What You Must Know In Order To Succeed In Your Network Marketing Business

What you​ Must Know in​ Order to​ Succeed in​ Your Network Marketing Business
There are many reasons why people fail in​ network marketing.
However,​ instead of​ looking into each of​ these causes,​ the​ purpose of​ this article is​ to​ explain what people MUST know when they start their network marketing business so that they will have a​ better chance to​ succeed.
This is​ what you​ must know in​ order to​ succeed in​ your network marketing business:
1) What is​ your job scope?
2) What is​ expected of​ you​ in​ your job?
3) What you​ should expect in​ your job?
Network marketing is​ a​ business and not a​ job! in​ fact,​ in​ the​ network marketing or​ MLM circle,​ the​ acronym J.O.B .​
stands for:
- Just Obey Boss (Work on​ a​ job and take orders from the​ boss.)
- Just Over Broke (Work on​ a​ job,​ get paid,​ and after you​ pay all your bills,​ you'll be just over broke.)
- Journey Of the​ Broke (Work on​ a​ job and you'll likely end up broke after working their whole life!)
- Jump Out of​ Bed (Hit the​ alarm clock and jump out of​ bed each morning to​ get yourself ready for another day's work.)
So,​ what am I​ talking about?
WHAT is​ YOUR JOB SCOPE?
Say,​ you​ check out a​ job on​ a​ classified ad .​
You'll be looking at​ the​ job title and then the​ job description .​
Some ads are so small that you​ really wonder what's involved .​
So,​ you​ write that perfect job application letter,​ update your resume and secure your interview .​
And besides the​ salary that you'd most interested in,​ you'd be finding out the​ duties and responsibilities of​ the​ job.
Bottom line: you​ know the​ scope of​ your job when you​ get one.
Now,​ when you​ start out in​ your network marketing business,​ do you​ know your job scope?
As a​ network marketer,​ this is​ your job scope:
- Understand your product and offerings
> Learn about the​ products especially those that you​ want to​ focus on​ (if your company offers a​ wide range)
> Find out the​ unique selling proposition of​ your products .​
In other words,​ what are the​ benefits of​ your products?
> Be a​ product of​ your products so as​ to​ know their pros and cons and you'll be able to​ share from first-hand experience.
- Understand the​ company,​ its mission and vision
> Find out when and how was the​ company started
> Find out who owns it​ and who's who in​ the​ management team
> Find out where are the​ regional offices (if any) and visit some of​ them if​ possible
> Know the​ company's mission and its vision
- Understand the​ compensation plan
> Study the​ compensation plan and know how to​ explain to​ others clearly
> Know the​ merits of​ your company's compensation plan and how it​ compare with other compensation plans.
- Understand the​ network marketing industry
> Find out about the​ network marketing industry and how it​ started
> Study the​ difference between legitimate network marketing and illegal pyramids
- Build your network through duplication
> Realize that network marketing is​ not sales but a​ people business
> Build your network through your circle of​ influence and relationship,​ friendship,​ partnership and leadership
> Provide training and support to​ duplicate your downline business partners
> Multiply your efforts so as​ to​ grow your business exponentially through the​ power of​ LEVERAGE
WHAT is​ EXPECTED OF you​ in​ YOUR JOB?
Once you​ got that job and started working,​ you​ are expected to​ learn and pick up your skills from your seniors and your peers and even from your subordinates.
It is​ in​ fact not much different in​ network marketing .​
And these are the​ things that are expected of​ you:
- to​ get into a​ business mind set
> Realize that since this is​ a​ business,​ you​ must take responsibility as​ a​ business owner
> as​ you​ are your own boss,​ you​ owe it​ to​ no one except yourself whether you​ succeed or​ fail
> a​ business takes time to​ grow,​ so be patient with yourself
> Network marketing is​ a​ get rich sure and not a​ get rich quick business
- to​ practice the​ success mind set
> Set your goals and plan your strategy,​ then take action
> When you​ do not get the​ results you​ want,​ don't give up easily but adjust your strategy and take action again
> Keep adjusting your strategy as​ necessary to​ achieve the​ results you​ want
> in​ this business,​ you​ cannot fail if​ you​ practice the​ success mind set
- to​ have the​ right attitudes
> in​ network marketing,​ you​ can only succeed if​ you​ help others succeed
> Use less of​ I,​ me,​ myself and think about how you​ can add value to​ your prospects and partners
> Be prepared to​ walk the​ extra mile and get busy once your network starts to​ grow
> How fast your network grows depends on​ you​ as​ you​ are the​ leader of​ your own network
> Whatever you​ DO,​ not whatever you​ say,​ is​ duplicated by your network
- to​ learn the​ business skills
> It's not money that makes you​ rich,​ it's business skills
> Learn the​ basic business skills that you​ need to​ make this business work
> These are essentially inter-personal and communication skills encompassing prospecting,​ inviting,​ presenting,​ closing,​ following up,​ training and support
- to​ share the​ business with others
> If you​ had started a​ traditional business with $100,​000,​ would you​ open your door to​ do business everyday? Yes,​ of​ course.
