What Makes You Successful in Network Marketing?

When I was in Malaysia conducting many hotel presentations for my home business with a network marketing company, I received many similar questions about "What is your killer product?". Not products that can kill you, of course. What they meant was, show them a product that would cure cancer, for example, such that every cancer patient in the world would be lined up at their doorstep, willing to pay every penny they own in return.

I don't have such products and believe there is no such a magic pill at the moment. However, I have very high quality degenerative disease prevention products.

People who want financial freedom spend their time endlessly researching various opportunities, companies, products and the compensation plans. While this is important, it is done in an incorrect order.

If you want to guarantee your success with USANA, Manatech, Herbalife, Agel, Xango, Synergy or any other network marketing company, there are only three essential factors to consider, each in its correct order.

Factor # 1: Make A Decision To Commit

Whether or not you have drive and desire will primarily decide your success.

You need to commit for the long term in building a network marketing business. Understanding that network marketing is a business model designed to accrue value and net worth over time is important.

Our bookshops are filled with books by the richest, most influential and successful people of our time teaching you how to get rich. Believe me, all of them have invested in themselves and made sacrifices to get to where they are today. They don't mention it because either they forgot all about it for it has happened some time ago or they think that it is just common knowledge. If you've studied any successful entrepreneur, you'll see that they worked harder than anyone. Regardless of what anyone tells you or what you believe, you'll have to do the same. There are no hand-outs.

That doesn't mean you won't make a substantial amount of money in a short period of time. You can very well do that.

Then, why is it that most people continue to be slaves for money working 70 hours per week?

Do you know that most of us were conditioned to believe that if we went to school and got an education, we would get a job in our chosen field, work for 40 years, climb the ladder of success, and then retire in comfort? How nice?

Unfortunately, that is not how it usually works out nowadays. So, you better be the first to start in your generation so that you can either share or leave this legacy to your kids. You can lead them to a better position to look after themselves and their future families.

On the other hand, there is no such thing as a 'get rich quick' scheme or rewards without effort. If you come across one, it is most likely a scam. At the minimum, you still need to play a part in bringing your customers to the pool and they must purchase something in order for you to earn the money. This is just a fact of life. Revenue is generated when a sale is made and you get commission based on sales.

Are you looking for a hand out in your network marketing business? Deep down inside, are you hoping someone or some system will do all the work for you? If you are, then let me save you loads of time and money and plead with you not to start a network marketing business.

Don't let anyone fool you into thinking network marketing is a get rich quick program. It is not. It takes time to build up a passive residual income.

More than any other business, network marketing is a relationship business. Therefore, we are working with people all the time. People are unpredictable. We don't know who will put in effort and duplicate and who will not. This is why most companies talk about network marketing as a numbers game. You have to recruit enough people until you have some coachable business builders who will expand your business.

Does this sound like get rich quick scheme?

Thus, building a stable residual income stream takes time, consistence, persistence and patience to enjoy the time and financial freedom you are seeking. You are in for long haul.

That is why your 'WHY' is so important. How bad do you want this? Why do you want it?

Too many people join my team saying "I'll give USANA a go". I have learnt to turn these bad eggs down because they are wasting my time which I can never gain back.

Do yourself a favor. If you're planning to just try network marketing, you may as well not start. Also,in this business it takes the tenacity and professionalism to earn the six figure income. You have already decided the outcome by having little faith in yourself and unwilling to put all the time you got left to learn the business. Mind you most people lack of self-confidence when they start but because of their 'Why' which gives them the determination to learn to move forward.

Do you know your 'WHY'? You must expect success. Make a decision that financial freedom is something you deserve and you will do whatever it takes to get it. Whatever skills you lack, you're going to learn and each time you fall you'll try again.

Factor # 2:

Partner Up With The Best Leadership and Marketing Team

If you have integrity, you will commit to your dream. But how will you get there?

Honestly, this is not a million dollar question. Lots of people have come through successful. The formula is well-known but the ways to apply the formula can vary.

There is no point going to Uncle Bob who works hard all his life to ask for advice on how to get rich. He doesn't know the formula. If he did, he would be financially free too.

