The fundamental nature of network marketing principles is founded upon the going direct concept united with developing relationships between manufacturers and consumers. After all it's a well known fact that 'word of mouth' is the best advertising.
Currently it is estimated that there are more than 50 million people worldwide involved in network marketing with almost $100 billion in annual wholesale revenue. This industry is recognized as one of the fastest growing industries in the world today and is predicted to have significant growth well into the future.
Many business leaders are now endorsing network marketing as a proven system for anyone who wishes to achieve financial success because it is one of the fastest growing industries of all times.
This industry is projected as the fastest growing economic trend in our society. Once due diligence has been performed to find the right company all that's left to do is have the commitment and the desire to learn from those in your company who have succeeded.
Perhaps the first and foremost important lesson to grasp is how to identify unscrupulous companies. A sure way to recognize a scheme is when you are approached by someone emphasizing recruitment. Oftentimes people are fraudulently persuaded to invest money into a business enterprise without receiving any tangible products or services that they can evaluate; on the premise of unusually high returns. Any program in which most of the revenue comes from recruitment should be considered an illegal pyramid scheme.
In a legitimate company one person builds the foundation for long-term business growth, and then they sponsor other people and teach them how to sell the company's products or services. These individuals in turn sponsor others to duplicate the process. While this is a team effort, each person is actually becoming successful as they sponsor other people and duplicate the system.
One concept that is taught in most college courses is creating S.M.A.R.T goals. The acronym stands for Specific, Measurable, Attainable, Realistic, and Timely. This same principle can also be applied to a network marketing business in this formula: Goals + Action = Results
All network marketing companies will instruct their business partners to develop their goals, write them down, and plot a course of action to assist them in attaining those goals. It is instrumental to position those goals where they are always visible so that focus will always remain on them.
Anyone who has been successful in this or in any other business industry will tell you that if you are not actively involved in a plan to achieve your goal you are doomed to fail. There is an old adage that says: "If you fail to plan, then you plan to fail".
In a network marketing company you don't need inventories and you do not need to create and manufacture the goods and services yourself, you are simply the 'go to person' doing the direct selling. Now that is a 'Win-Win' situation!
