The Network Marketing Pros and Cons

The Network Marketing Pros and ConsEvery business has it’s pros and cons and network marketing is not any different. So let get right to it.

1. It can be started fairly inexpensively- your network marketing business can be started fairly inexpensively. Which means that you can break even fairly inexpensively as well.

The con to this is that because it can be started very inexpensively it attracts many people that are dreamers hopping that they can get rich quick. This is something that the critics of network marketing use to prove that it does not work. In reality this has nothing to do with Network marketing or how network marketing is represented. It has to do with people taking responsibility over their own actions. People need to stop blaming others for their inability to make decisions.

2. Can be home based business- with everything that is going on in the world more and more people want to stay home with their families. Not only can you save on gas, you can have tons of tax deductions.

The cons to being at home are that you have to be self motivated. Many people can’t even due a workout tape at home. So expecting the average employee to run a business after they come home from work is unreasonable.

3. The next network marketing pro is that it is usually an exponential business. If you ever studied the  power of compounding you understand how powerful the potential of network marketing is. Have you ever heard of the old compounding adage of the penny doubling for 30 fays. As in any of these they are usually a two edge sword.  The point is that at the beginning of the process it seems like you are doing lots of work for very little pay. As time goes and you continue your efforts there is apoint where you are doing very little work for lots of pay. There is a little challenge here that if you start the boulder running and then let it fall back you need to start all over again. We want to see immediate results and the faint promise of future reward for hard work today does not work for 97% of the population.

4. One of the greatest pros in network marketing is that you can run it as a small business-In network marketing you do not have to hire anyone. So there is no workman comp insurance no social security to pay, no employes to deal with. So you are essentially self employed. The challenge with most self employed businesses is that they can not be automated. Usually to automate a business you need to hire employees that can give life to your corporation when you are not around. But in network marketing this is not so. You can have an automated business that works with or with out you making you residual money even when you are not around. This requires diligence. You can have a network marketing business where it is all dependent on you and that you are tied to it.

The con to this that you are prospecting you have to go through allot of coal to reach and help polish the diamonds. Lets take this metaphor a little further. Some diamonds are bigger than others but your goal is to just place diamonds in your organization. Over the last couple of years my perspective has changed from just building my netwroking business to creating a funded proposal that is paying me. My automated machine sifts thru possible diamonds and spits them out for my inspection. Then I transfer them to the next machine which polishes and sifts through and helps me check them for final inspection.

Network Marketing Curriculum for the Pro

Network Marketing Curriculum for the ProThis article is for those people that really want to make money at Network Marketing. Don’t fool yourself! To make any real money at network marketing, you need to become a pro. To become a pro at network marketing, you need a certain basic skill set. The good thing is that it is a learned skill set. So lets see what your curriculum should look like. A note of caution: Don’t use this as an excuse to spend all your time learning and organizing and not building your business. All these skills are “hands on” skills. They are best learned by doing- not by reading, listening or philosophizing. So get out there and do it! I will try to put the list in order of importance. Just keep in mind that the skills are like juggling. Each skill is not isolated by itself. They all work together.

 

1. Motivation- The first skill you need to learn is self motivation. Without this skill, your business will not even get started! Re-programing your subconscious is the number one skill in this subject. NLP has done a great job of detailing what you can do to change your subconscious mindset. Some great textbooks for this subject are: Awaken the Giant Within, and Unlimited Power  by Tony Robbins, and The Greatest Salesman in the World and Success University by Og Mandino

2. Marketing and Lead Generation- this is the next skill even before basic business skills like accounting and office management. Because with out possibilities there will be no business. As you start in your studies you realize that the very successful in Network Marketing usually excel at just one maybe two marketing methods. Maybe it is Internets based like pay per click, article marketing , social media or blogging. Maybe it is person to person like cold calling, warm market or just meeting people at the mall. The important thing is to realize that you just need to pick one or maybe two. Start using it to generate leads. When you get to 10 to 50 leads a week depending on the method then you can specialize in the next lead generation method. When I first started in my lead generation specialty I found myself overwhelmed trying to accomplish everything. It is impossible.

A must have textbook for this is Mike Dillard’s Magnetic Sponsoring. A 30 dollar book that could change the course of your business, it has changed mine. It also has created a whole movement within the Network Marketing Industry. With Magnetic Sponsoring in your possession the next program you should check out is My Lead System Pro. They have a Wednesday weekly hour class that is all about generating leads for your business. Check out the next free class here.

3. Lead Conversion-Just because you generate leads it does not mean that you can convert those leads into distributors. Your next step after learning how to generate leads is to learn how to turn those prospects into distributors. This can be automated, but the final process is going to include interpersonal skills and relationship building. David Wood’s Perpetual Funnel System is the text book class for this. I am just going trough this course and it is awesome.

4. Presentation- Presentation skills is part of your lead conversion but it deserves a whole section on it’s own. We have a saying in network marketing – the person that holds the marker makes the money. You need to become a professional presenter. I don’t mean that you need to be the best presenter in the world knowing all the advance technique. This is more of an internship skill. You watch people doing it, then you jump in and do it yourself. These days it is wise to learn how to do webinars which are just seminars done over the internet. Learn your plan, ask your up line for a script. Scripted or outline is the first step then you will take the next step and make it your own the important thing is that you get out there and do it you will never be a professional unless you get out there. Mark Hoverson’s Irresistible Blueprint.

4. Basic business skills-  Surprisingly this could be very simple but you need to implement some basic systems for accounting. This is such a basic skill for any business that they are regular college classes for this. I don’t believe you need to go through that but asking your accountant for some advise I think would suffice.

5. Team management- Team work makes the dream work. Team management is the skill that will liberate you and make you the residual income. This is a skill that does not need to be learned immediately because initially your team will be just you. It’s hard to build a team with just one person. You need to develop leads convert them. Once you do that and begin to build a team then you want to manage that team. Many people make the mistake of either micro managing their team or try to control their distributors. Neither of these approaches will lead to ultimate time freedom. You need to learn this very important skill in order to automate your business and truly get a residual income. I know people that are making very good money as network marketing pros but they are tied to there business because they have not learned how to effectively manage their team. Mark Hoverson’s Irresistible Blue Print is a great program for this purpose.

Check me out on Facebook  and look for My Lead Generation for Beginners Program coming soon!

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