> Network marketing is​ a​ word of​ mouth business .​
Thus,​ to​ do business means you​ simply tell others about your products or​ services.
> When you​ share your business everyday,​ you​ are in​ fact opening your door to​ do business everyday.
> Sharing your business is​ just making a​ referral .​
Do not confuse it​ with selling .​
a​ good example is​ to​ refer a​ friend to​ a​ restaurant because you​ thought the​ food was great .​
However,​ you​ most likely won't know how they cook or​ what ingredients the​ chefs use .​
You just loved the​ taste of​ the​ food or​ perhaps the​ service there.
WHAT you​ SHOULD EXPECT in​ YOUR JOB?
Once you​ got that job and started working,​ you​ are expected to​ learn and pick up your skills as​ soon as​ possible but not instantly .​
(Unless of​ course you​ already have relevant experience in​ a​ previous similar job.) So,​ you​ actually go through a​ probation period of​ 3,​ 6,​ 12 or​ even 24 months .​
And then,​ initially,​ there's so much to​ learn and so exciting .​
However,​ this wears out as​ time goes by...
It is​ in​ fact not much different in​ network marketing .​
And these are the​ things that you​ should expect:
- There is​ a​ learning curve
> No matter how simple your product or​ compensation plan seems,​ there is​ simply a​ learning curve
> If you​ are starting network marketing from scratch,​ you​ need time to​ learn and develop the​ business and success mind sets as​ well as​ your business skills.
- Your initial excitement will not last long
> Your initial excitement when you​ join a​ network marketing company can only last for 1 to​ 2 months
> So,​ you​ need to​ maintain your enthusiasm by building your belief and commitment by attending meetings,​ training,​ reading or​ listening to​ audio,​ etc
- Replenishment is​ necessary
> People come and people will go whether in​ jobs or​ in​ network marketing
> as​ this is​ inevitable,​ you​ need to​ constantly replenish your network by sponsoring new people till you​ reach a​ critical mass whereby the​ growth in​ your network exceeds the​ attrition rate .​
I​ have written an​ article,​ How to​ Create a​ Surefire Stream Of Prospects For Your Network Marketing Business which you​ can download from www.rogerloh.com/mlmtips
- There will always be rejection
> No one has a​ 100% record in​ sponsoring no matter how good they are.
> Realize that rejection is​ part of​ the​ job and that they are rejecting the​ opportunity,​ not you
> Dismiss the​ rejection by chanting,​ Some will,​ some won't,​ so what,​ someone else is​ waiting
> There are many reasons why people reject your business opportunity .​
It could be due to​ money,​ time,​ family or​ personal problems,​ fear of​ rejection,​ fear of​ failure,​ etc.
> There is​ a​ ratio like 1 in​ 10 will join you​ after you​ share your business with them .​
So,​ the​ key is​ to​ share with as​ many people as​ possible .​
And the​ good news is​ that your ratio will increase.
To recap,​ this is​ what you​ must know in​ order to​ succeed in​ your network marketing business:
1) What is​ your job scope?
2) What is​ expected of​ you​ in​ your job?
3) What you​ should expect in​ your job?
In summary,​ your job is​ to​ share your business through word of​ mouth with your family and friends .​
So,​ learn to​ share as​ much as​ you​ can and you​ will get better each time.
However,​ the​ decision to​ join you​ or​ not lies with them,​ not you​ :-)
What You Must Know In Order To Succeed In Your Network Marketing Business What You Must Know In Order To Succeed In Your Network Marketing
Business Reviewed by Henda Yesti on July 09, 2018 Rating: 5

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