The Three Primary Strengths Of Network Marketing
Network Marketing, 'MLM', and Multi Level Marketing are all terms that refer to the same type of business model. This industry has had more than it's share of scumbag crooks and con artists that have used and abused the concept. However, if you do your homework and get involved with a legitimate network marketing organization, this business model has exceptional income potential.
Network Marketing can produce outstanding results if you know a few simple concepts, the understanding of which is critical to your success.
Network Marketing, MLM, and Multilevel Marketing are unlike franchises or conventional businesses in that they take advantage of all three of the important, yet misunderstood principles of:
1) Leverage (of Time and Money)
2) Residual Income
3) Geometric Growth Through Duplication
Unfortunately these principles are not well understood by many of the people that undertake network marketing. And that's just one of many reasons why so many fail at network marketing. There are lots of other reasons, and it would take volumes to cover them all. But this is one of the more common ones. Because if you don't comprehend and believe in these principles, it's impossible to help others fully understand and appreciate them.
First, lets look at LEVERAGE:
Every successful person or business takes advantage of leverage. There are only 24 hours in a day and no matter how talented you are or how much you get paid per hour, if you don't take advantage of leverage you're limited by the number of hours in a day. As a side note, I have heard of cases where an occasional lawyer was billing more than 24 hours per day...but, I guess that's another story. By learning to leverage your time, you can also benefit from a percentage of other people's efforts, and dramatically increase your income while creating more free time for yourself.
The unique and wonderful thing about the Network Marketing business model is that everyone has the same opportunity to become the 'owner' of his or her own business - with a fraction of the investment of time and money of a franchise or traditional business.
In network marketing the people at the top definitely have a vested interest in helping others on their team succeed.
Would you rather receive 100% of one person's efforts, or 5% of the efforts of 100 people?
Obviously 100% of one is always only ONE. But 5% of 100 is FIVE.
Not only will the total result with leverage almost always be amplified, but your income is not dependent on only one person. If your income is produced by the activities of many, it is much more dependable. Even if something unexpected or negative happens to one or more of those people, it only has a minor effect on the TOTAL production.
It's great to get paid while you're sleeping or away on vacation. That's one of the many advantages of leveraging your time.
Now, lets consider RESIDUAL INCOME:
When someone mentions residual income many people automatically think of actors or musicians.
Residual income is recurring income that you continue to receive long after the work you've done to produce it has ended. There are lots of ways to produce residual income. However, many people don't understand it, and still others have never thought about or been exposed to it.
A very simple example of residual income is interest earned on money in the bank or investments. You continue to receive this income without having to invest any more time to produce it.
Suppose you had the choice of doing a job and earning $1,000 once, or getting paid $50/month for the rest of your life...which would you choose? If you chose the $50/month you obviously "get" the concept of residual income.
Clearly, $50/month will surpass a single payment of $1,000 relatively quickly. And if it lasts for a few years, or better yet - the rest of your life - it will really be a blessing.
Residual income is certainly not about "getting rich quickly", even though with the right opportunity it's possible to produce a substantial residual income stream in a relatively short time.
Most people who fail at network marketing either choose the wrong network organization or just give up too soon and quit because they expect overnight results. It is important to recognize that the real beauty of residual income is on the back end, not the front, and that once you build it you have the financial security and time flexibility to do just about anything you desire for the rest of your life!
Last, but not least, lets address GEOMETRIC GROWTH (DUPLICATION):
The 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.
That's a simple and dramatic illustration of how networking can work. If I can teach you, I've doubled myself. If we each teach someone else, we've doubled again. As this duplication or geometric growth process goes on and on, it can produce some amazing results in a relatively short period of time, just like the penny example above.
So there you have it, understand and apply these three principles:
1) Leverage (of Time and Money)
2) Residual Income
3) Geometric Growth Through Duplication
and, given sufficient time and effort, you should enjoy a successful and financially rewarding network marketing experience.
Kirk Bannerman operates his own successful home based business and also coaches others seeking to start their own home based business. For more information visit his website at
 Google News Updated : Tue, 07 Oct 2008 20:50:00 GMT Kenya deports anti-Obama author - Christian Science Monitor
Christian Science Monitor - Jerome Corsi, author of "Obama Nation: Leftist Politics and the Cult of Personality," tried to launch his new book, but violated immigration rules, Kenyan officials say. Barack Obama's African grandmother Sarah Onyango Obama roots for him Anti-Barack Obama author detained while promoting his book in Kenya Publ.Date : Tue, 07 Oct 2008 16:09:55 GMT Study: Using fan on sleeping baby reduces risk of SIDS - San Jose Mercury News
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New York Times - By Fernanda Santos The Working Families Party began on Tuesday the labor community’s first major offensive against Mayor Michael R. Bloomberg’s plan to change term limit laws through legislation that would extend to three, from two, the number of terms ... UPDATE 1-NYC lawmakers to weigh bill raising term limits Bill to end term limits introduced in City Council Publ.Date : Tue, 07 Oct 2008 19:15:23 GMT Get moving: Guidelines set healthy activity levels - The Associated Press
The Associated Press - WASHINGTON (AP) - Get moving: New exercise guidelines released Tuesday set a minimum sweat allotment for good health. For most adults, that's 2 1/2 hours a week. Government tells Americans to take stairs, go out and play Get 2 1/2 hours of exercise per week, US says Publ.Date : Tue, 07 Oct 2008 20:11:51 GMT Fed Announces Plan to Buy Short-Term Debt - New York Times
New York Times - By EDMUND L. ANDREWS and MICHAEL M. GRYNBAUM WASHINGTON - The Federal Reserve announced a radical new plan on Tuesday to jump-start the engine of the financial system. Fed makes boldest move yet Federal Reserve to buy up short-term commercial debt Publ.Date : Tue, 07 Oct 2008 19:51:44 GMT Axelrod Says Obama Will Counterpunch if McCain Raises Ayres - New York Times New York Times - By Patrick Healy NASHVILLE - Senator Barack Obama is prepared to hit back, including with Keating Five scandal if necessary, if Senator John McCain uses tonight’s presidential debate to attack him over his associations with controversial figures like ... Video: AP Campaign Minute Palin Adds Fannie Mae Execs to List of Objectionable Obama Associates Publ.Date : Tue, 07 Oct 2008 18:32:14 GMT Fitch says AMD factory move has no ratings impact - Forbes
Forbes - AP 10.07.08, 3:48 PM ET Fitch Ratings said Tuesday Advanced Micro Devices Inc.'s ratings are not affected by the chip maker's plans to spin off factories into a new joint venture with investors in the Persian Gulf state of Abu Dhabi. What AMD's fab spinoff means for Intel, industry Who Benefits From AMD’s Financial Engineering? Publ.Date : Tue, 07 Oct 2008 19:58:11 GMT RSS to HTML |
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