Network Marketing For Dummies

Front Cover
John Wiley & Sons, Jan 1, 2001 - Business & Economics - 408 pages
Network marketing has helped people all over the world achieve financial independence—and it can help you do the same. As a profession, network marketing invites all people, regardless of gender, experience, education, or financial status, to jump on board and build a satisfying and potentially lucrative business. If you want to improve your current financial situation and are ready to become your own boss, then networking marketing is the way to go.

Whether you want to work full-time or part-time; whether you dream of earning a few hundred dollars a month or thousands of dollars a month, Network Marketing For Dummies can show you how to get started in this business within a matter of days. If you’re currently involved in network marketing, this book is also valuable as both a reference source and a refresher course.

Network marketing is a system for distributing goods and services through networks of thousands of independent salespeople, or distributors. With Network Marketi ng For Dummies as your guide, you’ll become familiar with this system and figure out how to build revenue, motivate your distributors, evaluate opportunities, and grab the success you deserve in this field. You’ll explore important topics, such as setting up a database of prospects and creating loyal customers. You’ll also discover how to:

  • Get set up as a distributor
  • Develop a comprehensive marketing plan
  • Recruit, train, and motivate your network
  • Maximize downline income
  • Take your marketing and sales skills to a higher level
  • Cope with taxes and regulations
  • Avoid common pitfalls
Packed with tips on overcoming common start-up hurdles as well as stories from more than fifty successful network marketers, Network Marketing For Dummies will show you how to approach this opportunity so that you can begin to build a successful and satisfying business of your own.

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What Network Marketing Isnt
About This Book
Conventions Used in This Book
How This Book Is Organized
Finding and Evaluating the Opportunities
Signing Up and Setting Up for Success
Sales and Marketing Skills to Help You Build Your Business
Affiliate customers
Prospective customers
Firsttime customers
Giving the Best Customers the Best Experience
Rank has its privileges
The customer is not always right
Chapter 13
Calculating the Cost of Acquiring a Customer

