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Network Marketing: Extended Definition
Entrepreneurial spirit is sweeping the Nation's interest at a phenomenal rate; people everywhere are exploring startup opportunities for a new home or internet-based business. Network marketing is the powerful engine turbo-driving this skyward trend. Most home (or internet) based companies share a common, sales-approach trait: they utilize network marketing techniques and skills to achieve business success.
This report provides a definition of what network marketing is. It also touches on some of the who, what, when, where, and whys associated with this often ambiguously interpreted phrase.
What is Network Marketing?
Network (v. intr.): To interact or engage in informal communication with others for mutual assistance or support.
Marketing (n.): The act or process of buying and selling in a market. (The American Heritage® Dictionary of the English Language)
Thus a laymen's term for network marketing could be: People helping people to prosper by the consumption of related products, information, and/or services, in a collaborative team-inspired effort of self-empowerment.
Network marketing is also referred to as Multilevel Marketing (MLM) or Cooperative Marketing. It is the process of selling products, services, information, or business opportunities through personal or individual relationships with family, friends, coworkers, and a variety of others. The main goal focuses not only on selling the particular commodity, but also encourages the purchasing party's involvement in selling the services or product themselves. In return, these people often receive discounted products or services as well as monetary compensation. Usually, the more people you get involved in this method of self-benefiting product distribution, the more benefits or rewards you yourself receive.
Network marketing is synonymously referred to as Multi-Level-Marketing or MLM.
MLM companies usually thrive on some form of tier structured compensation plan. Simply put, the more prospects [people] you get involved in your business, the more residual income you make. Residual income can be thought of as "money earned from your prospects' efforts". This type of income is called residual income and is often coined an intangible asset.
Over the years many different types of MLM companies have come and gone. Lack of standard business policies and procedures, accountability, and other reputable reference availability often drove these businesses to inevitable failure. Many were even dubbed illegal due to unethical practices. One fundraising source states: "Many MLMs were viewed as get rich quick scams and disregarded by the general population. These scams were often referred to as Pyramid schemes and were well planned scams". (Profit Quests Fundraising; The MLM File).
Who participates in Network Marketing?
Common people, such as you and I! We often share our excitement of a newly discovered product or service with our friends or relatives. This may have influence on their future purchase or use of that particular commodity. They in turn tell a neighbor, friend, or coworker, and BOOM!: we're participating in word of mouth referral, a common method of network marketing.
Entrepreneurs! Self-motivated people involved in a successful home-based or internet-based businesses use network marketing strategies to successfully thrive in the marketplace. These people connect with network marketing concepts and practices on a more advanced level, often as their sole source of livelihood.
Network marketing at it's peak or apex level of performance, boasts millionaires around the world. Successful network marketing companies include USANA, SFI Marketing, Mellaleuca, Mary Kay Cosmetics, Avon, and many others. (Susan Ward)
Why do people get involved?
There are many reasons why people get involved in network marketing. Some do it unknowingly for the self-satisfaction of helping others. Some stumble into the business by accident, getting 'hooked' on a particular brand or product. Others seek out the unlimited opportunities this type of self-sufficient livelihood can provide.
People working in this industry reap substantial tax benefits! According to USANA's marketing material, people can legally save thousands of dollars with home-based business deductions. (Usana Health Sciences).
"Every North-American Taxpayer who works a full-time job and does not have a side business is probably overpaying taxes to the tune of $3,000 to $9,000 a year!" (Sandy Botkin)
According to one popular newsletter, over 20 million people worldwide, are involved in cooperative marketing and their sales are in excess of one billion dollars. People turn to this type of livelihood for many factors, including current unfavorable economic conditions. (The MLM Watchdog).
When will it happen?
We subconsciously exchange information, ideas, and suggestions, to those around us every day. It probably hasn't been that long since you had a positive or negative impact on someone else's decision making. Maybe you revealed to your neighbor how much $$ you saved since you started shopping at the discount food store. Or how about last night's phone conversation with a friend relaying the HOT SALE he or she just stumbled upon at a particular salon. Without methodically thinking of it, you were sharing information that was self-rewarding and of mutual benefit. These are examples of network marketing occurring at it's simplest level.
"Either we take hold of the future or the future will take hold of us", Dr Patrick Dixon Chairman Global Change Ltd, (http://www.globalchange.com/captur.html).
How To Network Market
An in-depth view of the how to principles of network marketing is beyond the scope of this article. However, the internet has a growing stream of information: One simple Google search for 'network marketing' returns 83,900,000 entries on the topic. Today's technological advancements in sharing electronic information has made it easier than ever to explore network marketing, particularly through affiliated programs and sponsors.
Carol Lynn Pearson.
