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The Three Primary Powers Of Network Marketing
Network Marketing, 'MLM', and Multi Level Marketing are all terms that refer to the same type of business model. This industry has had more than it's share of scumbag crooks and con artists that have used and abused the concept. However, if you do your homework and get involved with a legitimate network marketing organization, this business model has exceptional income potential.
Network Marketing can produce outstanding results if you know a few simple concepts, the understanding of which is critical to your success.
Network Marketing, MLM, and Multilevel Marketing are unlike franchises or conventional businesses in that they take advantage of all three of the important, yet misunderstood principles of:
1) Leverage (of Time and Money)
2) Residual Income
3) Geometric Growth Through Duplication
Unfortunately these principles are not well understood by many of the people that undertake network marketing. And that's just one of many reasons why so many fail at network marketing. There are lots of other reasons, and it would take volumes to cover them all. But this is one of the more common ones. Because if you don't comprehend and believe in these principles, it's impossible to help others fully understand and appreciate them.
First, lets look at LEVERAGE:
Every successful person or business takes advantage of leverage. There are only 24 hours in a day and no matter how talented you are or how much you get paid per hour, if you don't take advantage of leverage you're limited by the number of hours in a day. As a side note, I have heard of cases where an occasional lawyer was billing more than 24 hours per day...but, I guess that's another story. By learning to leverage your time, you can also benefit from a percentage of other people's efforts, and dramatically increase your income while creating more free time for yourself.
The unique and wonderful thing about the Network Marketing business model is that everyone has the same opportunity to become the 'owner' of his or her own business - with a fraction of the investment of time and money of a franchise or traditional business.
In network marketing the people at the top definitely have a vested interest in helping others on their team succeed.
Would you rather receive 100% of one person's efforts, or 5% of the efforts of 100 people?
Obviously 100% of one is always only ONE. But 5% of 100 is FIVE.
Not only will the total result with leverage almost always be amplified, but your income is not dependent on only one person. If your income is produced by the activities of many, it is much more dependable. Even if something unexpected or negative happens to one or more of those people, it only has a minor effect on the TOTAL production.
It's great to get paid while you're sleeping or away on vacation. That's one of the many advantages of leveraging your time.
Now, lets consider RESIDUAL INCOME:
When someone mentions residual income many people automatically think of actors or musicians.
Residual income is recurring income that you continue to receive long after the work you've done to produce it has ended. There are lots of ways to produce residual income. However, many people don't understand it, and still others have never thought about or been exposed to it.
A very simple example of residual income is interest earned on money in the bank or investments. You continue to receive this income without having to invest any more time to produce it.
Suppose you had the choice of doing a job and earning $1,000 once, or getting paid $50/month for the rest of your life...which would you choose? If you chose the $50/month you obviously "get" the concept of residual income.
Clearly, $50/month will surpass a single payment of $1,000 relatively quickly. And if it lasts for a few years, or better yet - the rest of your life - it will really be a blessing.
Residual income is certainly not about "getting rich quickly", even though with the right opportunity it's possible to produce a substantial residual income stream in a relatively short time.
Most people who fail at network marketing either choose the wrong network organization or just give up too soon and quit because they expect overnight results. It is important to recognize that the real beauty of residual income is on the back end, not the front, and that once you build it you have the financial security and time flexibility to do just about anything you desire for the rest of your life!
Last, but not least, lets address GEOMETRIC GROWTH (DUPLICATION):
The classic illustration of geometric growth is the frequently used penny-a-day example.If you save one penny on the first day, and double it every successive day, (day two you have 2 pennies and day three you have 4 pennies, and so on) how much will you have at the end of 30 days?
The answer, to the astonishment of many, is $5,368,708! Amazing, but true.
That's a simple and dramatic illustration of how networking can work. If I can teach you, I've doubled myself. If we each teach someone else, we've doubled again. As this duplication or geometric growth process goes on and on, it can produce some amazing results in a relatively short period of time, just like the penny example above.
So there you have it, understand and apply these three principles
1) Leverage (of Time and Money)
2) Residual Income
3) Geometric Growth Through Duplication
and, given sufficient time and effort, you should enjoy a successful and financially rewarding network marketing experience.
Kirk Bannerman operates a successful home based business and coaches others seeking to start their own home based business.
Visit his website at Legitimate Home Based Business for more details.
Are You Looking to Get in on the Ground Floor of the Next Amway? Here Are 7 Things to Look For!
Just like a Penny stock market investor wants to Find the Next Microsoft, a Network Marketer wants to be in on the Ground floor of the next Amway. Joining an MLM Company in it's infancy to find that next Amway is just as risky and possibly more Rewarding then those Penny Stock Investors seeking the next Microsoft.
