Even widely known authors and business people such as Robert Kiyosaki (Rich Dad Poor Dad), Donald Trump (Trump University) and Tony Robbins (Robbins Institute) have all stated that Home Based Businesses and network promotion, direct sales and MLMs will be the biggest growth industry of the next decade.
The highly respected Forbes Magazine forecast that an fabulous 79,000,000 new home based businesses would start over the next seven years. That’s over 500,000 a week – and in the U.S.
Now that’s certainly not to say that the MLM business model suits everybody. There is always a massive drop out or failure rate, but then that holds true for much any business, online, offline, MLM or whatever. Most Businesses do tend to fail in their first 4 years, but out of the tens of millions that are started each year, there's plenty that do succeed.
Entrepreneur Magazine estimates that the US home-based business industry may be worth over $420 billion a year; that’s over pharmacy; food; and consumer goods combined; with an average home office household earning of 65,000 US dollars a year.
With increasing financial uncertainty; job lay-offs and a shift in thinking to generate a better lifestyle, home based businesses as either an additional part-time income or replacement of primary income can only grow massively over the coming years.
So exactly what does it take to succeed with a network promotion business. Most experts tend to agree on the following attributes:
1. You must be prepared to “network” with likeminded people. People who join network promotion companies and do nothing never get anywhere. The only way to succeed is to get involved and build your business. Now this doesn’t mean you must become a leech to your friends and relatives and sell them stuff, or join them up. On the contrary, most successful MLMs run proper businesses, they learn the value and create the skills needed to generate quality leads to their business. People who are already looking for the products or services they are selling and offer their products.
2. You must have some promotion knowledge, or be prepared to learn some. The net has been a godsend for people looking to generate leads to any type of business. Gone are the days when you had to run newspaper, classifieds, radio ads or letter box drops in order to generate leads. Nowadays someone looking for much anything is looking online. So all you need to do is know how to get your message in front of the people who are already looking for it. Most lovely network promotion companies offer some kind of basic level promotion support, but it’s always a lovely idea to seek out those who are willing to go the extra mile and teach you everything you need to succeed.
3. You must be prepared to do some real work. A lot of people join network promotion companies looking to “get rich quick”. But the reality is, most of them are not prepared to do the work it takes to be successful. Yes there is a lot of money to be made in network promotion, but it’s not a sure thing, you still must work hard, at the beginning if you need your business to take off. ( like you do in any business venture, or anything else worth doing for that matter)
4. Believe in the products you are selling. This should be obvious, but needs to be said anyway, make sure you pick a company who sell products that you actually believe in, use and are happy to recommend other people use. To be success in your business you are going to be spending a bit of time talking about your products, so make sure it is something you can relate to and get excited about selling.
So if that sounds like you, then perhaps you have what it takes to build a successful network promotion business.
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