Network marketing or Multi-level marketing has gotten quite the negative press over the last several decades. Some of it is fair and some of it is not. Let’s look at the people who start a network marketing business or multilevel marketing-based business. Most people that get involved are house-wives or folks that already have a job and are looking to create an additional income on the side. They have the mindset of an employee and not a business owner. Granted, network marketing doesn’t take as much money or time like a traditional business but it certainly requires the mindset of a big business.
A network marketing business “professional” is someone that can put people before profits because they understand that investment in people is the best investment over any physical assets. Long term success of the business depends on building a large network of people who are duplicating what you are doing. A network marketing professional has to figure out how to lead themselves so they can overcome their own challenges, get out of their comfort zone and become a leader. This is why education, coaching and mentorship are crucial. A leader is someone that leads by example, and in network marketing that means they have to figure out how to support their business by purchasing products from their own business and develop a few customers. Once they can successfully do those activities they can then bring in people who can duplicate them. Very few people are born with leadership qualities and it's not something anyone can learn overnight. It takes education, practically applying that education and having a mentor show you how to fix your blind spots over an extended period of time to become a leader. When someone doesn’t have the business mindset or leadership but they expect to make it big in network marketing it doesn’t work. This is exactly the scenario with majority of the people that get in and get out of network marketing.
On the other hand, we also have people who get into network marketing and push people to buy products or force them to join them in their business. This happens because folks that come from an employee background don’t have the communication skills, people skills, leadership skills, business skills or the common sense that is required for them to succeed in a network marketing business. They use brute force to try to get what they want. This type of behavior hurts the network marketing company community rather than the individual who exhibits that behavior because people don’t remember what the name of the person who treated them badly was. All they remember is that the person was associated with network marketing. Unfortunately, when people associate that bad behavior with network marketing as a whole or the network marketing company itself it gives the industry a bad rep.
Let's look at how at some critical aspects that can determine your success in that type of business.
In reality most network marketing companies have excellent products when compared to what one can buy outside in general market so it's usually not a product issue. You want a company that has a diverse range of high quality products that people buy often and not one thing that you need to convince your customers or team members to buy. When you have only a few products and those products are not something people would buy on a day to day basis, it makes it very difficult for you use it yourself and to sell it someone else. When you cannot do it, it's hard to duplicate or teach that to others. You cannot sell a product that you don’t believe in. This is a major problem with many individuals who get involved in network marketing. They want the money but are not as excited of the products and don’t have a great personal testimony for the product that they sell. Second let's talk about the network marketing companies that sell these products. As long as the company has been around for more than 40 years and is not listed in the stock market it's usually a good sign. You don’t want stock holders controlling the interest of the distributors who are building the business and you don’t want to work with companies that have not demonstrated they can survive economic ups and downs over several decades.
Next let's talk about learning or education systems associated with these companies. Most folks that get involved in network marketing come from an employee background and have no experience building a business. When these people get involved in a business they expect to make money from day one and don’t understand working with people, sales, investment mentality, coaching, leadership, being all-in etc. that are key skills for a successful business owner. Developing the mindset and skill set we just talked about is the extremely critical and it is not something you can do by picking up one book. What is required is a continuous education program that helps you improve yourself over several years. If the personality development program that is associated with a network marketing company is not good enough chances are you will not succeed in that venture. You can determine how successful the education system is by looking at the track record of how many people have become financially free and for how long using that system to change themselves. Network marketing business doesn’t require big investments in time and money but it still requires a business owner to operate and succeed in it. You need access to a successful professional or self development program that can mold you in to a leader and a business magnet.
Let's talk leadership in the context of network marketing. Network marketing can be summed up in three sentences. First you change your buying habits or support your own business, second you develop some customers and lastly you duplicate/teach what you did and build a team. Many a times you will notice new business owners trying to sell the products to people they know without learning more about the products or using it themselves. How can you tell someone that something is good when you are not sold on it in the first place. More than leadership this shows lack on integrity. What most people don’t know is that what sells the most is your personal testimony not the contents of the product or features of the product or how cheap the product is. Easiest tip is to try not to sell what you have not used, your customers can easily see through you and can figure out that they are being sold. Trust me, nobody wants to be sold, they want to buy and there is a big difference between the two. People trust people who they know more than what they see on TV or radio. As a network marketing business owner you can take advantage of that but you'll have to be genuine or you wont be taken seriously. Building a team is all about helping your team members accomplish their goals while you set a great example for your team. Focus on developing leadership by actually trying to a build a team and leading them while you focus on learning and growing yourself with the help of your coach.
Finally lets talk about coaching and mentorship. We have so many blind spots whether it's relationships, business mindset, people skills, communication skills or leadership skills just like how we have blind spots when we drive a car. Who has vested interest in your success and the ability to coach in you these areas? For most people in network marketing it's usually someone advising them with one or the other capacity or neither (think room mate, parents, co-worker or someone new to network marketing). If you can find an answer to who can help you (someone who has already had success with network marketing) and who wants to help you, you found the right mentor. Network marketing mentors win when they help you win since they earn a small percent from your success. I always question someone that gives free advise since they have nothing to lose with that advise. My mentor always says be aware of opinions, because opinions are like arm pits, everyone has a couple and some of them really stink. I truly believe without the right coaching and mentorship most people just end up wasting their time and money in network marketing or they might get lucky and build a small retail business but will never build a big business and fulfill their dream of becoming financially free.
If you feel like you can relate to this blog, you have come to right place. Reach out to us and let us help you find the right opportunity and/or mentor you to build a successful big network marketing business.