Network marketing is a business model in which participants identify a business and promote its products and services in exchange for commissions and other incentives with the ultimate goal of creating a system stream of residual income. It is a free enterprise concept, allowing participants to build their individual network of marketers and earn as much as they can based on their performance.

Network marketing allows individual merchants or distributors to earn from their own efforts and those of their partners or team members.

To be successful in network marketing, the emphasis should not be on the products and services being promoted, but on the business opportunity that the scheme provides to its participants.

Many people join the scheme thinking it is a “get rich quick” program that they can use to meet immediate financial needs. If that is the only reason you are in network marketing, you may need to look at other opportunities as network marketing is for those who will be patient enough to see a business grow from scratch.

Network marketing is not for lazy people, but for those who are ready to work hard. And it is imperative to state here that if you put in the effort, you will surely reap the reward. Never sign up for a network marketing scheme when you’re not ready to put in the effort.

No matter what promoters promised in the prospecting process, they won’t help you get the business when you finally join. They can help you with training and support materials, but it will be rare for someone to help you promote your own organization in the company.

In network marketing, you are your own boss and your business is with you wherever you live. With the use of the Internet, your business becomes global and without borders, since you can do business with people anywhere in the world where there is Internet without you residing in those countries.

This post is about how to be successful in network marketing in 6 steps.

1. Choose a company to join

There are many network marketing companies out there with great products and services, as well as good compensation plans. It is your responsibility to do the research necessary to identify a good company to work with. The following tips will help:

First, the business must have a physical address/location. It must be duly registered by the necessary government agencies. There should be a place where participants can go when they need certain information or settlement other than the websites.

Second, there must be products or services that the company is promoting. Make sure products and services are relevant and affordable. In addition, the products must be easy to use and understand. There should be no ambiguity in the deployment of the products. Products or services that require a lot of explanation and conviction should be avoided.

Please note that any scheme that rewards based on recruitment and not on products or services sold is a ponzi scheme and should be ruled out.

Third, there must be a compensation plan. That’s what you’re working for. It’s the reason you’re in it! The compensation plan should be simple and achievable. Don’t be fooled by an unrealistic compensation plan. Avoid a complicated plan that is not easily replicated among team members. A good compensation plan is one that is easily duplicated among team members, regardless of their level of literacy.

2. Being a client of the company

That is an area where many are failing in network marketing. Before introducing a product to your friends and loved ones, you must have tried it. You must know what the product is about. You must be willing to invest your personal money if you want others to invest yours.

Being a client of the company makes you feel proud and confident of your product and business opportunity. There would be no feeling of guilt while talking about the product since you have also purchased it for personal use.

3. Learn how the business works

This is a fundamental requirement in network marketing. The more you learn, the further you will go in business. Learn about the company through brochures, catalogs, CDs, flyers, and special trainings and lectures.

Learn from those ahead of you in the company and the business. There advice and counseling can be of great help in reaching your goals.

4. Create an online presence

Network marketing is often referred to as business without borders. Actually, that will not be possible unless you have an online presence. The Internet gives you the opportunity to interact with people from different parts of the world with little to no stress.

Some companies allow their distributors to create their own business websites to promote their business to the world. Take advantage of social sites and forums like Facebook, Twitter, LinkedIn, Nairaland, Warrior forum to promote your business to potential customers. The opportunities online are limitless!

5. Recommend to others

This is what you always do. When you see a good restaurant, for example, you talk about it and recommend it to friends and family. This is what network marketing is all about. You refer friends, family, colleagues and neighbors to the company to do the same as you.

You’re not just marketing a product or service, you’re helping the people around you benefit from a company’s product or service and your business opportunity.

The number to refer at first is based on the company’s compensation plan.

6. Duplicate over and over again

An effective financial system is one that can be easily duplicated. The success of network marketers lies in their ability to duplicate the process over and over again. It’s no different than when in a 9 to 5 job, you work month after month doing the same job to earn a salary.

In the same way, in network marketing, you keep repeating the process day after day to earn commissions, bonuses, and other incentives. The faster you complete the process, the better.

The 6 steps highlighted above, if carefully followed, will greatly assist the success of any network marketer whose goal is to achieve network marketing success.

I would like to hear from you as well, as your opinion can help many of my readers. Kindly share your thoughts on this post via the comment box below. And if this post will help someone around you, feel free to share it with your social circle.