Network Marketing also called Multi-Level Marketing (MLM) is an easy and lucrative business. It’s a method of extending products and services from the manufacturer to the end consumer through advertisement, word of mouth or personal recommendation. For example, what do you do if your friend tells you of a thrilling movie? Well, you will go and watch it! Now, what would happen if your friend is paid some commission every time someone he has informed watches that movie? Of course he would tell more people! This is how network marketing works; everyone wins by making money, not just the person who sells the product.
Network marketing offers the following main benefits:
No employees to hire
This is a clear advantage over traditional business. It’s a business of people interdependently working together. You can build such a business from home because there are no employees. This will relieve you from employees concerns, negative dispositions, disinterest, excuses etc. By having a network of independent business owners operating towards a common goal, you can attain the results of main businesses without going through headaches.
Using network marketing to sell your products can earn you a lot of income. This is because you get a percentage of profits from any sale made by your representatives. The more representatives you have the more you make. There is no limit to how much you can gain from it. Low operating costs: With network marketing you can run your business at low cost. In comparison to the traditional business models, it’s a more sensible choice. This is where you take advantage of your up-line support. Good up-line mentors allows you to piggyback on the personal power, knowledge, expertise and assist in generating money to pay your initial investment and earn profits at your early stages.
Freedom and Flexibility
There is a lot of flexibility and freedom in network marketing. Whether you are a distributor or a leader, you can work the way you would want. If you are smart, you can work without spending time selling the products. This offers you the flexibility to work from home and also plan your own schedule. You will have freedom since you can have your own time without worrying about any boss.
In order to make the best option consider the following factors:
No reversions – The company should not demote you due to unstable group or personal sales volume. When you have reached a certain level, you should remain there for life if you can’t climb up the ladder anymore.
No large membership or investment fee – The company shouldn’t demand large amount of membership or investments fees, and it should buy back any products in case you should choose to opt out.
Rewarding marketing plan – The Company should have a marketing plan that rewards your efforts. For instance, when people you sponsor excel in sales, you should be rewarded, rather than being passed up on the marketing plan.
Proven, mainstream product line – Go for a company with proven, mainstream product line. A vigorous consumer base is a fundamental to any successful network marketing and can only be built on quality, consumable products.
Lastly, get into this industry and learn the ropes. Research on the great players of this great business and point out their strategies and try to adopt.