Steps to Executing Your Network Marketing Business Plan

You have received your welcome kit from the network marketing company you recently signed up with and you are fired up and ready to get started. You begin by identifying your target market so you know which people fall into the customers (product) category and which fall under the business partners market. You have developed your marketing strategy, established your goals, defined your work schedule, written your business plan and your personal testimonial about the company or product, now what?

Share Your Personal Testimonial

Asking someone to sign up as a new distributor may be hard in the beginning. However, since you already have personal experience with the products and/or services and know that they work, recommending them to others will come easily for you. There are many ways to share your story with others.

Word-of-Mouth

It cannot be said often enough that network marketing is built on word-of-mouth referrals and duplication.

Got a great product? Share it with others by telling your personal product story to friends, families and people you meet. If they are curious, offer to sell them the product right then. Some companies also provide samples for your use. If they do, by all means, offer them a sample. Always have a business card with you to leave with someone and ask that person to share it with someone they know that could benefit from the products or business opportunity. Consider developing a "rewards" program for acquaintances that are not interested in purchasing, but that refer someone who does.

Sampling

Your company provides samples, so how should you use them and how do you decide whether you should charge a prospect for samples.

The power of sampling is that it is simple, quick, and easy, and it allows the products to speak for themselves. While there may be times that you will want to offer a free sample, your business practices should always be geared toward making a profit. So, do not be afraid to charge for samples. When a person pays for something, even if it is a small fee, the brain sends a subliminal message that this is a product of value. If you are introducing a new product to an existing customer, consider giving it to them free. They are already buying from you and if they like the product, chances are that they will purchase it as well. However, if you are introducing a hot new product to the market and want to impress the value of the product to a new prospect, charge for it. If a prospect is lukewarm, always charge them for the sample. That way you have not gone in the hole for the cost of the sample.

Hold and Attend Business Opportunity Meetings

Business opportunity meetings can be a powerful way to introduce a new prospect to the opportunity and to help keep you motivated.

When a group of dedicated distributors come together to host business opportunity meetings, these people normally know how to generate high energy and an emotional impact on the attendees. People that swore they would never get involved in network marketing find themselves caught up in the excitement and signing on the dotted line. However, a word of warning; your goal is to do more than recruit a new distributor - you need them to be active. Therefore, if your prospect signs up, remember that you will be responsible for their training and support. If you are not ready yet to host your own meeting, then attend one that someone else is holding and invite everyone you know to go with you.

Duplicate Your Efforts

As we noted earlier, network marketing is all about word-of-mouth referral and duplication. You want your new distributors to duplicate the proven strategies you and other highly successful professionals use. Have a one-on-one meeting with each new distributor and assist him/her with determining the level of activity that is required to reach each goal. This practice builds momentum, strengthens your network and provides a steady stream of residual income for all of you.

Participate in Corporate Meetings

Attending corporate sponsored meetings with your sponsor and downline will give you the opportunity to share your success stories with newer distributors and ask seasoned professionals for solutions to obstacles you may have encountered. It can often provide you with new techniques and/or tools that increase your odds of reaching your target goals.

Update Your Business Plan Regularly

Nothing lasts forever, especially a business plan! As your business grows and professional knowledge evolves, you may discover a far better method of promoting your business or find another advertising venue you would like to purse. When this happens, you will need to reevaluate your time commitment, marketing methods and the amount of money you have budgeted. In network marketing, success comes when you have set goals that are reachable within the amount of effort, time and consistency that you have allocated to your business.