PROSPECTING METHODS IN NETWORK MARKETING

A prospect can be described as 'likely customer'. A customer who may be interested in buying something. In Network Marketing parlance, the art of prospecting is a core value of the success of a networker. It is one of the functions of a network marketer to invite more people into the network. Prospecting is a critical factor of which the success or otherwise of a networker is based upon. If you are successful at prospecting, your network will definitely grow, on the other hand, if somebody is deficient at working hard towards prospecting, the result is a deficient networking reality. 

Many people are scary of introducing someone to a company's product line or opportunity. It is understandable also that most new network marketers will have some apprehensions about introducing the business to other people. However, with practice, these apprehensions are put to the background. Practice definitely will help to increase your confidence level and every prospecting conversation can be an improvement over the last one. The beginning fears will soon dissolve into the comfort of a normal routine as one progresses in the art of prospecting.

Prospecting Sources:
Traditional prospecting method teaches us to start prospecting through our 'warm market' or our circle of influence. This includes family, friends, acquaintances,  associates and business contacts. Basically, anyone you know or know of. This methods recommends making a list of these names and then present the opportunity of your networking business to them.

http://www.spotwriters.com Another technique to create a list of prospects is to use a 'memory jogger' like the yellow pages. You can think in term of occupations and affiliations. For example, lists that include professional acquaintances , business sources, former school classmates, clubs, church groups, networking groups and all other organizations where people come together in community. However, the drawback to this approach is that until you have proven yourself successful in this business, it is often uncomfortable or distasteful to 'hound' friends and relatives.

Some more prospecting methods will be shared in the next post. Happy Day!
PS. your comments are welcome please.

HAVE YOU BEEN DISAPPOINTED BY A PAST MLM COMPANY? 4 MOST IMPORTANT LESSONS TO LEARN

During my Teacher Training College years between 1982 and 1985, one of the most compulsory subject for an aspiring teacher in the college was 'Principles and Practice of Education'. It is a subject on which the totality of teacher education is anchored upon.
One of the topics in PPE as we do call it is 'Learning'. What then is learning? Learning has been described as the acquisition of knowledge or skill. It is a knowledge or skill gained through education. However, to us as teacher-in-training, a more detailed definition was given which I think takes into consideration elements of psychology of learning.

Learning was defined as 'any permanent change in behaviour as a result of past experience leading to someone behaving differently given the same scenario in the future'. You will wonder where I am heading to in this post. It is simply because we learn everyday. We acquire knowledge and skills everyday. We experience different realities everyday. Some of these experiences are palatable and heart warming while many others are heart breaking and disturbing.So is the journey inside the vehicle of Network Marketing. We are exposed to divers of experiences. We learn some bitter truth in hard ways as well in some situations, we experience bliss of great magnitude that one could hardly think it is possible on planet earth.

What is your past experience in your previous MLM opportunity? Have you been disappointed? Have you worked assiduously in the past only for you to be frustrated by the system of the company you partnered with? My observation recently has shown that out of every ten people that are interviewed on their past experience in their previous network marketing company, seven have not-too-good experience from their expectations. They are either frustrated, disillusioned and simply quit. Asking such people to come and join your network will spontaneously and instantly generate a negative reaction. They have learned the hard way. Their experience had shown that they will react differently to similar situation next time.

Learning is a lifetime education.There are four important lessons to learn so as to reduce network marketing business frustrations:

   1.    Understand Your Strong 'WHY'
   2.    Handle Your Networking as a Real Business or Profession
   3.    Research Well The Company To Partner With
   4.    Understand What Network Marketing is NOT

You must have a strong 'why'. A kind of motivation that drives the best out of you. A determined heart to achieve a set goal and a clear understanding of genuine reasons for desirable success.

It is ideal to handle one's networking business as a real business or as a real profession. Most of the time, we give our regular day job the seriousness it desires despite being not convenient to do, but we do the inconveniences. For example, we wake up early in the morning and commute to work place so as not to be late. We carry our assignment on with precision as any deviation will warrant sanctions. The same way we should handle our network marketing business as a profession. Prospecting must continually be done whether convenient or not, follow-ups of prospects, desire to help people are all the ingredients of success in network marketing.

Another key lesson to learn is the ability to conduct a due process assessment of the company to partner with. This was highlighted in the previous post. Some 'old school' network marketing companies have great products but bad compensation plan. Independent distributors find it hard to grow in some organizations and many more have their system skewed to favour being perennial salesman with little opportunity to grow. The main fact is that, you must do your research very well and be sure the company is solid, experienced, distributor friendly, and futuristic in mission advancement.

Finally, it is necessary to understand what network marketing is NOT. Understand what network marketing is not. Network marketing is not about Selling Products or Earning Income! It is not a selling business. This is because if you stop the activity, the income stops. Being successful in network marketing does not mean being 'great at sales'. The main focus is not to sell a product but to build a network, 'an army of people who are all representing that same product or service to share with others'. 'The goal is not for you or any other individual to sell a lot of products; it is for a lot of people to be their own customer, sell and service a reasonable number of customers and recruit and show a lot of other people how to do the same thing'. Like I said before, networking success is about duplications.

