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Title: THE SECRETS OF HIGHLY EFFECTIVE NETWORKING
Author: Daegan Smith
Article:
We have come to observe the enormous growth of the network
marketing industry. It is manifested from the billions of people
who have participated in it, to the billions of dollars' worth
of goods and services that have been sold through it and by it.
But what is Network Marketing?
Network marketing (also networking/multi-level marketing) is an
industry made up of a chain of independent distributors, whose
tasks are to sell the company's products or services and at the
same time recruit more distributors who would likewise sell the
company's products or services. It is often called 'people's
franchise,' because the seemingly endless recruitment eventually
results to a hierarchical organization, which is also referred
to as a distributor's "downline".
In networking, each distributor earns: (1) commissions through
direct product sales, and (2) residual income from the sales of
the distributors in their downline. Bonuses may also be given
upon attaining specified sales levels.
Perhaps what makes network marketing appealing is that it is
generally conducted at home, and this greatly reduces the
operating costs that are incurred in the traditional business,
such as employee wages or office rent.
Although others have made fortunes in network marketing, a lot
of people find themselves unable to achieve any kind of success.
This is because while there are legitimate network marketing
plans, there also exists a great deal of illegal pyramid
schemes.
So what does it take to be successful in networking? First, we
must learn how to get started in a network marketing business:
Know the basics: evaluating a plan.
The reason why many people end up as failures and drop out of a
particular business enterprise is that they readily join a
program without having any idea what to do or, worse, what the
program really is all about.
Proper education about a particular business is necessary before
paying or signing a contract. Take the time to learn about the
network marketing opportunity, and take the time to think it
over. You may want to consult your family, friends, or lawyer
before making your decision.
In evaluating a particular business opportunity, consider the
following:
The Company
There are numerous network-marketing companies that flood the
market today, with more emerging at a faster rate. There is
always the risk of these companies' going out of business,
either through collapsing like a house of cards, or being forced
to shut down by law enforcement. This is why careful
consideration should be made in choosing a company.
Know the company's track record. Check with the local government
where the company is based (or the agency where the company is
registered) for lawsuits or any other records.
Also, choose a network marketing company that is known for its
integrity. Above all, the company should adhere to high moral
principles or professional standards, and should stand behind
their products or services. Talk to people who have had dealings
with the company. Beware, though, of shills - they are 'decoy'
references that make outrageous claims or exaggerations that are
in favor of the company.
The product
Know the products or services that the company sells. Ideal
products and/or services are those that are unique, are used by
the average person everyday, and are competitively priced. Be
cautious of 'miracle products' - there should be substantial
evidence/s that would back up their claims.
The key to an effective and successful networking is for
distributors to love their products. It is very easy to promote
products or services that you like and you personally use.
Capital
Remember that Network Marketing, like any other legitimate
business, is a real business. There will always be a "cost of
doing business"; be it in the form of training materials or
advertising.
Know how much investment is required to join the plan. Watch out
for the "something-for-nothing" promises, and beware of
companies that require you to purchase a "start-up-kit" of
expensive products and marketing materials - these may be
'pyramids in disguise.'
Compensation plan
The compensation plan, or payment system varies from one
networking company to another. It generally depends on the
distributor's volume of sales and his or her level in the
hierarchy structure. In other words, a distributor usually earns
commissions not only on their own sales but on the sales made by
people 'below them.'
Find out if there is a minimum monthly sales commitment that one
needs to reach in order to earn a commission. Watch out for
companies that offer more than 60% (of the list price) in
commissions - it will most likely be that the products are
overpriced, or that a distributor must keep up a specific quota
or sales volume.
The Sponsor
Another key to an effective networking is finding the right
sponsor who can provide you with the necessary support to help
you grow your business. A good sponsor should be able to know
what you need. He or she may not have all the answers but can
get the answers for you, or even work with you to solve a
problem and make the right decisions.
Training
Probably the most important attribute to be successful in
network marketing is proper training. The problem with most
companies that offer some form of training is that they urge
people to only follow their training program and not deviate
from the scripts found in the company brochures and flyers. A
good training should make it possible for you to have complete
control of your network marketing business.
Recruitment
Once you have joined a network marketing plan, the basic (and
crucial) task will be to gather customers for your products or
services. There should be more than enough 'new members' that
would contribute to your downline.
Bear in mind the importance of the people within your
organization. As their sponsor, it is important to build a
trusting relationship with them, training them, and provide them
with the information that they need.
Advertise
Network marketing would not thrive if not for advertising, the
most effective form of which is based on word of mouth.
There are various methods of "reaching" people and advertising
your products. Be it with a single phone call, fax, flyers,
posters, traditional newspaper ad, e-mail, thru the Internet, or
even a conversation with a friend, what is important is choosing
the form that works for you and that you are comfortable with.
Patience
The network marketing business has always been mistaken for a
"get-rich-quick" scheme. People do not seem to understand that
it takes time for a "Geometric Progression" of their income to
take place. It is unfortunate that most network marketers quit
within their first year, when the 'return on investment' for a
business model of this type usually takes 3-5 years!
Conclusion.
Networking is truly a genuine and feasible business. It is just
a matter of having an open mind and the necessary education to
minimize, if not prevent, losses for many participants.
It takes passion, commitment, and determination for a business
to flourish. But what it really takes for people to be highly
effective in networking is for them to have fun while doing it.
About the author:
Daegan Smith is the leader of the fastest growing team of
successful <a href="http://netmlmprofit.com">home business</a>
enterpernuers on the net. Find out how we're creating financial
freedom all across the globe and how to get in on the action
FREE at <a
href="http://www.comlev.net">http://www.comlev.net</a>
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