Network marketing is probably the easiest and most popular way in which to start a home based business. It requires considerably less initial outlay than a traditional bricks and mortar type business and has traditionally created many millionaires in the past, present and future.
Although it is very easy to see the income potential in these types of home based businesses, somehow when people actually realise what is involved in building a downline and creating a team the initial enthusiasm dwindles away and they get overwhelmed by the task in hand.
Although your success is 100% reliant on you, here are some vital tips to help you guarantee that you at least give it your best shot and are prepared to make the commitment required to make sure your network marketing business is a huge success.
1. You are going to need desire. If you believe that you are destined to work for a boss you usually hate, work longer and longer hours behind a desk or on the factory floor being paid considerably less than your worth then go ahead and wait for the golden handshake and hope your pension fund makes it through the next stock market crash. Desire is fuel for never giving up on the freedom to choose the entrepreneurial path and taking the road less travelled.
2. The right business model and a true understanding of how your dream income is going to appear in your bank account. Know your numbers, understand your marketing statistics, and learn the life time value of a customer in your business. No other business model pays you a residual income every month, that is where the freedom lies.
3. Unique products or services that are in demand right now. There are a lot of great compensation plans, innovative health products, miracle skin solutions, juices and pills, but your product has to have something that will keep people coming back for more month on month for your business to be successful. Find out from your company what the average amount of time people stay in your business before jumping in.
4. Learn a valuable skill that will help others build their business. The trend in online marketing is here to stay, in fact it is still in its infancy, if you are prepared to learn new skills that will bring value to your marketplace you will get paid for life for having a valuable skill that is in demand. This is far more important to your success than your product line.
5. Network marketing is about leadership, it is a recommended business model by the likes of Robert Kiyosaki and Donald Trump because of its emphasis on personal development. You will have to spend at least 30 minutes per day on developing your character, honing your attitude and becoming a better communicator in addition to building your business. All leaders are readers.
6. You will get a lot further in your business if you plan on being in the same business in 5-10 years time. The Internet has presented the greatest opportunity of all time for a solo entrepreneur to create success in themselves and in their business. Building your own brand has never been easier than it is with online lead generation and tools like video, pay per click and banner ads to name a few.
7. Success in network marketing is a lot easier when you have the right tools to do the job. To find greater success in network marketing you should think past the initial sales process and plug into a system that is designed to not only train you, but also train your downline.
8. You will find the biggest battle you have is the one with yourself. Self belief, confidence, fears and mindset are the hardest hurdles to overcome bar none. The only way you will ever overcome your own paradigms is to spend more time around successful people and find out what they do differently. In these digital times, this can mean listening to training calls and MP3 recordings that will make you think differently. Understand that this process does not happen overnight and that there are no short cuts.
9. Create a plan, based on your numbers and then take the approach of what I lack in skill I make up for in number. Traffic is king on the Internet and there are no shortages of leads online every day. To be really successful in this business talk to lots of people.
10. Separate yourself from the crowd of XYZ distributors for XYZ companies. Your business should be exactly that, your business and your network marketing business should just be an element of your business. By investing in yourself, developing your skill set and your mindset and committing to the long term you will significantly increase your chances of lasting success.