead. Once you understand why it happens you can mitigate the effects by doing one thing.
To keep it simple we will just call that one thing duplication. What this means is that you need to make if possible for the folks who sign up under you to duplicate your results. The first few weeks after sign-up are critical to new members as this is where they are most vulnerable to quitting. Remember this; if you are not prospecting; your team is not prospecting. If you are not investing in your business your team will not invest in theirs. If you are only working 2 hours a day your team will work 2 hours a day. If you are not totally committed to success your team will not be totally committed to success. In other words with rare exceptions your team will match your behavior. As a sponsor you are by default a team leader and your role is that of a mentor and coach to your team and none of these can be accomplished without some form of communication. They look up to you to lead them and help them achieve success and let’s not forget your own success hinges on theirs.
The solution is intuitive, you need to be modeling the behavior you expect your team to adopt by being the hardest working man in your team and you need to convey this behavior to your team. Start out by setting the expectations for your team and this is where you need to be brutally honest. Follow this by laying out the foundation that will enable your team to duplicate your results. Let your team know what you expect from them and don’t be afraid of hurting any feelings as they need to understand you are serious about your business. This approach will resonate with those that are serious about their business and ultimately their success. You need to understand clearly that attrition will happen so if you know up front there are members who are not serious then your do not want to waste your time supporting them. You need to focus your efforts on two things and two things only. One is prospecting and getting sign-ups consistently and the other is supporting the team members you expect will duplicate your results and turn them into team leaders. If you continue signing up individuals and weeding out those not serious about the opportunity it won’t be long before your team explodes.
My goal is your success