An Introduction to Network Marketing Business

Nowadays, many young people are leaving their highly lucrative corporate and government jobs and turning into a new career choice, Network Marketing or Multilevel Marketing. It is not one of those “Get Rich Quick “ scheme but grants the marketer a lot of freedom in career, making it the hottest trends of the year.

What is Network Marketing?

Network marketing is a business model where a company employs individuals to market their products and these marketers earn a commission on the products they sell. The business is a highly lucrative one for the company as well as the individual. The company can save huge amounts of money on their advertisements as network marketing depends heavily on word of mouth to sell the products.

The company does not require a stipulated team for marketing and selling the products, thereby saving on the manpower costs. The network marketers on the other hand can work from their home, in the hours they want and be totally independent. There are numerous of Network Marketing Experts across the Globe.

Quite a deal, don’t you think?

How can you be a network marketer?

SELF DETERMINATION, COMMITMENT AND CONSISTENT ACTION

These three magic words determine the course of your future in network marketing business.

Let me break the bubble, not everyone gets rich in network marketing. Well, that is the case of any business, but there is only a small minority that gains a lot of wealth from network marketing business.

Have a quick glance at Top 200 MLM Earners in the Network Marketing Industry

The key is to be patient. Experts say that you need to be in the business for at least seven years to get a considerable income. What is observed in most cases is that people join the network marketing company with great zest and enthusiasm only to get the shock of their lives.

The income in the first couple of years is infinitesimal and people drop out of the network,disheartened. You have to build your network bit by bit in the initial years and then once it has reached a considerable volume, you can relax a bit and watch your earnings accumulate.

Be patient, do not quit!

Explore more to know the main reason why do people fail in Network Marketing?

Moreover, you should be careful not to fall for schemes that promises high returns right in the beginning. These companies might as well be after your money and once you make the initial investment, they might vanish with the money.

You should be careful while choosing the company you want to be a part of. You should be comfortable with their products and their payout schemes. If you don’t believe in the company and their products and services, you will never succeed.

Also, you should not quit your full time job as soon as you join the network. You should only leave your current job when you're sure that you can live a content life from your network marketing income.

Read more to know the Working of Network Marketing Business

How can you build your Network Marketing Business?

Well, you could find a million answers to this question. We have summarized the whole procedure into the following three steps.

#Step 1 : Finding the Right Company

• Investigate the companies.

• Look up for information on CEO and other company details.

• Question your recruiter on the commissions,bonuses etc.

• Read your contract carefully.

• Watch out for red flags.

• Draw up a business plan

#Step 2 : Start the Company

• Choose your right mentor. This would usually be the person who recruited you into the business.

• Study your products and know them well.

• Attending training sessions and meetings done by your parent company.

• Build new leads and follow up with them regularly.

#Step 3 : Build your business

• Recruit new members.

• Mentor your recruits effectively.

• Give your team members good commissions.

• Consult with professionals about expanding your business.

Know more How to succeed in Network Marketing Business?

What are the Investments and Returns Prospects?

Well, needless to say, the investments depends on the companies, their products and their affiliate marketing schemes. The initial investments can range from a few hundred dollars to a few thousand dollars.

The returns would depend upon the commission schemes adopted by the company.

In general, there can two mode of returns. You will earn profits proportional to the sales you do. Secondly, you will earn a fraction of the profits of the sales that your downline does.

The effect of the ratio of each of these profits on your total profits will depend upon the MLM Plan adopted by your company.

There are a number of MLM Plans in the market like the Binary Plan, Matrix Plan , Unilevel Plan, Stair step Plan, Hybrid Plan etc.

Design a perfect MLM Compensation Plan with leading MLM Software Providers

Which are the popular network marketing companies to begin with?

Choosing the right company is the most important factor that decides your career in network marketing business. You should be careful to do a background check on the company and how long it has been in business. This is important because, most of the companies does not survive the first decade in the business.

There are a lot of highly rewarding network marketing companies in the world.

Here is a list of my top choices.

• Amway

• Herbalife

• Tupperware

• Oriflame

• NuSkin

• USANA

• 4Life

• Melaleuca

The criteria for making the list above was diverse and totally non-specific. However one of the major criteria for ranking network marketing companies was the global revenue that the company makes per year, for obvious reasons.

Another major factor is the number of years the company has been in the business, as we discussed above. This is because thousands of network marketing companies commenced their business activities since the late 1960s but few of them managed to survive a decade in the business. The traffic of the company website as well as the number of countries in which the company operates have also been considered while evaluating the top MLM companies.

Conclusion

Network marketing business has seen a phenomenal rise since the past ten years.With the evolution of online sales and internet payments and transactions, people who join a network marketing business every minute. Some hope to work independently while others are looking for a secondary income.

If you have a passion for the network marketing business and a zeal to succeed, you can earn a handsome income in ways you would never imagine.

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