If you are new to business, marketing and in particular network marketing then welcome. This is for you. We believe that building a network marketing business is one of the most rewarding and exciting things you can do with your time.
In order for you to be really successful in network marketing there are a few things that you need to know first.
We are now going to look at what exactly network marketing is, why you should even bother starting this kind of business, what this business definitely is NOT and then how to get started in the best way possible. This is going to be a very exciting journey.
What Is Network Marketing?
Dictionary definition: – Network marketing or multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation. Other terms include network marketing, direct selling and referral marketing.
Our definition: – Network marketing is a way for people who have had no business or marketing experience to start their own business, live a rewarding life with passion and purpose and becoming financially independent.
How Does It Work?
It is actually very simple. You begin using a companies products instead of using the products that you would normally get from the supermarket or high street. You then build a team of people that you want to go in to business with who then do the same thing. Essentially that is it.
Is It Legal?
Of course. This business modal was first introduced in the 1930’s and is run under strict government regulations like any business. Just note that many of the biggest Fortune 500 companies in America right now are network marketing companies. This is because of their explosive growth through referral marketing. It is proven to be a very effective way of doing business which is actually increasing in popularity each year.
Isn’t That A Pyramid Scheme?
The short answer is no. A pyramid scheme is where you get people to invest just money. You then pay new people with the money you got from previous people. The big difference is that there is no product involved. The product is essentially just money. As network marketing businesses have actual products that are bought and sold they are not pyramid schemes. Which is why there are over 400 network marketing companies worldwide right now.
Why Should I Start A Network Marketing Business?
Good question. You can see a full post on Why Start a Network Marketing Business. For now here are the main reasons why more people are deciding to leave the 9-5 and start their own business each year.
- Double Your Income Each Year – Unlike a job where a 10% increase in salary is classes as really good. You can double your previous years income as you have a business which gives you massive leverage.
- Pay Less in Tax – As your income is classed as business income you get the benefit of paying a lower tax bracket than what employees get. The more money you make the less you pay in tax. This is the opposite you get with a job.
- Enjoy Your 8 Hour Work Day – Many people find their current jobs boring and fulfilling. Network marketing can be a very rewarding way to spend your time each day. There is a great social side to it which is spent with friends developing each other.
- Great Incentives – Many of the best companies offer great incentives like free luxury cars and holidays for top performers.
- Financial Independence – Businesses create “passive income” which means you are not selling your time for money. This is the key to wealth creation. As long as you keep selling time for money your income is capped as there is only 24 hours in a day.
What Network Marketing Is NOT
Before we go in to how to get started, it is important to start with the right mindset and expectations.
Network Marketing is NOT Easy and Takes a Lot of Hard Work
Please do not start this business thinking it is an easy way to make money. As this is a business it is actually a harder route than just being an employee. With a 9-5 job all you have to do is turn up and you get paid.
Network Marketing Success is NOT Overnight
Anyone with business experience knows that it is standard for a business to take 1-3 years to become profitable. Although this is faster with a network marketing business there is going to be some work involved in the beginning to get momentum.
Network Marketing Is NOT Impossible
Before I got in to business, I had no experience and deep down I didn’t really think I would be able to do it. I am here to tell you that it is actually very possible to replace your 9-5 income and completely change your life for the better. There will come a point when you have to trust yourself, know that other people are here to help and take a leap of faith.
Now that you have the right mindset we can get in to how you can get the best start possible towards reaching your personal and business goals.
How To Get Started
There are only 3 things you need to get a fast start in your new business venture. You need the right company, the right business mentor and the ability to find and train the right people.
1. Your Company
As there are over 400 hundred companies you can choose from it is essential that you know which company is right and is going to get you to your goals in the easiest and shortest time possible whilst having the most fun.
2. Your Business Mentor
Getting the right business mentor right from the start is critical and will be the number one determining factor to your ultimate success. Choose someone who genuinely cares about you and your success.
3. Your Team
The key to success in any business is in the people and in particular your team. The key is to attract the most highly targeted people for the business and then train your team to do the same. Your business mentor will show exactly you how to do this.