Networking marketing is still a fantastic business model to provide you with an additional income stream should business slow down. With the emergence of internet based network marketing opportunities the chances of you finding a business that compliments your business activity is even more likely.
Years ago just the thought of network marketing was enough to scare people away (and it still is even now but not as much!) Rumours of lost income and pyramind schemes saw innocent people robbed and disillusioned but it doesn’t have to be that way.
A little due diligence can go a long way towards ensuring that you find a reputable company that will support you in your efforts of building a profitable network marketing business. It’s really easy to be sucked in by a flash presentation and big income promises but the real work comes from researching the company, it’s management and it’s financial position before you sign the dotted line.
Your sponsor should also be an important determining factor and their ability to keep you motivated and on track.
It’s also important to remember that it’s not all income and glamour, there is a scary statistic that I read recently which shows only a very small percentage (2-3%) actually make a huge six figure income through network marketing with many more leaving before they really get started.
But many people still enjoy a regular ongoing income if they stick with their business for a few years and keep working at it.
Running a network marketing business takes work and commitment. It is no different to running your own business and if you happen to be doing both then it’s easy to see why people give up. So it’s always good to remember when you are considering taking on an extra business that it’s going to take your time, energy and extra money in promotion if you want it to suceed.
For that reason it is important to find a company that you really like, either because of their product or their work ethic. If you can promote your network marketing business to your current clients that can make it even more worthwhile.
It makes it easier when you are feeling like you are tired of promoting or if you have had yet another person say no!
I know a yoga teacher who promotes Herbal Life, a therapist who promotes Tahitain Noni Juice, quite a few Life Coaches who promote Success University and because these businesses fit in well with their current business they are able to enjoy the extra income and even recruit new distributors.
I run 2 network marketing businesses providing different topics but both of them fit into my love of personal development and internet marketing. HelloWorld provides me with an opportunity to promote the work that I do and publish events that I record (all be it briefly) as well as fulfilling my love of streaming digital media (I am becoming quite the geek!) and Success University is an alternative to coaching for people who can’t afford it, or for people who just need a “maintenance” program to keep them focused. But I don’t only promote these products I use them too.
There are many benefits to running your own network marketing internet based business and I will be talking alot about them over the coming weeks because I believe in it’s power as a business model. It has certainly kept my head above water over the last few months as I gave up coaching to focus on building my online business Women Internet Marketers.
Ultimately I want to be known for developing my own business but as I believe in the power of developing income streams from many sources network marketing is still a powerful source to consider.
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