5 Network Marketing TipsPosted On:2016-04-21 Category: Network Marketing
Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses. Below are some of the best tips to help you succeed in the world of Network Marketing:
1.Practice what they teach.
In order to succeed you need to be willing to listen and learn from your mentors. The way this industry is structured, it's in the best interests of the veterans to help you succeed, so they're willing to teach you the system. Whatever your so called mentor did to become successful, it's very duplicatible, but you have to be willing to listen and be taught and follow those systems.
2.Don't quit your day(full time) job yet.
Never leave your full-time position unless you're absolutely certain that the income that's coming in with this company is going to be there. Its advisable to ensure that you've been with the company [for awhile] and that you know it's a stable company, and the income that you're earning is equal to or greater than the income you're earning from your job before quitting.
3.Taking care of business.
This is a business, and just like if you were running a franchise or a storefront, it is recommended to have an accountant. You have all the same write-offs tax-wise that you have with running a full-time business, so it's very important to do your research prior to getting involved, before you start making money from it. How is that going to affect you tax-wise? What are your write-offs?
It's important to set up a team around you. I'd suggest seeking out lawyers who deal in network marketing, so they're very versed in all the laws and how that affects [your business.]. There are also accountants who specialize in dealing with homebased businesses specifically in the direct-selling industry.
It can be called various things, but the general term is the "upline," meaning the people above you. How supportive are they? Do they call you? Do they help you put a plan in place? Are they as committed to your success as they are to their own? You should be able to relate to [the people in your upline] and be able to call them at any time to say "I need some help." How much support there is from the people above you in the company is very important.
5.Take up the lead with your downline.
There's a term in the network marketing industry called "orphans"--when somebody is brought in and then the person who brought them in is just so busy bringing in other people that they don't spend the time to teach and train [the new person]. You should be prepared to spend at least 30 days helping a new person come into the industry--training them, supporting them and holding their hand until they feel confident to be able to go off on their own. You really need to ask yourself, are you willing to do that? Are you able to do that? This is really about long-term relationship building. It's not about just bringing people into the business and just moving forward. It's about working with these people and helping them to develop relationships.