The Part of Tens
Where to Go from Here
Part I
Chapter 1
You May Be Surprised
Understanding How Network Marketing Works
Understanding Why Network Marketing Works
Choosing Network Marketing as a Career
Reasons other than money
Retirement isnt even a concept in this profession
You Get Out of It What You Put into It
Chapter 2
Defining Legitimate Network Marketing
Understanding the difference between pyramids and network marketing
Were not talking about Ponzi schemes either
Network marketing earns some respect
Sizing Up the Challenges Ahead
Awaiting the impact of the Internet on network marketing
the pros and cons
Predicting the effects of consolidation on network marketing
Worrying about Saturation Is a Waste of Time
Defining a New Profession
Chapter 3
Success Begins with Desire
Becoming the Right Kind of Person for Network Marketing Or Anything Else
Ways in Which Network Marketing Can Work for You
It works if you really want it to work for you
It works if you have the right attitude
It works if you have a solid belief system
It works if you know your hot buttons
It works if youre looking for additional income
It works if youre willing to learn from others
It works if youre willing to invest in your network marketing career
It works if you have the right personality
It works if you understand that network marketing is not a job
Understanding the Money Issue
Youre already familiar with linear income
Residual income is a whole nother story
Part II
Chapter 4
Profitability and Reputability
Realizing that some industries are more profitable than others
Watching out for industries that are prone to investigations
Big Brother doesnt snoop and tell
How to Research Network Marketing Opportunities and Avoid Becoming a Turnover Statistic
Ask your relatives and friends what they know
Check out the media
Contact trade associations
Get the scoop from consultants
Questions to Ask Before You Join a Network Marketing Organization
Chapter 5
Doing the Right Thing by Doing Your Research
Looking Beyond the Logo
Predicting the companys future by examining its past
Talking to the right people
Discovering Who Owns the Company
Determining the Companys Financial Situation
Estimating how deeply the company is entrenched in the proverbial debt hole
Does the company have a good credit rating?
Knowing the Companys Philosophy
Finding out the companys vision
Reading the companys policies and procedures
Questions You Should Ask Before Joining a Network Marketing Organization
Chapter 6
Knowing How to Recognize a Good Management Team
Getting to Know the Management Team
Commitment to integrity
It takes more than one or two to make a team
Successful teams work together
A good management team looks to the future
Having Been There Done That Is a Good Thing
Business and management experience
Network marketing experience in the field
Calling on the Pros When Theyre Needed
Attitude Ethics and Quality
A passionate management team has the right attitude
hallmarks of a good management team
Questions to Ask Yourself After Doing Your Research
Chapter 7
Deciding What Youd Like to Sell
Deciding to Whom Youd Like to Sell
Marketability Issues to Consider
Consumption rules
Evaluating whether the benefits are obvious to the buyers
Making sure you can demonstrate the benefits of the products or services
Sizing up the market
Considering additional market factors
Where Did That Market Go?
Threats that challenge the market
Can the product deliver on its promises?
Theres No Substitute for Quality
Making sure the products or services are guaranteed
How Much Training Is Required to Learn about the Products or Services?
Getting your training online
Getting your training live
Is It Your Responsibility?
Questions to Ask a Network Marketing Organization about Products Services and Training
Chapter 8
Defining a Compensation Plan
Payday Was Never Like This Before
Network marketers get paid repeatedly for the same transaction
Network marketers get paid for the results of their sales organization
Recognizing the Major Compensation Plans
Binary plans
Unilevel plans
Stairstep Breakaway plans
Forced Matrix plans
Considering Compensation Plans
Seeking a Balanced Compensation Plan
Paying the distributors fairly
Keeping product volume requirements within a reasonable range
Helping new distributors earn money fast
Creating a home for the parttime majority
Slapping golden handcuffs on seasoned distributors
Evaluating Compensation Plans
Questions You Should Ask Before You Join a Network Marketing Organization
Part III
Chapter 9
Network Marketing Is Not a Hobby
Setting Up Your Business
Selecting a business attorney
Selecting an accountant
Choosing the business format that makes sense for you
Going into Business with a Partner
Considering the talents of the partners
Agreeing to disagree
Working from Home
Establishing your daily routine
Overcoming loneliness
Convincing others that you still have a job
Tracking income and expenses
Relying on Your Corporate Office for Assistance
Chapter 10
Preparing Yourself and Your Surroundings for Business
Planning your success through goals
Catching the vision for your business
Becoming familiar with the companys Web site
Organizing your work environment
Communicating with your sponsor
Getting familiar with the kit
Beginning with the faststart plan
Getting the Word Out
You Cant Be Serious Can You?
Chapter 11
Three Reasons Why Building a Downline Is Important
Deciding Whom to Recruit for Your Downline
Looking for powerhouse associates
Training Your Distributors to Shine
Introducing Zigs golden rule philosophy for success
Getting em all to become products of the product
Setting a training schedule
Motivating Distributors for the Long Term
Motivating by money
