Network Marketing opportunities are abundant in the market and is rapidly catching up with people who used to shun it before. Network Marketing is legal and has high potential to earn you a lifetime of passive income. All you need is perseverance and the belief in the system. More about the traits of the network marketer will be discussed later. Here, the topic of discussion is Network Marketing versus MLM.
Network Marketing is slightly different from MLM (Multi-Level-Marketing), if you ask me. Although MLM and Network Marketing terms are used inter-changeably, there is a little difference between these two structures of business. In terms of tier structure and in terms of earning potential, Network Marketing is a better opportunity. What is the difference between Network Marketing and MLM?
Multi Level Marketing, according to me is a tiered approach where as more and more people join the MLM companies, the more and more the up-lines and initial sponsors earn. This means, it is best if you actually join the first batch or the top tier. Otherwise, you will end up with a lot of effort and little money.
Network Marketing opportunities are slightly different from MLM opportunities. In Network Marketing, you are in charge of your business and your sponsors are like your investors. You only share a percentage of the revenue with your sponsors, just like you do in any normal business. Wouldn’t you pay your shareholders their dues? Wouldn’t you split profits with your partners?
Similarly, in Network Marketing, you share a percentage of your revenue with your sponsors for introducing you to the Network Marketing opportunity and helping your learn the ropes and teaching you how to work the system. It is possible for you to earn more than your sponsor in Network Marketing while in MLM, the lion’s share always stays at the top.
Hence, learn your Network Marketing opportunity well and analyse the payment structure and the commission hierarchy before plunging into the business. Any business which gives you less is not worth pursuing. Any business that gives you more is worth trying.
Monday, February 8, 2010
Sunday, January 31, 2010
Your billion dollar lies in your team. Team building for success how to's
Building a down line is easier than building a team. The essential part of Network Marketing and what determines your success in Network Marketing is the strength of your team. Thereby, you will have to continuously work towards its improvement and strengthening.
First of all, never lose hope and never give up. In this way your team will possess the same strategy. You are leader of your team and every one will look towards you for help. If you lost your hope for any reason, your team will also give up.
There might be some people in your down line that would lose hope at time and will tell you that they are going to quit. Support them in such a time because they would only believe in you as you are their leader. To lend some help to your team members would not do any harm; it would in fact strengthen you as a team, which is the key to success in network marketing business.
Secondly, never lose your confidence. Confidence is a property which opens a lot of doors to success for a person. So, whenever there is a problem for you or your team member regarding networking business, always face it with confidence. As the members of your down line would feel that their leader is confident about solving that particular problem, they will work with more zeal and zest. So, you have to possess leadership qualities to acquire success in this business.
Understand that all these are not blatant talk and you are not spinning a mill around your down lines. If you are genuine, you will ensure that you are an asset to the Networ Marketing company and that you make yourself better in terms of knowledge of the business you are in as well as develop people skills that will help you be a strong leader!
Team work is very important in this Network Marketing business. If you are able to build a strong team, it will be of a lot of help for you in long time run in terms of money and leads as well as relationships.
First of all, never lose hope and never give up. In this way your team will possess the same strategy. You are leader of your team and every one will look towards you for help. If you lost your hope for any reason, your team will also give up.
There might be some people in your down line that would lose hope at time and will tell you that they are going to quit. Support them in such a time because they would only believe in you as you are their leader. To lend some help to your team members would not do any harm; it would in fact strengthen you as a team, which is the key to success in network marketing business.
Secondly, never lose your confidence. Confidence is a property which opens a lot of doors to success for a person. So, whenever there is a problem for you or your team member regarding networking business, always face it with confidence. As the members of your down line would feel that their leader is confident about solving that particular problem, they will work with more zeal and zest. So, you have to possess leadership qualities to acquire success in this business.
Understand that all these are not blatant talk and you are not spinning a mill around your down lines. If you are genuine, you will ensure that you are an asset to the Networ Marketing company and that you make yourself better in terms of knowledge of the business you are in as well as develop people skills that will help you be a strong leader!
Team work is very important in this Network Marketing business. If you are able to build a strong team, it will be of a lot of help for you in long time run in terms of money and leads as well as relationships.