If you have been disappointed by your past MLM experience, this does not mean network marketing business is inherently bad, in fact the opposite is the truth. Do not close your eyes to another opportunity. Network marketing opportunity is the best gift of the 21st century. A great deal of learning will however make the navigation to success easy to achieve. Do you share my opinion? Hit the comment box to express your view. Set the conversation rolling.

Network Marketing Business Blog: WHO IS FEARING NETWORK MARKETING BUSINESS MODEL? -...

Network Marketing Business Blog: WHO IS FEARING NETWORK MARKETING BUSINESS MODEL? -...: Success or failure of a network marketer could also be attributed to the dynamics of the company being represented. In the last post on this...

WHO IS FEARING NETWORK MARKETING BUSINESS MODEL? -PART 3

Success or failure of a network marketer could also be attributed to the dynamics of the company being represented. In the last post on this subject matter, I delved a little bit into individual efforts required to succeed in this business.

However, experience has shown that the making of the organization has a lot to do with ability of its distributors to succeed or not. What are the peculiarities that a potential member should check well before joining the company?  This can be divided into different sections as below:

1. Company Structures
2. Company Products and Effectiveness
3. Company Compensation Plans
4. Company effectiveness in trainings and response to members concerns.  

Is the company structure solid or is it a bogus smokescreen window dressing type? How effective are the products and subsequent product effectiveness? Is the product a type of product that consumers will seek to have even if there is no network marketing options? Do the company effectively have on-going research plans on a continuous basis?  How people friendly is the marketing plan and the compensation plan? Is the compensation plan structured in a way to ensure distributor success or is it skewed in favor of early members in the network? This issue alone make many people in network marketing business hate anything bearing MLM today.

Most peoples' efforts were wasted due to the impact of not-so-friendly company marketing plan and compensation policies. Many companies made their distributors perennial Sales Representatives without much to show for the efforts. In frustrations, they quit and all their previous efforts only benefit their uplines.   There is a great need to verify the company you want to partner with before making your decision. Go online and check their website. Check the product testimonials, check how long they have been in business, check if they have weathered the early storm of growth before venturing overseas to launch their network marketing business.

It is a common thing today to find some companies less than two years old planning to launch in 100 countries within months. Beware and do your due process investigation before making your decision.

Finally, check out if the company is ready to give you seamless trainings to turbo-charge your efforts. Training is one of the key positive benefits derivable from Network Marketing business model. I believe if all these factors are put in practice, network marketing business success will be a reality faster than expected. Network marketing business model is expected to give a sort of 'LIFE SKILLS'. In network marketing, you 'earn while you learn'.

I will like to end this post by quoting a passage from Robert Kiyosaki's book- The Business of The 21st Century......''in network marketing, the training is more than theory; it's experiential. And regardless of whether or not you reach the top of the specific program you're in or make a great deal of money, the training itself is of tremendous value for the rest of your life. Many people actually end up in other businesses where they become very successful due to the business training and experience they first received in their network marketing experience''.  I wholeheartedly agree to this postulation. Do you? Your comment and experience in any previous mlm is welcome. Let us share it in the comment section. See you in the next post.


   

 

WHO IS FEARING NETWORK MARKETING BUSINESS MODEL? -PART 2

In continuation of our discourse of last post, I wish to submit that many people are really afraid of the concept and practice of Network Marketing. This is not supposed to be so. In fact, in my opinion, network marketing home based business opportunity should be embraced. However, in this post I will briefly describe the fear based on individual personality scenario.

The success or failure of a person in networking business as I postulated in the previous post could result from an individual actions or inaction on one part, and the company being represented on the other part. Let us discuss the impact on individual part in this post first. To succeed in the business of network marketing and individual must balance the following elements of success positively and realistically:

1. Understand what you are going into and determine to excel in the business. Many people do not take time to study what it takes to succeed in any business. Network marketing is not an exemption. It is imperative to take the time to examine and analyze what it will take to succeed in this business. Otherwise, with a little challenge, one will be disillusioned and quit.One of the most common early challenge of a networker is the fear of rejection. However, rejection is part of the game plan of success in networking. It should not be feared but recognized and it ought to strengthen ones resolve to succeed.
2. Do not just follow the crowd: Base your aspiration on a solid desire to be a winner. Some people just follow the crowd without proper perception on what it takes to succeed. Maybe because somebody was seen to have made it in networking business and without bothering to analyze the person's success factor, and what to learn in order  to achieve success.
3. Understanding your WHY. A networker must have a strong why. Understanding your why is one of the reason that will keep you going even when the terrain is tough. Persistence and strong desire for success is an element of winning a battle in Network Marketing. Is your why based on having a home based business that will enable you to have more time with your family? Is your why based on the need to be financially independent and free from poverty and penury?  Is your why based on getting out of paid employment with its attendant problems? A strong WHY keeps one going to navigate the storming sea of success.

