FACT: Old School Network Marketing Is Officially Dead
FACT: Old School Network Marketing Is Officially Dead
Ok, now I know that this title might ruffle a few feathers and some people are going to pick out a few examples of people who are making millions the old school way. Sure there are a small MINORITY who are earning massive residual cheques every month, but these people have been in the game for a long time and have worked hard to get where they are now.
That fact is that unless you are prepared to be a serious go-getter and pitch your business to THOUSANDS to people you stand no chance of making it using these outdated methods. The idea of pitching my business to my friends and family was repulsive to me, let alone having to pick out random phone numbers from a phone book to call.
The most common MISTAKES that I see in people who are looking to make money from direct sales or network marketing are the following:
Joining a company which has tangible products (physical products that you can touch) which can be easily copied by anybody.
Thinking that you can survive in a network marketing business on residual income alone
Not using an internet marketing system to generate automated and targeted leads.
Let's just take a closer look at these common mistakes.
1.The direct sales industry is already full of company's selling tangible products such as lotions & potions, pills & vitamins, juices, energy drinks, cosmetics, diet products etc and competition is fierce. There could quite easily be 1,000 unique businesses world wide selling lotions and potions in the direct sales industry, and obviously this means that that particular market is saturated and therefore there is no money to be made.
And the ones that are not saturated yet are sure to be saturated eventually as new companies pop up everywhere trying to generate profits. The smart people are selling intangible high quality information products which can not be easily copied and provide value to people that are seeking that information. Don't forget we are living in the information age, so it makes sense to ride the wave of the future.
2.Most people do not realise that 99% of network marketing company's compensation plans are strategically designed to pay a lot of people a little bit of money. The facts are that the vast majority of people in network marketing are making no more than $20 a month, which is definitely not life changing.
To build up a substantial residual income the old school way, you will need to build a massive downline with hundreds, if not thousands of people. Let's be honest here, 99% of people do not have the skills or the motivation to build an organisation of that size. It is just not realistic, is it?
It is absolutely vital that you are financially rewarded for your efforts early on, or else you will throw in the towel before you get to see what residual income looks like. Unless your company's compensation plan has both a true direct sales element, and a residual income element attached to it you are wasting your time.
The ultimate compensation plan will reward you handsomely immediately when you make a sale, and it will ALSO pay you residual income. This is referred to as a "Dual Income Compensation Structure". This structure pays both for your own efforts immediately, and also the efforts of your downline. The best way to summarize this is to say that "Long Term Residual Income" has been replaced by "Immediate Leveraged Income".
3.The old school way to build a network marketing business consisted of writing a long list of every single person that you knew and then inviting them to a home party for a "business presentation". This may have worked for some, but for 95% of people it just ended in humiliation and embarrassment. I know it did for me.
These days the smart networkers are using a world class internet marketing system that produces automated and targeted leads on a daily basis. Not only does this method open up a global market place for people, but it also saves a lot of time, effort, and embarrassment. By taking advantage of clever sales funnels and automation, the new age marketer produces a warm list of leads that they can contact anywhere in the world to prospect to.
By using this internet marketing system people are creating far better results, with much less effort which can be best summed up in one word LEVERAGE. By leveraging their time and letting their online businesses run for them 24 hours a day and 7 days a week the business owner has a lot of time freed up for other activities.
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