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Network Marketing, Starting out.

Dayo Adetiloye Business Hub

Network Marketing, Starting out.

WHAT IS NETWORK MARKETING?

It is a business model that helps companies to use a structured word-of mouth to market their business products and services.

This model allows you to continue to enjoy your referral effort over

generations of people you introduce the business to.

A lot of companies and multinationals are now using a structure

referring system and network marketing to promote their products and

services.

 

WHAT ARE THE ADVANTAGES OF NETWORK MARKETING?

  1. A good alternate source of income – you can grow your income as high as you deserve.
  1. A good platform to develop important business skills like persuasion, team building, networking, marketing operations, etc.
  1. Low startup capital – most network marketing business requires very low capital.
  1. Low overhead – you don’t have to rent a shop or pay staff salary. You only work as a team with people you refer to the business.
  1. Time freedom – this is great because you determine when you work and when you want to take your rest.
  1. No special degrees – you don’t have to go to school before you can do

this business.

 

HOW TO CHOOSE A NETWORK MARKETING COMPANY?

This is important because many people just don’t know what to do or

where to start in this industry. It has been discovered over time that

people join people not company i.e. it is not because a company is the

best, people join because a trusted fellow introduce it to them.

When you want to join any network marketing, watch out for the

following.

  1. What is the origin of the company? Who are the founders and what

is their motivation for starting it among other things?

  1. What products or services are they selling? Do they resonate with

what you can sell or share?

  1. Do they have good distribution network and support system like

video trainings, seminar venues, website or blog, etc. that can help

you learn more and ease your means of marketing.

  1. What is their compensation plan? Is it worth the time? For instance,

I recently joined a company and their startup capital was N1000 – ($3).

Later I had to stop because their compensation plan doesn’t worth it.

  1. What are the success stories? Has anyone earned or received any of

the compensation before from the company? If it’s a new company,

what is the general disposition of the company to help people get to

the top fast?

All this will guide you on the company to join and how to know which

company is good.

 

HOW TO CHOOSE A TEAM TO JOIN

1) Don’t just join anybody because he or she is the first person to

introduce it to you. In most cases in the network marketing

business I have done, I choose my upline and the team to join

deliberately.

Secret No 1: the team you join will contribute 50% to the speed of

getting to the top in your network market.

 

What are the things to watch out for in selecting a team or in choosing your upline?

1.Does this person introducing me have characteristic of leadership that can take me to the promised land or does he or she belong to a team with strong leadership and team work?

2. What is the team recruiting strategy?

3. Do they have a fast track system that helps them get people easily?

4. Do they have an online or offline platform that can be used for training and motivation?

5. How much knowledge does this prospective upline have? If you are not

satisfied with the response the person is giving you, request that the person introduce you to his/her upline or the most knowledgeable about the business in the team.

 

Understanding Network Marketing Operations

 

Operation: This can be broken down further into four.

  1. Product knowledge and function
  2. Compensation Plan
  3. Registration Procedure for New members
  4. Matrix movement and understanding
  5. How to request for your benefits

 

You need

  1. A laptop or a phone that can successfully do the registration
  2. You need connection to the internet
  3. Power supply to power your phone and laptop
  4. A book to record your chats and matrix to monitor your downlines.

 

Network Marketing is extremely human relation-based business. People want to know how much you care before they care about your business.

Product knowledge and functions:

As a leader, you must know your products and services in and out. If I wake you up from sleep, you must be able to teach me the A to Z of how to join a reputable team with high chance of recruitment success. What I am saying is that you choose to be an asset not a liability. This same approach is

what you must apply to those who want to join your team. You must ensure that they are not just waiting to join under you and ask you to begin to put people under them. If someone ever say that to me, I will not accept them to join my team. I will reject you and your money and refer you to another team.

Compensation Plan:

You will need an experience member of your team  to take you through the working knowledge of your company compensation plan, so that you can teach your team members when you start building.

Watch out for Module 2: Building Network Marketing Skills

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Dayo Adetiloye Business Hub
Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
Dayo Adetiloye Business Hub
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