What is network marketing? Network Marketing is just as it sounds: a marketing program employed by a business to increase product sales, that uses word of mouth recommendations, instead of alternatives such as TV commercials, direct mailing or emailing programs, internet ads… etc.
Network marketing is essentially a method used to market a company’s goods and/or services by compensating people for recommending their products to others through a sales commission program. This type of program is designed to be worked from home on the individual’s desired schedule.
Network Marketing has several conflicting reputations, depending on who you ask.
Many people don’t know anything about it. Some mistakenly compare it to a pyramid scheme. Some view the business model as “too good to be true.” Others view it as something with potential, however they either did not experience success with it in the past, or feel they won’t have success with it if they try. Some go on to make millions.
How does network marketing work?
Network marketing focuses on product referrals and recruiting bonuses. You, as a network marketer, are compensated sales commissions based on the amount you sell every month, just as you would in a traditional store setting.
If you choose to take on a trainee, you would also be compensated for teaching someone else to do the same by receiving a smaller commission based on your protégé’s sales, and even a few “generations” down the line.
This process is essentially duplication: teaching other people to duplicate what you are doing. By duplicating yourself multiple times (training multiple people to sell and train others) your marketing team grows. Over time and through your training efforts, those small commissions add up.
So, it seems too good to be true. Does it work?
Yes! This model does work. Don’t overwhelm yourself with myths and negative opinions found scattered throughout the Internet. Network marketing works so well that many businesses are implementing this marketing model and new millionaires are regularly developing all over the country.
Regardless when you sign up for a program like this, your success solely depends on the amount of effort you put into it and the attitude you carry with you.
What’s the catch? Is it worth my time?
Like everything else, it takes work. Network marketing is not some get rich quick scheme. It does, in fact, need time and effort. Everyone’s timeline is different, and should not be compared. However, no other business opportunity or job will afford you comparable income advancement opportunities. Where could you potentially double your paycheck every year? What about every month?
With the right amount of effort, that is realistically achievable through network marketing.
Building a network marketing business is absolutely worth the time, if you don’t quit before you find success. If you are regularly using the products you sell and are teaching your protegé’s to do the same (especially if your company has a recurring order program), you will find the perks of having a residual income. This income, when developed, may fluctuate month to month, but will last a lifetime. It’s an excellent plan B for if you or your spouse lose employment, want to retire, need to pay off debts, or anything else you could use extra monthly income for!
Which network marketing company do you use? Why?
After dabbling with a few different companies, I found my “home” with Essential Oils. I purposely sought out the team I signed up with because of their incredible supportive culture. They made me feel at home by embracing the same ideals I have about helping others increase their health and wellbeing by using truly natural products. Young Living has a seed to seal guarantee that made me very comfortable with using their products. The team I chose deeply promotes a climate throughout the ranks that embodies ethics, love, empowerment, and encouragement that completely resonated with me.
I’d love to hear your thoughts about network marketing in the comments below!
What do you think about network marketing? Have you ever considered or been involved in a network marketing company?
What if network marketing could be fun, while also honoring you, your family, and everyone you know?
Posts related to network marketing that you may enjoy reading:
- 25 clever ways to make money from home
- Why you should consider network marketing
- 25 mom’s share their tips to managing working from home with kids
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