What are your thoughts on Network Marketing?
Most people can't start their own business or franchise the traditional style; that's why I find network marketing so facinating! NWM gives everyone the opportunity, regardeless of age, gender, social status and education, the opportunity to have a successful business, as long as we have a desire to learn and don't go at it with a lottery mentality.
Have you had any involvement with network marketing? What are your thoughts on it? Good, bad, neutral....
Tags: business, marketing, network
Views: 0
Replies to This Discussion
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Permalink Reply by Don (Coach) Cox on
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Excellent points Mirdza! I've been an advocate of the NWM industry since 1975, so my thoughts/input may be biased? lol
Maybe, I should sit this one out ...for the moment anyway. For now, know that there's at least one person here who's on board with you.
btw, I'm not sure how I was invited to this site/forum, but it's nice to be here. Thanks for the welcome. Hopefully, I'll be able to offer something positive. I'm a Connector, and an Encourager. If I've nothing positive to say, my lips will remain zipped...(I pray)
Also, if anyone is offended, or threatened by my presence here, I shall depart. Truly. Thanks again.
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Permalink Reply by Mirdza Hayden on -
I'd love to hear your thoughts, Don! It's great to know someone who has been in the NWM industry for so many years. Seems you were definitley ahead of your time in your mentality, making you a very wise person. I'd love to hear what has made you so successful in this industry, and what you found most facinating and beneficial when you first started out building your business NWMing style. =)
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I appreciate the invitation to share more Mirdza. Thank you. I still hesitate, as I happen to be on 'Mommy Incorporated' here. This is your site, and I'm sure I'll enjoy hanging out with entrepreneurial women occasionally, well, maybe more than occasionally...lol
However, I'm actually quite interested in other responses to your opening thoughts. Don't forget, I'm an advocate of the industry, and I assure you there are many super reasons why NWM is so perfect for ladies! Number One....You love to share ...everything! LOL This is the base/foundation of why 'relationship' marketing is such a fabulous vehicle.
I encourage everyone to diligently/patiently research any Company they might be looking at. One of the reasons the industry has taken it's share of negative publicity, is because of turnover. Folks aren't 'failing' as much as they are simply changing Companies. Patience is a virtue. Take your time. It's too easy to get excited about the potential a Company offers. Excitement wanes after 72 hours ...on average. If you're looking for an opportunity, be patient.
Geez, I wrote a dadgum book here. Sorry. Carry on.
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Permalink Reply by Mirdza Hayden on
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Yes, it's important to diligently research the company we are interested in because all too often people sign up just because of the excitement of the whole thing. When the excitement wears out, that's it.... they are gone. Patience is definitley a must as we grow our business, finding team members we can enjoy working with and that are excited about the business opportunity and the products.
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Permalink Reply by Rick McGarry on -
In my experience, it is no easier to succeed in Network Marketing than in traditional businesses. Desire to learn does not seem to be as important as the right personality and social connections. Products marketed in this way inevitably seem to be products that cannot compete in traditional venues. If by a lottery mentality you mean that your chances of succeeding are about as good as your chances of winning the lottery, I think you are right.
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It's certainly not any easier Rick. The biggest difference is 'start-up' cost. Most 'traditional' businesses will take more capital to come out of the gate. You can start your NWM biz for anywhere from 40.00 to upwards of 1,500.00. Just because you spend the most, doesn't mean you're guaranteed any success.
Obviously, personality and social connections will make a difference regardless of which vehicle you ride. When you say 'traditional' venues, I wonder if you would consider 'any' type of sales traditional? I'd say so. Sales/barter/trade has been around since the very beginning. Either you put your product/service on the proverbial shelf, and pray that 'advertising' brings the customer, or you get the word out with 'customers' telling friends, neighbors, relatives, partners, etc., etc. Marketing is marketing is marketing. I like the idea of a Company paying me to tell others about their product/service vs. paying ABC, Fox, NBC, or NYT for advertising it. Thanks for the reply.
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Permalink Reply by Mirdza Hayden on
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What I mean by "lottery mentality" is actually that you think you will simply get rich quick, like by winning a lottery ticket. This is not the case in network marketing. As Don mentioned, it's definitley not EASIER to build a network marketing business, but the start up cost and the monthly investment in building our business is definitley a lot less than in traditional businesses.
