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  1. Collapse Details
    Need Help: Network Marketing Business
    Hello all,

    Im Jay from the Philippines, recently I had join a Network Marketing Business on a part-time basis. Does anyone here who has some knowledge on this type of business ? I want to learn as fast as I can from all the gurus here


    Cheers,

    Prime


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    network marketing
    The first thing you want to do is determine is if the product or service you're trying to sell is worth what you're asking. You should also think about whether you would promote this product to your friends if you werent' making money from it. In other words, are you trying to promote the product or are you promoting the money that can be made from selling the product.


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    Hello Jay,

    Direct selling is a wonderful kind of business and properly done will generate a potential income that allows you to fulfilled the dreams you want in life. But there are many setbacks you need to check. Things like
    1. Management 2. Company Fund 3. Compensation scheme 4. Product.
    If you want to know more you can read more about network marketing.
    This book about : The Science of Network Marketing by Randy Cage with
    give you the ideas , the dos and don'ts of this business. Learn from this Guru's and it will help reduce the mistakes most network marketers makes.
    Hopefully this will be of help.
    Many thanks
    Derek


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    Re: Need Help: Network Marketing Business
    Hello,

    well, your network marketing company and your upline are responsible for your success. The company should provide you with the training and resources that you need while the upline should guide you on a daily basis through the steps that they themselves used to succeed.

    However, a significant number of network marketing companies don't do very well in this area. The end result is that people fail to realise the success they were looking for and then swear off network marketing permanently.

    You need to get the techniques that make this business work and you'll definately succeed. But check with your company if they have a resource center for theirmembers or whatever resources and training they can help you with. Also check with your sponsor and upline so that they can show you how to run your business. That's what they are for


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    Changes in the industry that affect your business.
    Market changes in the industry and what you must do to stay profitable.

    Hello Prime,

    Here are some changes that affect the way you do your network marketing business.

    1. Leading with your business opportunity no longer works.
    When you advertise your opportunity, do not make a headline like ‘best network marketing opportunity. Instead, tell them what they’ll benefit from joining your opportunity. When someone looks at any business opportunity, they look, for how it will help them get what they want. Like more time, financial freedom, be their own boss. Therefore, when recruiting, that's what you should lead with.

    2. You can't recruit in one step anymore
    These days, you can't just send out literature and get back signed applications. You have to take people through steps in order to build a relationship, trust and credibility. Remember that you're dealing with strangers here and since they don't know you, you'll have to earn their trust. Only then will they follow you wherever you lead them.

    3. You're not the only game in town anymore.
    We tend to forget that there are a lot of other companies out there. Back in the 90's there were only a few companies. That's why you could recruit so easily. Now the industry is bigger than the market such that people are approached by 5-10 other companies. You then have to stand out of the crowd. Fortunately, 99% of the competition is still marketing like it was in 1990. Once you discover the secrets, you'll still be ahead.

    Therefore, you must adapt the way you do your business or you'll be throwing your time, money and effort into a black hole.


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    The successful network marketing system
    The successful network marketing system

    Hello Prime,

    I hope you’re enjoying your new business. Well, your network marketing business must have 3 things to succeed; requirements, principles and techniques.

    Requirements

    1. The system, must exist
    If someone were to ask you to explain your business building system, would you have an answer for them? Many network marketers have no idea what that is. Even if you’re making $50,000 a month or more, you should have a clear picture of how you’re doing that. Only then will you know what to do to your system to adapt it to market changes.

    2. Keep it simple
    The system must be simple even a 10 year old can do it. Instructions must be clear and easy to follow so that you can understand it and use it yourself. But more importantly, so that the people you introduce to the system can understand it too. All kinds of people get into network marketing. You’ll want a system they can all understand. So they can see it, get excited about the idea & want to get started immediately.

    3. Time
    A good system should be something you can do part-time like 5-10 hours per week. Most people getting into network marketing want their time back. If you have a good easy to understand system that takes 80 hours per week to do, you won’t find anyone to do it.

    4. Affordable
    It costs money to run a business. You’ll get more people for a system that costs $100 per month than $1000. Especially when you show people that they’ll be making more than that amount of money. For example, if you spend $100 on advertising and get $100 in profit, you could take that $100 and do the ad again.

    5. Be yourself
    The system shouldn’t require you to change your personality, do strange things you don’t want to do. A good system fits into your life and personality.


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    Principles of a successful system.
    Principles of a successful network marketing business.

    Hello Prime,

    Here are some principles you'll need to follow:
    1. Work with people who want to work with you
    Napoleon Hill’s book Think and Grow Rich is practically a bible in network marketing. He says that friends and family are the most common cause of failure in any business. They’ll belittle your dreams because they don’t understand what you’re trying to achieve. But many companies will tell you to get them into business with you. This is a deadly route to take, a real dream killer.
    Would you rather have people who want to join your business find you, instead of digging under the rocks for them? I hope so; you then have to go where they are. How did you find out about you opportunity? Did you see an ad somewhere? That’s the approach you need to take. People are looking to change their lives. You just need to get your message out in the direction they are looking.
    What makes approaching friends and family work is trust. People make decisions basing on how they feel about the opportunity and the people they are getting involved with.
    • So, you need to expose as many people as you can to your opportunity so you find those that want it.
    • You want them to be excited about the opportunity that will build their dream business.
    • You want them to know, like and trust you enough to get involved with you.
    But how do you build rapport with people you have never met?

