What is network marketing? Many people seem to have a different definition.
Some people say that it is a business that is all about sharing. Others say that it is a business that pays you a multi-tiered form of compensation. Many seem to think that it is a form of unethical pyramid scheme!
I, on the other hand, see it as a system that allows you to move products through a large network of distributors and customers. In other words, network marketing allows any person to be in a business for themselves but not by themselves.
Network marketing requires you to do the following:
- Generate leads for your business
- Prospect those leads
- Build a solid relationship with them
- Sell products and services with them
- Train them to duplicate your system
What defines network marketing is the fact that it is a business of moving products. In order for you to move products effectively, you must generate leads to accomplish that. But in order to ‘sell’ effectively, you must make sure you spend time generating the right kind of leads rather than useless leads who are not interested in consuming or moving your product.
Once you have found the right kind of leads, you must engage your leads by sharing your business opportunity with them. But don’t just talk their ears off. You must first listen to what problems they have and provide solutions to their problems with your business opportunity.
Once you have developed a good relationship with your lead, you can start training them to do the same thing through duplication. Duplication is perhaps the most important aspect of network marketing.
In order for your prospects to duplicate your success they must be taught how to. So basically, network marketing is also a business that involves teaching. By teaching your prospects effective duplication you will ensure your success as well as theirs. Not to mention that by doing so you’ll make your life a whole lot easier.
Yes; moving tons of products, all by yourself, and becoming a sales superstar is admirable but it isn’t needed. Most of the times, you will work to the point of exhaustion if you do not leverage the work of others.
When you learn how to leverage other peoples time and expertise, you will be able to function better as a team rather than doing everything yourself. Remember, you are building your own business but you are never alone in network marketing.