My favorite business model would have to be Network Marketing, why?Because it has a unique way of using leverage to explode business growth, plus it’s esy to understand
So what exactly is Network Marketing? I’m glad you asked. Basically it’s a business model based on multiple levels of marketing through a team of people sometimes numbering in the thousands. There is usually an in-demand core product (sometimes more) and a marketing system for promotion.
Usually the person who spponsored you will see to it that you get quality training. Sometimes this does not happen. Don’t worry if your sponsor is no where to be found, because there will always be someone up-line from your sponsor who will be more than happy to help.
Once you have learned the ropes you will then train the people that you sponsor into your business. Why all this training? It’s because of the power of leverage that is produced by all the team members. You see, the network marketing company you join will not only pay you commissions for the sales you make but also for all the sales your team makes. Don’t worry if you don’t like to sell to people because this is not a direct selling business. Every product sold in network marketing is sold through the system, and that means you don’t sell anything yourself.
There are 2 primary functions in Multi Level Marketing:
1) Marketing
2) Team building
When it comes to advertising the primary thing you will advertise is yourself. I know this may sound strange to some of you but it’s true. You see, when it comes to the network marketing business model people tend to join people not their business. What I mean is that if people can perceive value in you first, they will most likely join you in business. This is why it’s so important to learn your particular system so you can train others. If you can help others get started in their new business you are offering real value and people will be attracted to you as a leader and join your business.
So how do you advertise yourself? The best way is simply blogging on a regular basis. Just about everyone on this planet knows what a blog is, and savvy marketers are using them to offer value to people. You don’t have to be a journalist to blog either, just write on your experience, or anything that might help someone solve a problem.
Secondly you will advertise your product. I won’t go into detail here because marketing the product is primarily done through the companies system, and if the company is a good one this will be done very thoroughly. For example, Global NPN has an excellent marketing system that I’m currently using to generate around 3-5 business leads per day. Now that’s not too bad considering it’s practically running on auto pilot. This is really easy to do as well.
2) Team building is simply where you train your affiliates to do as you are doing, this is called duplication and it’s the power behind mlm. Building you team begins with offering your newly sponsored affiliates a helping hand to get started. It could be as simple as emailing answers to any questions they have. A friendly word of warning here, if you have offered to answer emails within a certain time frame make sure you do even if you don’t have the answer. Just tell them you don’t have the answer but you will either find one or someone who does. Your credibility will be destroyed really quick if you don’t do what you’ve promised.
When considering starting up a network marketing business it’s import to remember that this particular business model requires time to produce a significant income. You must treat it like an investment that increases over time, but usually a lot quicker than traditional stock market investing. If you and your affiliates follow the marketing blue print to the letter, your business could potentially replace your annual income within 1-2 years.
Now that’s something to get exited about.
Paul