"Dictionary." The American Heritage® Dictionary of the English Language, Fourth Edition
The MLM File, http://www.mlmwatchdog.com/Archives2004_3.html, date accessed 9/14/04
The MLM Watchdog Archives. "Discover Cooperative Marketing" http://www.discoveryourbusiness.com/index.php?13509, date accessed 9/15/04
"A New Trend In Fundraising ? Part 1", Profits Quest Fundraising http://www.profitquests.com/ArticleNewTrend.html, date accessed 9/15/04
Susan Ward. http://sbinfocanada.about.com/cs/marketing/g/mlm.htm>
Sandy Botkin. Usana Health Sciences, http://www.usana.com/opportunity/pres/index.shtml
Usana Health Sciences, http://www.usana.com
MLM Cyanide Pills: Top 5 Sure-fire Ways to Kill Your Network Marketing Business
If I walk down the street today, telling people about my network marketing opportunity, and someone asks me "Isn't that a pyramid scheme?", then that guy is bound to get a hard knock on the head. Network marketing, since many years ago, have come out of the closet and it's somewhat 'shady' and 'unorganized' practices.
MLM Training- The New MLM Distributors Getting Started Checklist
A List for MLM Success.
I Could Have Quit $1,000,000 Ago
Two Things (Maybe Three):
Multi level Marketing- The Three Top Secrets of Multi level Marketing Success
So many times we have seen in this industry people not really understanding Multi level Marketing, and because of that, truly do the industry a disservice by leaving the industry, and then saying bad things about it. True, charlatans are in every industry, but if they had only known and embraced the three secrets that I am going to cover, it might have ended up a different result.
Traditional University or MLM University? You Choose
Time moves very fast and time is money, as they say. When people seek other types of knowledge in life, such as general knowledge acquired from traditional schools, colleges and universities, they are prepared to wait and spend 3-7 years before they can see result they seek such as grades and Degree.
4 Unfortunate Myths About Online MLM
Experts and newbies are alike in misunderstanding the way online MLM works, and under-estimating the steps involved.
25 Proven Strategies For Improving Your Telephone Results To Build Your MLM Dowline
1. Reap what you sow! What does that mean? It's vital you keep prospecting to keep the funnel full. The prospecting funnel is the life-blood of your network marketing business. It's the heartbeat of your business.
Hey, I Have A Prospect! What Should I Do Now?
If you are in multi level marketing system, you have to get many prospects until they join to your business. You must follow up your prospect. But, not every person can make a good communication with their prospect. They follow up their prospect but they don't make a good communication. The problem is ; they let them go away or join with somebody else who can make them trust. It's a big problem! A good communication is a key to reach success in any business, especially in multi level marketing business.
MLM Recruiting-The Power of One New Thought for MLM Success
Do you understand the Power of one new thought in your MLM Recruiting?
Network Marketing Success- Network Marketing Success Vault Secrets
Network Marketing Success is very elusive, as most do not know the Combination to the Lock of Network Marketing Success. Most folks are too busy "working the business" to ever become successful in Network Marketing. You need to understand that most people are "Locked Out" of Success because they don't know the 5 Most Powerful Secrets of Network Marketing Success.
Time To Start Engaging With Your Downline
When you start your network marketing home based business, you quickly ascertain that your downline will make or break your business. Don't expect an affiliate to stay in this business long unless they have a mentor which will help them along every step of the way in the first few months. That's predominantly when you have to be there for them. Potential "opt ins" are getting much more skeptical nowadays as the internet is littered with network marketing scams. YOU have to stand out from the crowd. Here is three ways to make this possible.
"Honey, I tried to tell you this wouldn't work."
Network Marketing - What Are the Benefits of MLM?
Why is that the case? We have a University system that teaches you how to be a worker drone in the collective! You go to school and get an education, then you get a job and work in the 45 year plan and then you retire and live your golden years depending on other people. What a wonderful concept!
MLM Frauds ? How to Avoid Them
Abraham Lincoln said "You can fool all of the people some of the time, and some of the people all of the time. But you can't fool all of the people all of the time." I sometimes wonder whether it was prophetically written for all those scam filled home-businesses, and Multi-level Marketing Companies mushrooming all over the place.
Network Marketing Strategy
Network marketing strategy is all about achieving success in the network marketing business that you create for yourself. And that means working in your time and space and ways that you feel comfortable in. More often than not, people don't like their 9 to 5 jobs at all. But they do want to earn substantially well. This does sound like a contradiction in terms, but is entirely possible provided you have a well thought out network marketing strategy in place.
MLM Training- The Secret of the Daily Success Actions of the MLM Millionaire
Internet Marketing Idea: Use Internet Marketing to Sell Network Marketing or MLM
Experienced Internet Marketers and beginners alike have one thing is common. They need products or services to market on the Internet.
Become A Young Millionaire? Can You?
You already registered as a member of company, lets call it Ding Duck, and they market. They are a Network Marketing company and you have this idea that you will reach the level of Young Millionaire in one year. So today is April 15, 2005 and by April 15, 2006 you will be a Young Millionaire in Ding Duck earning $4000 per month ($48,000 per year).
Is Network Marketing the Right Business for You?
I have often wondered why people get involved in Network Marketing businesses only to jump from one business to another. For most people, the reason for having his or her own business is to allow themselves more flexibility to do the things that owning a business permits. Such as being your own boss, controlling the amount of income that you earn, being in charge of the daily running of the business and much, much more!
MLM Success Secrets- MLM Success in the FAST Lane
I had an upline once tell me, who by the way, has done 6 BILLION in this industry, that you need to work your business fast, not slow, and rapidly, not timidly. And if you did this one thing, your Network Marketing business would become more successful and the business would become easier. That alone would help start building some momentum, and build some real Power within your business.
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