February 3, 2023

Money News PH

The Premier Blog Where Money Talks

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Moneynewsph | Lessons Learnt from Network Marketing | Generally, the business sector has really grown with several of its sectors growing into some of the most popular profits earners today. Among them is network marketing. This is one of the main business sectors today with its high returns and conducive working conditions. Just like any other business, there are skills that are required for one to prosper in network marketing. Sadly, not many have them. However, there are still some that have succeed in network marketing and care now reaping the fruits of their labor. There are some basic lessons that we can learn from such individuals. 

The first lesson is the mare fact that each and every business is based on relationships. This was also stated by the renowned founding editor of ‘The New York Times’. No matter the quality of products or services one offers, he or she cannot sell without having good relationships. In fact, there are some that offer inferior products but are still able to sell some of them simply due to the good relationship he has with the clients. Network marketing is sort of like a belly to belly kind of business especially when it comes to the selling of products. Therefore, it is based on good client-entrepreneur relationships and so are other businesses.

In ‘Social Capital in the Creation of Financial Capital’, a book written by Shaul Gabbay, it is said that all of the successful network marketers fast tapped clients from the untouched markets then worked to extend and intensify their markets. This also applies to other kinds of businesses. Most of us think that once we open up our businesses, the first thing to do is to penetrate the large markets and compete with the giants for better returns. This is just but a misconception. The best thing to do is to first penetrate the raw markets then spread your roots to the main stream markets once you are fully established. 

Finally, most networks marketers tend to approach every Tom, Dick and Harry they meet in the streets for marketing purposes. Some might say that this is the only way of getting prospects but the truth of the matter is that this is just but a waste of time. Also known as the ‘three-foot rule’, this criterion will only waste your money, resources plus time. Most of those that have succeeded in business looked for prospects in areas that were linked with the business and not everywhere. In short, not everyone is a prospect. Be choosy!