Network marketing can be considered as one of the most rewarding and lucrative career option. If done correctly, this business can make you financially wealthy while having a personal growth. However, don't just jump in without knowing how it works or you might end up struggling.
Network marketing can be considered as one of the most rewarding and lucrative career option. If done correctly, this business can make you financially wealthy while having a personal growth. However, don't just jump in without knowing how it works or you might end up struggling.
Most Filipinos joined network marketing companies because of hype, get excited in a few months, then fail. Why? One of the reasons why most beginner Fiipino networker don't make a fortune is that they failed to understand the network marketing cycle. All they knew is that when they join a network company, they will receive an enourmous amount of returns after they pay the joining fees. Often, this is just one of the promises your upline tells you to convince you to join their network.
Network Marketing is a continous cycle and a beginner networker should understand every phases of it to expand the business and become successful.
The Network Marketing Cycle:
1. Prospecting - This phase is called the lead generation phase. You will need to find people to bring in potential customers, affiliates or downlines to your company's business presentation. There are various ways to generate prospects or leads, the methods may vary depending on your own preference, or your sponsor's strategies.
2. Presenting - The selling or marketing phase. You will need to learn the proper way of presenting. selling or marketing so that your prospects will try your products and eventually join your company.
3. Sponsoring - This is the trust and relationship building phase. You should learn how to convert your prospects to become your affiliate or associate. Networking does not end after the payment of membership or joining fee. The primary objective of network marketing is to build a team and a better relationship. As a networker, you should learn how to lead and give your full support to your downlines. Your success lies to the success of your downlines.
4. Coaching - The duplication phase. You should teach your downlines every secret and strategies as this will be your key to achieve success. You should also learn how to become coachable as there are a lot of things to learn be it from your upline, downline, crossline, or other people outside of your network.
As you can see, Network Marketing is not a get-rich-quick scheme. It requires a lot of learning and personal development before you can achieve true financial freedom. Most networkers failed because they have quit before the cycle begins.
Most Filipinos joined network marketing companies because of hype, get excited in a few months, then fail. Why? One of the reasons why most beginner Fiipino networker don't make a fortune is that they failed to understand the network marketing cycle. All they knew is that when they join a network company, they will receive an enourmous amount of returns after they pay the joining fees. Often, this is just one of the promises your upline tells you to convince you to join their network.
Network Marketing is a continous cycle and a beginner networker should understand every phases of it to expand the business and become successful.
The Network Marketing Cycle:
1. Prospecting - This phase is called the lead generation phase. You will need to find people to bring in potential customers, affiliates or downlines to your company's business presentation. There are various ways to generate prospects or leads, the methods may vary depending on your own preference, or your sponsor's strategies.
2. Presenting - The selling or marketing phase. You will need to learn the proper way of presenting. selling or marketing so that your prospects will try your products and eventually join your company.
3. Sponsoring - This is the trust and relationship building phase. You should learn how to convert your prospects to become your affiliate or associate. Networking does not end after the payment of membership or joining fee. The primary objective of network marketing is to build a team and a better relationship. As a networker, you should learn how to lead and give your full support to your downlines. Your success lies to the success of your downlines.
4. Coaching - The duplication phase. You should teach your downlines every secret and strategies as this will be your key to achieve success. You should also learn how to become coachable as there are a lot of things to learn be it from your upline, downline, crossline, or other people outside of your network.
As you can see, Network Marketing is not a get-rich-quick scheme. It requires a lot of learning and personal development before you can achieve true financial freedom. Most networkers failed because they have quit before the cycle begins.
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