Many people have made fortunes with network marketing online or also known as Multi Level Marketing or MLM. Somehow we tend to look at the word networking especially in business as something illegal or dubious in nature. But trends change over time and Networking is slowly getting accepted into the business scene. So the question is what is Network Marketing or MLM? And how can we improve our income with it?
Network Marketing or Multi Level Marketing is like a relationship business, it is about focusing on customers for your products or services or it is helping other people build their own businesses. As most of the early networking business, it is an unseen business and it is about sales.
In order to join a Multi Level Marketing Campaign, anyone can just invest a small amount of money and later on by building as much contacts as possible (Active contacts of course) you may achieve high levels of financial rewards. Network Marketing don’t have giant offices in large metropolitan cities, but according to surveys almost 14 million people in the United States are working in the Network Marketing Industry.
Network Marketing Up Close
Network Marketing usually offers reasonable priced products and services to customers. It works on a commission structure but is less up front than the direct sales companies. Independent sales persons called distributors represent a certain parent company and are rewarded a commission relative to the volume of products sold.
These distributors earn more money by developing their own active customer base, who buys directly from the parent company or through recruiting other independent distributors who would also build their own customer base, expanding the whole organization itself. Network Marketing also has a good benefit that most Direct Selling Companies does not have, and that is residual income. But what is residual income in the first place?
Residual income or also called as passive or recurring income is an income that continues to be generated after an initial effort has been expended. It could be compared to the royalties that inventors get whenever a company sells his own invention. One important aspect of residual income is that you continue to make money from the initial efforts that you made. With that free time you may be able to generate more residual income.
Network Marketing Training
Now that you know a bit of the Network Marketing system then maybe it’s now time to start your own Network Marketing business. Starting your own Network Marketing business may not be an easy thing, and most of the time it takes too long before your effort bear fruits, but don’t fret!
That is one of the common reasons why some people quit on network marketing. They think that because for a very long time they still don’t reap their residual income they think they are on the losing edge and quit. This is a wrong move, expanding your network is not a task that could be completed overnight, it is a long process that involves hard work and correct motivation.
For you to learn more over Network Marketing, it is always good to look for experienced as well as seasoned people involved in this business. There are good books in bookshops that offer tips and motivation in Network Marketing. There are also sites in the internet that offers online training for aspiring Network Marketer’s. With an open mind and a motivated spirit anyone can earn big bucks in this kind of business.