Motivating through mission
Motivating by praise
Part IV
Chapter 12
Determining Your Most Valuable Asset as a Network Marketer
Creating Customers
Identifying Your Customers
The familial customer
Tracking leads and evaluating their costs
Determining a customers potential as an investment
Determining the Value of a Retail Customer
Calculating the average commission per retail customer
Calculating the annual number of commissions per retail customer
Calculating the annual commissions earned per retail customer
Calculating a retail customers Maximized Lifetime Value
Making Customers Distributors
Determining the Value of a Downline Customer
Calculating the annual number of commissions per distributor
Calculating distributor longevity
Chapter 14
Setting Up a Database of Prospects
Making Two Decisions Now
Decide where to look first
Decide what you will sell first
Getting on the Fast Track to Prospecting
Identify your warm market
Ask for referrals
Find sources of leads
Contact your prospects
Being a Good Ambassador for Your Company
Handle rejection positively
Chapter 15
Some People Are Just Waiting to Tell You Yes
Every No Is a Step Closer to a Yes
Working Your Leads Repetitively
Follow Up Even When Youd Rather Not
Repetition cultivates relationships
Following up uncovers the seeds of discontent
Following up triggers different emotions
Following up works
Six followup techniques you can use
Using Technology to Do the Followup for You
Autoresponders follow up 247 and never tire
Web sites that follow up for you
Asking for Help Is Another Way to Follow Up
Following Up Keeps You from Giving Up
Chapter 16
Developing Your Personal Marketing Plan
Selecting marketing activities you enjoy
Using a marketing notebook
Dipping into Your Bag of Marketing Tools
Telephone scripts
Business cards and stationery
Networkwide phone service
Web sites
Getting Face to Face As Soon As You Can
Inviting prospects to your home
Inviting prospects to public opportunity meetings
Chapter 17
Advertising in Newspapers and Magazines
Buying ad space
Refraining from writing your own advertisements
Use That Telephone
Pros and cons of telemarketing
Telemarketing etiquette
Youve Got Direct Mail
The pros
The cons
Building a great mailing list
Mailing an extraordinary offer
Speak Up Speak Out Speak Wherever You Can
Speaking to organizations
Teleconferencing your speech
Youve Got EMail
Thou shalt not spam
Thou shalt send thy neighbor legitimate email
A Web Site for Every Networker
Generic Web sites
Chapter 18
One of the Worlds Most Honorable Professions
Selling requires training
Selling requires preparation
Selling Is a Process Not an Event
Examining the customers needs
Selling the benefits
Taking action by closing the sale
Understanding Your Role in Sales
Chapter 19
Understanding Why People Dont Buy
Creating a relationship of trust
Building trust by making a good impression
Focusing on the Customer by Asking Questions
Asking Questions Leads to More Sales
Asking closedended questions
Asking openended questions
Selling Big Requires More than Being a Good Salesperson
Loving your product is quality two
Overcoming Sales Objections
Managing Objections
Going for the Sale
Chapter 20
Keeping Customers Equals More Profit
Loyal Customers Require a System
Building Customer Loyalty
Using the attitude domino effect to everyones advantage
Doing it right the first time
Gaining Loyalty by Meeting or Exceeding Customer Expectations
Recognizing customer expectations
Creating customer advocates
Keeping Customers Loyal
Building Your Business from Referrals
Handling Customer Complaints
Responding quickly usually saves customers
Keeping your cool helps save customers
Part V
Chapter 21
Network Marketing Lifestyles Magazine
Direct Selling Association
Direct Sales World
Passion Fire International
MLM Insider and Network Marketing Today Magazine
MLM Nuts Bolts
Performance Tracker
The Wave 3 and Wave 4 Books by Richard Poe
Chapter 22
Theyre Dreamers
They Dont Try They Commit
Theyre Teachable
They Have STEAM
Theyre Good Finders
Theyre Always Present
Theyre Motivated
Theyre Persistent and Patient
They Have a Heart Condition
Chapter 23
Organize a Business Mastermind
Feed Your Mind Continually
Dont React to Life Respond
Celebrate Your Victories
Dont Take Defeat Personally
Look for Opportunities to Help Others
Practice Your Affirmations Daily
Make Success a Habit
Chapter 24
Do I Need a Lot of Capital to Become a Network Marketer?
Do I Need to Buy Products or Services Every Month?
Will I Need to Store Products and Then Deliver Them to My Customers?
Do I Have to Work FullTime to Make Money?
Network Marketing Isnt a Real Business Is It?
Is Network Marketing the Same as MultiLevel Marketing?
How Often Do I Have to Attend Meetings?
If My Spouse Isnt Involved in the Business Is That a Problem?
If Network Marketing Is a Global Phenomenon How Come I Rarely Hear About It in the Media?
Chapter 25
Find a Good Company and Join It
Get Involved with the Intent to Succeed
Be Selective about Your Upline
As Soon as Your Kit Arrives Contact Your Sponsor
Learn One Good LeadGenerating Technique and Use It
Learn How to Make Your Presentation
Make Your First Real Presentation with Your Sponsors Support
Commit to Share Your Business with Three or More People Daily
Attend All the Meetings You Can
Always Continue Learning So That You Can Improve Your Skills

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About the author (2001)

Zig Ziglar is a renowned motivational speaker. His training courses, tapes, and videos are hugely successful, and he has written many bestselling books. John P. Hayes, Ph.D., is a writer, speaker, and seminar leader.

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