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There are too many definitions of what network marketing is these days.

Some folks’ll say that network marketing is all about sharing.  Some will say that network marketing is a business model that rewards you with a multi-layered form of residual compensation. Still others say (incorrectly I might add) that its an unethical pyramid scheme!

Here’s what I say: network marketing is a business that enables you to move products and services through a large network of other distributors and consumers and get paid on an ongoing basis for work you do once. The key components of leverage through others and ongoing revenue are probably two big reasons that Donald Trump and Robert Kiyosaki both recommend network marketing.

So here, IMHO are the essential elements to a network marketing business:

1. Marketing your business to Generate leads

2. Prospecting (sifting/sorting) the leads for business builders

3. Selling/Moving products and services to customers

4. Training people to train others do the same thing

These elements sound so simple right? But here’s the real kicker in all of this: while each of these elements of a network marketing business may seem simple, only a handful of people really understand each element and how to put them together to run a successful business like the pros. And those pros are the folks you keep hearing about jumping pin levels and seeing on stage at your convention.

Generating leads for your business is really all about MARKETING. And marketing is all about crafting an influential and ideally ongoing communication strategy to TARGETED prospects in order to get them to take action. That action could be to download a free ebook, opt into a list, send for a dvd, fill out a survey, buy your product, or join your network marketing business or any combination. The bottom line though is if you don’t really understand marketing, you will spend a great deal of time spinning your wheels in your network marketing business.

Prospecting your leads and sifting for the business leaders with them involves understanding what motivates people but also HOW to talk to people answering questions and dealing with objections. With network marketing, once you generate leads you WILL need to talk to them at some point and build a relationship.The nature of that relationship will determine whether they decide to join your business or buy into your service.

Believe it or not, they aren’t joining your business, they are joining YOU based on how much they know like and trust you and how influential they see you as a leader and how much they believe you can help them succeed in network marketing. Therefore you need to learn how to talk to people and how to influence people so they see you as solution to their problems. This in my book in part of becoming a LEADER.

Selling products and services forms a core part of network marketing because obviously if no one buys your network marketing products or services you have no business. You need to have some knowledge and comfort level around your product/service what it does and how effective it is and why your target market needs to have it. You don’t need to know everything but you need to know enough to be able to represent the product and enough to know where to leverage your time and point people to additional information when they need more detail.

Training others Once someone enters your business – hooray! You’ve gotten past a big hurdle. Most don’t even get THAT far. Here’s your next big challenge. You need to train your new distributor to do what you’ve just done. This is where systems can be extremely helpful. If you have a proven standardized training system then you can and should plug your new distributor right into this program.

Training is key because statistics show that if a new distributor isn’t making any money after 90 days they WILL drop out. Most distributors have a hard time at this point because they haven’t themselves been trained properly by their upline. You need to make sure that YOU have the proper training yourself so you can go ahead and train your own downline and they can train theirs, maximizing your network marketing business success.

PR: wait… I: wait… L: wait… C: wait… SD: wait…

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