Network Marketing seems to be a lucrative business opportunity. You hear news of individuals involved in it driving BMWs, living in nice houses, and traveling the world.
For those who have no idea what network marketing is, Wikipedia defines it as: a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation. It’s also called Multi Level Marketing or MLM.
What I believe is most attractive about network marketing is the promise of a residual income. Most entrepreneurs, if not all, want to get to a point of earning a certain amount monthly without doing much work.
In my personal opinion, MLM does not necessarily have the best reputation out there but it doesn’t mean that it’s not a good opportunity to earn an income without working for someone else.
But see, most of the time, we see from the surface. We see the nice car and all the perks but we really don’t know what the successful network marketers had to go through to reach the level where they are at.
The question is: Is it really for everybody?
1. It is not for the faint of heart.
If someone promised you the moon and the stars when you sign-up for a network marketing opportunity and you expect that you will just sit pretty while earning lots and lots of $$$$ the following day while others (your downline/recruits) are working hard for you, then network marketing might not be for you.
Just like any other business, network marketing requires patience, perseverance, and hard work.
Network marketers who have not made it usually gave up within a month or two of signing up and not seeing any results. Although this business model promises residual income, it ain’t a “get-rich-quick-scheme.”
2. It is not for people without people skills.
Network marketing requires exactly just that – networking. If you are an introvert and you’re not willing to go out of your comfort zone; if you would rather work behind your computer and not deal or interact with people in person, you probably will not be successful in this type of business.
Having people skills and charisma is a plus factor that will draw more people to your product, service, or network opportunity. In fact, these traits really does apply to any business, period.
3. It is not for people without or not willing to learn business skills.
Network marketing is a business and just like any other business, it does require selling whether it be recruiting individuals to be under your network or selling your product or service. Sales skills is a business skill. This is of course not to say that you can’t learn. If you’re willing to learn in this area, you should not disqualify yourself from being a network marketer.
4. It is not for people without or not willing to develop leadership skills.
The success of your network marketing business will highly depend on building a team that has the same passion and same goals as you. Recruiting for your team does require that you have the eye for individuals that are willing to learn and are there to last and not give up when they see no results in the first few months. You also have the skills to motivate, inspire, teach, train, and lead your team to success.
I hate to sound negative in my blog posts. In fact, I am not for using negative words in my titles just to catch attention. The things I laid out above may sound negative if you don’t have them. But do not be discouraged. Most of the things in network marketing can be learned. I think the only most important thing if you want to be successful in network marketing…or in anything for that matter…is to NOT GIVE UP. Perseverance pays off in the end!
If you are successful in network marketing, please feel free to comment below and share with us the factors in your success!