Relationships Are The Key To A Network Marketing Business
While it is true that heavily branded websites like amazon.com are household names and carry an implied trust with visitors, the vast majority of websites are not well known and are found and visited as a result of searches performed with search engines. In these instances, the visitor is probably arriving at the website for the first time and human nature often dictates fear or suspicion of the unknown.
If someone is shopping around for the best price for a particular item, say a Cuisinart food processor, they would probably go to a site such as Ask Jeeves (at ask.com using the Smart Search for Products feature) and quickly obtain a list of sources and prices for the desired item. The "yes/no" purchase decision has already been made and it is simply a question of who to buy it from.
In the case of network marketing, it is of critical importance to build a sense of trust with your team members. Network marketing is very definitely a relationship business and each relationship typically starts out with two complete strangers sitting at their respective keyboards.
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.
As a team leader, you need to be knowledgeable about the business (products, services, or whatever) and straightforward with answers to questions about the business as well as providing timely and thorough support to your team members. These actions will cement the relationship and build trust and confidence among your team members.
Network marketing has many aspects, but promotion, persistence, and patience are three key elements which are critical to achieving successful results.
PROMOTION is the lifeblood of network marketing. Whether you are using online methods or offline methods, or a combination of both, you must constantly strive to get your offering in front of a targeted audience.
There are thousands of published sources that deal with specific methods of network marketing (both online and offline), but the key point to be made here is that you must have an active promotion campaign designed to bring in a steady stream of new prospective downline members.
PERSISTENCE is a key element in network marketing success. You've gotta "just keep on keepin' on", even though frustation levels can be quite high at times.
After you have been at it a while, and have a downline large enough to provide reasonably accurate statistics, you will probably find that about 95% of your downline members are dormant and do nothing at all. Its easy to get down in the dumps or take it personally when you encounter so many "do nothing" people.
Therefore, it is really important work with and actively support the 5% or so that are serious about participating. And clearly, an active and effective promotion campaign will continue to bring in increasing numbers of potential participants so that while 5% is small on a percentage basis, it can still be a sizeable amount from a pure numbers standpoint.
PATIENCE is vital. You can expect that it will take about a year before the awsome power of geometric growth kicks in.
A classic illustration of geometric growth is the frequently used penny-a-day example.
If you save one penny on the first day, and double it every successive day, (day two you have 2 pennies and day three you have 4 pennies, and so on) how much will you have at the end of 30 days? The answer, to the astonishment of many, is $5,368,708! Amazing, but true.
Its a sad statistic that most network marketers fail and it is often traceable to the fact that they did not exhibit enough persistence and patience to continue constantly promoting their business for the year or so that is required for success.
Network marketers that stick with it for a year or more often end up becoming the proverbial "heavy hitters".
In closing, I would like to encourage you to increase your chances of becoming a successful network marketer by always keeping a clear focus on "the three P's" of Promotion, Persistence, and Patience.
Kirk Bannerman operates a successful home based business and coaches others seeking to start their own home based business. Visit his website at Legitimate Home Based Business for more details.
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MarketWatch - By John Spence, MarketWatch BOSTON (MarketWatch) -- Wells Fargo & Co. may get as much as 80% of Wachovia Corp.'s deposits, with the remainder likely going to Citigroup Inc., according to a published report Tuesday. Citi, Wachovia, Wells temporarily halt litigation Wachovia shares waver as Citi, Wells Fargo wrangle Publ.Date : Tue, 07 Oct 2008 20:17:51 GMT Qantas Involved in Another Air Incident - New York Times
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Washington Post - Thailand's military agreed Tuesday to deploy hundreds of unarmed soldiers to the streets of Bangkok to help police restore order after violent clashes between police and protesters that left at least 1 person dead. Video: Raw Video: Tear Gas Fired at Thai Protestors Troops deployed as one dead, hundreds hurt in Thai protests Publ.Date : Tue, 07 Oct 2008 16:12:03 GMT AIG's ex-CEOs blamed for crisis - CNNMoney.com
CNNMoney.com - House panel chairman says executives got undeserved riches, while ex-CEOs blame accounting rules and market conditions for leading to $85B bailout. Joe Cassano: The Man Who Brought Down AIG? AIG CEOs Blame Each Other, Accounting for Insurer's Downfall Publ.Date : Tue, 07 Oct 2008 19:11:18 GMT Sleuth's Presidential Debate Watch Game - Washington Post Washington Post - Tonight's debate watch games probably won't be as much fun as last week's Palin Bingo. But don't fret, there are still games to be played during this second presidential debate between John McCain and Barack Obama. 'Aggressive' debate expected between McCain, Obama * McCain looks for way to stop Obama's momentum Publ.Date : Tue, 07 Oct 2008 20:08:21 GMT Bernanke hints at possible interest rate cut - MarketWatch
MarketWatch - By Greg Robb, MarketWatch WASHINGTON (MarketWatch) - Federal Reserve Chairman Ben Bernanke opened the door on Tuesday for a possible interest rate cut to help rescue the economy from a severe downturn, admitting that the global panic in the financial ... Video: Bernanke signals possible rate cut Bernanke: Economic outlook weaker Publ.Date : Tue, 07 Oct 2008 20:18:10 GMT Cough, Cold Drugs Not for Kids Under 4 - WebMD
WebMD - By Miranda Hitti Oct. 7, 2008 -- Don't use over-the-counter pediatric cough and cold drugs in kids younger than 4. Leading makers of over-the-counter pediatric cough and cold drugs are putting that message on the products' labels, according to the ... Cold, Cough Medicines for Children Get Added Warnings (Update3) Drug Companies Say No Cold Meds for Kids Under 4 Publ.Date : Tue, 07 Oct 2008 18:48:20 GMT Earn Money At Home |
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