Multi Level Marketing (or MLM) or Network Marketing can be a very powerful and profitable business if you know how to do it right. This business doesn't have a limit on how much you can earn. It can also be expanded overseas and across the continents. Many MLM companies are now going international.
But unfortunately, more than 95% of those who started in network marketing failed miserably, only less than 5% succeeded in this business. Some people are successful for a while, but then it slowly dies off.
In this article, I will share with you 7 proven tips to keep your network marketing business alive and going strong.
1. Have a goal! Many network marketers when asked why are they doing this business, the answer is almost always like the following... "I am doing MLM to make money".
Yes, you are into it to make money, but you need to have a goal that can actually be written down specifically and realistically. Your goal must also be achievable and you must also write down the exact steps you need to accomplish your goal. If you don't, you won't succeed period!
2. Be realistic about your goal and about your income possibilities. There are a lot of network marketing programs on the internet and many of them make unrealistic claims. So when you are looking for a network marketing program look for one that has realistic claims and with which you can earn a realistic income. Remember this advice: "If something sounds too good to be true, it probably is".
3. Look for a network marketing company that has a good reputation - both in term of market and products. You don't want to join a company that exists today and gone tomorrow. You must investigate the company backgronds and its reputation. Ask yourself these questions: "Do you want to buy the product?"; "How does the product benefit you?"; "Can you live without the product?"; "What makes you want to buy the product over and over again?"
4. Can you trust your upline? You see, network marketing is a team business. In order to succeed, the relationship between you and your upline must be strong. If you have a weak upline or someone who doesn't really care about your success, then this will trigger downward. If there is no good team spirit or relationship, it will be extremely difficult for you to build a strong network.
5. Communicate with your team members. One reason that people fail is that they don't communicate with their team members or offer them help in any way. If your team know that you are there to help them and give them advice then they are more likely to work hard at making the business successful. Good communication with your team is essential for a successful network marketing business.
6. Make your downline successful. You see, the success of a network marketing business is driven by a strong network of people. The only way to build a strong network is to make sure that the people below you are successful. If they are successful, you will be successful too. If they fail, they will just quit and you need to find new members. So, make sure you empower your downline, teach them how to build a strong network below them. When they have a strong network, that network is within your network so you will benefit greatly as well.
7. Don't start to relax once your team starts growing. Too many network marketers think that once they have a few team members then they can sit back and let their team do the work. You won't succeed if you do this, your team needs to see that you are active in the business otherwise they might stop working too and then your business will fall apart.
As you can see, network marketing business does require you to work hard as well (just like any traditional brick and mortar business). But the power of network marketing is in its 'network'. Once you have built and nurtured a solid network, they will grow very quickly and you will get to enjoy the leverage and reap a good profit. However, building a solid network requires hard work and it is not built overnight.
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