Wikipedia definition: network marketing is a way of doing business in which a sales force earns a commission not only for sales of products and services they personally generate, but also for the sales of others they recruit and bring into the business, which creates a downline of distributors and a hierarchy of multiple leveraged levels of compensation.
The definition is pretty simple. Each individual produces revenue on the sales of goods or services. Recruiting additional people to sell the goods or services also produces revenue. You get paid not only on what you sell, but what recruits sell as well. This results in a network of 2 or more people engaged in selling the same goods or services. So, you are engaging in network marketing.
Almost all compensation plans in the network marketing industry are hierarchical in nature. Those at the top make the most and those at the bottom make the least. Many of the plans are so complex that the average person has a really difficult time understanding them. Others are simple and straight forward. In either case, it is necessary for you to understand how you will be paid.
Before joining a network marketing company you must do your due diligence regarding the compensation plan. Many companies require you to buy a certain level of goods or services each month to remain a member. You need to be able to determine how much money you'll have to spend before you start receiving income. Otherwise, you could find yourself invested so far that you can't continue the business. There are many people who experience this situation every year.
Many people who sign on with network marketing companies have no clue what skills they will need to become successful. They have no sales or marketing experience and have no clue as to how to get started. They rely totally on their company to provide the training necessary for them to become successful. Unfortunately, most don't provide training in these basic skills and it becomes exceedingly frustrating for the new recruit to understand what he needs to do to succeed.
Therefore, if you are contemplating joining a network marketing company, you should do your due diligence regarding the training necessary to succeed as well as the financial due diligence. Failure to succeed in training can be just as devastating as financial failure.
No other industry has created the great wealth that network marketing has created. It provides great flexibility, generates great camaraderie, builds self esteem and generates great psychological income from helping others succeed. It is also highly profitable.
Dedication and perseverance are required to build a successful network marketing company. "Get rich quick schemes" are short lived. It is possible to build a successful network marketing business and to enjoy the great rewards possible.
Should you decide to get involved with network marketing, I wish you the best.
Best regards,
Doug
The definition is pretty simple. Each individual produces revenue on the sales of goods or services. Recruiting additional people to sell the goods or services also produces revenue. You get paid not only on what you sell, but what recruits sell as well. This results in a network of 2 or more people engaged in selling the same goods or services. So, you are engaging in network marketing.
Almost all compensation plans in the network marketing industry are hierarchical in nature. Those at the top make the most and those at the bottom make the least. Many of the plans are so complex that the average person has a really difficult time understanding them. Others are simple and straight forward. In either case, it is necessary for you to understand how you will be paid.
Before joining a network marketing company you must do your due diligence regarding the compensation plan. Many companies require you to buy a certain level of goods or services each month to remain a member. You need to be able to determine how much money you'll have to spend before you start receiving income. Otherwise, you could find yourself invested so far that you can't continue the business. There are many people who experience this situation every year.
Many people who sign on with network marketing companies have no clue what skills they will need to become successful. They have no sales or marketing experience and have no clue as to how to get started. They rely totally on their company to provide the training necessary for them to become successful. Unfortunately, most don't provide training in these basic skills and it becomes exceedingly frustrating for the new recruit to understand what he needs to do to succeed.
Therefore, if you are contemplating joining a network marketing company, you should do your due diligence regarding the training necessary to succeed as well as the financial due diligence. Failure to succeed in training can be just as devastating as financial failure.
No other industry has created the great wealth that network marketing has created. It provides great flexibility, generates great camaraderie, builds self esteem and generates great psychological income from helping others succeed. It is also highly profitable.
Dedication and perseverance are required to build a successful network marketing company. "Get rich quick schemes" are short lived. It is possible to build a successful network marketing business and to enjoy the great rewards possible.
Should you decide to get involved with network marketing, I wish you the best.
Best regards,
Doug
About the Author:
Want to find out more about network marketing, then visit Douglas Blackley's site on how to choose the best internet marketing for your needs.
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