Network Marketing. 8 Things I Wish I Knew Before Spending My Savings

If you’re thinking about joining a network or internet marketing group or starting a home based business and it’s your first time you MUST read this. If you’re already involved in network marketing or internet marketing or you’ve just started your home based business and you’re struggling then this article will help you too.

1> HAVE A BIG DREAM BUT DON’T BE BLINDED BY LACK OF KNOWLEDGE.

When I first answered the ad. in my local newspaper I just couldn’t believe it. Make money on-line. WOW. An Internet based business that would allow me to earn thousands of dollars per month and in only a few hours each week. Well really don’t be naive. I had a big plan and I still do .I was sick of tired of my old job. I’d been doing it for 14 years. It was bringing me down. The long hours and the night shifts and weekend work were getting in the way of my social life and I was really starting to resent it. I was looking for alternatives and this seemed to be the answer.

Work the hours I chose. When and where I want. It just sounded like a dream come true. Of course I was told it’s not a get rich quick scheme and you will have to work really hard. Well it sounded great. I knew how to work really hard so I thought I could do it. How hard could it be?

2> MOTIVATION
What’s your motivation for wanting to stop what you’re doing now to get involved in network marketeering? Are you a highly motivated individual? Do you need a bit of a push to get going? I thought I had a great motivation. I was 45 years old with a small superannuation saved. I was starting to think about the future and old age for the first time in my life. I realized that even if I worked every day for the next 15years I still wouldn’t have much to retire on. Also I was getting older, more jaded, less flexible and reaching a point of professional burn out. I was feeling like I just couldn’t keep doing what I’d been doing for the last 15 years. Something had to change. Network marketing held a carrot in front of my nose. I thought “Wow” if I worked hard at this network marketing for 12 months I’ll be rich and never have to work another day in my life. I wanted the residual income they spoke about. I wanted the flexible hours. I wanted to work from home. I wanted it all and I wanted it now.

I thought I had a strong motivation but in the end I wasn’t willing to do “whatever it takes” to achieve my financial freedom. So how about you? What’s your motivation? Is your motivation SO STRONG that there is nothing you wouldn’t do to achieve your own desired gains?

3> TAKE IT SLOWLY
If you’ve never heard of the terms “Cold Sell” or “Center of Influence” and you don’t know what “Network Marketing” is you REALLY need to take it slowly. I’ve got a lot of education under my belt but believe it or not I really didn’t understand these terms before I joined my first network marketing group. Network marketing is a fantastic way to get your very own business up and running with minimal costs and to create a residual income in the future. Some are better than others. Don’t be in a rush to make a decision about joining a particular network-marketing group.

The opportunity will be there for you tomorrow and the day after that. If it isn’t or they say you must join now or the opportunity will be lost then maybe the group isn’t planning to be around in the long term. That’s not the kind of group you want to join. Take it slowly. If people are trying to rush you into signing the dotted line then you must stop and think again. If you don’t stop to think when you feel you’re being pushed then there WILL come a time when you will have to stop and think. Best to do your thinking BEFORE you commit your money. Try to find out as much as you can about the group. Who are they? How long have they been around? Can you attend one of their training meetings before you join? What do they sell and how do they go about it?

4> UNDERSTAND THE PRODUCT.
I would advise you to learn as much as you can about the product you’ll be promoting BEFORE you try to start to sell it. Understand the product and understand how you are going to go about selling it before committing your money. What would you be selling if you joined this group? Some people would say it doesn’t matter what you’re selling so long as the compensation plan is a great one. Well, I see their viewpoint but if you’re at all like me you’ll want to put your heart and soul into something you believe in. What’s the point in having a fantastic goal of financial freedom if you have to sell your soul to get there?

Maybe your passion is organic cosmetics; maybe it’s educational or personal development products. The range available is huge. Really have a good look at what’s available and what you feel will excite you.
How will you be selling the products? Is it door-to-door sales? Do they organize a website(s) for you? How much will it cost you to keep these websites active? How are you going to finance this? What other costs are there? Remember costs can be money but it can be other things e.g. time.

5> THINK SERIOUSLY ABOUT TIME
Are you going to have enough time to dedicate to this venture? Perhaps you have 2 hours in the evening after a full day at work. Is 2 hours truly enough time to get the business up and running in the early stages? It maybe fine once everything is running like clockwork and you’re 2 years down the track but how will it be to begin with.

When are these 2 hours? Are they just before bed? If they are then how do expect to use them profitably? What about the weekends? Are you ready to give up your social activities on the weekends to make up for having no time available during the week? Many people start their network marketeering business on a part time basis and still hold onto their day jobs. When I started out I was advised to continue working my usually hours and do my new business part time around everything else. I thought this would be possible because everyone else could do it. I’m pretty fabulous so surely I can do it too. It soon became apparent to me that I couldn’t. If I were to grow my new business I would have to stop the old business. I’ve heard stories of stay at home mums fitting their new network marketing business around their families very successfully. In fact having more time with their families because previously they had to go out and earn money and now they can “stay at home” to earn it.

I’ve also heard of some that just could not do it and ended up putting their children into day care just so they could do their home based business in peace!