Warren Buffet and Randy Gage who are both very successful people in their arena, said "Never ask for financial advice from broke people". Personally I think it is an excellent piece of advice.

You need to find a team of network marketers who have achieved financial freedom for themselves and learn their ways of the success formula. So partner up with someone successful who has the result you want.

It is leadership and marketing that sell products and build down lines. Thus, it is important to ensure that there is a simple system in place that gets you earning money early on. Be careful here, many leaders use the company business development system alone with their new associates. Their system consists of contracting everyone you know and when you finish talking to them, they encourage you to buy cold leads at $5-$20 a lead, pass out flyers, advertise on local newspapers, hang signposts, do mailbox drops, etc.

These methods can work but they are costly and time consuming. Most new associates spend themselves out of business before they could learn new skills. But hey, if that is something you want to do, its alright.

Otherwise, make sure you ask the leader what kind of system they have in place to generate leads and what it will cost you. I highly recommend joining a team that is internet savvy and uses both the traditional and internet-based marketing models to generate leads.

Factor # 3: Choose the Right Company

Notice this is the least important factor. You could have an excellent product, the best compensation plan, the cheapest startup cost, no monthly volume requirements and etc but if you don't work with a team who know how to market, you will have to learn on your own.

Let's face it, working from home takes discipline. It takes getting off your butt and taking action even if you don't earn a paycheck today. It takes seeing the bigger vision of where you are heading and having faith to stay the course. It is pretty hard to work on your own especially most compensation plans in network marketing work best with team effort. Not only that, your willpower as an entrepreneur in the beginning may not withstand many challenges that you are going to face in any business. Hence, you do need team support and proven strategic marketing plan to execute.

When considering a company to partner with, remember the money you make comes from sales commissions until you attain a certain membership title level.Then you are entitled to receive leadership bonuses in addition to your sales commissions. Until that time comes, focus on how attainable you are able to make sales and not waste your effort down the track.

There are hundreds of network marketing companies out there. How do you separate a winning network marketing company from the rest?

Here are a few tips to help you judge opportunities and choose the right network marketing business for you.

Financial stability:
You should look for a financially stable network marketing company that has been in business for at least five years. Network marketing companies, like all new companies, have a high business failure rate in the first couple of years of operation. If they are still in business after five years, chances are they will be in business for a long time to come.

One way to be more certain of a network marketing company's financial situation is to select a publicly traded company. They have to disclose their financial details to their national regulatory authority on a regular basis. You'll be able to review their financial statements and quarterly earnings reports so that you can judge their financial stability. Remember, if you are going to get paid, the network marketing company needs to be solvent!

The right product or service:
What kind of products or services is the network marketing company offering? To successfully sell a product it needs to have its own unique selling point and be something that you would use and believe in. For example, there's no point in joining a networking marketing company which specializes in car products and you are not interested in those products.

Make sure that the products and services offered are something that a large proportion of the public needs or will want to purchase repeatedly month in and month out. For you to earn money there must to be a good ongoing market in a growing industry for your product. The best products are those that are consumed or used up, because they generate repeat sales. Ensure that similar items are not available in retail stores. There's no strong reason for anyone to buy products from a network marketing company if they aren't unique or better in some way.

The right marketing system:
Examine the network marketing company's marketing strategies. Do you have to sell items door-to-door? Does the network marketing company have high quality marketing materials that are good value for money? Are you permitted to generate leads through internet marketing?

Some network marketing businesses have developed a system and tools you can use to generate sales. These can include simple ads, catalogues and the internet. They're far more time efficient and less draining than the hard slog of door knocking, or contacting every acquaintance in your address book.

In summary, if you have the discipline to grow, learn, and not quit, you will succeed. Isn't this true with anything else in life? No one is going to create success for you. No system is going to create success for you. You are the only one who can work with a system to create success in your life.

Article Source: http://www.dummiesguideto.com

Jackie Khor is a leader in Network Marketing. She is best known for her down-to-earth, no-nonsense training. Get your FREE 10-Day email Boot Camp on at WorkAtHomeBusiness Blog Attraction Marketing Check out at Set up home business on the net

Please Rate this Article

Not yet Rated