It is a well known fact that 92% of the people who join a network
marketing company fail. While this could be attributed to any
number of variables, I believe there is one that stands out from
the crowd. A vast majority of the people who start in network
marketing are encouraged to do so by other unskilled, untrained,
unprofessional individuals.
When untrained people are attempting to train other untrained
people, what happens? Simple, you end up with a lot of untrained
people. Well, it simply doesn't work very well. Every business
person knows that to achieve better results they have to learn from
someone, somewhere.
Friendly Opportunities:
Most people are first exposed to the network marketing business
through a close friend or relative. While this may be a good thing
in the long run, you need to step back and look at the plan very
closely. Before you join any program a friend recommends, check it
out yourself. Ask yourself if you would join this company if this
wasn't your friend presenting it?
Company:
You want to check out the company as much as possible before you
join. How long have they been in business? What does their
headquarters look like? Does it look like they could move out in
an hour without a trace or have they set up in a permanent place of
business? How easy is it to get your questions answered by a
company representative? What is their pay plan? Do the
distributors make most of the profits or is the company keeping
them? Does the company leadership value your opinion as a
distributor? If they don't, they may be in this business for their
own malicious reasons and not really care about you. What is the
company motto? Is it your motto as well? Do the president's values
and integrity hold up to outside scrutiny? What is the company
leadership's record? Have they started other businesses that have
failed or have they been successful in business before?
Products:
The products will make or break your success in this business.
Without a good product no one will want to buy it. Can you buy the
very same product at Walmart for 50% less money? A vast majority
of network marketing companies sell normal everyday store bought
items and tack on an extra 50% for distributor payout. Would you
buy the product if there wasn't a financial gain from doing so?
Are you excited about the product? Can you enthusiastically
describe the product to a customer? Does the product offer
benefits to your customers that can't be found elsewhere?
Upline:
Your sponsor can be a tremendous asset to your business or they can
be leeches. I recommend you get to know your future sponsor before
you sign under them. While having a sponsor that doesn't help you
won't kill your business, one that does help can really boost it.
Talk to them on the phone, get to know them a bit. If you do sign
with them, it's very likely you'll have to keep speaking with this
person for many years to come. Can you stand to be around them?
Even if you'll never meet your sponsor face to face, can you talk
to them on the phone for years? It's important that the two of you
get along or it'll just be a burden.
Training:
Training involves several key aspects. The first thing you want to
find out is if the company you are joining already has a business
plan or some sort of outline for new distributors to follow. If
they don't have one, ask your sponsor if they have one. If they
don't have one, I would seriously look for a different sponsor or a
new company. Network marketing is all about duplication.
Successful network marketers need to have a system for showing new
recruits exactly what they did to become successful. Other
training resources you should look for are corporate updates,
teleconferences, training videos, and weekly business building
articles. Now even if the company and sponsor have these materials
you need to do your part by reading, watching, or listening to them.
Commitment:
I'm going to say this once. You will NOT get rich quick. Anyone
that tells you otherwise is lying. Very few people in this
business can go out, join a company, and be making $20,000 a month
in their first month. Only on rare occasions does something like
that happen. I've been with my company now for approximately seven
months and I am only now starting to see the fruits of my labor.
It takes time to develop a prospect base and it takes more time to
convert them to sales or distributors. When you join a network
marketing company, plan on staying with them for at least six
months. Although I think a year is probably the real turning point
that will tell you if you're cut out to do this. As with any new
job you have to learn the ropes before you can really be
productive.
When people first enter the network marketing business they often
take the wrong approach. Very often it is just a hobby to them
because it didn't cost a fortune to get involved. When they fail,
they think, "oh well, nothing ventured, nothing gained." If you
approach this like you have nothing to lose, then most likely you
WILL lose. You need to act like just invested $500,000 into your
new business. Then you need to run it like a business. The more
you put into your business the more it will reward you.
Goals:
You've found a product you like, a company with good leadership, a
sponsor that supports you, training materials to teach you, and
you've committed to at least six months with this company. Now you
have to set a few goals. Don't go overboard and say you are going
to sponsor the entire world in your first month. Set reasonable
goals that you know you can achieve. Initially you should try to
talk to at least a couple new people per week. Aim yourself to
have your first sponsor at the end of a month. Don't quit if you
didn't get them in the first month. You may just need to talk to
more people per week. As your success builds, set your goals
higher until you reach a level that you are comfortable with.