Network Marketing has been around for more than 100 years and is currently a $100 billion+ annual industry. There are more than 60 million people globally who participate, and some of the most successful companies use it to market their products. Moreover, it has attracted some of the most successful investors to it in recent years. The world’s most renowned investor, Warren Buffett, owns three network-marketing company, as did Ted Turner. Donald Trump has his own company, and Bill Gates markets products through it. Robert Kyosaki, Rich Dad Poor Dad, recommends Network Marketing in his books. Even authors like Jack Canfield and John Gray are involved in the profession. This profession is very much on the upswing.
Well specifically, Network Marketing is a legitimate option for the average person to begin a business because (with right company, choosing the right company requires counseling) they have the chance to make a viable income without the potential pitfalls of a traditional business. With the right business, there are no massive financial investments required, no specific hours to keep, little if any commuting, no employees, no shop, no inventories, no accounting, and in most cases no ordering, shipping, or collections. The best part: You can start a business in Network Marketing for very little! The very best companies have a startup fee of just a few hundred dollars, and that usually includes products you use to your own personal benefit. Often that also saves you money in other areas of your life (food bills) so the actual COST to you is actually zero.
How does Network Marketing work?
Imagine Facebook with a product (or service) and a paycheck. How did Facebook grow? Simply through word-of-mouth advertising. The original owners of the company told all of their classmates to join Facebook, and they did. That second group of people shared it with a third group of people, and the third told a fourth, etc. Now a billion people have joined Facebook simply through word of mouth – people telling people. At this point, you should be saying to yourself, “And they didn’t pay me a dime!” Exactly! You did the work, but didn’t get a check.
Imagine you own a McDonalds franchise and you do a REALLY good job training your employees to do their jobs really well. You have great campaigns to let people know about how great your restaurant is and people come pouring in. Head Office looks at your numbers and realizes you’re doing something better than every other McDonalds franchise out there. They come and ask you what you’re doing so well. You don’t want to tell them as it would create more competition for you. So they cut you a deal. You travel around and train the other owners how to do what you do and the Head Office will give you a percentage of those other stores’ increase in sales. Nice, now you get paid to help others make more money.
The same thing happens when you tell your friends about a great restaurant or movie that you just went to. You share your experience and recommend your friends check it out. It’s still up to them to do it. People want to know what you know.
In Network Marketing you get paid to share and you get paid to help others succeed.
How do you make money in Network Marketing?
In Network Marketing, you choose a company to associate with and begin as a business owner from home. You then begin marketing a product you BELIEVE IN to people who would be interested. The parent company pays you for your efforts. They save a lot of money not having to pay any marketing or advertising costs so are able to put that money into developing a better quality product and to also pay you for promoting the product or service.
How do I network?
If you know anyone who might want to tell people about the products as well, you can connect him to the company. When he or she begins getting customers, they’ll get paid too. The amazing part is not only will the company pay your friend for their customers, but they’ll pay you for their customers, too, even though you didn’t directly refer those customers.
Why Would they do that??
Because if it wasn’t for you, the company never would’ve met those customers, so they pay you and your friend for the referral. It doesn’t stop there, though. If your friend knows someone who wants to tell people about the products and get some customers, you can get paid for her customers, as well! This will continue for a certain amount of levels of referral, depending on your company’s compensation plan.
Essentially, in NWM, you’re building a word-of-mouth sales force to tell people about the product your company represents. Your goal is to have the most customers possible through your chain of referral. The more customers you have, the bigger your checks will typically be.
One of the most significant and underrated benefits of NWM is the training. While in most other avenues you’ll receive little or no training, in NWM it’s one of the major focuses of the business. In other models, it’s every man for himself – and your competitors surely won’t train you. In NWM, people are paid to make sure you learn, grow, and succeed
Other Benefits of Network Marketing
The Network Marketing Environment is very upbeat with a lot of positive energy. People are fun to work with because we’re helping others, getting paid to do it- and determining our income, rather than an employer deciding how much our time is worth. In fact we only succeed when those we invite in also succeed. This is all necessary for success in an entrepreneurial environment and exactly the opposite of what people usually encounter in a typical work environment. The positive and supportive culture of Network Marketing is also often a welcome change from what people experience in traditional workplaces. You just need to decide that you are responsible for your future and that you want to get paid what you’re worth.
There are Great tax breaks
There will be development of sales, leadership and speaking skills- which are vital professional skills in all markets.
You will be paid as you learn and grow.
You can participate Network Marketing Part-Time while working, running other businesses, going to school, or just as a hobby etc.
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