We have never really focused on network marketing here at PowerHomeBiz. But according to the Direct Selling Association, 54 million entrepreneurs worldwide are involved in network marketing, otherwise known as direct selling and multi-level marketing. In the US alone, about 175,000 people start a network marketing business every week.
If you are involved in network marketing or thinking of going to this route, I suggest you get a copy of the newly released book “Be a Network Marketing Superstar” by Mary Christensen. It is is full of tips on how you can succeed in this increasingly competitive space.
According to the author, there are six core skills you need to be a network marketing superstar:
1. Scheduling. Your planner is key to your business — you need to see it full of bookings and appointments. Otherwise, your business is in jeopardy.
2. Selling. Of course in this business, your income will depend on how much product you and your recruits sell.
3. Recruiting. This is a critical skill you need to master, as you cannot succeed until you learn to promote your business effectively and recruit the right people.
4. Building Relationships. This is just about the 80-20 principle that says that 80 percent of your business comes from 20 percent of your customers. It is hard to find new customers so you need to make sure that you can maximize the revenues from your customers.
5. Mentoring. Your success depends on the success of people you recruit – and that means you need to give your recruits quality support and training they need.
6. Managing. As your business grows, you need to learn to juggle several things at once and make various decisions. You need to have the right management skills to succeed in network marketing