Debt Free Network Marketing Part 2

How to Get Your Network Marketing Business in Profit, FAST!

In part 1, I provided three reasons why people rack up debt starting their network marketing businesses, and how to avoid it. In part 2, I examine ways to get your business in profit and how to keep it there.

Network Marketing = Marketing = Sales

This is an elementary element of business that in my experience the majority of people starting businesses – any business, in fact – fail to recognize. Think about it… you are entering the network MARKETING industry. The purpose of marketing is generally to sell something.

So, you should expect to learn to market and learn to sell.

Not only that, but you need to expect to fail at first (which is why you need to focus on low-cost and no-cost marketing). Yes, I really did say that – expect to fail! Everyone does, in every business no matter what it is, traditional, online, MLM, whatever. Failures are how we learn.

Note that I only use the term “failure” because it’s the common term. However, I prefer to reframe “failure” into “learning experience.” And believe me, I failed (er, “learned”) my fair share in the traditional business world, the only difference being that the stakes were a lot higher there!

Sell Your Products, Make Profits

Retail sales are the simplest way to increase your cash flow in your business. If you can’t sell your products, you need to ask yourself the following questions:

1. Is it me? Do I lack the skills necessary to sell effectively? If so, this is a challenge that is easy to fix; go get Kim Klaver‘s “Three Scripts” and “If My Product’s So Great” course and books. They offer a simple solution to the cash flow issue most networkers run into, and they will help you get over your inability to retail your products.
2. Is it the products? Would I buy this product even if I wasn’t selling it? Personally, I can’t sell something I don’t use or don’t believe in, and if you don’t believe in your products you won’t either. The products I sell actually help me feel better and I use them, every single day. If you can’t say the same, you need to find another product and company you can believe in.

Sales = Profits, it’s as simple as that. Plus, retail customers don’t opportunity-hop, either. Stabilize your business by building your retail sales, and you’ll find it easy to stay debt-free when starting your network marketing business.

Build Your List

Having been a successful online marketer for some time now, I have learned that it really is true that the money is in the list. I built a very small (for most full-time marketers) list of 2,000 names in an obscure niche, and it has sustained much of my business sales and income for quite a while now.

The reason it is so profitable to build a list is that:

• It allows you to build a relationship with your list members by building trust with them over time -
• You can market to your list over and over again -
• It’s free (except for the cost of your autoresponder system)

Besides all that, your email list IS your lead list, which you should be building anyway. Automating it by inserting a lead capture form on your site just makes good sense. If you haven’t done this yet, start now by setting up your blog online and installing a form to capture leads on it immediately.

Fund Your Proposal

“Funded proposal” is fancy marketing speak for getting paid to collect free leads. I don’t know who came up with the idea initially, but I’ve heard it from several different sources and read variations on the theme in a half dozen network marketing courses.

Here’s how it works:

1. You set up a website to capture leads…
2. That website offers some sort of free giveaway to entice people to visit and fill out your form…
3. The free offer includes a backend sales offer for a product that you either own outright or that you get a commission from…
4. A percentage of your leads will end up purchasing that product, thus funding things like your monthly cost of purchasing products from your company, your web hosting, and so forth.

It’s a really simple, yet brilliant and powerful concept. Only three caveats though:

1. Make sure your giveaway and backend product really has value. I suggest that whatever product you promote, that you choose something that has actually helped you in your own business.
2. Don’t oversell it. Talk to your prospects like you would talk to a friend. Trust is a fragile thing – abuse it and you’ll lose it forever.
3. Don’t get so tied up in affiliate marketing that you forget to grow your business… you know, that network marketing thing that got you into this stuff in the first place? That’s your REAL backend product, and don’t you forget it. If you’ve chosen the right company, it will be there for you long after the sizzle from your front end funded proposal fades away.

Wrapping It Up

Let’s recap:

Strategy #1 – Learn both marketing and sales skills.

Strategy #2 – Retail your products and build a strong customer base.

Strategy #3 – Build your list using an autoresponder to capture leads.

Strategy #4 – Use a funded proposal to pay for your remaining business costs.

The above four strategies and concepts will transform you from a hobbyist into a respectable business owner who turns a real profit in your business. Implement these strategies and you can quickly and reliably create an additional income stream. Believe me, this is a much more powerful business model than the traditional network marketing approach that causes so many new networkers to fail.

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