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Friday, August 26, 2011
Wednesday, August 24, 2011
Understanding Network Marketing
is that it is a method of marketing that utilizes independent representatives to reach potential customers that a company otherwise would not reach with traditional online or offline marketing methods.
How it works:
network marketing.
The DSA reports that there are over 13 million people in the U.S involved in direct selling.
You do not see them but they are everywhere, some probably right in your own neighborhood. It is a business in which common people can invest a small sum of money and rise to staggering levels of financial reward and personal freedom.
Each day millions of people report to work, where your employer leverages your time to build his or her business and financial future.
In Network Marketing we help and assist others in building their business. We are also leveraging their time, with each of us is gathering customers along the way.
Hence the name Network. We get paid for this because we are assisting, coaching and helping them to establish their business. Helping them to reach their goals for their financial future. So Its only right that we also get paid for our time?
Just like your employer leverages your time, through network marketing you can leverage the time of others. What does this mean?
Lets take a look at a typical employer in a service industry with 100 or more employees. That has a labor rate of 60 dollars per hour. The goal of our employer is to keep each employee active and busy for each hour paid.
Out of this once all the costs of doing business are factored in such as wages paid, health insurance, unemployment insurance, federal taxes, state taxes, fica taxes, permits, maintenance, housekeeping, the list just goes on and on. The employer may get to keep 5 to 10 dollars per hour of that labor rate.
In Network Marketing, we have our initial start up costs anywhere from just a few dollars to several hundred dollars. Where most network marketers fail is they feel that they don’t need a marketing budget for advertising, they don’t seek out the education required to succeed.
One of the important things to remember is, you are in a real business, you no longer have a boss holding you accountable. Your network marketing success or failure is dependent upon you and your actions.
Your primary task will be to gathering customers for your products or services. To help and assist others get started in their own business partnered with you. You are looking at a business model that will take 3 to 5 years to produce the kind of results you’re looking for.
So don’t give up your day job just yet. It will require 5 to 20 hours of consistent time and effort each week to build a successful Network Marketing Business. It will require a marketing budget, most people do not even consider this.
Network marketing is based on word of mouth advertising which is the most effective form of advertising. Think about it when you go out, watch a great movie, you will go out and tell people about it.
When Sam’s club or Costco moved to your area, you joined their buying club and started telling everyone how much you saved. This is the power of word of mouth advertising.
Major advertising agencies and companies count on this. This is one of the things that we do as network marketers. The major difference is that we get paid for our word of mouth advertising.
One of the most often asked questions is, will I have to sell products and services? The answer is of course yes.
Think about it, no one likes to have a salesman or woman come to the door and sell them products right.
We hate to go to the automobile dealers, where we are swarmed with 5 different sales people all trying to get you to buy from them right!
So how are we as a network marketer different? We recommend products or services that we like and personally use. If we know it’s good and personally use it, recommending it to our friends and family is very easy
Network marketing
MLM compensation plans
MLM compensation plans
Compensation plans in network marketing/MLM vary from one company to the next. They are at best difficult to understand for both you and the person introducing them to you.
It is up to you to ask questions when evaluating any company’s pay plan. Some are front end loaded or they maybe back end loaded.
There are some plans out there that payout more
then 100% fortunately these companies don’t last long but
do end up hurting individuals and give the network marketing industry
as a whole a bad name.
then 100% fortunately these companies don’t last long but
do end up hurting individuals and give the network marketing industry
as a whole a bad name.
As a general rule of thumb anytime
you see a payout of more then 60% be suspect. It generally indicates
that:
you see a payout of more then 60% be suspect. It generally indicates
that:
§ The products are grossly overpriced, unless it is a unique
product or a exclusive patented product.
product or a exclusive patented product.
§ Qualification/Quotas most well established companies will
have some volume or monthly quota that each individual representative
must maintain.
have some volume or monthly quota that each individual representative
must maintain.
§ Breakage/Break away several of the most popular programs
out there use this one. Imagine after all your hard work you
miss your quota for the month only to have all your hard work
building an organization disappear.
out there use this one. Imagine after all your hard work you
miss your quota for the month only to have all your hard work
building an organization disappear.
Most compensation plans fall into binary, breakaway,
matrix, stair-step or uni-level plan but there are other plans out
there as well.
matrix, stair-step or uni-level plan but there are other plans out
there as well.
Network Marketing Binary Plan:
First level is limited to two with infinite depth.
Network Marketing Breakaway Plan:
Unlimited first level width, usually with a finite depth 10 to ?
levels deep.
levels deep.
Network Marketing Matrix Plan:
First level width 2 to 7 usually 5 to 50 levels deep.
Network Marketing Unilevel Plan:
Unlimited first-level width with a depth of usually 5 to 10 levels.