My advice here is to really look at what you currently do. Do you have a partner who will support you financially while you’re getting your new business up and running (and this might take 18 months)? Perhaps you just lost your job or you didn’t have a job to begin with. Perhaps you’re a stay at home mum or dad and you’ve got a bit of time to spare in the day. If you do AND you’ve got yourself educated on the group you’ll be joining and the product you’ll be promoting and how you’ll be promoting it and you didn’t have to borrow money to get started then GO FOR IT! If you’re already working a 12-14 hours a day and some weekends as well as nights or alternating shifts then you really need to think carefully about how it’s all going to fit in. If it’s all on the Internet that’s great. BUT if you have to “walk the walk” and “talk the talk” and you’re a shy person or stressed out for whatever reason then you will most likely be hit with some major challenges.

6> CAN YOU FOLLOW A STEP-BY-STEP PROGRAM?
You say, “Yes of course I can”. You need to know more about those steps. If you truly are new to this then you will have no idea that this may involve doing things that you wouldn’t see yourself doing not ever! I’m just bringing up this point so that you are aware of it. What one person is happy to do another will never do. So just be aware.

I followed the steps and got lost. I entered into a barrage of new stuff. I crammed it all into a few precious hours I had each evening. Now I was rocketing ahead with ” the new business”. Learning about scripts and how data was collected, what the products were and how fabulous they were and how much stuff I needed to sell to get a decent amount to live on. Then I started to learn about recruiting and I still didn’t actually have a customer. I was exhausted!

When was I going to “work the business” when I had so much to learn. One month went by then another. The amount of stuff involved to get set up was phenomenal.

Then I reached the bit that asked me to contact all my friends and offer them the product. This was when I learned about COI for the first time. Circle of Influence. I’m a pretty shy person. I love my friends. They are family to me. They are the diamonds in my life. Most of them have very little money. If I had to rely on my circle of influence to buy my stuff so I can get rich then I may as well stop now. Even if they were interested in my new product (and they weren’t) if I had to rely on them to be interested now well let’s just stop right now. Then I learnt the term “cold calling”.

I know it may sound pathetic to some people but I for one could never do cold calling. I just don’t have it in me. I have a challenge to order take away Pizza! Perhaps you can do it? Great! Good on you. But just be aware that some groups will focus on this area. If you can’t do it and you don’t want to do it then don’t get involved with that particular group.

7> DON’T RUSH IN
So you’ve decided to go ahead and join a particular network-marketing group. Great. There are heaps of positive things about this form of business. You’ll need to start buying stuff. Well it might be websites, communication systems, stock, books, a merchant account, business cards to name a few. I ordered too much stuff at the beginning. I thought I was going to the top. I wanted the big breaks and the big 50% earnings on everything I sold right from day one.

I should have gone in small. Then I could see if I could do the work first. Upgrade to a better deal once I was comfortable with the day-to-day stuff. After I’d proven to myself that I could make a sale and do the deal. I didn’t need to buy the car decal. I didn’t need to fill my spare room with stock. I could have gone at a lot slower pace. You need to talk about this before you put your money down.

I took the car decal off after 2 months. I was constantly embarrassed by it being there. I never got used to it. I hadn’t connected with my new business and my friends were confused and worried for me. I have a years supply of stuff and I could have just bought one-month worth! HEY at least it’s edible!

8> PERSONAL DEVELOPMENT
When I started out on my first network marketeering experience I loved the fact that personal development was down as a priority. I love personal development stuff. I started off reading the books that were suggested to me to read. I devoured them. Somehow though it didn’t filter into my real life and I was still faced with all my fears.

I still couldn’t hand out pamphlets in the local shopping center. I still have posters I made that I couldn’t physically put on poster boards. I’m quiet well known and respected in my local community. I just couldn’t get over the fear that if I advertised my new business locally that every one would laugh at me or somehow think less of me.

I was still overwhelmed by fear when I got out of my car after driving for an hour to get out of my local area to post leaflets in letterboxes.

I did it and I did it again. I just didn’t enjoy it and I wasn’t getting used to it. In my mind when I started this new venture I saw it as an Internet business. In reality it was still in the last century. It didn’t actually involve door-to-door sales but it may as well have. I had a website so what on earth was I doing posting leaflets in letterboxes?! My upline couldn’t help me here. How on earth was I going to sell my products in strangers’ living rooms? Everything was overwhelming me then I did the thing they tell you you must NEVER DO! I GAVE UP

Now you may think I have a negative view of Network marketing. I don’t. I learn heaps from my first experience and I don’t regret it. We all have to learn what we have to learn. I would encourage everyone who reads this article to really think and be as well informed as possible before putting your money down. What didn’t work for me will certainly work for others. I would never have found Success University if I hadn’t joined my first networking group. Now I still love personal development. I still have my big dreams of financial independence. I am proud to put up posters and advertise my association with Success University. I wish everyone the very best and may all your goals be reached and your dreams come true.

ABOUT THE AUTHOR
Sarah Smith is a Student of Success University. Since joining the university her whole outlook on internet and network marketeering has changed from the negative to the positive. She is learning the skills needed to be successful on all areas of her life and achieving that once elusive dream of residual income. You can find out more about Success University at http://uxl2.successuniversity.com/slim

Category: Money