There are many different names for network marketers; “social entrepreneur”, “relationship marketer”, “online marketer”, or “network marketing professional.” (Whichever you prefer?) There are also a lot of misconceptions about our industry. My goal, with this blog post, is to educate and inform those who are open to learning more about the network marketing profession.
Let’s start with what we do:
Network Marketers recommend products to others they may find beneficial, desirable, and evoke positive emotional & physical experiences. A great product awakens the natural tendencies for a customer to “tell”, or “share” their results with others. “Referral marketing”, (also known as word of mouth advertising) has been proven to be one of the most effective sources of advertising today. It is possible to build a large network of customers, sharers, and promoters by partnering with the right company. You can create a powerful partnership when you find a company that: has already done the scientific research to formulate desirable products, has created informative websites, developed user friendly marketing tools, initiated a strong duplication training system, and provides ongoing customer support.
When a customer places an order, a percentage of the sale is paid out in the form of a commission to the referring “sponsor”. Subsequently, when anyone else on your team orders product, it generates “Commissionable volume” (CV). This multi-tiered compensation model can lead to a “residual” income stream. This allows for network marketers to earn a little bit of money, off a lot of people, who are doing just a little bit. (Consuming and Sharing) This “leveraged” income model gives someone, who may only have a few hours per week to commit to a business, an opportunity to still see great results. This is contrary to what most people are accustomed to, which is a linear style of income. This is where an employee exchanges a unit – or specific measure of time, for a set wage. Most financial experts agree, building up passive, residual income steams, is the key to building true wealth.
As a side note, My wife and I have used our Network Marketing business to teach our children leadership, entrepreneurial skills, and to go after their dreams. The personal development, mindset coaching, and positive work environment has impacted all areas of our life, for the better! This industry has given us a platform to positively impact tens of thousands of entrepreneurs around the world. It has also served as a springboard to launch our speaking, coaching, and consulting company, Entrepreneur Life, Inc.
What we don’t do:
Many people choose not to get involved in the direct sales industry because they don’t like sales. And while someone purchasing a product is the driving force of the model, “selling” in the traditional sense, is not required. In fact, those who bring their salesmanship skills to this industry, typically don’t last. The most successful networkers are always the best educators, not the best “closers”. (Thats why teachers are so great at this business) The main responsibility of a networker is to use third party tools to educate and inform, and to help prospects make a well informed decision.
We are not in the business of selling, convincing, pressuring or begging people to join our business.
We do not try to “sell” our friends, family, or colleagues products or services. Personally speaking, Summer and I have enjoyed a great deal of success with a “Serving verses Selling” approach. Rather than convincing people they should buy from us, we simply focus more on providing solutions. We seek first to understand verses being understood. We genuinely care for the well being of others and only introduce our products, or business opportunity, as a solution to whatever challenges our prospects have shared with us. By asking the right set of questions, we are able to quickly identify if we are in a position to help. That’s it!
When done properly, there should never be any pressure, hype, or promises of income. One of the keys to success is setting proper expectations from the very beginning. It’s important prospects understand this is a business that requires learning a new set of skills. It is also vital to your success to attend company events. And it’s going to take time. Just as all business do! By setting realistic expectations, you will quickly dismiss those who are not serious about their goals, and identify those who are ready for a life changing experience.
It’s simple, but not easy.
This means the skills you must learn are relatively easy. (Compared to becoming a Dr., lawyer, architect or an engineer) Applying them consistently, and exercising patience, is the difficult part. It’s definitely not “get rich quick” (as many would have you believe) but it is get rich possible. Success in this business comes as a result of the four P’s: patience, persistence, personal development and perseverance.
98% of the people who are involved in this industry, do it part time, as a means to supplement their current income stream. The industry is founded upon struggling families who want to add an extra $500-$1000 per month in income. This includes a spouse who desires to work from home, and spend more time with his/her children, millennials who want to make money online, and baby boomers who are looking for creative ways to supplement their retirement.
Building a brighter future:
One of the things that networkers find most appealing, is the ability to start building their future, rather than building someone else’s. When you work for someone else, in many cases, (not always) you work for a paycheck. In other words, you are trading your time (your most valuable commodity) for dollars. Most financial experts agree, that’s the worst place to be, if your goal is to gain financial independence. Although most people start out doing network marketing part time, they are positioning themselves for the transition to full time, within the the next 2-4 years. I would equate it to getting an associates or bachelors degree. (Time wise) Except, without having to spend the tens of thousands of dollars, and then the intensive job search that ensues, after one graduates. Of course, there are no guarantees in network marketing you will be full time within 2-4 years. It’s up to your willingness to commit fully to the process. Then again, there aren’t any guarantees for someone who graduates with a college degree either.
Most networkers will tell you, it feels really good to have a plan in place, to achieve their goals and dreams. Jim Rohn once said, “Work full time to make a living. BUT part time to earn your fortune.” Working for 40 years, trying to save as much money as you can, is a sure-fire plan to retire broke. Entrepreneurship is the new retirement plan. I strongly encourage those reading this to consider starting some kind of side business, where they are working on building their fortune. We chose the network marketing industry because it provided everything we needed to build our dream.
The Sky is the Limit:
One of the best parts about network marketing, is the sky is the limit, when it comes to income potential. Where else can you earn $10k, $20k, $50k, $100k PER MONTH (Or more) with very little overhead. It’s an extremely empowering feeling to decide your true worth! There is no salary cap. No salary cuts and no layoffs. You get out of it what you put into it.
In conclusion, network marketing may be a good fit for you, or it may not? I would encourage you to ask yourself a few simple questions, to determine if you are a good candidate for this industry:
Network marketing can be an incredibly rewarding experience, IF you are ready to commit to the process. A great mentor once told me to “marry the process and divorce the results.” These are great words of wisdom for anyone looking to get started in this profession.
In conclusion, Network Marketing is about WHO you become in the process and WHO you help along the way. The money is a bi-product of those things! This industry has allowed our family to travel the world, creating amazing life experiences, with the people we love and care about most. We highly encourage anyone, who is searching for more out of life, to speak with with the person who shared this article with you. Take the time to gather all the facts, so you can make a well informed decision, whether this industry is right for you.
In the Spirit of Success,
CEO/Founder – Entrepreneur Life, Inc.
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