What is network marketing and how could it work for you? Janice Trussler of Utility Warehouse has a lot of experience in network marketing and gives an overview.
Network marketing is a proven marketing method employed by a growing number of major companies. It offers the opportunity to have your own business using the infrastructure and support of a large company, but without high set-up costs. The company supplies products and takes care of everything from insurances and licences to marketing materials and training, leaving you free to concentrate on building your business. It’s ideal if you’d love to work for yourself but have no idea where to begin or don’t have the capital to start from scratch.
There are some great opportunities to partner with successful companies for a small investment – usually under £200. The profession has evolved over the last 50 years and in many ways is similar to franchising, attracting people from every walk of life: highly-qualified professionals to students, young mums to pensioners; anyone who is prepared to invest a few hours a week.
Network marketing is flexible and fun, yet professional, but you’ll have to work hard and be teachable and self-motivated. Choose a quality company and your success is entirely down to your own efforts and determination. You can work part time to earn an additional few hundred pounds a month or develop your business into a lucrative new career.
Your company should provide first-class training, so although you control your own business, proven systems and support are in place to help you succeed. Your business could provide long-term income in time, securing your family’s future. So select your partner company wisely and be sure they have products or services that have wide appeal and that you’ll be happy to endorse.
Word-of-mouth recommendation is the best form of advertising and is the basis of network marketing. As a self-employed distributor or associate you’ll be promoting your company’s products, and can increase your income by introducing others and building a team. You don’t need sales or any other experience, just a willingness to learn and it helps if you like people!
Most distributors find their first customers amongst family, friends and neighbours. If you know about something that benefits people, you’ll naturally want to share it. You won’t have to go door-to-door –unless you want to – as there are many ways to build your business once you’ve exhausted your “warm market”. Your company should help with this.
Network marketing customers benefit from personal service and often products are cheaper or better quality than those in shops or are simply not available elsewhere. The company cuts out middle-men and has a team of enthusiastic business owners who love their products and enjoy recommending them, all without the headaches and expense of employing and motivating a workforce. Distributors are well-rewarded for their efforts, often earning free holidays, cars and bonuses, as well as residual commissions.
It’s worth understanding the value of residual income. Most people earn linear income, where you only get paid while you’re actually working. Here’s the test: if you stop working for a year, will your income go down? If so, you probably receive linear income. Residual income involves doing a job once and being paid over and over again – like royalties paid to authors and songwriters.
Network marketing companies usually have consumable products or services, so customers buy frequently, often through automatic re-orders. You’ll get commission on each order and will also receive monthly over-rides or bonuses based on the sales of your team. So you develop walk-away or “lie-on-the-beach” money, repeatedly earning from work done in the past. It’s great to have an income every month before you even get out of bed!
As well as additional income, most distributors enjoy the personal development element of network marketing and the opportunity to learn new skills. Success is recognised and rewarded and there are always opportunities to associate with positive people who love what they do and are happy to help each other.
Like any business, training and hard work come before rewards, so expect a good income to take time to develop. If you introduce quality customers and work with your distributors, helping to increase company turnover and profits, then you can earn substantial income, even part-time. You’ll also have a lot of fun and make many new friends.
Additional information about network marketing can be found at www.discover-network-marketing.co.uk
*Janice Trussler is a network marketer with Utility Warehouse.