Networking marketing has become the fastest-growing business sector in recent times. The problem a lot of us have is it conjures up images of men in cheap suits with slicked-back hair, trying to sell us stuff we don’t need.
It is being hailed as the business of the 21st century by juggernauts of industry like Warren Buffett and Robert Kiyosaki and can be the best way of starting a business with little financial and time investment, that one day will turn into a full-time residual income.
We spoke to Greg Davies, Emerald Executive from MonaVie, to get his best insights into starting a Network Marketing business.
Tip 1: Follow your heart
Most obviously, you need to have passion for the product you are recommending. Companies in our industry only have one major difference with those that sell their products in shops; and that is who they pay to advertise their products. Retail-based companies will pay celebrities millions of pounds in endorsements, whereas network marketing companies pass that money on to the distributors. If you believe in yourself and your product, you are off to a good start.
Tip 2: Adopt, don’t adapt
The most successful companies in the industry have a proven training system – lock into these. Unlike in other industries where your success would threaten your colleagues, everyone in your business has an interest in you succeeding. The training systems have been designed to develop your personal skills and to stop you wasting time and money.
Tip 3: It’s all about timing
This doesn’t mean you have to be in at the start, in fact following these kinds of companies before they are established often leads to years of frustration. You do need to give it the time to succeed, this is a 2-5 year plan and anyone who tells you that you will make lots of money very quickly does not understand the industry. The key is to work part-time and not sometimes, set a goal and make sure you stick to it.
Mark van Hoven is a UK-based South African who is looking into Network Marketing as a source of additional income.
I hear horror stories of people investing thousands into Network Marketing, only to be left with products they do not want or cannot sell. How do I protect myself against this?
There are some very stringent rules that apply to our industry to stop this kind of thing happening. For example, it is illegal for you to spend more than £200 in your first seven days of business and there is always a cooling -off period where you can return product for a full refund. Having said this, if you follow the systems in place and set yourself an activity standard, you should never be left with mountains of stock and the person who introduced the business to you should never ask you to place an order if it is not appropriate for your business plan.
How do I know if Network Marketing is right for me?
Like all things in life, it is about research. Go to some events, meet some of the leaders and talk to someone who works for the company, rather than a distributor, about which team and leader you would work well with. It should never be down to a gut feeling and you will be able to get to a decision based on what you see, hear and experience.
What if I enroll and then after a while decide it is not right for me?
You should be able to step away from a network marketing company at any time if it isn’t right for you. Good companies will have a quick way to return your initial investment and then to continue to build your business to a level that generates a residual income. Because of the fact that they use you to recommend their products and services, it is of no advantage to them to have an unhappy distributor tied into a long contract.
For more information about Greg go to www.mymonavie.com/gregdavies and if you have other questions that you would like answered, please email – [email protected]
By Paul Harrison