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Article Resources
How To Start And Run Your Own Successful
Network Marketing Business From Home! The
number one reason people fail today in Network Marketing is that
they don’t treat networking like a franchise or traditional
business. I’ve developed a 3-step check list, or “to-do” list for you to use today to ensure that you succeed in your very own home based Network Marketing business! Determine Your Budget! Don’t fool yourself--it’s going to take money to make money. If you’re counting on Network Marketing to magically make you money overnight like the lottery or a chain letter you’re just setting yourself up for a big disappointment--it won’t! Unlike other types of mail order people I believe in telling you the entire truth--not just a portion of the truth so I can sell you something today and worry about you complaining tomorrow. Instead, I want to be upfront with you--you can make money in Network Marketing by using sound mail order principles. The major problem with most people who enter the Network Marketing industry is that they need money NOW--not 6 months or a year from now. In other words, they waited until they ran out of money to start their home-based business instead of planning ahead when they had an extra $100 to $500 a month to spend. Instead they are already in the “hole” with their checking account and “lash-out” at Network Marketing to save them on their way down! Or, they have $500 left in their savings account or on their credit card and spend it ALL at one time on products, marketing materials and ads! So, don’t expect Network Marketing to make you money unless you are going to spend money and treat it like a traditional business. In other words, you need to treat your Network Marketing business like you just spent $100,000 on it--like a franchise! So, how much money do you need to spend each month in order to be successful in Network Marketing? It varies with program to program and how you are going to market your company. I spend in excess of $3,000 a month in my Network Marketing business every month today--but I didn’t start out that way! I started out spending $50 to $100 a month on products, ads, postage and phone calls. If you have at least $100 a month to spare, you’ll find that your business will grow faster. Different Ways To Advertise Warm Marketing The oldest way of advertising is thorough your family, friends and business associates. This method DOES work. Why? Because it doesn’t cost you anything to talk. But, you have the creditability problem with your friends and family, especially if you’re in financial straits to begin with. But, there have been more millionaires made today through Warm Marketing than through Direct Mail--mainly because it is more duplicatable--the costs are very low. The easiest way to recruit via Warm Marketing is to give a sample of your product or give a post-card, mailer, cassette or video tape and go by and pick it up a few days later. If they like it, you sign them up--if they don’t, say “thanks” and move on. Don’t become overbearing or pushy. The last thing you want is your friends avoiding you at the grocery store every week--keep it simple. Approach others like you’re talking to yourself--you’ll find it less threatening and you’ll be more successful. Direct Mail Using Post-Cards, Ads & Card Decks I’ve
seen more people loose money using direct mail than warm marketing.
I use a combination of post-cards, magazine ads and card decks to generate my leads or inquires for my particular Network Marketing program. My feeling is this--if someone requests my information, I’m less reluctant to give them a call--the fear of “bothering” them, or getting a big flat “NO” is less. Today, it costs me about $3.00 to generate what I call a “qualified lead”. If I spend $1,000 on an ad I generate approx. 333 leads. I mail out my literature packet or self-mailer and make a follow-up phone call. I currently convert 10% of these leads into downline members. Or, 33 new distributors. So, each distributor costs me $33 a piece to recruit--and that’s not counting the costs of postage, printing and phone calls--which normally drives the cost up to $40 per new recruit. If it costs you at least $40 to recruit someone you have to make sure they stay in your program long enough for you to make your $40 back and start making a profit! How do you keep someone motivated and excited long enough for you to make money in Network Marketing? The key is that you can’t make people successful, instead, you’re job is to find successful people and rest will take care of itself. The sad truth of Network Marketing is that only 20% of those you recruit will ever go out and duplicate your efforts. That means 80% don’t sponsor anyone! Most don’t even try! They buy their kit, their products and quit mentally. Then, 90 to 180 days later when they run out of money they quit your program altogether and say “Network Marketing doesn’t work!”. I know first hand that the only reason I wasn’t making money early on in my Network Marketing career is because of two reasons: 1) I didn’t try or take action. 2) I didn’t listen to my upline and made silly, yet expensive mistakes. The first 3 programs I was in I didn’t make a dime. I probably lost close to $1,000 dollars. So, don’t be like I was--follow the advice of your growing and profitable upline. And, if you can’t find one, go straight to your company and ask their advice--they have a vested interests in your success--they will most likely tell you what you need to be doing to be successful with their product or service! If You Can Sponsor 1, You Can Sponsor 1,000! If you’ve ever sponsored at least 1 person then my hat’s off to you--you have my respect. You’re in the top 20% of all networkers world-wide. But, don’t stop with just one. Keep going. Don’t be disillusioned that you can sponsor 5 or 10 and then quit and wait for your downline to do all the work! What you need to realize is that if you plan on supplementing or even replacing your income through Network Marketing you need to set a goal of sponsoring at least 10 new people every month. Why? Because you’ll find that only 2 to 3 will ever duplicate your efforts. That really means that you have only sponsored 2 to 3 new people a month! Why groups don’t grow is because they only sponsor 1 or 2 a month. What’s 20% of 1 person? How about 20% of 2 people? See my point? If only 20% are going to go out and spend their money and duplicate your efforts you’ve got to at least sponsor 10 new people a month to see any growth at all! If you don’t, not only will your downline start getting discouraged and loose hope, and so will you. And where there is no “hope” of making money there isn’t a downline at all. So, remember, determine your budget, your method of recruiting and stay with it. I’ve been in Network Marketing for 8 years now and still sponsor 10 to 20 new members a month. Follow my advice and you’ll be making money for years to come! ------------------------------------------------------------------- Article Resources
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