I will like to end this post by quoting some of the writings of one of my mentor-John Di- Lemme: ''The industry of Network Marketing will allow you to achieve all of your goals, dreams and desires. There is no limit to your income, and financial freedom can be attained in two to five years. is it easy? No. You must become a success-driven entrepreneur, surround yourself with champions and flood your spirit daily with positive personal self-development and motivation. You will pay the price for your success by handling objections, dealing with rejection and facing failures. The key is to never give up and continue to forge ahead towards your ultimate ''Why'' in life.'' 

Are you still fearing Network Marketing business model? Remember somebody's definition of fear....FEAR....False Expectation Appearing Real. The sacred word said you are not given the spirit of fear, so have no fear, be courageous and victory is close by.

WHO IS FEARING NETWORK MARKETING BUSINESS MODEL? -PART 1

A wise saying says 'The fear of God is the beginning of wisdom'. Whether you are a believer or an atheist, a careful observation of your environment will reveal that some other powerful force operate the world of creation.

My first stint with Network Marketing business was in year 2005, I was working in Aba (Abia State of Nigeria). I joined a network marketing company making waves at the time and just thought it is easy free roller coaster to wealth. My job did not allow me to attend opportunity meetings regularly or I did not really deeply appreciate the importance of attending Business Meetings then. What is the result? Negative impact. Lack of focus. In Network Marketing, what you sow is what you will reap.

Who is fearing Network Marketing business system today? The truth is that MANY people do.
However, I have observed the response of three great world personalities speaking on Network marketing business model in resent past. Robert Kiyosaki, Bill Gate and Donald Trump at different periods in recent past expressed the opinion that given the opportunity to start their business all-over again, they will start with network marketing.  What are these stupendously rich Americans seeing that we are not noticing?

The fact is that network marketing is a great business system that can make a person live the life of his or her dreams. However, a great price has to be paid. The price of Focus, Determination, Creativity, Skill acquisition, desire and many other essential success factors.   How come only 3% to5% success rate is mostly recorded for people that venture into Network Marketing? Why is the success rate so low? Won't people get afraid of this statistics too?

Answers to the above posers will be made in subsequent posts. However, the cause are multidimensional. Some originates from the personality venturing into the networking business, others have to do with the company being partnered with. I will delve more on this in the next post. Watch Out!   

Excellence In Network Marketing- 6 Tips of Success

 It is possible to achieve excellence in Network Marketing. However, to succeed in any endeavor, certain course of actions should be taken. Nothing good comes from inaction. Network marketing is not an exception. What you sow in multilevel marketing is definitely going to be reaped.

Here are SIX TIPS of success if you want to achieve excellence in your network marketing home based business:

1.   Set Short-Term and Long-Term Goals.

     Goals are your aims. What you desire to achieve within a specific period of time. You must therefore set a specific and clear goal. Short term goals are usually between 30-90days up to 18-24months. Short term goals will motivate you to take timely, periodic and prompt actions now to turbo-charge your networking business. Long term goals (2-5 years) will help you to stay on track and not get down if something goes wrong.

   

    2.    Belief you CAN.

     In network marketing business, no serious progress can be achieved without a strong belief in yourself. Belief you can achieve success and feed your mind with positive thoughts of a winning mindset and you will see that the CAN do spirit will make your success route short to attain.

    3.    Work The Plan.

     Have a plan that is congruent with your goals and have the work ethics to follow through with your plan. Build your plan around personally sponsoring new distributors every week consistently. If your are doing your network marketing business part time, have a plan to sponsor new distributor like one to three weekly and if you are on full time, sponsoring three to five persons per week is a realistic plan.

     4.   Don't Reinvent The Wheel.

       Network Marketing is system driven. Most companies have an existing system that works and as long as you follow it, you will definitely see results.

     5.   Lead By Example: 

 Network marketing is about people. It is about relationship. it is about being a dependable leader in ones network. Therefore, always lead by example. Let your team see you as an able leader. Let them believe in your ability. Lead them with passion, compassion and humility. Be a leader in deed. 

     6. Have Fun and Enjoy The Process.

Network Marketing should be fun despite the challenges being faced on the business model. You must be looking for the good in every situation. For instance, rejection is number one discouraging factors that affect many new network marketers. However, the best way to handle rejection is to stay positive minded. To note that rejection is part of the business realities in network marketing. You should have fun and enjoy the process of network marketing business.

What Is Network Marketing?

Networking is People Business.

It has been stated that 'word of mouth' is the best form of advertisement. All sales and marketing management professionals agree to its truism. How do we then define network marketing?

I will love to define Network Marketing as the orderly word-of-mouth distribution of products and services directly from the producer to the consumer.

However, as the products or services are purchased, the distributors responsible for those orders are compensated through multilevel in their organization. Hence it is also referred to as Multilevel Marketing. Network marketing is a business model being adopted by organizations as a means of reaching the target market envisaged by the company or organization. It is however based on the fact that budgets for advertisement and ancillary expense that could be channeled into the normal chains of distribution is shared to the independent distributor who generate more sales or leads into the system. In network marketing, the success of the independent distributor is contributory to the over-all success of the company.

More information on Network marketing model will be shared in subsequent posts.