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Network MarketingDynamic - Controversial - RewardingC0mpiled by Mark Glann for:
NETWORK MARKETINGIntroductionTo be successful in business, we all know, we have to network. A primeexample is our membership of Associations like Chambers ofCommerce, Forums, Business Clubs and Social Networking.In this presentation we look at taking this popular practice to the nextlevel. Let’s look at the ‘Network Marketing Industry” .A completely different business model to conventional businessnetworking, Network Marketing requires a different mindset eitherinnate or acquired through personal & business developmentprogrammes.The following presentation is aimed at providing help and the rightexpectations for those considering entering the industry.C0mpiled by Mark Glann for:
Wikipedia’s Definition ofNetwork MarketingWhen searching for “Network Marketing” in Wikipedia the following text ispresented: Multi-level marketing (MLM) is a marketing strategy in which the salesforce is compensated not only for sales they personally generate, but alsofor the sales of the other salespeople that they recruit. This recruited salesforce is referred to as the participant's "downline", and can provide multiplelevels of compensation. Other terms for MLM include pyramidselling, network marketing and referral marketing.The controversy is caused by the word “Pyramid Selling” which by the ACCC’s (InAustralia) definition, is illegal.THE FACT IS: That not all MLMs (Network Marketing Companies) are illegal
NETWORK MARKETINGSurviving Your First Year Surviving your first year and staying in existence afterothers leave the business—is precisely what leads todramatic wealth. Attrition is a considerable factor in the business. Howeverit is rare to meet anyone who has worked steadily innetwork marketing who doesn’t eventually achievesuccess. Those rare individuals who do not succeed are usually theirown worst enemies, constantly reinventing the wheel andcomplicating a simplest path to prosperity in the history ofcapitalism.C0mpiled by Mark Glann for:
NETWORK MARKETINGSurviving Your First Year In network marketing, you persevere or you perish. Quitting is the one sure way to fail. Surviving the first year establishes, for a newdistributor, a good basis for success. Analysis shows that an estimated 95% of those whosurvive ten years in network marketing becomewealthy beyond their wildest expectations.C0mpiled by Mark Glann for:
NETWORK MARKETINGSurviving Your First Year These survivors have achieved either staggering financialrewards and/or total “time freedom,” that is, having all the freetime to do the things that really matter to you with the peopleyou love most. At this particular time in history, when traditional business offersso little security, network distribution is literally the last bastionof free enterprise. A system in which common people who invest a small sum ofmoney and, through sheer tenacity and determination, rise tostaggering levels of financial reward and personal freedom.C0mpiled by Mark Glann for:
NETWORK MARKETINGSurviving Your First Year It’s a field devoid of the pitfalls of traditional businesssuch as payroll, employee benefit costs, advertising,overheads, bookkeeping and accounts receivable. Network marketing has an entirely different set ofentrapments of its own. But once understood, theseproblems are easily overcome. Success in network marketing is critically dependenton awareness, from the very beginning, of what thehazards are and how to overcome them.C0mpiled by Mark Glann for:
NETWORK MARKETINGIts History The network marketing industry traces its roots to the 1940s whenNutrilite Products Inc., launched the sale of food supplementproducts and, ten years later, Amway introduced the sale ofhousehold products. Over the past fifty years, the industry has matured into a legitimateand efficient channel of distribution ideally suited for the next wavewhich is about to break in the world of business. All we can say is, thanks to Rich DeVos and Jay Van Andel for havingthe vision to pioneer this industry. Network marketing annual salesare nearing 20 billion in the United States alone, being moved by anestimated 8 million people. Worldwide, more than 100 billion of abroad spectrum of products and services are being sold by anestimated 30 million independent network marketers.C0mpiled by Mark Glann for:
NETWORK MARKETINGIts History Network Marketing is still a very young industry with anexpansive, promising future. Several studies havepredicted that a third of all goods and services will bemoved via network marketing in western nations shortlyafter the turn of the century and this could be as high as50% in developing nations by the year 2110. Historically, the industry has been product-driven, sellingfrom the traditional categories of personal care,vitamin/nutritional supplementation, home and familycare, leisure and educational products.C0mpiled by Mark Glann for:
NETWORK MARKETINGIts History Starting in the 1980s, services became a growingcomponent, particularly in the deregulatedtelecommunications industry. Other services have includedcredit cards, financial services, insurance, prepaid legalservices, travel, self-development, and motivationalprogramming. With the forthcoming deregulation of the public utilitiesindustries between 1998 and 2002, network marketingcompanies are positioning themselves to enter this marketas well.C0mpiled by Mark Glann for:
NETWORK MARKETINGToday The evolving maturity of the industry is clearly demonstrated bythe twenty network marketing companies now traded publiclyon NASDAQ and the New York Stock Exchange. And manyothers are preparing to “go public.” In order to file an InitialPublic Offering (IPO), companies must establish standardizedaccounting procedures and be open to Securities and ExchangeCommission (SEC) scrutiny and control. Therefore, thosecompanies that do go public must establish and maintain highstandards of business practices, which elevates the character ofthe entire network marketing community. Investors’ response to the publicly traded network marketingcompanies has been outstanding.C0mpiled by Mark Glann for:
NETWORK MARKETINGToday Upline magazine, an industry trade publication, maintainsan “Upline Index” that tracks the financial performance ofthese public network marketing companies. In 1996, thisindex showed an increase in stock market value for theindustry of more than 63% as compared to the Dow JonesIndustrial Average increase of only 33 % and the Standard &Poor’s 500 Index increase of 34%. This nearly two-fold gainof the network marketing industry over traditionalcorporations has created considerable excitement amongsavvy investors.C0mpiled by Mark Glann for:
NETWORK MARKETINGToday The average person needs as little as 200 to 1000 to getstarted in network marketing. Sometimes included in this figureis the purchase of some widely accepted products or services tobe personally used and shared with others. The industry is based on simple word-of-mouth recommendationof products and services; distribution moves directly from theproducer to the consumer, which cuts out all the intermediateagents and dealers who have nothing to do with production orconsumption. As goods are distributed, the network marketer then receivescompensation equal to the advertising budget of most largecorporations. We’ve all known for years that “word of mouth” isthe best form of advertising.C0mpiled by Mark Glann for:
NETWORK MARKETINGYou - The Network Marketer Should this marketing system not be the most lucrative? Ifyou anticipate early struggles, it should not be adisappointment. Most people have a problem withrejection and they take it personally. A successful networkmarketer is most likely to respect and identify with thepeople who turn the opportunity down than thoseprospects whom they actually are able to ‘recruit.’ Each seemingly personal rejection is only a positivereaffirmation of their own negative self-image.C0mpiled by Mark Glann for:
NETWORK MARKETINGYou - The Network Marketer For most people , the biggest challenge is entirelybetween their own ears. For some, the early struggles areonly philosophical. “Of course, I can do it. Anybody can do it.” The question,the very real nagging, haunting question is: “Should you doit? Is it right? Is this what I am supposed to be doing withmy life?” “Nothing is more wearisome and draining than self-doubt.Nothing is more effective at stripping off the fine edgefrom everything you say or do. Nothing can empty youremotional gas tank quicker.C0mpiled by Mark Glann for:
NETWORK MARKETINGYou - The Network Marketer The secret is simply to survive and plod on. Above all,never quit. Your business will grow in spite of yourself. In year one, survival is the name of the game. Statistics compiled by several companies suggest wellover 60 % of all new network marketers quit in their firstyear, during the most important phase in the learningcurve. Given the possibility of earning more in a month (workingfrom home) than a paediatric cardiologist with a staff often earns in a year (at his clinic); wouldn’t anyone bewilling to invest a year or two studying NetworkMarketing?C0mpiled by Mark Glann for:
NETWORK MARKETINGYou - The Network Marketer Compared to the twelve-year learning curve of doctors, isn’t ayear more palatable? It has been suggested that “every great Network Marketerstarted out as a lousy Network Marketer.” We all hate rejection and none is worse than when we aremocked by friends, family, and acquaintances. It doesn’t takevery long for people to become discouraged when every day, forthe first four or five months, they are subjected to eye-rollingridicule from everyone they know, love, and respect. It’s a fact of life, that when any of us first begin a newendeavour, we are, at least initially, vulnerable novices.C0mpiled by Mark Glann for:
Network MarketingThe Greatest Opportunity in the History 0f Capitalism? If you know exactly what to expect and you aren’t forcedto appear foolish by cajoling, deceiving, or pestering thoseclose to you, network marketing, even in the early stages,is quite fun and relatively painless. Preparation andanticipation are both critical. Network marketing is indeed the greatest opportunity inthe history of capitalism for the ordinary person which isthe greater majority of the world’s population.C0mpiled by Mark Glann for:
YOUWhere are you? - Food For Thought ! Ask yourself this question:In considering lifestyle, family, financial matters andrelationships; where do you think you will be in 5 years ifyou continue doing the things you are doing now ?Nothing will change if you do not change.C0mpiled by Mark Glann for:
Suggested Reading &AcknowledgementYour First Year in Network Marketingby Mark Yarnell, Rene Reid Yarnell(08-12-2010)“Overcome Your Fears, Experience Success, and AchieveYour Dreams”C0mpiled by Mark Glann for:
Network Marketing is still a very young industry with an expansive, promising future. Several studies have predicted that a third of all goods and services will be moved via network marketing in western nations shortly after the turn of the century and this could be as high as 50% in developing nations by the year 2110.
