Network marketing, also known as multi-level marketing (MLM), is a business model that allows individuals to earn income by selling products. It also provides services to people they know and recruiting others to do the same. It is a type of direct selling that relies on a network of independent distributors to market and sell products or services.
In network marketing, distributors typically earn money in two ways. First through direct sales and second by earning a commission on the sales made by the distributors they have recruited. This means that a distributor earns money by selling products or services. Meanwhile also by building a team of distributors who sell products or services under their guidance.
Starting a network marketing business requires careful planning, dedication, and hard work. Here are some steps to help you get started:
- Research and Choose a Company: Research different companies to find one that offers products or services that you are passionate about. Look for a company that has a proven track record of success, a strong training program, and a supportive community.
- Understand the Compensation Plan: Before joining a network marketing company, make sure you understand the compensation plan. Look for a plan that offers generous commissions and bonuses for both direct sales and recruiting new distributors.
- Build Your Network: Once you have joined a company, start building your network by reaching out to friends, family members, and colleagues. Use social media and other online tools to connect with potential customers and distributors.
- Attend Trainings and Events: Attend trainings and events hosted by your company to learn more about the products or services and how to effectively market them. These events also provide opportunities to connect with other distributors and build your network.
- Stay Committed: Building a successful business takes time and effort. Stay committed to your goals and continue to work hard to grow your business.
Here are some web links to help you learn more about this and how to get started:
- The Direct Selling Association: https://www.dsa.org/
- Network Marketing Pro: https://networkmarketingpro.com/
- Eric Worre’s YouTube Channel: https://www.youtube.com/user/ericworre
- MLM Rankings: https://www.mlmrankings.com/
- Success Magazine’s Network Marketing Section: https://www.success.com/category/network-marketing/