As online businesses keep up with the pace of technology’s rise, the number of entrepreneurs who want to try their luck in the trade is also increasing. One of the most common business models is network marketing, a system where members are compensated not just for the products they are able to sell, they also receive a percentage for the sales made by the people they were able to recruit. These days, network marketing, also known as multi-level-marketing, has crossed the border between traditional methods of selling and the online business scene.
As the interest of more startup business owners are piqued, the buzz about network marketing is also growing. However, not everyone has a clue how to really begin, much less do it. So what’s a budding entrepreneur got to do? Besides believing in yourself and in your product, here are other five things you can do that successful multilevel marketers swear by:
1. Set clear objectives and goals
If you are one of those who believe that you were born to sell, being enthusiastic about multilevel marketing wouldn’t be a problem. But sometimes, people can be a little too excited to begin that they want to start at every possible angle. When it’s time to get down to business, it can help if you curb your enthusiasm a bit and focus on setting your objectives and goals as you board the network marketing ship.
Make a list of the things that you want to accomplish through your business and identify whether they are short-term, mid-term, or long-term goals. Your goal may be to buy your dream car, go on that luxurious cruise, or save enough money to send your kids to college. Whatever it is, lay them down and devise means on how you can achieve these things. You can also break down your goals into smaller achievements and treat them as stepping stones to reaching your bigger goals. A list will also help you keep track of your progress and help you determine how close you are to realizing one goal after another.
2. Find a mentor
While there is nothing wrong with being self-taught, finding a mentor who can show you the ropes and guide your ascent to business success wouldn’t hurt. Ideally, you should train under those who already have a wealth of experience not just in multilevel marketing, but also in selling your product. They can teach you techniques that you can use when you finally hit the salt mines, and they can warn you about pitfalls and setbacks that you might encounter in the field.
3. Put up a website
Not all multilevel marketing firms come with a free website that you can use to promote yourself and the brand. This is one perk that Herbal Nutrition gives its distributors upon signing up. Use your website to give your brand exposure and to communicate with your target audience. You can also fill it with different types of content to make your site more interactive. Apart from articles and blogs, you can also upload photos, videos, and infographics about your business and your brand. To make your online presence stronger, you can also engage your target audience through social networking sites such as Facebook, Twitter, and Google+.
4. Expand your network
One of the tenets of promoting and selling online is to build and expand your network as much as you can, and the same principle can be applied to multilevel marketing. In addition, the point of MLM is not just to make the brand prosper, as its bigger goal is to help succeed in the business. While people might find your product and its benefits appealing, they would be more interested in how it can help them improve their lives on a long-term basis. So whenever opportunity presents itself, make friends with people in your community or in events relevant to your business.
5. Sell the idea, not just the product
The scope of multilevel marketing is broadening at a quick pace so it shouldn’t be a surprise that your target audience have had its share of multilevel marketers’ speech. This presents the possibility that they might not be so keen on listening to you but you have to know that there is a way around it. Instead of convincing them to try your product, sell them the idea or philosophy behind it. Take Herbalife, for instance. While its products are known worldwide for their effectiveness, distributors bank on the ideology that these items can help the consumers improve their wellbeing while earning a decent living at the same time.
If you, too, have tips on how startup multilevel marketers can succeed at their endeavor, feel free to share it with us in the comments box.