Your billion dollar lies in your team. Understand the Importance of team building for success
Network marketing business is comparatively a new concept for people but it is very easy to understand. It is based on introduction of new distributors in your down line every day. It is very easy to understand with this fact that stronger down line results in earning more and more money. Network marketing is an art of strong relationships and to become a successful network marketer you have to understand this and ensure that you just do not have a down line but a team. As soon as you understand this concept, it becomes easier for you to achieve your goal. So you have a down line. Now, you need to build a team! Why is this essential?
There are some examples of people, who have earned a lot of money with the help of network marketing business and some of those people are billionaires too. An example would be the Rich Dad Poor Dad fame, Roberto Kiyosaki.
The main thing on which these achievers in Network Marketing business still focus on is the importance of a strong down line. They understand that their billion dollars lie in their team because network marketing pays according to strength of your team. Whenever you build your team, understand the fact that you are the one towards whom they will look up to in the hour of need. There are three simple ways in which you can build your team spirit. If you do not embrace them and love them, your down line will not perform and you will see many walkouts or sleeping down lines!
There are some examples of people, who have earned a lot of money with the help of network marketing business and some of those people are billionaires too. An example would be the Rich Dad Poor Dad fame, Roberto Kiyosaki.
The main thing on which these achievers in Network Marketing business still focus on is the importance of a strong down line. They understand that their billion dollars lie in their team because network marketing pays according to strength of your team. Whenever you build your team, understand the fact that you are the one towards whom they will look up to in the hour of need. There are three simple ways in which you can build your team spirit. If you do not embrace them and love them, your down line will not perform and you will see many walkouts or sleeping down lines!
5 Reasons why your Network Marketing business may be failing
If you are a network marketer and your notice or are worried that your Network Marketing business may be failing, then you have identify and get rid of your mistakes and weaknesses as soon as possible. Don’t panic because it would only lead to frustration. The only thing you need to do is to concentrate on your work and sort out solution. Understand the following reasons for failures and do an analysis on your network to see if you are suffering from any of these.
Reason for failure -1
The first main reason of failure might be the fact that you don’t have enough confidence to convince people to join your business. It could be because you are not confident yourself that you are in the right business. It could be because you are not confident in presenting your product or service to your prospects. It could be because you have not closed a sale or sponsored a down line for more than 6 months. Lack of confidence is one of the most common causes of failure in this business. It is not good for a marketer to loose his confidence, so, you should always be confident, otherwise your chances of success in this business are very limited. I will soon be lookng into things you can do to boost your confidence... so watch this space!
Reason for failure -2
Second important reason which causes many people to leave the Network Marketing business is, poor down line. A strong down line is very important to prosper in business of network marketing. Some people who enter in this business dream that they will get success in a matter of days and will build a very long down line in a very short period of time coaxing friends and families to join.
This approach is totally wrong because most of the people which you enter in your down line are new in this business and will take some time to adjust themselves. Others would just join out of love for you and may not be interested in your business at all! It is not good to expect that you will have a very strong down line in three or four months because actually it is a matter of at least three to four years. People who loose their hope in the beginning, cannot succeed I network marketing.
Reason for failure -3
Lack of proper network marketing knowledge may also be the reason of your failure in network marketing business. Ponder on this point because you might have a natural talent of marketing in you but only knowledge and a good marketing training can refine your skills to become a successful network marketer. Network Marketing is much more personal than a business and you have to do something more in your Network Marketing strategy that you do not in your usual business in order to gain success. I will be posting on what is the difference between a business and Network Marketing business soon... so watch this space!
Reason for failure -4
Another important factor which leads most of the beginners in this business to failure is the absence of having a strong start-up strategy for business. You might be one of such people who enter in this business and think that it is very easy to do it because the only main thing which you have to do is to build a down line. Keep in your mind that it isn’t as easy as you may think and it take s a lot of time to do so.
Reason for failure -5
The last thing to mention here is the fact that some people loose their hope very early, which leads to termination of their business. There is more news about MLM failures and scams that if your starting out is not good, you will start feeling that you were scammed in the first place and you will never make any money from this venture. However, Network Marketing is for real and you will be able to be successful and fulfill your dream. But you need to understand that Network Marketing is not a GET RICH QUICK scheme. Lots of hardwork and dedication is needed for success!
Always remember that failure always opens new paths for you to follow and achieve success. So, never give-up, one day you will achieve the success.
