For anyone who wants to make some extra money in their spare time, there are few more lucrative opportunities than network marketing.
There are plenty of false ideas surrounding the notion of network marketing. But running this kind of business can actually prove to be one of the best uses of your time.
However, it is vital that you know how to make the most of it. Otherwise, you might find that it doesn’t quite go to plan. With that in mind, let’s take a look at some of the best advice for being successful in this kind of venture.
Build Strong Support Systems
It goes without saying that your core team is the most important ingredient in the whole affair. However, your support cannot stop with those directly around you.
Though you might have superb products and a great management team, you need something more. If you don’t have a proper support system in place from the beginning, then it is unlikely that any of that will matter too much.
That support system for your network marketing opportunity should come in the form of your sponsor and the training they will be providing you. But, also look to other team members that have had success that are willing to assist you in getting started and getting your business profitable quickly.
Make sure your business has a real, actionable plan for building your business and one or more mentors that you can go to while developing that plan. Also, building a network marketing business is a long term endeavor, and things won’t always go as planned. You need to have people you can rely on who can help you right your ship in those situations.
Don’t Forget The Basics of Network Marketing
It can be all too easy to get caught up on the more exciting side of doing business. With this kind of opportunity in particular, the prospect of it can be more interesting than the actual business side, which is a lot of really hard work.
However, that doesn’t mean that you can forget about the latter. If you want the business to succeed in the long run, you can’t forget the basics.
Think about the smallest details, right from the very beginning. You may need a merchant services account to process payments, but in most instances, the company you are involved with will provide online payment options for your customers. But, if you are going to do home parties or business shows, having a way to take payments is something you will need to establish.
You will need a way to spread your message online. You will need a business account to operate from, making it easier at the end of the year to keep your business and personal expenses separated for tax purposes. All of this is vital to ensure your business can operate properly.
It’s All About People
With all of the focus on the business side of things, it can be easy to lose the heart of it all.
But whatever you do, you should take care not to forget the human side to all this. Ultimately, it is all about people.
Making connections, persuasion, building real human relationships with your clients. All of this is necessary for a strong foundation, and you should work hard to make it so from day one.
Look for networking opportunities, such as those that can be found joining Meet Up groups. Find groups that relate to your business and then get to as many meetings as possible to build relationships.
The old school way of network marketing, where it was all done face to face, still works, but don’t ignore the ability to connect to people in large numbers online. One of the best ways to connect, present and recruit people to your network marketing business in large numbers is by hosting webinars.
Webinars allow you to present, just as you would in a hotel meeting room for example, but all attendees can view your presentation from the comfort of home, and you don’t have the expense of renting space to hold the meeting.
If you are interested in learning how to attract leads, sign ups and sales through webinars, I suggest you check out my favorite mentor, Kate McShea’s, free four part video series where she walks you through doing just that.
Invest More Time Than Money
It goes without saying that you need to invest your cash into this kind of venture. Network marketing does not work without some capital behind it.
But don’t get too caught up in the finances – not at first, at least. If you want your business to have a good foundation to work from, you should pay at least as much attention to your time than your bank account.
Investing more time than money is a fantastic way of ensuring that your business model is actually viable.
What’s more, it will help hurtle your business towards success even faster.
Selecting a Network Marketing Company
So, now that we’ve talked about the basics of doing network marketing right, how do you select the company and opportunity that is right for you? There are some indicators that must be checked off before you sign on with a network marketing company.
- Products must be consumable, preferably on a short term basis, say monthly, in order to create a residual income that pays you over and over for work you’ve done once. Health supplements are a perfect example.
- Your opportunity should be within a growing trend with a large population. I will again use the example of health supplements because of the large number of baby boomers who continue to retire in large numbers and are not happy with aging. They have the money to spend and are happy to spend it on staying healthy.
- The company should have a large, diversified product line, preferably with multiple brands, allowing you concentrate on one specific product line if you wish, or a number of lines that compliment each other.
- The company should be established, but positioned for long term growth, with a highly qualified leadership team.
- Finally, you want to select an opportunity that has a solid, fair and highly lucrative compensation plan.
When it comes to network marketing companies there is one thing that many don’t realize. Inside the contract you sign is wording that allows the company to dissolve distributorships for the smallest of reasons, or take the company to a more traditional marketing method, eliminating all distributorships.
How would you like to build a very large business, create a substantial monthly residual income, only to have it taken away overnight? This is the reason why I chose ARIIX as my network marketing partner.
The ARIIX Bill of Rights, the only one in the network marketing industry, protects distributors in the following ways:
Legal Protection for your business
Your policies & procedures can’t change without your acceptance
ARIIX won’t leave the network marketing channel
If you want to know more about ARIIX, just CLICK HERE! And, feel free to contact me if you have questions. I’m always happy to help.