What is Network Marketing?

In this post, I discuss what Network Marketing is.

First, What is it?

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It is earning money by recommending products and services to other people.

Network marketing comes with the option to build teams of people doing what the network marketer is doing in order to increase income.

Network marketers make recommendations if appropriate to do so.

Everyday we recommend things we like to other people. We recommend our favourite books, our favourite movie, our favourite restaurant, and so on.

In Network Marketing, you would earn a commission for your effort if the person to whom you made the recommendation went on to make a purchase based on your recommendation as a network marketer.

Several companies choose the network marketing routeto get their products into the hands of their customers. This is because personal recommendations from one person to another can be more effective than mainstream advertising.

So instead of having an advertising budget, many companies choose to use a compensation plan to reward active network marketers who decide to partner with them.

Network marketers may choose to build teams.

Earnings can be multiplied if, as a network marketer, you decide to build a team of people who do what you are doing.

This means that as a network marketer, apart from recommending your company’s products and services, you could also recommend to people that they become network marketers themselves.

Showing and helping other people become network marketers themselves is called team building.

Generally, earnings in network marketing are multiplied by team building. The larger your team (or network) is, the more money you are likely to earn.

Below are the two main advantages of network marketing in my opinion.

The first is simplicity. Although some specific training is required, talking, listening and recommending are the core activities in network marketing.

The second is income potential. A network marketer’s business and hence their income can be as large as the network marketer wants it to be. This is because they are not an employee with a fixed income; they are a business owner. Further, team growth and team size depends on the combined effort of many people in the team doing a little work, not on one person doing a lot of work.

What is Network Marketing and How much money do network marketers earn?

Earnings are variable and can be as little as a few hundred dollars per year to as much as several hundred thousand dollars per month.

Earnings depend on the network marketing company’s compensation plan, the network marketer’s training, their experience, and the level of effort that they apply to their network marketing business.

Some network marketers work on their network marketing business on a part time basis alongside what they are already doing. Some people are full time network marketers.

How do network marketers get started?

They begin by choosing a company whose products, services  and company vision is in line with their own personal goals.

Typically, they will be using the company’s products themselves in order to experience the benefits.

After choosing a company, the next step in getting started is to get trained on the company products, services and the business opportunity.

Training in Network Marketing should always be regarded as ongoing and never ending. There is always room for more learning, growth and self improvement.

The next step is promoting. Network Marketers promote the company products, services and the business opportunity.

Learning and promoting are the core activities of successful Network Marketers.

Are all network marketers successful?

No, majority of network marketers are not successful.

To succeed, the network marketer needs to have:

1. A burning desire to succeed ( work ethic)
2. A good company to work with.
3. Correct training

Failure in network marketing is due to a problem with one or more of the three above.

That’s all for now.

If you want me to expand in more detail on anything you see in this post then say so in the comments. Questions? Please ask in the comments. Check out my top recommended network marketing opportunity.

Best wishes,

Ugo