Understanding network marketing business system

“Never before has it been so easy to become rich,” Robert Kiyosaki author of Rich Dad Poor Dad said. There is so much truth in that. The 21^stcentury economy is one that brings greater challenges as well as opportunities. One such opportunity is the network work marketing. Network marketing is a business system that involves thousands or even millions of independent distributors who sell a company’s product or service. One of the famous networks marketing business system in PNG is the Proma Systems. The company has come to be recognized as household name, distributing cosmetics and performance products. There are others like Qnet and Anion.

How does the network work marketing system work?

Different network marketing companies have different ways of conducting business. I have joined Qnet and Proma in my early years of business and investment ventures. Though I never did create more wealth using the system, I benefited a lot from the education I received from my mentors. I began my own research into the network marketing industry. I finally began meeting the leaders of some of the businesses. The ones I met were some of the most intelligent, kind, ethical, moral and professional people I have met in all my years of business. I met people I respected and related to. I had found the heart of the industry. What I learnt is worth sharing so here is the hub that takes care of that.

Those that we signed up together with decided to keep it simple by growing their wealth using network marketing. I after getting educating myself, went out to build my own business and my Finance business Leverage Finance uses affiliating marketing techniques I learnt from the network marketing companies to build the membership.

In case you may be asking why I left network marketing yet recommended it here as a vehicle for wealth creation.

For those new to network marketing, outline here are general steps you can follow

1.      Enquire about the network marketing company you want to join. Do thorough background research. Ask: Are people really making money from this system.

2.      Sign up by buying a product from the network marketing company. In my case, I bought $400 Swish gentleman watch from Switzerland.

3.      You are given your membership number or ID Code. This is the code you use earn referral commission when you sign up new members under you.

4.      Meet your up liner or the person who signed you up under him. Note that it is vital for you to continuously attend the training sessions provided by your mentor to master your business and leadership skills.

5.      Starting selling or recruiting new members for commissions.

“If you don’t understand how the business makes money, don’t invest in it” Warren Buffet.

Many friends ask me “what is the best network marketing company I can join?”. When you a network marketing business system, you actually buying a business. That doesn't guarantee you any success what so ever. Don’t be fooled as there are just as many scam business systems disguised in the cover of networking marketing as there as good ones. That’s why you have to consider the investment Guru’s advice. Only buy the business you know how they make money.

Network marketing success

Great networkers identify the things that work for them and do that consistently. Not so great networkers tend to be a little hit and miss with their systems. They business may be facing a quit patch, so they start to network-attending functions, sending press release etc…As a result they become busier and busier without achieving result.

Network marketing has more to do with your planning and execution of your plans and duplication plays a major role in the success of network marketing systems.

Great networkers

1.      Give without expectations

2.      Do things for others-not to get something in return

3.      Have abundance mentality-

4.      Believe in making a bigger pie for everyone by giving away referrals

5.      Have wealthy and positive mindset

6.      Willing to face blunt rejections

7.      Confident and persistent and passionate about their life goals

Characteristics of great networkers

Obviously if you one to do well in this business system, duplication is key as I said earlier. These are the key traits you need to develop to do well not only in network marketing but also in your other business

Why network marketing?

Rich people look for, or build, networks while everyone else just looks for work. And network is just about the most important word in business. I believe the industry should be given an objective look by people concerned about doing business in the future as well as concerned about their own personal financial future.

Statistics show that 9/10 business fail in the first five years. Ever wonder why? One reason is because the teacher that taught you business in school has no real life business experience. He is a paper business man. In network marketing, the people at the top who teach have to be successful in the real world, or they would not be at the top. In the world of traditional business schools, you do not have to be successful in the real world of business to teach business. That is why instructors in the traditional world of business education do not earn as much as some of the instructors in the world of network marketing education.

Some of the more important real life business subjects network marketing programmes teach are:

1. Attitude of success

2. Leadership skills

3. Communication skills

4. People skills

5. Overcoming personal fears, doubts and lack of confidence

6. Overcoming fear of rejection

7. Money management skills

8. Investing skills

9. Accountability skills

10. Time management skills

11. Goal setting

12. Systemization

Summary

Don’t join the system until you fully understand business system or opportunity offered. If you are sure its legitimate, after doing your own background search and not relying on the person who wishes to sign you up….THEN TAKE ACTION. Sign up and start selling and recruiting to make money.