Why You Should Do Network Marketing Business & Secrets to Succeeding In It - Pt1

Many of us are familiar with the saying - your network is your net worth! I've heard this many times in the past that I got to a point where I became confused.

Why was I confused? I looked around me and noticed I had lots of influential and well-to-do persons around, yet, my financial life remained very miserable. It took me sometime to understand that having a great network doesn't automatically translate into a great net worth.

It is the ability "dig" value from your network that delivers the corresponding net worth into your laps and you don't dig value until you give or plug your network into value. Have you seen many influential personalities such as pastors, Imams, life coaches and all sorts living from hand to mouth? They simply do not understand this principle.

The word Network Marketing could be substituted for Multilevel marketing (MLM) or Direct Selling (since products go directly from the company to the consumers through the distributors). For the sake of this write up, I'll be using the three terms interchangeably.

For a long while, I made a decision never to get myself involved in the network marketing industry. I've had several friends pitched lot and lot of such businesses to me in time past, some even go the extent of registering me with their own money: but my mindset which was formed by the many terrible things I've heard about the business model as well as the beggarly life I see many in the business live was a big put off for me.

But then, I decided at some point to do a bit of research into what it is that makes some succeed while others fail in this industry. My discovery revealed that Network marketing business is one of the most rewarding businesses of the 21st Century (if approached rightly). I guarantee that this is one of the best posts you'll ever read on this subject matter. I've segmented it into parts to make it digestible in bits.

Let's go on:

Statistics

1. Did you know that the MLM approach was first adopted in the year 1886 by a company called Avon? The success of this model adoption by Avon, has since spurred up several other network marketing companies globally.

2. In 2017 alone, total global sales in network marketing industry stood at approximately $200billion, of which about $80billion was paid as commission to distributors. Globally, network marketing businesses pay as much as $208million in sales commission daily!

3. Of those who do network marketing businesses, about 84% do it as part-time business while 16% do it on full time. A dedicated full timer earns an average of $55000 annually. (Approx. 20million naira)

4. 85% of those in network marketing are whites/Caucasians, 8% are African-Americans, 4% are Asians and the remaining 3% goes to others.

No wonder Billionaire President, Donald Trump made the statement few years back that if he should lose everything and have a reason to start over again, he would choose Network Marketing and search for a company with a great compensation plan.

The above statistics clearly indicates that despite the huge volume of wealth in the Direct Selling Industry, less than 1% of Africans are involved in it.

Many Nigerians for example, prefer to cast and bind the spirit of poverty every now and then: believing that someday "God will do it."

Let's get one secret of wealth very clear - wealth resides in any program where money flows! In other words, if one discovers a system with a great volume of cash flow, then plugs in and creates a channel (a subsystem that redirects a portion of this flow in his/her direction), such an individual is on the path to being very wealthy. That describes the reason why many die to go into politics in Africa!

Stay tuned for Part 2...

Yours sincerely,
Oluwatosin Reallion Samuels
|Thought Developer||Business Solutions Consultant||Wealth Coach||

Why You Should Do Network Marketing Business & Secrets to Succeeding In It - Pt2
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[Understanding The Relationship Between Network Marketing & Perpetual Residual Income]

One crucial fundamental to building lasting wealth is to create a system that guarantees consistent income with or without your input. Let's ask ourselves some simple questions.

Q1: What is residual income?

Residual income is NOT the 'left over' income you make after the "real income" has been amassed. It is rather the product of a financial system you build to guarantee a consistent income: delivered by the Time, Influence and Efforts of the members of your team.

To enjoy complete financial freedom, you need to do everything to become a Perpetual Residual Income Builder. (PRIB)

John Rockefeller said, "I'll rather choose 1% of 100 people's efforts than lean to enjoy 100% of my own efforts." That is what we call financial smart! If all the money you make comes from your own efforts alone, you are far from financial freedom! Network marketing is one business model with the capacity to earn you such leverage.

Q2: Is there any difference between a successful businessman and a hustler?

Of course there is. Thousands of entrepreneurs, though recording lots and lots of business successes are not yet at the level we can term "successful". I understand that statement sseemsconfusing but I'll explain.

You become what we could call a successful businessman when you are able to leverage OTHER PEOPLE's Time, Influence, Money and Efforts (OPTIME). The implication of this statement is that, if 100% of the profit you make is produced by 100% of your efforts alone, you are still miles away from being called a successful businessman. Such an individual is best described in street parlance 'a hustler'. It's not a bad appellation though, as many of us currently wear that badge with great honor at the moment, knowing we are in process - on the path to destiny.

It's absolutely not bad to start a hustler, remaining one is what needs to be checked. The one proven way to enjoy OPTIME is to create or 'leverage' a system that pays people to work for you and pays you grossly too. Such is what Network Marketing business does.

Let me give us just a few Nigerian examples of what it means to be a successful businessman as opposed to being a hustler.

1st example:

The man Aliko Dangote was once asked "how many hours do you work in a day?" His answer was 400000 hrs! And he gave his explanation: he pays 50000 staff to serve him at least 8hrs each day. Is it now rocket science to understand how he managed to become & remain the richest man in Africa? He has simply built a network of staff who contribute at least one-third of their daily allocation of 24hrs daily to work for him. Their work is to build a network of consumers for his products. That simple structure built shot him to the top!

2nd example:

If the UBA boss, Tony Elumelu or the Zenith bank boss, Jim Ovia decide to go on a year vacation today, will their business collapse? Hell No! Why? They are successful businessmen - they've built a system that works for them both in their presence and in absence.

As a freelancer, can you decide not to work for months, yet be making money? As a shop owner, can you decide to stay off your shop for a whole month and still have your business in place? Whatever business you do, put it in the gap and ask yourself the same question. If you run a business that is all built around you and cannot thrive in your absence, you are still a hustler. That's the simple litmus test to check the health status of your business.

Let me say 2 things at this point:

1. The most important factor to creating lasting wealth is to build a system that put your business on auto run, such that it spins you perpetual residual income (PRI) - with or without your input.

2. It's not slavery to work for others, it is service, BUT you become a slave when in building an empire for others, you lose your own identity. We are creators by nature because we are seeds of the Creator (the Almighty). While at an employment, I encourage every salary earner I'm priviledged to speak with to start a side business, plug into an investment or enter a business partnership that guarantees your financial future.

If you don't leave your job, someday your job would leave you. In saner climes, jobs have security but we need to be mindful of the fact that in Nigeria, nothing is secure. You need to plan for the "evil" days, they would surely come!

...stay tuned for Pt3