Building a successful network marketing business
Network marketing is a field that is highly misunderstood. it can be lucrative if one is willing to invest in acquiring the necessary skills and to put in the hard work. Unfortunately, many people who join the industry give up and quit prematurely.
Network marketing allows one to partner with a company that markets either goods or services, as an independent representative. A major advantage with network marketing is that one does not get paid on their individual efforts alone since the biggest chunk of one’s income comes from people one introduces to a client.
Why do some people succeed in network marketing while others have nothing but horror stories to tell about it? What is the difference between the successful people in this industry and everyone else? Are those who succeed the people who joined the company first? Do they have an advantage of time?
The missing link
Network marketing is a profession like any other, so one needs to acquire a wide range of skills. To succeed in the industry, one needs to master skills such as personal branding, marketing and sales, training, coaching and mentoring teams. The more people one introduces into the business succeed, the more one earns in commissions. It is important to acquire the skills and to also pass them to their team members.
This is an industry that found its way into Kenya from other countries. No institution offers training in the field locally. Many people who venture into this business have no proper training to equip them with the necessary skills.
Roadmap to success
The first step in building a successful network marketing career is investing in skills. There are resources that have been developed to provide a comprehensive curriculum for people in the industry such as Go Pro by Eric Worre, which covers the seven critical skills for success in network marketing.
Acquiring skills and becoming a professional in any line of work takes time, on average three to five years working around eight hours a day, or the magical 10,000 hours.
Get the picture right while joining. Where are you currently; in terms of income, skills, self-confidence and networks? What are your strengths and weakness? Are you suited for this work?
Not everyone joins at the same level or gets equal support, so don’t compare your journey with anyone else’s.
Set long term goals. What do you want to achieve and what period of time are you working with?
A misrepresented industry
Network marketing is a business; it is NOT a shortcut to riches. If it was easy, everyone would be doing it, and everyone would be rich! When you start a traditional business, you expect to work at least six months to a year before you break even, sometimes even longer.
Network marketing is no different. Because of lack of structure in the industry, some claim that it is a scam after groping in the dark for months or years with no roadmap.
The fact that it is promoted wrongly does not help things either, with some expecting to become millionaires in a few months yet people who become millionaires take years to get there. There are skills to be learned and work to be done. There are running costs. It takes time and effort to become successful.
If you work hard and are consistent, you can have a comfortable income in three to five years, just like in any other field. If you keep doing what needs to be done and you don’t quit, you can be rich in 15, 20 or even 30 years.
Network marketing is a viable business but lack of a structure in the industry is a big challenge. It is a business, so it takes time to build. It also requires skills and expertise, which take time to acquire.
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