How to Succeed in Network Marketing

Network marketing, also known as Multi-Level Marketing (MLM), is a business model where independent contractors buy into a company and earn a commission on the products they sell. The profession appeals to many people because they can be their own boss, set their own hours, and work towards their own success. It is a big commitment, but network marketing can be a very lucrative career.

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Investigate companies. Choosing the right company is key to your success. Quick and easy internet searches can usually answer many of the questions you may have. Do some research to determine which company is best for you personally. Some questions you should ask yourself when researching companies are:^[1][2]

• How old is the company? Is it well-established or is it just starting out?
• How are the company's sales? Are they rising or falling?
• What is the general reputation of the company? Reviews and blogs can usually give you a good idea if the company is reputable or suspicious.

2  Investigate the products or service the company sells. Since you'll be responsible for pitching and selling this product, make sure it is reputable. Some MLM companies market questionable or dangerous products, and you could face legal action if you take part. You should keep the following in mind when considering a product:^[3]

• Is this product safe?
• Are the product's claims backed up by legitimate research?
• Would I use this product?
• Is this product priced fairly?

3  Draw up a business plan. When you have a few potential companies in mind, write out your plan for building and expanding your business. Even before you've officially aligned with a company, it helps to have this plan figured out early. Thant way you can hit the ground running when you do eventually start at a company. Keep these things in mind when designing a business plan:

• What product or service are you intending to sell?
• Who is your intended market?
• How much time will you dedicate to this? Will it be a part-time commitment or are you planning on working seven days a week?
• What is your goal? Do you want to get rich or just make some extra money?
• Think long-term. Where will you be in five years? Ten years?
• What is your marketing strategy? Will you make cold calls? Use the internet? Go door to door?
• You can update or change the plan as needed, but it helps to have a guide when you're just starting out.

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Give your team members good commissions. By compensating your recruits well, you're ensuring that they have a good incentive to sell. That way, they'll earn more money for you and for themselves. It will also help keep them around longer, which is good for you- you want to keep talented sellers on your team so keep your business successful.

• Once you have decided to join a network marketing business, first decide which company is best for you. Do market research and buy the package. Upon buying package you will get in touch with your upline who is already in the business. Follow your upline to move forward. Just remember one thing always, network marketing is an awesome business which works on the compound interest theory. Initially you will have to work hard and results are less, but as soon as you grow you will have to work less and you will earn more.

Build new leads. In network marketing, leads are potential customers. You'll need to keep finding new leads if you want to keep making money. There are various ways you can find new leads, and you should use multiple strategies to attract the largest market possible.

• Social media is a cheap, easy way to generate buzz for your product. Start a page for your company on each of the major social media sites and update them all regularly.
• Buy advertising space online and offline. Websites and newspapers can help build awareness for your product.
• Cold calling, though old fashioned, is still a popular method of finding potential leads.
• Personal interaction is also useful. Always have business cards on you and be ready to talk about your company. You never know when you may come across someone who is interested in what you have to offer.