Consider this.... You can spend a lot of money in a traditional store that offers the products that you want to sell, but then you will need to make sure you are open during the business hours you decide you are going to work. Plus, you need to pay the rent for the building (unless you own it) and you need to pay for utilities. You also have to order everything you want and keep it in stock, not knowing which products will be best-sellers, at least not for quite a while. You also need to market your store because people aren't going to automatically start going to it just because you are open for business, so you need to find a good way to advertise, and mostly only local people will come to your store. Whereas if you have an online business, your online store can be open 24/7 and people can purchase from it even at midnight, while you are asleep. Your marketplace can be all across the U.S, or as far as all around the world in some cases. You do not need to worry about paying for the rent of an establisment, and part of your household utilities are now part of a tax write-off since your office is in your home. You also don't need to worry about shipping out any packages to anyone because headquarters is in charge of that. They recieve the orders placed in your online store, and they ship them out promptly to your customer.
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Permalink Reply by Ginny Johnson on -
NWM, I like calling it Direct Sales, as does many of the legit businesses. For years it had a very negative tone. This was due to the attitude of companies encouraging sponsoring but forgetting the sales of the business product to consumers. Instead, they encouraged each new member to fill their garage with a product that would need to be sold to recoup their investment.
Good products (and preferably, consumable) connected with good commissions, great company training and fantastic people only can create a fantastic business.
I encourage people to do their homework before joining any home business, if you do not know the products (by using them yourself) they will be hard to sell and you will not make the money you anticipate. Be sure the company has good financial backing, brand new companies come and go all the time, sturdy businesses are still the best investment of your time and your money.
Good luck to anyone on the search for the right company.
Ginny
Homemade Gourmet Sr. Team Leader
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Permalink Reply by Jessica Thibodeaux on -
I like the fact that people with social awkwardness and or disablilities are also able to make a living and in some cases a better living than they would have in the traditional workforce. I use network marketing with my business just getting the word out sort of thing but its true that anyone at any age can do it.
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Permalink Reply by Ginny Johnson on
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Absolutely, age, gender, disability or economic status means nothing, all you need is the desire to work hard but also work smarter!
Ginny
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Permalink Reply by Mirdza Hayden on
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Absolutely, Jessica! As long as they have the mental capacity and the desire to be successful, and learn more and more each day, people with social awkwardness, or physical disabilities can definitley be successful building a business network marketing style. As Ginny mentioned, we simply need a desire to work hard and smarter.
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Permalink Reply by LaKeisha Hankins on
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Great discussion. I absoulutely love network marketing. I dibbled and dabbled in the last few years and I have been consistenlty working it and growing my business the last year. I have learned so much from my mistakes such as jumping in because of the excitement and ended up not going anywhere with the business because I had no idea of how to effectively market my business. This last time around I did my research I made sure it was a product that I was passionate about that I would use myself and it is also consumable, so I have repeat business. Also I learned the compensation plan frontward and backwards to make sure I knew exactly how to move up and wants I started treating it like a business and not a hobby as many say the past was history....I agree that is is not easy and some people just really have a talent for it and are very successful but each individual has to find thier strategy and know what will work for them.
So to sum it up I have had some good and bad experiences but I know it is possible to succeed in this industry.
Mirdza Hayden said:What I mean by "lottery mentality" is actually that you think you will simply get rich quick, like by winning a lottery ticket. This is not the case in network marketing. As Don mentioned, it's definitley not EASIER to build a network marketing business, but the start up cost and the monthly investment in building our business is definitley a lot less than in traditional businesses.
Consider this.... You can spend a lot of money in a traditional store that offers the products that you want to sell, but then you will need to make sure you are open during the business hours you decide you are going to work. Plus, you need to pay the rent for the building (unless you own it) and you need to pay for utilities. You also have to order everything you want and keep it in stock, not knowing which products will be best-sellers, at least not for quite a while. You also need to market your store because people aren't going to automatically start going to it just because you are open for business, so you need to find a good way to advertise, and mostly only local people will come to your store. Whereas if you have an online business, your online store can be open 24/7 and people can purchase from it even at midnight, while you are asleep. Your marketplace can be all across the U.S, or as far as all around the world in some cases. You do not need to worry about paying for the rent of an establisment, and part of your household utilities are now part of a tax write-off since your office is in your home. You also don't need to worry about shipping out any packages to anyone because headquarters is in charge of that. They recieve the orders placed in your online store, and they ship them out promptly to your customer.
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