Chances are you know someone who is involved in “one of those things” a.k.a. Network Marketing (Multi-Level, Social, Intranet). It seems everyone is doing something these days. For me, a former prestige beauty industry executive, I knew nothing about “home-based businesses” ten years ago. But since I was introduced to it, it continues to mesmerize me and wonder what if, why not, and can this really work?
For starters, you get to be your own boss. You decide how, when, where and why to run your business. This truly is an Entrepreneurial endeavor. The skills I’ve learned from being involved in this type of business are priceless. Specifically how to approach potential new clients and partners. How to research who you want and why you want them and then how to approach them, ask for the sale/partnership and solidify the deal. This skill has carried over into so many other endeavors since and has truly given me a competitive edge in the business world.
Unlimited income potential. No other opportunity exists where you get to make as much as you want and make what you are worth. In traditional roles, you can expect a 3-5% raise annually (if you’re lucky) and that’s it. It’s all based off of someone else’s perception of your value and worth to an organization.
Get paid continually on work you’ve done once. This is quite cool. Imagine this…you have a consultation with a client and help them find a solution to a problem. You get paid when they purchase the solution and EVERY SINGLE TIME THEREAFTER. Even more, when they share or recommend this solution to a friend, not only do you get paid on that too – so do they! Good old fashioned word of mouth sharing becomes a way to make money. Brilliant!
Worthwhile work. Remembering one of the main principles of Gung Ho! , a fabulous , quick-read management book that was a staple during my time in the beauty industry, The Spirit of the Squirrel is utmost importance to me. For me, what makes this type of business worthwhile is the fact that I was able to develop leaders. There is nothing better to me than seeing someone I have developed grow beyond me in success. You also get to provide a lucrative and legitimate business opportunity, a way for people to support their family, for those willing to work for it. Lastly, you get to choose who you want to work with, spend time with, dream and achieve with. Win-win.
These are just a few benefits that made the biggest impact to me, but there are so many others that may peak your interest, such as:
- Continuous bonus potential, incentives and trips
- Using products you love at a discount
- Tax benefits
If it were easy, everyone would do it.Jimmy Dugan, A league of their own
Oh yeah, it’s hard…but what’s hard to you?
- Hearing “no” more than you hear yes
- Keeping team members engaged and committed to doing the work required to be successful
- Convincing prospects that the business is stable, legitimate and honest. Pyramid Scheme fears, anyone?
The above list of Con’s can be that of any other traditional JOB. The difference is these con’s are worth the outcome. Wait a minute – that’s another pro! Because what’s truly hard is staying late at work because your boss requires you to. Missing your kids game. Keeping “hours” in the office just like everyone else… for fairness. Missing your family dinner night after night during the week. Asking permission to call in sick so you can take care of your child. Dealing with office politics to get ahead rather than your work speaking for itself. Dealing with all of the above – and more until you are 65 years old and can finally live a life you’ve dreamt of (that is if you’ve been able to save enough money on the limited salary you’ve made over the years). And on – and on – and on.
What to look for when selecting a brand to partner with:
Do you love what the brand is about?
Do you know their mission? Their vision? Do they even have one?
This is important because you are looking for longevity and staying power – not a company that is going to be closing shop in a few years.
Who will be your mentor or guide? Who’s your coach?
People don’t quit a job, the saying goes – they quit a boss. Having the right partner will help you to grow and become more successful. Look for someone dedicated to your growth and who is willing to coach you along the way, despite your sales results.
Do you like what’s being offered? Can you get behind the product or service 100%?
Your passion is your best tool in being successful. You can’t fake it. Your clients will see right through it. Choose a brand you LOVE and you will have a huge advantage over others and win the trust of your clients.
Are there systems in place?
Not everyone is a salesperson, but anyone can follow a system and plug into trainings and programs to organize clients and sell. Simple templates, scripts and email campaigns are just a few things you should expect as tools from your company.
Is there any “fine print” as it relates to the Success Plan (aka Compensation Plan) or Bonus’s?
What do you really need to promote? Is that luxury car really yours or do you have to keep hitting high numbers every month to keep it? You won’t be told , you have to look hard yourself.
Is it a viable industry? Is there a true need for the product or service or is it just a fad?
Health , wellness and beauty are all areas that are profitable and recession-proof and, of course, are my personal favorites!
If you do decide to go for it. For goodness sake, please be genuine. Do it to truly help others. Do your research. If you’re selling nutrition products, become a student of nutrition. If you are selling skincare products, become a student in skincare. Educate and inspire versus push to purchase. Don’t use fear tactics to recruit. Be professional. If you say people matter, then act as if they do and put people first. Tactics opposite of this have given the Network Marketing industry a bad name. Unprofessional “sales people,” uneducated “experts” and aggressive “recruiters” are more than plentiful due to a lack of vetting. This is for “all” so you get “all types”. This was the main issue I personally found to be challenging to overcome. Because of this, you are immediately defending yourself before you even get started.
The only thing you need to be successful are talents that you – in fact – were born with.
Hunger for more out of life
Faith in yourself
Willingness to learn and be coached
It’s already all inside of you…now just realize this is just ONE of the ways you can change the course of your life . After all, it’s not who you think you are that holds you back. It’s who you think you’re not.
I’d love to hear your experiences with Network Marketing. What have you learned?