MLM Lead Generation
In Multi-level marketing (MLM), or network marketing, the business owner recruits other independent distributors into his or her network. These prospects are known as MLM leads because they have shown some interest in the business opportunity. The MLM leads are, at first, usually comprised of the business owner's friends, family, and acquaintances. Once these resources have been exhausted, the business owner must uncover new prospects to recruit into his or her network. This process, known as MLM lead generation, can be time consuming and quite costly.
How I Made Network Marketing Work For Me
So you have been sold the dream. Your friend has come to you,
MLM Prospecting- The 4 Steps to BLAZING Network Marketing Prospecting
What is MLM Prospecting?
New Life, New Blood, New Ideas, and New Activity
This is an interested point I read in the Book "Success through a Postive Mental Attitude".
Finding Your WHY!
"Finding these three letters: W. H. Y. will guarantee you ultimate success in your life and in Network Marketing!"
Finding Targeted MLM Leads
The objective of multi-level marketing (MLM) is to sell the product or service and to encourage the client to become an independent distributor, who then sells the service or product as well. Leads are vital for any business to grow, and in order for the business owner to have the greatest success, the leads must be curious enough in the business opportunity to have expressed an interest. The prospects that have expressed an interest in becoming distributors are known as Targeted MLM Leads.
The Power of Viral Marketing
Viral marketing is one of the most powerful forms of marketing on the Internet. Viral Marketing is giving something away for free and allowing people to pass it on to others. The concept of free has fueled the imagination and the success of the Internet itself. And, although the free business model has been greatly scaled back in the post-bust Internet days, it is difficult to argue with the viral marketing success achieved by the early pioneers of free email, free web sites, free autoresponders, etc.
Network Marketing Decisions: Ask Mr. Kipling
I kept six honest serving men, They taught me all I knew. Their names are What and Why and When And How and Where and Who.
MLM Success Training - The Top 15 Power Phrases for Recruiting Business Professionals into MLM
What do you say to a small business owner? How do you talk to them about your Network marketing business? Many people have tried, and totally failed.
The 4 Major Enemies to Online Success
For any of you just starting in online marketing you will soon learn it is not as easy as you probably first thought. If you are like me you signed up to a affiliate program and just expected the money to come flying in. Unfortunately this is not the case, but do not be discouraged, there is hope. As the story below illustrates if you are patient, persistent and not distracted by the 4 enemies to success soon enough the money will start rolling in just as it does today for Mark Yarnell.
The MLM Revolving Door Syndrome
In the 15+ years I've been involved with network marketing, the number of people who come and go never cease to amaze me! Sometimes it seems like a revolving door.
MLM Network Marketing - Why Failure Rate Is so High?
In recent years people are increasingly looking for extra source of income. They are prepared to utilize their spare hours and work at home to pursue their cherished dream of financial freedom. Many of them are attracted towards MLM network marketing for variety of reasons. There are thousands of multi level affiliate programs which promise tremendous business opportunity. Internet has made it possible to work from the comfort of your home.
How To Get a Big Downline Without Being a SuperPromoter
Do you routinely sign up thousands of direct referrals? Me either. I do get a lot of signups for some of my programs without doing ANY promoting. Want to know my secret? I submit new programs to a downline club.
Which MLM Opportunity?
So, you have become an MLM Opportunity Seeker and you have made the decision that you want to change your life. Perhaps you have been introduced to an MLM/Network Marketing Opportunity through a family or friend, or even friend of a friend.
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.
Network Marketing Training - Secrets to Inoculating Yourself Against Negative People
The Inoculation, What You Are Going to Face in MLM.
Are You A Network Marketing Professional? Or, Are You An Amateur?
Do you look like a professional Network Marketer? Do You Talk like a professional Network Marketer? Do you write like a professional Network Marketer?
Network Marketing Internet Business Basics
A network marketing Internet business is what millions of ordinary people are making extraordinary money from. You can too, but only if you put your mind to it. Come to think of it, a network marketing Internet business is no different from any other online business. The fundamentals are the same. What changes are the parameters. So what's keeping you from running your own successful network marketing Internet business? Nothing! Just find a legit core opportunity and get going.
Finding The Intangible
This article is dedicated to novice entrepreneurs who are struggling to make sense out of the internet jungle they have invaded. Please point them in the right direction when they become lost. You have permission to publish this offering if you don't charge for it, and the resource box is left intact. It would be appreciated if you would notify me when you do at firstname.lastname@example.org. Total words 767.
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