Network or MLM marketing can be the best option, as long as the focus is on selling products. You can register with an existing MLM organization, if you want to start your own network marketing company, or start your own from the ground up, but if you are going the DIY route you will need to establish a relationship with the vendor or builder to get your own product.
If you are thinking of starting your own Network Marketing then, it applies to the idea that you are selling products to people who are selling to other people, who are selling to other people. . . and so on. All it requires is a small initial investment so that you can purchase a sample product – which offers the opportunity to sell the product line directly to the family, friends, and other contacts. Sometimes you need to hire other sales representatives – like people who belong with the same family members, friends, and acquaintances. These salespeople make up your ‘bottom line,’ and their sales make you a lot of money.
So, the more people you bring to the board, the better your profit. If you are a savvy salesman who can assure others of the benefits of this program and end up selling sales memberships (and products), you can earn a lot of money. You need to analyze various network marketing plans to choose from. Popular commercial add-ons for health and beauty services, but you can go with everything from remote phone services to fine art prints.
The advantages of this business are that the initial costs are small, the hours vary, you can start a part-time job, and you can work from home. About the only thing you need in this business is a sense of sales. If you have a background in marketing, you are ahead of the game, but if not, you can still win. Just make sure you believe in the products and the company you work with. Sincere enthusiasm goes a long way in convincing others to buy.
Over the past decade, Network Marketing has gained tremendous value in India. This is a platform that combines business flexibility with a payment system, providing you with the best of both worlds.
The steps needed to start and build a successful network marketing business on your own are:
- POWER OF “WHY”: To grow any business, one must first have a dream of it and a strong WHY power. So, your first step is to figure out your “WHY”. Why do you want to incorporate network marketing? Could it be that you want to live a richer life? A car or a house? The education of your children? You have to have a dream to keep you going. Also, ask yourself if you are ready to commit to it, even if it is one hour a day! Boldly write down your dream.
- GOAL: Each step will build a good foundation for your network marketing business. Now that you know why you want to get into network marketing, the second question is “HOW”. You have to determine your long-term & short-term goal, year after year. This will provide you a direction in what you want to achieve.
- DETERMINE PRICE STRUCTURE: Set the selling price of your products based on your provider’s recommendations. Establish a commission structure for your distributors at different levels. Set up 10 percent commissions, for example, on first-class sales where distributors receive money from those hired people.
- MARKET: Your customers will be anyone you know or meet. Most network marketers start by asking for friends and family. If there are people who involve in Network Marketing in your area, they may arrange for weekly meetings where vendors and prospects meet to enjoy each other’s company and to enroll new members. If so, make it your habit to attend with your hopes. It’s hard for people to reject your invitation to join a room full of other enthusiastic newbies. In this business, it is important to keep your distributors selling.
Do not sell them membership or ignore them, or they are responsible for dropping their link on the chain. Talk to them often regarding their works, how they are doing. Go with them through sales calls to provide moral support and enthusiasm and help register prospects. Many network vendors sell through a group system. Easy and fun. Have a manager or home manager who will invite friends for the distribution of sample products. You can sell products, with registered people, you can also distribute gifts or provide discounts on what they buy.
- Equipment: You do not need any special tools or equipment, other than a telephone contact with your distributors, a parent company and prospects, and a car that will come out to sign people and attend weekly debates that are a feature of this business.
- SKILLS & TRAINING: You can start taking some training or learning new things or skills, if you start one, then you have to follow their training program and learn various techniques to build an effective customer base. That is where becoming the right leader is worth the effort. If you become the right leader, you will be able to look up to your subordinates & people, this will make you a mentor who helps you and other people grow together.
- PLANNING: Once you know how to do business, it’s time to set goals for performance. Depending on your dream, goals, and training, plan your calendar. Create a weekly activity list and share it with your Downline/team members. Remember, in the network marketing business, the more members of your team grow, the better.
Your entire action plan should focus on 1. Team members and 2. With recruits. You are a leader and responsible for the growth of your team.
Most people quit after planning; successful people turn their plans into reality. While 80% will give up after planning, be a leader and make your efforts to turn your dream into a reality. Your monthly goals should include:
- Sales of minimum order required.
- Hiring new team members.
- Developing skills of yours and your team members.
This is the only thing to keep in mind. All your campaigns should focus on these three important goals.
IMPLEMENTATION & REVIEW:
At the end of each week or month, reflect on your accomplishments, missed opportunities, and improvements. Celebrate your victory with team members and people who support and help you and learn from the mistakes you made this month. A progress review session can tell you whether you will succeed or not, how close you are to your goal, and prepare you to make effective plans for the coming month.