Reason for failure -1
The first main reason of failure might be the fact that you don’t have enough confidence to convince people to join your business. It could be because you are not confident yourself that you are in the right business. It could be because you are not confident in presenting your product or service to your prospects. It could be because you have not closed a sale or sponsored a down line for more than 6 months. Lack of confidence is one of the most common causes of failure in this business. It is not good for a marketer to loose his confidence, so, you should always be confident, otherwise your chances of success in this business are very limited. I will soon be lookng into things you can do to boost your confidence... so watch this space!
Reason for failure -2
Second important reason which causes many people to leave the Network Marketing business is, poor down line. A strong down line is very important to prosper in business of network marketing. Some people who enter in this business dream that they will get success in a matter of days and will build a very long down line in a very short period of time coaxing friends and families to join.
This approach is totally wrong because most of the people which you enter in your down line are new in this business and will take some time to adjust themselves. Others would just join out of love for you and may not be interested in your business at all! It is not good to expect that you will have a very strong down line in three or four months because actually it is a matter of at least three to four years. People who loose their hope in the beginning, cannot succeed I network marketing.
Reason for failure -3
Lack of proper network marketing knowledge may also be the reason of your failure in network marketing business. Ponder on this point because you might have a natural talent of marketing in you but only knowledge and a good marketing training can refine your skills to become a successful network marketer. Network Marketing is much more personal than a business and you have to do something more in your Network Marketing strategy that you do not in your usual business in order to gain success. I will be posting on what is the difference between a business and Network Marketing business soon... so watch this space!
Reason for failure -4
Another important factor which leads most of the beginners in this business to failure is the absence of having a strong start-up strategy for business. You might be one of such people who enter in this business and think that it is very easy to do it because the only main thing which you have to do is to build a down line. Keep in your mind that it isn’t as easy as you may think and it take s a lot of time to do so.
Reason for failure -5
The last thing to mention here is the fact that some people loose their hope very early, which leads to termination of their business. There is more news about MLM failures and scams that if your starting out is not good, you will start feeling that you were scammed in the first place and you will never make any money from this venture. However, Network Marketing is for real and you will be able to be successful and fulfill your dream. But you need to understand that Network Marketing is not a GET RICH QUICK scheme. Lots of hardwork and dedication is needed for success!
Always remember that failure always opens new paths for you to follow and achieve success. So, never give-up, one day you will achieve the success.
Keeping your Down Line Motivated a 4 Part series - Part 4
Another way to help motivate your down line is by publicly recognizing your them. This doesn't mean placing an ad in their local paper but rather letting others in your network marketing company know about your down lines' accomplishments. We all like to be praised and appreciated in some fashion. It makes us desire to do more. The power of acceptance and appreciation is a immense. The amount of bost it gives your down line can be seen in his enthusianm and hardwork that will follow the days after his recognition.
Therefore, do ensure that you, as a Network Marketer as well as a sponsor, keep up to date with what your down lines are doing and take a note of their accomplishments as well as effort and tell them how much you are proud of them and how much you want them to succeed. Introduce them to your other colleagues and tell them your down lines importance to you and highlight their efforts and accomplishments so that they feel that you value them.
We have come to an end of our 4 part Motivation series. Hope you take back something with you and have great success in your Network Marketing business! Do leave a comment if you liked what you have read and also let me know if you would like to see any topics that are not discussed here at the moment. Thank You.
Therefore, do ensure that you, as a Network Marketer as well as a sponsor, keep up to date with what your down lines are doing and take a note of their accomplishments as well as effort and tell them how much you are proud of them and how much you want them to succeed. Introduce them to your other colleagues and tell them your down lines importance to you and highlight their efforts and accomplishments so that they feel that you value them.
We have come to an end of our 4 part Motivation series. Hope you take back something with you and have great success in your Network Marketing business! Do leave a comment if you liked what you have read and also let me know if you would like to see any topics that are not discussed here at the moment. Thank You.
Keeping your Down Line Motivated a 4 Part series - Part 3
What makes it worse for your downline to be motivated is that they do not have much product knowledge as well. Therefore, in order for them to become motivated by seeing the money come in will need a lot of guidance and training from your side. Once your down line joins your Network Marketing business, you need to set quality time to spend with this down line. Helping your new down line and motivating them to learn about the products is another dropped aspect of motivating your down line.
