Your Network Marketing Startup
When you hear people refer to starting their home-based business as a “network marketing startup” or an entrepreneurial venture, understand that that is exactly what it is. One error that many new network marketing business owners make is not understanding that this is not a: another job, b. a cookie cutter follow the blue print venture; 3. a plug in, sit back, and rake in the cash venture.
When you take the initiative to start a network marketing business, you join an exclusive club of entrepreneurs. You now won a startup company, and you need to treat it that way!
The Network Marketing Product is the Same, But That’s Where it Ends
A misconception that new network marketing professionals make is that its a “system” that everyone plugs into and duplicates the same process and that leads to the same results as someone else. You will hear that you have the same product, marketing plan, compensation plan, and system, so just plug in, take the action, and enjoy! Not quite. There is truth is some of this, but the reality is that the commonality ends at the product – and then that is questionable as well.
When you start YOUR business, you put your unique spin on it. While you may be learning from and duplicating the actions and systems of someone else, the reality is you are creating your own approach to the business – this is why you are an entrepreneur and why your business is a startup.
Network Marketing Plan – It’s About How You Want to Do It!
In your network marketing startup your sponsor will usually give you a marketing plan that is the default approach so anyone, regardless of experience, can get up and running quickly. It won’t take long for most people to realize that there are certain things that just don’t come natural, and then they depart from the default marketing plan. That can be a good thing or a bad thing depending on what you do and why.
The reason network marketing companies provide duplicable systems is because most people would fail if they didn’t have a roadmap of how to get started in this business, so that is a very good reason to start with a known plan. The reality is that you are an entrepreneur and your network marketing startup is in essence just that: an entrepreneurial startup. Treat it like that!
On the other had, if you have a vision of what you are to become in this business, and a vision of what you want to accomplish, then there is a pretty good chance you’re going to let your creative juices take over and you will develop your own marketing plan. That is exactly what you need to do once you understand what business you are in in the the first place!
You need to put a plan in place that takes advantage of your talents, skills, passion, purpose, and whatever else it takes to turn you on to this business. That marketing plan may not be what your sponsor or company gave you in the first place.
The Network Marketing Compensation Plan is Just the Start
You need to understand with stark clarity that you are in business, and business is about making money. Your compensation plan is the basis of your financial planning and strategy, but you also need to adopt and take advantage of parallel streams of income. This is sometimes known as funded proposals, affiliate marketing, consulting, self-branded products, and so forth. The bottom line is you ARE NOT in the business of building a downline, YOU ARE in the business of building a business.
So while you will have the compensation paid by your network marketing company per the compensation plan, you should also plan to build multiple streams of income from other sources that are allied and synergistic with your primary network marketing opportunity.
Your Network Marketing Startup
When you start your network marketing business, you are a startup. That means you have to develop a unique selling proposition, create a marketing and business plan, and differentiate yourself from all the others out there. This is very easy to do if you just sit down and think it over.
The unique selling proposition is you! This is a people to people business, so your leadership, purpose, passion, and creativity is a product in and of itself. Put your spin on this business, and make it the best one you can. There is only one you.
The marketing plan is simple, too. Make a list of who you know, who they may know, and categories of people you don’t know, but whom you can come with a way to approach them. Then schedule contact with those people. Create whatever approach script you need, practice it, and get after it. That’s the beauty of network marketing – it’s basically person-to-person. Don’t get carried away with other marketing approaches.
The business plan is simple, too. Take your compensation plan, figure out what you need to do to get into the profit mode in the first 30 days, then figure out how to rank advance two levels in 90 days, and chart out what you need in terms of people and volume to do that. That’s your business plan. Get after it!
So You See, This is a Startup and an Entrepreneurial Venture
You can now see why a network marketing startup business is an entrepreneurial venture, and yes, it is a startup. It’s not a cookie cutter venture. Your success depends on you putting your unique but personally effective spin on this business. Treat it that way, and you’ll have fun, profit, and lifestyle to envy!
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Here’s to lifestyle fun, profit, freedom,and impact in your network marketing startup business!
All the best,
Dana