Understanding Network Marketing
is that it is a method of marketing that utilizes independent representatives to reach potential customers that a company otherwise would not reach with traditional online or offline marketing methods.
How it works:
network marketing.
The DSA reports that there are over 13 million people in the U.S involved in direct selling.
You do not see them but they are everywhere, some probably right in your own neighborhood. It is a business in which common people can invest a small sum of money and rise to staggering levels of financial reward and personal freedom.
Each day millions of people report to work, where your employer leverages your time to build his or her business and financial future.
In Network Marketing we help and assist others in building their business. We are also leveraging their time, with each of us is gathering customers along the way.
Hence the name Network. We get paid for this because we are assisting, coaching and helping them to establish their business. Helping them to reach their goals for their financial future. So Its only right that we also get paid for our time?
Just like your employer leverages your time, through network marketing you can leverage the time of others. What does this mean?
Lets take a look at a typical employer in a service industry with 100 or more employees. That has a labor rate of 60 dollars per hour. The goal of our employer is to keep each employee active and busy for each hour paid.
Out of this once all the costs of doing business are factored in such as wages paid, health insurance, unemployment insurance, federal taxes, state taxes, fica taxes, permits, maintenance, housekeeping, the list just goes on and on. The employer may get to keep 5 to 10 dollars per hour of that labor rate.
In Network Marketing, we have our initial start up costs anywhere from just a few dollars to several hundred dollars. Where most network marketers fail is they feel that they don’t need a marketing budget for advertising, they don’t seek out the education required to succeed.
One of the important things to remember is, you are in a real business, you no longer have a boss holding you accountable. Your network marketing success or failure is dependent upon you and your actions.
Your primary task will be to gathering customers for your products or services. To help and assist others get started in their own business partnered with you. You are looking at a business model that will take 3 to 5 years to produce the kind of results you’re looking for.
So don’t give up your day job just yet. It will require 5 to 20 hours of consistent time and effort each week to build a successful Network Marketing Business. It will require a marketing budget, most people do not even consider this.
This is a real business this is your business, not a get rich quick overnight program, 
although it has been hyped by a great many naive marketers and web sites.
although it has been hyped by a great many naive marketers and web sites.Network marketing is based on word of mouth advertising which is the most effective form of advertising. Think about it when you go out, watch a great movie, you will go out and tell people about it.
When Sam’s club or Costco moved to your area, you joined their buying club and started telling everyone how much you saved. This is the power of word of mouth advertising.
Major advertising agencies and companies count on this. This is one of the things that we do as network marketers. The major difference is that we get paid for our word of mouth advertising.
One of the most often asked questions is, will I have to sell products and services? The answer is of course yes.
Think about it, no one likes to have a salesman or woman come to the door and sell them products right.
We hate to go to the automobile dealers, where we are swarmed with 5 different sales people all trying to get you to buy from them right!
So how are we as a network marketer different? We recommend products or services that we like and personally use. If we know it’s good and personally use it, recommending it to our friends and family is very easy
Network marketing
MLM compensation plans
MLM compensation plans
Compensation plans in network marketing/MLM vary from one company to the next. They are at best difficult to understand for both you and the person introducing them to you.
It is up to you to ask questions when evaluating any company’s pay plan. Some are front end loaded or they maybe back end loaded.
There are some plans out there that payout more
then 100% fortunately these companies don’t last long but
do end up hurting individuals and give the network marketing industry
as a whole a bad name.
then 100% fortunately these companies don’t last long but
do end up hurting individuals and give the network marketing industry
as a whole a bad name.
As a general rule of thumb anytime
you see a payout of more then 60% be suspect. It generally indicates
that:
you see a payout of more then 60% be suspect. It generally indicates
that:
§ The products are grossly overpriced, unless it is a unique
product or a exclusive patented product.
product or a exclusive patented product.
§ Qualification/Quotas most well established companies will
have some volume or monthly quota that each individual representative
must maintain.
have some volume or monthly quota that each individual representative
must maintain.
§ Breakage/Break away several of the most popular programs
out there use this one. Imagine after all your hard work you
miss your quota for the month only to have all your hard work
building an organization disappear.
out there use this one. Imagine after all your hard work you
miss your quota for the month only to have all your hard work
building an organization disappear.
Most compensation plans fall into binary, breakaway,
matrix, stair-step or uni-level plan but there are other plans out
there as well.
matrix, stair-step or uni-level plan but there are other plans out
there as well.
Network Marketing Binary Plan:
First level is limited to two with infinite depth.
Network Marketing Breakaway Plan:
Unlimited first level width, usually with a finite depth 10 to ?
levels deep.
levels deep.
Network Marketing Matrix Plan:
First level width 2 to 7 usually 5 to 50 levels deep.
Network Marketing Unilevel Plan:
Unlimited first-level width with a depth of usually 5 to 10 levels.
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