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| Source: Unsplash- Austin Distel |
I first stumbled upon network marketing back in the
year 2007 or there about. In a foreign environment and with very little to do
on hand, browsing the internet was my favorite pastime. I used to be on the
internet most of the day. My sister would drop me at the nearest affordable cafe and make arrangements for me to be picked up at the appointed time. This used
to be my daily routine.
It was at this time that I came across two guys
on the internet who were willing to come and demonstrate their business at my place of
residence. At the request of one of the guys, I invited and put together quite
a sizable group of people. We eagerly waited for some time, and then the
network marketing guy showed up with his merchandise. He explained what his
business was all about and we sampled some free products - what nice products
they were!
I should have been the second if not the first
affiliate to bring that herbal company to Zambia but I remained ‘on the fence’
for so long a time that I missed the opportunity. I attended seminars and came
across marketing terms like up line, down line, residual income, hierarchy,
binary bonus, etc. I had such a wonderful time but finances were not on my side
though I paid up the membership fee. I wish I could ask for a refund!
What
is network marketing?
Network marketing or multilevel marketing (MLM) is a
business model anchored on creating a distributor network of affiliates.
Invariably, it requires a low start-up fee and/or investment which are normally
paid upfront before one becomes an active member. Business partners are more
often than not required to recruit sales representatives to make up their own down
line in the business pyramid.
In case you would like to have a feel of what online
network marketing is all about and learn how it is actually carried out in real
life, this company will give you a head start. They don’t ask for anything else from
you other than your commitment and willingness to learn. As you implement what you learn, you earn points.
It is quite obvious that more and more scammers are
targeting people in developing countries who are in desperate need of
jobs or alternative sources of income. Once such people understand how network
marketing and kindred online businesses operate, it will become easy for them to
minimize chances of being ripped off.
What
should you do before joining an MLM business?
- Identify the niche or area of the business that you are interested in
- Research on that niche so that you understand it perfectly well, then investigate and pick a company that you can join
- Ensure that the company is well established and is there for the long term
- Consult stakeholders on the performance of the company, their norms and values
- Know the products and/or services they offer
- Look up the leadership of the company
- Go through and have a good grasp of their presentation, compensation plan and other business literature, like their product manual
- Always go for free membership or the cheapest product sample kit when starting and then upgrade after testing the waters
- Join online affiliate groups and read/watch reviews to know more about the business
- Make sure that you are aware of and comfortable with the role you will be playing
- Ascertain that you understand what you are going into then sign up
- Company offers low cost start-up package to get you on your feet. You can start most of these businesses with very little capital
- You become a business owner once you signup to promote/sell subscriptions or products
- You then start selling a company’s products or subscriptions on commission. You may also buy products on wholesale price and resell them at a higher price
- Network marketing companies rarely spend on advertising. They sort of bank on the influence of the affiliates to grow their business by word of mouth and through interactions on social media
- As an affiliate, you get paid every time you or your down line makes a sale or recruits someone
What
and how much effort can you put in?
- Invest time in learning about your business - attend seminars and webinars, join affiliate social media groups
- Choose a dependable and experienced mentor
- Have the gumption - be passionate and optimistic about your business. Know it like the palm of your hand and have a winning attitude
- Sell and make money
- Recruit to grow your network and earn both leveraged and residual income.
- If you are committed, network marketing can be quite lucrative
- Build new leads and follow them up
What
should you note or watch out for?
- Learn how you can tell genuine MLM businesses apart from fake pyramid schemes
- MLM businesses are genuine enterprises that sell different types of legitimate products
- Pyramid schemes are illegal investment scams which are built on the same principle and structural framework of network marketing but do not sell products.
- Scams make revenue by inducing prospects to join their business hierarchy
- Affiliates are often ignorant of the fact that they are part of a scam until it is too late.
- Only the topmost leadership or founders at the very apex of the pyramid know the real nature and motive of their business in most cases.
I hope what has been discussed above will give you an upper hand when you contemplate joining the MLM industry and help you come up with
a well informed decision.
All the best in your endeavors!
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Disclosure:
This post contains affiliate links by which the author earns commission at no cost to readers
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