    2. First, help them. Second, do it often
    That is, give people something of value to them. Then stay in touch with them overtime. Give something of value, something that helps them get what they want. They want to know HOW to get what they want. People know this business works, but they don’t know how to do it.
    The second thing is to stay in touch. Follow-up with them long-term. The first time you see an ad, it may not even register on your internal radar since you see so many. But as you see more of it, overtime; it will get your attention enough to inspire a response.

    Timing, at different times in your life, you either were or weren’t ready to hear what we were saying. Sometimes prospects won’t hear you even if you blew up a cannon in their front yard and other times they are practically begging to hear from you. You will get some in begging mode, but most will be closed off to your offer. The only way to catch them when their situation changes is to keep in touch with them.

    3. Don’t scream at the deaf
    While long term follow-up gives you better chance of catching your prospects when they’re open to your offer, you don’t want to waste money. They say don’t prejudge anyone. You never know who your next start will be. On the other hand, don’t look for roses in a cornfield.
    Qualify your prospects repeatedly during your follow-up. Get info about them that says stay in touch. Anyone who doesn’t fit into these categories, drop them from your list or move them to a less frequent follow-up schedule or simply replace them with a new lead.
    There are a number of ways of doing this. But whatever the technique, you have to be clear about what you’re looking for. If you want people with previous experience, interested in nutritional products, you’ll have to find out if they are. Get them to answer questions or take an action that tells you that they fit those criteria.


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    Re: Need Help: Network Marketing Business
    Thats some great info you posted benjamin

    i have been working in network marketing for about a year now, things have been great especially learning a whole lot about the way you think is what causes your success or failure.

    I am enjoying network marketing industry

    are you involved in network marketing?

    since this is the post on marketing and advertising what advice would you give for promoting your opportunity? or acquiring leads


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    Re: Need Help: Network Marketing Business
    I'm involved in network marketing too and it's good that you find the business great.

    well, you can promote your business opportunity by advertising in classified ads online and offline.
    There are a lot of classifieds sites online where you can place your ads for free or at a fee. Now there are many companies and individuals selling worthless advertising on the internet. In any case, ‘no one advertises good advertising.’ So check out the site where the ad will be placed. If there are any networkers advertising on the site, call them and find out how their ad is doing. If you receive positive feedback, try it out. Track your results with key codes so that you can sort out those that work from those that don’t.

    There are publications that cater specifically for people looking for opportunities. Again, check that there are networkers advertising there. The rule is, ‘fish where the fish are biting’ that is, when preparing to place an ad in a publication, always first see if similar ads are already running in it. If there are, you’re probably safe to run your ad. If you see no ads, stay away. It’s a very strong indicator that your ad will do poorly.

    Card decks, these bring together advertisers looking to reach the same specific market in one mailing (deck) instead of costly individual direct mail pieces. So the 20 cents postage is cut down to 1/10th of that.

    You could buy leads from lead generation companies. But when you go cold-calling these leads, remember to ask for more referrals; ask for the names and contacts of people they think might be interested in your opportunity. That way, you still win even when they decline your offer.

    You could buy mailing lists for direct mail and for email marketing campaigns. Networkers and business opportunity promoters use ‘response lists’ mostly because their offers will reach a targeted audience specifically interested in a money making opportunity. They are built from advertising and direct marketing responses. They generally have newer names and will be more responsive.
    But don’t let price determine which list you buy because it may be cheap upfront but it may give you 300 bad addresses out 1,000 and you may not sign up anyone.
    Ask them how their names are generated, how old they are. If they can’t tell you, then they probably got them from some other broker and don’t know how they were generated or how old they are.
    Make sure the company rents their names for one time use only rather than sell them because they are sold several times and the people on them receive 20 or more offers a week. Some companies claim their names have never been used nor will they be used again. That’s not true. A responsible mailing list company will ask what opportunity you’re promoting and tag their names so that they are not used again by other distributors promoting the same opportunity.

    Co-operative advertising, allows you to take advantage of a major marketing campaign without putting a major dent in your wallet. It’s a group of people putting money together to place ads then share the leads. By sharing the costs, you can place more higher quality advertisers for very little out of pocket money.
    You’ll need to check with your up line on this, or work with your down line. Putting together a co-op can overwhelm the average networker, but there are network marketing support companies that can help you with that.


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    Re: Need Help: Network Marketing Business
    More principles for your business

    4. Profit from your prospecting

    Get a good front end product you can sell and you’ll get heard through all the noise of everyone yelling ‘my company is best, my product is best.’ You make money from orders of your product. Then, you have your network marketing opportunity and/ or products to sell to your customer on the back end. That is, you make money upfront from direct response ads for products, then you make money on the back end from your network marketing program because once they’re customers you can easily introduce them to your opportunity.

    5. Tell me how to

    What’s a good front end product? What do people want to know? How to… be more successful, make money, retire early. The best front end product is a unique ‘How to” product that for example teaches you how to succeed in network marketing. Show someone your special system for success. If you don’t have one, find someone who does and sell that.

    It also makes your advertising self-funding. An ad for $1000 making $2000 in front end product sales gives you $1000 for the next ad and so on. If you use you network marketing products and business as a back end, each new ad creates product users and business partners without costing you any money.

    6. Put your front on your back

    Since it takes 5-7 exposures to make a buying decision, combine your front end offer & long-term follow-up. So, when you get a lead that you follow-up with, send them the valuable information that helps them become more successful and that builds a relationship with you. And include the ad for your front end product.


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