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What is Network Marketing or Multi-Level Marketing?
First off, let’s define Network Marketing (also known as Multi-Level Marketing – MLM). There are thousands of people joining MLM companies everyday to market a product or service and I am finding that some, which is surprising to me, do not understand that the industry that they are really in is that of Network Marketing or MLM.
Wikepedia defines Network Marketing as, “is a business-distribution model that allows a parent company to market its products directly to consumers by means of relationship referrals and direct selling.”
There are many resources, blogs, forums on this subject available on the internet, click here for one example. My advice would be not to rely on one source, do your research, there is good and bad information on this topic, so it’s up to you to do your due diligence prior to joining any network marketing venture. Also follow your gut instinct, if you are going to market a product or service make sure it’s one you believe in, will use yourself, and one that you will enjoy sharing with others!
Network Marketing’s Bad Reputation
Network Marketers or MLMer’s, sometimes get a bad rap because of the ‘untraditional’ marketing techniques that people peruse. I’m sure you heard of them, flyers posted on anything that can hold tape or push-pins, flyers on cars, handing business cards out to anyone with a pulse without regard to timing, you name it. I know I’ve been guilty of some myself!
Also, some people get involved in MLM’s to make a quick buck, not treating their opportunity as a real business, not realizing, it takes, time, money, perseverance and discipline to make it work, which is the case with any business. So when they quit, they say nothing but negative things, like, “it doesn’t work”, “it’s a scam”, “it’s a pyramid scheme”, “nobody makes money”, and on and on with endless excuses. We all know negative news spreads faster than positive news; hence the bad reputation of MLM’ers spreads like wild-fire.
There are some that may be dedicated at first, but the disconnect between their dream and their involvement with the opportunity gets lost, and the motivation dwindles (Authors, and expert marketers Joe Rubino & John Terhune, mentions this in their book, 15 Secrets Every Network Marketer Must Know, a must read for serious MLM’ers looking to become high-earners), so onlookers may see this as a not-so-good venture because they may perceive it as one that does not work.
I hate to hear people wine and complain about their financial situation, but when presenting them with an opportunity with unlimited earning potential, even if they are interested, they still come-up with every excuse in the book about why they can’t take advantage of what is being presented. Granted, MLM may not be for everyone, but if you are a true Entrepreneur or some one that is fed-up with being in the rat-race, chasing 3% raises, and not getting anywhere, yearning for a better life for yourself and/ or your family, then MLM is a great start to changing your situation!
What is the Real Potential of Network Marketing?
What I am about to explain exposes the real potential of Network Marketing. The potential is UNLIMITED! That is why I am writing this. There are many people, that just don’t get it!
MLM opportunities can generate Multiple Streams of income, if you are with a company that has a good system in place, you should at least be able to earn commissions on sales, bonuses, over-rides, and residual income streams. These forms of income combined can produce great wealth! And can lead you to financial freedom!
If you don’t understand the importance or power of having multiple income streams, I recommend you reading, Multiple Streams of Income, How to Generate A Lifetime of Unlimited Wealth, by Robert G Allen (he’s also the other of The One Minute Millionaire, another must read), and Rich Dad, Poor Dad’s Cashflow Quadrant, by Robert T. Kiyosaki (his books contain free downloadable bonus material that always proves to be helpful).
The best part of all, you can call the shots on how fast you achieve this great wealth! You don’t have to wait on yearly reviews or for job openings to post; it’s all up to you!
Also, unlike your traditional job where education, degrees, and the alphabet soup behind your names is everything to getting a promotion, in MLM you can move up as fast as you want without the educational credentials.
Sounds good, right? Well if you’re new to this concept you may ask, “What do I have to do?”, “How much time is required?”
Outside of having confidence in your company’s product, you are looking into or the company you are a part of now; hard work and ‘a don’t quit’ attitude is definitely required! You have to set-time to work at and market your business, set goals and work toward those goals. Always remember the reason why you decided to start MLM – know your dream or vision and use it to motivate you. Whether you peruse your MLM career part-time or full-time, it is up to you!
The First year in Network Marketing is said to be the hardest; in fact, MLM has a 97% attrition rate. Why so high? First, it’s for the reasons I said before people get involved to make a quick buck, not realizing that it is a real business that takes time, money, perseverance and self-discipline to make it a success. Second, people get overcome by fear, fear of doing something different or stepping out of their comfort zone. And third, they don’t possess the right attitude. Attitude is key! If you think negatively and surround your self with negative people, you will have negative results; if you think positive and surround yourself with positive people, it will show and you will yield positive results! It is that simple.
What are You Going to do with This Information?
Now that you have an overview of what MLM is, why it has a bad reputation, what the potential is, it is time to act on this information.
If you are with a company, you should feel great that you are in an industry that has unlimited potential. The choice is yours; do you what to be a part of the 97% or do you want to part of the 3%? If the latter is true, find ways to motivate yourself to action and propel your business forward. If you are not satisfied with the results your current product or service is generating for you, research other companies and find one that is more suited for you. Reach out to your upline or other successful leaders in your organization. Get involved in team meetings, company events conventions, etc.
In addition to your company’s system, find alternative marketing techniques to market your business, which I am ALWAYS doing. I have found Mike Dillards, 7 video Boot Camp series and building on a budget series about attraction and internet marketing techniques, to be a real asset to my team.
write by wilson