First of all, let me say that there is really no “secret” to making money online in your network marketing business! It just seems like a secret because so many people struggle earning even a dime in their business. There are many different ways to go about making a substantial income in network marketing. I want to share with you my opinion of how to set up your business, that will give you your best chance of achieving network marketing success.
1. Sales Funnel: A sales funnel is important because it enables you to earn from many different sources (typically affiliate programs). This income will generally not be huge money but will provide you with enough income to at least cover your advertising expenses and possible even more. The way it works is that you join a “sales funnel” program (unless you create your own) and promote that program. Your direct referrals will be exposed to every affiliate program in your sales funnel and you earn when they join the affiliate programs.
2. Direct Sales or G.P.T. Business: We all hear of and experience the dreaded “inactive downlines” and high network marketing attrition rate. This is just an unfortunate part of our industry. The typical network marketer will recruit 2.3 people. That’s the industry average. So, all of these programs that require you to build a downline of 100s or 1000s in order to earn a substantial income sound great but don’t work perfectly. The people that have massive success with these traditional MLM style programs are monster recruiters. Sure, you try to teach duplication but…
So, I am a believer in joining a business that pays you for each sale that you make. You can certainly also just sell products — something that will pay you for your efforts and your efforts alone. Most direct sales businesses will also pay you an override on sales made by your team.
3. Residual Income Business: I do also believe that you should be in a business that will provide you with a residual or passive income. A business that will pay you for the work that you do to assist your team and in turn, the work that your team does. OK, I’m not a hypocrite! As much as I don’t care for the traditional high-cost MLM, I still understand that you should have a business that allows you earn off of the efforts of others. Depending on what you like, there are cycling programs, matrix programs, board programs that range in price from $10 a month to $200 a month with some one-time payment programs as well.
Do your due diligence when researching these companies. Don’t just fall for the hype. Ideally, you will want to partner with a mentor who will help you to succeed by providing you with marketing and business building assistance. Good luck…it is my sincere feeling that if you truly desire success in your network marketing business and are prepared to do the necessary work, you will achieve it beyond your wildest dreams!
To Your Success,