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?
- A good alternate source of income – you can grow your income as high as you deserve.
- A good platform to develop important business skills like persuasion, team building, networking, marketing operations, etc.
- Low startup capital – most network marketing business requires very low capital.
- 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.
- Time freedom – this is great because you determine when you work and when you want to take your rest.
- 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.
- What is the origin of the company? Who are the founders and what
is their motivation for starting it among other things?
- What products or services are they selling? Do they resonate with
what you can sell or share?
- 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.
- 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.
- 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.
- Product knowledge and function
- Compensation Plan
- Registration Procedure for New members
- Matrix movement and understanding
- How to request for your benefits
You need
- A laptop or a phone that can successfully do the registration
- You need connection to the internet
- Power supply to power your phone and laptop
- 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
To join this MLM Coaching Programme, call or whatsapp 08060779290
08105636015, 08076359735
Serial Entrepreneur - International Business Planning and Development Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2020 Doctor of Business Administration (DBA) in View.
- 2020 SMEDAN Certified Business Development Service Provider in Conjunction with EDC, PAU.
- 2020 Alumni, Special Executive Master's Programe (SEMP) in Business Administration, Metropolitan School of Business and Management, United Kingdom UK (MSBM).
- 2020 Mentor, Teach For Nigeria
- 2018-2019 SME Business Trainer and Coaching Advisor at GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) GERMAN CORPORATION for SME Loop.
- 2018 Executive Director/ Project Manager, Dayo Adetiloye Empowerment and Development Initiative
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2016 CEO, Dayo Adetiloye Business Hub
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
- 2013 Masters Of Business Administration (MBA) OAU, Ile Ife.
- 2010 B Agriculture (Soil Science) OAU, Ile Ife.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). And Obafemi Awolowo University (OAU) Ile-Ife, Nigeria.
Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
- Consulted for more than 5000 MSMEs in the last 8 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.
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