Numerous people new to the business are so overwhelmed with other responsibilities of networking that they seem to forget about the products. And these are the products that have to be sold if anyone has to make money in Network Marketing. Being overwhelmed by the fact that they are new to the network marketing business can make literally stop doing any business because they will feel mentally drained and de-motivated.
Acquiring product knowledge needs to be a fast process and you, as a Network Marketer can make this possible for your down line. You are the first person whom your down line will look out for knowledge on the business aspect as well as the product and service aspect. You need to keep yourself up to date with all the happenings within your Network Marketing company. When you do this, you can naturally impart these knowledge to your down lines.
Next, you need to hold seperate sessions and teach your down lines on how best to market and sell the products or services offered by the company. This way, you are teaching them to duplicate your business. When they realise that you are actually imparting your secrets to success with them, they will naturally feel elated at having you as a sponsor as well as show the enthusiasm to learn all about that is being taught.
Once you have your down line motivated to learn about the products, services and the company itself, you can focus on other downline and developing them.
Numerous people new to the business are so overwhelmed with other responsibilities of networking that they seem to forget about the products. And these are the products that have to be sold if anyone has to make money in Network Marketing. Being overwhelmed by the fact that they are new to the network marketing business can make literally stop doing any business because they will feel mentally drained and de-motivated.
Acquiring product knowledge needs to be a fast process and you, as a Network Marketer can make this possible for your down line. You are the first person whom your down line will look out for knowledge on the business aspect as well as the product and service aspect. You need to keep yourself up to date with all the happenings within your Network Marketing company. When you do this, you can naturally impart these knowledge to your down lines.
Next, you need to hold seperate sessions and teach your down lines on how best to market and sell the products or services offered by the company. This way, you are teaching them to duplicate your business. When they realise that you are actually imparting your secrets to success with them, they will naturally feel elated at having you as a sponsor as well as show the enthusiasm to learn all about that is being taught.
Once you have your down line motivated to learn about the products, services and the company itself, you can focus on other downline and developing them.
Keeping your Down Line Motivated a 4 Part series - Part 2
One of the greatest motivators in the Network Marketing business is money. And the best way to keep your down line motivated is to get them in a place where they can earn some money very rapidly. The quicker this happens the better opportunity you have of having an associate who is very excited. And it doesn't have to be a great deal of money. Just as long as the new distributor acknowledges that you can earn money in this business is a great motivation.
Starting may be difficult and your down line may not have any kind of selling or prospecting knowledge. Many down lines join because they were impressed with the presentation and the potential of the Network Marketing business. However, they do also believe that they cannot make it as big as those who gave them the presentation. Why?
It is just nervousness or the feeling that they do not know the business enough to make that kind of money! Here, your job as a responsible upline ans sponsor is to instill the confidence needed for them to start earning their first penny, making that first sale and developing their first level of down line!
For this, you need to accompany them on sales pitches, your prospecting sessions etc. You will have to show them the ways of duplicating what you do and instill in them that in order to be successful, duplication is the best possible way to do so!
Starting may be difficult and your down line may not have any kind of selling or prospecting knowledge. Many down lines join because they were impressed with the presentation and the potential of the Network Marketing business. However, they do also believe that they cannot make it as big as those who gave them the presentation. Why?
It is just nervousness or the feeling that they do not know the business enough to make that kind of money! Here, your job as a responsible upline ans sponsor is to instill the confidence needed for them to start earning their first penny, making that first sale and developing their first level of down line!
For this, you need to accompany them on sales pitches, your prospecting sessions etc. You will have to show them the ways of duplicating what you do and instill in them that in order to be successful, duplication is the best possible way to do so!
Keeping your Down Line Motivated a 4 Part series - Part 1
An important part of network marketing is motivating those in your down line. It's an area where numerous network marketers exit for one reason or another. Yet it is an action that helps develop your business. Too many distributors leave the business because the enthusiasm they start with soon fades also read as lack of motivation.
How can you motivate your down line to continue in the business and grow your own network? Drawing doen lines into the network marketing business is very easy. Perhaps too easy if you know the right aaproach! Joining a Netwok Marketing company does not need anu prior sales or management qualifications! This is precisely why many people do not value the possibilities that await them when they decide to join a network marketing company. But that appears to be human nature. If we acquire things too easily we don't appear to really appreciate what we have.
