In this episode…
- What is The Secret to Success in Network Marketing?
- What's Network Marketing?
- SEVEN Tips to Help You Succeed in Network Marketing
The Secret to Success in Network Marketing?
I honestly can’t tell you how many times I’ve been asked that question over the past 30+ years, “What’s the SECRET to success in network marketing?”
The truth is…it’s not a secret. It’s the same thing as someone asking me for that secret, magical script that’s going to change their life forever and have everyone you talk to join your business. Don’t get me wrong, scripts are amazing! They’re frameworks for conversations…but even so, there’s no magic to it. Well…maybe a little bit.
Network marketing is a business model that has been around for literally decades and it's one that has gained even more popularity over the past several years. Things like economic downturns, pandemics, layoffs, inflation…encourages people to consider this profession even more. Moreover, network marketing as a profession moves about $183 Billion a year in goods and services through the model.
What’s Network Marketing?
For those who may not already be IN network marketing here’s what it is in a simple nutshell. It’s a business model where you become an independent representative of a company that has some type of product or service that is sold and, therefore, you then have the right to market those goods and services. Thus, you are working not as an employed sales representative, but as an independent distributor with that company.
As a result, network marketing basically involves TWO things; building a customer base to sell products or services and recruiting a team of individuals to sell products or services who earn commissions from those sales. While some people may view network marketing as a get-rich-quick scheme, the truth is that it requires a lot of hard work, dedication, and patience to succeed.
So, what is the secret to success in network marketing? The answer is simple: it's all about building relationships. Network marketing is a people business, and the key to success is developing strong relationships with your team, your customers, and your prospects.
Seven Tips to Help you Succeed in Network Marketing
If you want to know what the secret to success is in network marketing, this is it:
1. Be Authentic
Be you. Don’t be fake. People can tell when you're not being genuine, so it's important to just be yourself. Moreover, it’s easier that way anyhow. If you’re not being real, you have to try and remember who you were being before. So, share your story, your struggles, and your successes. Be vulnerable. Likewise, show your team and your customers that you're a real person, and that you care about them.
2. Listen More Than You Talk
One of the biggest mistakes that people make in network marketing is talking too much. Therefore, it's important to listen to your team, your customers, and your prospects. Ask questions then listen to them! Show that you're interested in what they have to say.
3. Provide Value
People will only buy from you if they see the value in what you're offering. Under those circumstances, make sure that your products or services are high-quality and offer real solutions to people's problems. Futhermore, provide valuable information and resources to your team, your customers, and your prospects.
4. Be Consistent
Consistency is key in network marketing. It’s interesting how probably every book ever written on success talks about this subject. In fact, while people know it and understand how important this is, they still don’t do it. Want to know the secret to success in network marketing? To sum it up, be consistent. You need to consistently show up, provide value, and be there for your team, your customers, and your prospects. In short, be consistent in your business building efforts which means consistently getting new customers and prospecting for new reps.
5. Focus on Helping Others
Ultimately, the most successful network marketers are the ones who focus on helping others. When you focus on helping your team, your customers, and your prospects achieve their goals, you'll naturally attract more people to your business. For the most part, the biggest networkers in the world focus on developing people. It’s important to note that they don’t do it FOR them, but they work WITH them and help them figure it out.
6. Have Patience
Network marketing is far from a get-rich-quick scheme. When I hear people say that I want to laugh. Yea…you can get rich in this business, but definitely not quick. On the contrary, it takes time, effort, and patience to build a successful business. You need to be willing to put in the work, even when you're not seeing immediate results.
7. Invest in Yourself
When I started in this business, it was literally right out of college. I’d spent my whole life reading, studying and taking tests. The LAST thing I wanted to do was read another book or listen to someone talk. I always remember this quote from Jim Rohn, “Formal education will make you a living. Self-education will make you a fortune.”
That stuck to me like glue. Given this point, attending training events, reading books, listening to podcasts, and surrounding yourself with successful people will be one of the best decisions you ever make in this profession. The more you invest in yourself, the more you'll be able to help others and build a successful network marketing business.
Ultimately, the secret to success in network marketing is that it’s no secret at all. It definitely takes hard work, persistence, dedication, the willingness to learn and a focus on the activities that matter the most.
Thanks for tuning into The Fearless Networker™ Podcast. Listen to the show, comment and leave a rating to let me know what you think of this episode. Post any questions you may have and tell us about your experiences regarding this subject. I’m looking forward to hearing what you have to share.