When an individual asks me, "What is network marketing?" I constantly say "it depends". Simply because to some people it is going to be a "scam" and to other people it signifies a couple of hundred dollars per month in their bank account. And to a number of, "what is network marketing" indicates a fortune.
Based on WikiPedia, "Multi-level marketing (MLM) can be a marketing strategy in which the sales force is compensated not just for sales they personally produce, but also for the sales of other individuals they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation." To those that feel it's a scam, chances are they simply didn't get in, get busy and make it work for them.
What exactly is Network Marketing? - Understanding The Basics
Each and every business is in business to make a profit and to make a profit some thing needs to be sold. It doesn't matter if you are speaking about Barbie Dolls, vitamins or cell phone service. No one tends to make money unless the product or service is sold. In a standard retail environment, the product is commonly created, shipped to a warehouse, then shipped once more to a retail outlet where it will be sold and every person gets a piece from the profit pie along the way.
Network marketing is no different. The shop is replaced by a distributor's home where she keeps the products till they are sold to her buyers. Network marketing delivers a massive benefit to organizations because they do not have the expense of renting or acquiring retail outlets and staffing them and so forth.
You might have heard the phrase "pyramid scheme" utilized inside the same sentence with network marketing and this usually comes from a person who joined a plan, didn't work the program and is now blaming their lack of initiative and expertise on the plan. There is certainly no truth for the statement that only those in the prime make all the money since their is no prime. Whenever you join a MLM plan you will be the CEO of your personal organization and it truly is 100% completely up to you to develop the business or not. If you don't sell product, no one gets paid. Period.
In typical business most people spend their working lives working for promotions and receive raises which might come annually if you're lucky. If they keep up with inflation you are even luckier. It does not matter how hard you work for many companies, promotions will only come along infrequently, if at all.
With network marketing life is actually a lot clearer. In case you start out working hard and build a productive team, you'll be able to quickly move up inside that "pyramid" without having to kill your self during your working years.
You'll be able to keep in the bottom if you are happy there by just promoting enough product to give you several additional dollars a month. But the sky's the limit. If you want to move up and join the big boys, it is possible, and as rapidly as you like.
It does take a lot of hard work, but you are doing it for the benefit of the business and your family members and not somebody else!
What's Network Marketing? - It's about Leveraging Other People's Time
You will find only find a few hours in a week that a single person has to run his business. For the duration of that time you might have the ability to sell on typical 50 units of product per week for which you earn a commission. To become profitable at network marketing you must recruit a productive downline team. Possibly after a year you've got a team of 200, each and every promoting 50 units per week. Now you might be credited with selling these 10,000 products, and you earn commissions accordingly.
So now you'll be able to see how the sky's the limit within the network marketing business if you work hard. So what is network marketing - it is an approach to escape the corporate rat race and take satisfaction in a substantial income and living a life that most people only dream about.
Based on WikiPedia, "Multi-level marketing (MLM) can be a marketing strategy in which the sales force is compensated not just for sales they personally produce, but also for the sales of other individuals they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation." To those that feel it's a scam, chances are they simply didn't get in, get busy and make it work for them.
What exactly is Network Marketing? - Understanding The Basics
Each and every business is in business to make a profit and to make a profit some thing needs to be sold. It doesn't matter if you are speaking about Barbie Dolls, vitamins or cell phone service. No one tends to make money unless the product or service is sold. In a standard retail environment, the product is commonly created, shipped to a warehouse, then shipped once more to a retail outlet where it will be sold and every person gets a piece from the profit pie along the way.
Network marketing is no different. The shop is replaced by a distributor's home where she keeps the products till they are sold to her buyers. Network marketing delivers a massive benefit to organizations because they do not have the expense of renting or acquiring retail outlets and staffing them and so forth.
You might have heard the phrase "pyramid scheme" utilized inside the same sentence with network marketing and this usually comes from a person who joined a plan, didn't work the program and is now blaming their lack of initiative and expertise on the plan. There is certainly no truth for the statement that only those in the prime make all the money since their is no prime. Whenever you join a MLM plan you will be the CEO of your personal organization and it truly is 100% completely up to you to develop the business or not. If you don't sell product, no one gets paid. Period.
In typical business most people spend their working lives working for promotions and receive raises which might come annually if you're lucky. If they keep up with inflation you are even luckier. It does not matter how hard you work for many companies, promotions will only come along infrequently, if at all.
With network marketing life is actually a lot clearer. In case you start out working hard and build a productive team, you'll be able to quickly move up inside that "pyramid" without having to kill your self during your working years.
You'll be able to keep in the bottom if you are happy there by just promoting enough product to give you several additional dollars a month. But the sky's the limit. If you want to move up and join the big boys, it is possible, and as rapidly as you like.
It does take a lot of hard work, but you are doing it for the benefit of the business and your family members and not somebody else!
What's Network Marketing? - It's about Leveraging Other People's Time
You will find only find a few hours in a week that a single person has to run his business. For the duration of that time you might have the ability to sell on typical 50 units of product per week for which you earn a commission. To become profitable at network marketing you must recruit a productive downline team. Possibly after a year you've got a team of 200, each and every promoting 50 units per week. Now you might be credited with selling these 10,000 products, and you earn commissions accordingly.
So now you'll be able to see how the sky's the limit within the network marketing business if you work hard. So what is network marketing - it is an approach to escape the corporate rat race and take satisfaction in a substantial income and living a life that most people only dream about.
About the Author:
Joe Burke writes under the names jbmuchin and augustus1. His many topics include MLM, Multilevel Marketing and Network Marketing. His writings can be found on many article directories.network marketing, andmultilevel marketing
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