Because numerous people give up or quit before they actually give things an opportunity to develop, you, as an upline and a Network Marketer who wants to make it big, have an uphill battle in trying to keep your down line motivated and interested in working the business in network marketing. Even though the work they do is for their benefit, many people just give up. They can't control the frustration and setbacks of building a network. Many expect overnight success and when it doesn't happen they begin to lose concern.
For your down line to stay intact you must know that how to be a motivator for an ideal network marketing business. You will need to have some strategy in place to boost your down lines to continue even when things get difficult. Here are a few suggestions that you may find profitable in motivating the down lines in your network marketing business.
How can you motivate your down line to continue in the business and grow your own network? Drawing doen lines into the network marketing business is very easy. Perhaps too easy if you know the right aaproach! Joining a Netwok Marketing company does not need anu prior sales or management qualifications! This is precisely why many people do not value the possibilities that await them when they decide to join a network marketing company. But that appears to be human nature. If we acquire things too easily we don't appear to really appreciate what we have.
Because numerous people give up or quit before they actually give things an opportunity to develop, you, as an upline and a Network Marketer who wants to make it big, have an uphill battle in trying to keep your down line motivated and interested in working the business in network marketing. Even though the work they do is for their benefit, many people just give up. They can't control the frustration and setbacks of building a network. Many expect overnight success and when it doesn't happen they begin to lose concern.
For your down line to stay intact you must know that how to be a motivator for an ideal network marketing business. You will need to have some strategy in place to boost your down lines to continue even when things get difficult. Here are a few suggestions that you may find profitable in motivating the down lines in your network marketing business.
Saturday, January 30, 2010
Powerful and Magicical Questions to ask when Prospecting in Network Marketing
What in the world is a "magic" question? A magic question is the finishing touch of a prospecting conversation. Magic questions determine whether the prospect wants to discover about your network marketing opportunity or not. Below are a few Magical and Powerful questions you can ask your prospects.
Are you getting all the money you can stand?
Do you always feel you're much more valuable than you're getting paid for?
An efficient magic question makes it hard for the candidate to say "No," and easy to say, "Yes" and you need to use this in a moment of Prospecting Instant!
A prospecting instant is the place in a conversation between a Network Marketer and the prospect that maps the foremost time for you to ask your magic question. The destination of the prospecting conversation is to create a productive tedious environment in which the prospecting moment can occur naturally and within the available time period. Once you have attained perfection in the principles of prospecting, you will orchestrate prospecting conversations at will.
With practice, the whole procedure of asking the magic question and having the prospecting conversation at just the right moment will transpire naturally. The prospect will never realize what's happened. Utilize the three laws of prospecting to get success to your networking marketing business.
Are you getting all the money you can stand?
Do you always feel you're much more valuable than you're getting paid for?
An efficient magic question makes it hard for the candidate to say "No," and easy to say, "Yes" and you need to use this in a moment of Prospecting Instant!
A prospecting instant is the place in a conversation between a Network Marketer and the prospect that maps the foremost time for you to ask your magic question. The destination of the prospecting conversation is to create a productive tedious environment in which the prospecting moment can occur naturally and within the available time period. Once you have attained perfection in the principles of prospecting, you will orchestrate prospecting conversations at will.
With practice, the whole procedure of asking the magic question and having the prospecting conversation at just the right moment will transpire naturally. The prospect will never realize what's happened. Utilize the three laws of prospecting to get success to your networking marketing business.
The Vital Difference between Prospecting and Recruiting in Network Marketing
Prospecting is an essential aspect of building a network marketing squad. Prospecting is the process of approaching someone you do not know and using conversation to determine if he or she has an interest in exploring your opportunity.
In contrast, recruiting is the process of sharing the details of your opportunity with the purpose of recruiting them as a representative or down line on your team.
The main idea od both prospecting and recruiting is to make a person join your Network Marketing business as a down line. However, the approach of both makes a lot of difference in the kind of down lines you will receive and how much you will become a success.
Prospecting identifies the needs and wants of the potential down line. You, as a Network Marketer will be able to build a one-on-one relatiobship with the potential down line much earlier as when you prospect, you will come across as a person who has genuine interest in the person and have something for them to benefit from.
