Network marketing is a low-overhead, home based business that can actually offer many of the tax advantages associated with owning your own business. Most are legitimate businesses, not fly by night schemes and is one of the few businesses that doesn't require stand alone bricks and mortar yet enables the owner to leverage his or her time by building a network of independent businesspeople. It is very definitely a relationship business and each relationship typically starts out with two complete strangers sitting at their respective keyboards legitimately wondering about the motivations and desires of the other. Over time, respect and trust build between them and the network prospers as a result, bringing in new people and thus building the network.
Network Marketing primarily is a business about helping people which therefore means it is NOT the same as pyramid selling. Neither is it chasing down your friends and family to buy unlike the demands of so many Multi Level Marketing (MLM) schemes. It is sometimes confused with multi-level marketing but is distinct from MLM type businesses usually in both the remuneration offered and the method of attracting sales. Most genuine Network Marketing schemes rely more on electronic advertising than the classic MLM style of fliers in the shopping centres, cold calling and letter drops.
Many products such as communication services, internet access, nutritional products, water filtration systems, financial programs and a host not mentioned here can all be sold via this medium. Whether that is accomplished through advertising, a hired sales force for a set amount of pay or using a particular vendor such as a department store or the Internet, the seller must decide but usually it is done via the internet. To gauge its burgeoning popularity, it has experienced 91-percent growth in the last 10 years with annual sales in excess of $30 billion in the United States, and $100 billion worldwide. There's a common myth that network marketing is all about selling, so many people who don't see themselves as "sales people" away from} it. The truth is, most of the people who are a huge success in network marketing aren't sales types, and tend to be more introverted. As Wall Street blew up and the economy melted down, a number of large these corporations posted some of the largest sales figures in their history. As the business owner, you get a commission from the sales of these products and services every time your customer re-orders them.
In my experience, most top networking income earners hate selling. Therefore the product has to basically sell itself for these people to have succeeded. The trick they have found is promoting the right product that people want to buy.
This business is one of the few businesses that does not require employees, yet enables the owner to leverage his or her time by building a network of independent business people and is probably the easiest way to create passive wealth from nothing. The team building aspect of network marketing is of vital importance to the success of each individual member and to the team as a whole. Two key elements of team building are trust and confidence and these factors play a very large role, particularly for new team members. Network marketers who are serious about building a business should be reading and learning about business fundamentals, the latest sales and marketing techniques, strategies for networking and business development, etc. Network Marketing is a familiar marketing strategy that involves direct recruitment of salespeople, who then sell the product and recruits more salespeople, building an extensive network.
Network Marketing is about the only way for the average person, who likely has little or no prior business experience or technical training, to establish a potentially world-wide marketing organization which can be highly profitable and long term and can be run directly out of their present home. Network Marketing is also a serious business, not a hobby, and it is for serious people.
The most important aspect for anyone considering network marketing is to ascertain the level of training they will get from their network. Some network marketing businesses have next to no training which therefore makes them virtually useless to the new business owner. The prospective network marketer must ensure that their new network trains them extensively in both their product and the best methods to promote that product.