What is Network Marketing or Multilevel Marketing?
First of all, let’s define Network Marketing (also known as Multi-Level Marketing – MLM). There are thousands of people who join MLM companies every day to market a product or service and I find that some, surprisingly to me, don’t understand that the industry they are really in is Network Marketing or MLM.
Wikipedia defines Network Marketing as “a business distribution model that allows a parent company to market its products directly to consumers through relationship referrals and direct selling.”
There are many resources, blogs, forums on this topic available on the internet, click here for an example. My advice would be to not trust a single source, do your research, there is good and bad information on this subject so it is up to you to do your due diligence before joining any network marketing company. Also go with your gut, if you’re going to market a product or service, make sure it’s one you believe in, use yourself, and enjoy sharing with others.
The bad reputation of network marketing
Network Marketers, or MLMers, sometimes get a bad rap because of the ‘non-traditional’ marketing techniques that people use. I’m sure you’ve heard of them, flyers attached to anything that might contain tape or thumbtacks, flyers in cars, business cards handed out to anyone with a pulse regardless of the weather, you name it. I know I’ve been guilty of a few myself!
Also, some people get into MLM to make a quick buck, without treating their opportunity like a real business, not realizing that it takes time, money, perseverance, and discipline to make it work, which is the case with any business. So when they quit, they just say negative things, like “it doesn’t work”, “it’s a scam”, “it’s a pyramid scheme”, “nobody makes any money” and so on with endless excuses. We all know that negative news spreads faster than positive news; therefore, the bad reputation of MLM’ers is spreading like wildfire.
There are some who can be dedicated at first, but the disconnect between their dream and their participation in the opportunity is lost and motivation wanes (authors and marketing experts Joe Rubino and John Terhune mention this in their book, 15 Secrets Every). Network Marketer Must Know, a must-read for serious MLM members looking to become high income earners), so viewers may see this as a not-so-great company because they may perceive it as not working.
I hate hearing people complain about their financial situation, but when I present them with an opportunity with unlimited earning potential, even if they’re interested, they keep making every excuse in the book for why they can’t take advantage of it. of what is being presented. Of course, MLM may not be for everyone, but if you are a true entrepreneur or someone who is sick of being in the rat race, chasing 3% raises and getting nowhere, longing for a better life for yourself and/or or your family, then MLM is a great start to change your situation.
What is the real potential of network marketing?
What I am going to explain exposes the true potential of Network Marketing. The potential is UNLIMITED! That’s why I’m writing this. Lots of people 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, overrides and residual income streams. These forms of income combined can produce great wealth! And it can lead you to financial freedom!
If you don’t understand the importance or power of having multiple streams of income, I recommend reading Multiple Streams of Income, How to Generate A Lifetime of Unlimited Wealth, by Robert G Allen (also the other from The One Minute Millionaire, another read required), and Rich Dad, Poor Dad’s Cashflow Quadrant, by Robert T. Kiyosaki (his books contain free downloadable material that is always helpful).
The best part of all is that you get to decide how quickly you achieve this great wealth! You don’t have to wait for annual reviews or job postings to post; everything depends on you!
Also, unlike your traditional job where education, degrees, and the alphabet soup behind your names are everything to get you a promotion, in MLM you can move up as fast as you want without educational credentials.
Sounds good right? Well, if you are new to this concept, you can ask: “What do I have to do?”, “How much time does it take?”
In addition to being confident in your company’s product, you are doing research or the company you are a part of now; Hard work and a ‘don’t quit’ attitude are definitely required! You need to set a time to work and market your business, set goals and work towards those goals. Always remember the reason you decided to start MLM – know your dream or vision and use it to motivate you. Whether you’re looking into your MLM career part-time or full-time, it’s up to you!
It is said that the first year in Network Marketing is the most difficult; in fact, MLM has a 97% attrition rate. Why so high? First, it is for the reasons I stated before that people get involved to make a quick buck, not realizing that it is a real business that requires time, money, perseverance, and self-discipline to be successful. Second, people are overcome with fear, the fear of doing something different or of stepping out of their comfort zone. And third, they don’t have the right attitude. Attitude is key! If you think negatively and surround yourself with negative people, you will have negative results; If you think positive and surround yourself with positive people, it will show and you will get positive results! It’s that easy.
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 is the potential, it’s time to act on this information.
If you’re with a company, you should feel good about being in an industry that has unlimited potential. The choice is yours; Do you want to be part of the 97% or do you want to be part of the 3%? If the latter is true, look for ways to motivate yourself to action and boost your business. If you are not satisfied with the results that your current product or service is generating for you, research other companies and find one that is a better fit for you. Contact your upline or other successful leaders in your organization. Get involved in team meetings, company events conventions, etc.
In addition to your business 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 a Budget Series on Internet Marketing and Attraction Techniques to be a true asset to my team.