When you recruit and someone joins, you can be rest assurred that 99% of the time, those who join are in it for the money.
Both ways are good in getting people to join as your down line. However, the vital difference in prospecting and recruiting is the commitment level. Prospects join the team in order to benefit and to benefit others. Recruits join in order to earn and they will leave once they are presented with much better opportunity.
Hence, if you are recruiting at the moment in your Network Marketing business, you need to start prospecting your recruits as well.
In contrast, recruiting is the process of sharing the details of your opportunity with the purpose of recruiting them as a representative or down line on your team.
The main idea od both prospecting and recruiting is to make a person join your Network Marketing business as a down line. However, the approach of both makes a lot of difference in the kind of down lines you will receive and how much you will become a success.
Prospecting identifies the needs and wants of the potential down line. You, as a Network Marketer will be able to build a one-on-one relatiobship with the potential down line much earlier as when you prospect, you will come across as a person who has genuine interest in the person and have something for them to benefit from.
When you recruit and someone joins, you can be rest assurred that 99% of the time, those who join are in it for the money.
Both ways are good in getting people to join as your down line. However, the vital difference in prospecting and recruiting is the commitment level. Prospects join the team in order to benefit and to benefit others. Recruits join in order to earn and they will leave once they are presented with much better opportunity.
Hence, if you are recruiting at the moment in your Network Marketing business, you need to start prospecting your recruits as well.
3 Laws of Prospecting in Network Marketing
Prospecting is a big headache in Network Marketing business. Anyone involved in it will tell you that until they reach a magic formula, they were clueless on how to build a strong down line. The magic formula will be different for all of us. It is when your heart tells you and when you see your commissions and down lines increase that you realize ever that magic formula. Till then, we can still follow the 3 laws of prospecting in Network Marketing to guide us along.
1st Law of Prospecting in Network marketing
The amount of people who don't experience you is endlessly larger than the list of people who do recognize you.
2nd Law of Prospecting in Network marketing
Individuals who don't know you will take you more seriously than the ones who do know you.
3rd Law of Prospecting in Network marketing
Many people we encounter in our daily lives will be hugely beneficial for our Network Marketing business. Unless we capture them, we'll never come to know which ones they are.
Let's take a better look at these three laws of prospecting in Network Marketing.
Firstly, once you develop the habit of prospecting unknowns in Network Marketing, you will never run out of prospects. This law gives you a major reward in building your Network Marketing business. After all, people are converting 18 percent faster when you have the time to speak with them. This gives you a major advantage in building your business with a nearly limitless list of potential prospects.
Many representatives attain better results talking to strangers than to people they already know. Why? The 2nd law of prospecting spells this out. Besides, if you don't begin meeting new people, what will you do when you arrive to the end of the list of people you already know?
Third, we pass people each day who are good prospects for the growth of our network marketing business. Unfortunately, many representatives fail to recognize them. Starting a conversation with somebody you don't acknowledge can be frustrating. Is there a magic recipe to break the ice?
1st Law of Prospecting in Network marketing
The amount of people who don't experience you is endlessly larger than the list of people who do recognize you.
2nd Law of Prospecting in Network marketing
Individuals who don't know you will take you more seriously than the ones who do know you.
3rd Law of Prospecting in Network marketing
Many people we encounter in our daily lives will be hugely beneficial for our Network Marketing business. Unless we capture them, we'll never come to know which ones they are.
Let's take a better look at these three laws of prospecting in Network Marketing.
Firstly, once you develop the habit of prospecting unknowns in Network Marketing, you will never run out of prospects. This law gives you a major reward in building your Network Marketing business. After all, people are converting 18 percent faster when you have the time to speak with them. This gives you a major advantage in building your business with a nearly limitless list of potential prospects.
Many representatives attain better results talking to strangers than to people they already know. Why? The 2nd law of prospecting spells this out. Besides, if you don't begin meeting new people, what will you do when you arrive to the end of the list of people you already know?
Third, we pass people each day who are good prospects for the growth of our network marketing business. Unfortunately, many representatives fail to recognize them. Starting a conversation with somebody you don't acknowledge can be frustrating. Is there a magic recipe to break the ice?
