This blog post is meant to help you understand the factors that determine success in this business and also help you build a stable residual income much faster. There are currently over 5,000 network marketing companies in existence today. Finding the right one to work with is very important that’s why I’ve come up with this guide.
Without further ado, here are some factors you should consider when deciding on the products to market.
Which is the Right one for You?
“What network company is best for me?” This is one common question among intending network marketers.
There are so many network marketing companies out there, the ‘right’ one for you depends on several factors, most prominent being how passionate you are about their product/business.
If you do not have a passion for the business with which you work, prospects will be able to spot a lack-lustre sales pitch and won’t buy.
Products or Services
>> You need to have a really awesome product even beyond it having a compensation plan attached to it.
>> You need a consumable product
From past experiences, I’ve found diverse products to have more residual income potential when compared to services. Although services are ‘easier’ to sell, it isn’t always more profitable.
Here’s why I think so…
When you sell a service, it’s like an easy way out; because you don’t have to explain all the intricate details of the product. But, people can only need so many services in a month.
When you sell a product, however, you can get much more revenue per customer. You may begin by selling one or two awesome products to your customers.
When people see how superb these products are, they’ll go on to buy more products from you. This way, your potential revenue is endless. This is why it’s so important that you find a company with quality products.
Direct sales or Network Marketing Companies
Not to start a debate here, but there are big differences between a Direct Sale and a Network Marketing Company. One common mistake newbies make is assuming they’re the same thing.
Here are a few differences:
- Direct marketing companies are more invested in durable products while network marketing companies are more about consumable products.
- In direct sales, you work on a commission basis (you get your money when you make a sale) while in network marketing, you earn your money by building a system (this is where residual income lies).
This is why I insist that you make sure that the business model aligns with your goals. In my experience, finding a company that sells consumable products is often the faster route to making stable residual income.
Here’s my advice:
If you want to make stable residual income, go into business with a company whose products are so good that people will buy with or without a compensation plan attached to it.
And finally, find a company that deals in consumables as this will save you the time and energy of re-selling to your customers over and over again.