On the face of it, Network Marketing appears to be an attractive source of income that can be generated from the comfort of your home. Most often, it does not call for any particular qualifications or references and so the market is wide open. The sign-up formalities are deceptively simple. It almost gives you the impression that just by filling out a few online forms and paying a franchise fee you will start making money.
Most often, entrepreneurs do not stop to think that they have become aware of this opportunity because somebody else targeted them and signed them up. Similarly, in order for them to earn money, they have to go out and convince others to sign up as well.
Simple Ways Of Selling
There are simple ways to start selling this concept to others. Pick up the phone and call all your contacts and try to convince them to sign up, or ask them for references of people you yourself could approach. Or, you could print business cards and hand them out at the local community center. To create more visibility, you could even put a sticker with information on your vehicle so that your business gets automatic visibility. However, you will have limited success with these methods. To experience exponential growth, you would need to resort to network marketing.
The concept of network marketing is often sold with the words of oil millionaire J. Paul Getty – who said that he would rather have one percent of the efforts of 100 people than 100 percent of his own efforts. Network marketing is not a new concept. Way back in 1935, before the word was coined and the concept totally understood, The Kirby Vacuum Cleaner Company used this method. They realized that in order to sell their product, a personal demonstration was required. They appointed a few dealers, whom they trained on the product and with whom they agreed to share profits. These dealers in turn went out and trained others. Each person got a share of the profit from any equipment they sold, as well as a share of the profits earned by anyone that they recommended to the organization. This built up a wide sales network and sales went through the roof.
The Road And Pace You Choose
As with most business opportunities, the income earned from network marketing will depend on the person. Some people, with a lot of contacts and good selling skills, may experience a quick growth spurt. Most people however, take the slow and steady route. They first understand and learn the concept of network marketing and the details of the product they are selling. Then they put in dedicated hours of sales calls on a focused list of prospects. They have not only to convince others to buy into the concept of network marketing but have to continue to maintain contact with them and encourage them to sign on others for the scheme as the sales effected by all their references generates money all the way up the distribution chain.
The success of Network Marketing depends on a constantly widening network of contacts. If you have perseverance, lots of contacts and an equal amount of patience, then you can probably be very successful in this line of business.