The Key to Rapid Growth in Network Marketing or MLM is Duplication
The Key to Rapid Growth in Network Marketing or MLM is Duplication
Network Marketing or Franchise
Network marketing or MLM is similar, in that a business model is developed, either a product or a service and a compensation plan is put together for the business owners. The chief differences between franchising and network marketing or MLM are:
1.The network marketing business owner not only has products and services which they can promote and sell, they also have the ability to set up other network marketing business owners.
2.Depending on the compensation plan, the business owner will also have the ability to make revenue from the efforts of his ‘sponsored’ network marketing business owners. That is, if those they sponsor go on to sponsor other business owners, the original network marketer will usually benefit.
3.In the MLM business, start up costs are generally much, much lower. The franchise is usually a relatively expensive business to start as a franchisee, not only that, the franchisee does not have the ability to set up other franchisees.
Caveats
There are indeed a few caveats, each Network Marketing Business is different, they are governed by rules and regulations, each will have their own compensation plan. All of these factors should be considered before deciding or committing to any opportunity.
A Common Trait
There is a common trait which runs through all massively and even moderately successful Network Marketers, they have all applied this very simple principle. The principle they have applied is that of ‘duplication’. Duplication is an absolute corner stone of success in Network Marketing and MLM. I will even go so far as to say that if the network marketing business does not posses the ability to duplicate their efforts, business is doomed to failure!
Your Success Depends on This
Fortunately, duplication is one of the first principles that any successful leader in the MLM industry will teach to their organisation. After all, another key success principle in MLM is that in order to succeed, you absolutely must help others to succeed first.
A Working Example
I would like to share a working example of duplication in action. Any active network marketing business owner will be faced with this at some point in their career, so let set the scene.
The network marketer contacts one of their prospects to discuss the idea of the prospect becoming a network marketing business owner, the prospect responds with “Yes, that sounds great, but, are you making any money?”
How should the network marketer respond to this question?
You will notice that we don’t know if the network marketer in this example is incredibly successful or if they are brand new to the business. In either case, the response is critical, and in either case it should be the same. You see, we teach by doing. In MLM people will need to be able to duplicate your efforts.
So, the wrong response would be “Yes, I’m making xxx thousand a month and it’s great, you should look at it!” Why is this wrong? Quite simply, it cannot be duplicated. The new network marketer will not be able to say this to their prospects, at least not honestly.
The correct response would be “My upline team are incredibly successful, they have developed large organisations and we are working together to find more like minded people to work with” Why is this correct? Again, very simple, it can easily be duplicated! The new network marketer can use this exact same technique in their business.
This is just one working example, there are many, many situations where duplication and the ability to duplicate need to be considered. The principle of duplication must be taught very early on in the network marketing business owner’s career if they are to succeed and achieve and experience rapid growth in their organisation
In Summary
The key to success in network marketing and MLM is duplication, it is also in the ability to teach duplication. Teaching this principle early on will help your organisation grow and duplicate rapidly. Helping others to become successful in this technique is a cornerstone of building large network marketing organisations.
The Key to Rapid Growth in Network Marketing or MLM is Duplication - To learn more about this author, visit Ian Taylor's Website.
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Network Marketing or MLM businesses are effectively organisations or networks of people who are all building the same business. It is very similar in principle to the ‘franchise’ principle. That is to say that in franchising, the franchisor develops a business model, be it product or service based, and he (or she) figures out how to make it work, they put in place a ‘system’ or ‘success formula’ that a franchisee is able to duplicate or copy, therefore guaranteeing success. At least, that’s the principle. We all know there are many other factors which come into play in the franchised business arena such as the requirement for a degree of business acumen, financial planning, management and of course, people skills.
Network Marketing or Franchise
Network marketing or MLM is similar, in that a business model is developed, either a product or a service and a compensation plan is put together for the business owners. The chief differences between franchising and network marketing or MLM are:
1.The network marketing business owner not only has products and services which they can promote and sell, they also have the ability to set up other network marketing business owners.
2.Depending on the compensation plan, the business owner will also have the ability to make revenue from the efforts of his ‘sponsored’ network marketing business owners. That is, if those they sponsor go on to sponsor other business owners, the original network marketer will usually benefit.
3.In the MLM business, start up costs are generally much, much lower. The franchise is usually a relatively expensive business to start as a franchisee, not only that, the franchisee does not have the ability to set up other franchisees.
Caveats
There are indeed a few caveats, each Network Marketing Business is different, they are governed by rules and regulations, each will have their own compensation plan. All of these factors should be considered before deciding or committing to any opportunity.
A Common Trait
There is a common trait which runs through all massively and even moderately successful Network Marketers, they have all applied this very simple principle. The principle they have applied is that of ‘duplication’. Duplication is an absolute corner stone of success in Network Marketing and MLM. I will even go so far as to say that if the network marketing business does not posses the ability to duplicate their efforts, business is doomed to failure!
Your Success Depends on This
Fortunately, duplication is one of the first principles that any successful leader in the MLM industry will teach to their organisation. After all, another key success principle in MLM is that in order to succeed, you absolutely must help others to succeed first.
A Working Example
I would like to share a working example of duplication in action. Any active network marketing business owner will be faced with this at some point in their career, so let set the scene.
The network marketer contacts one of their prospects to discuss the idea of the prospect becoming a network marketing business owner, the prospect responds with “Yes, that sounds great, but, are you making any money?”
How should the network marketer respond to this question?
You will notice that we don’t know if the network marketer in this example is incredibly successful or if they are brand new to the business. In either case, the response is critical, and in either case it should be the same. You see, we teach by doing. In MLM people will need to be able to duplicate your efforts.
So, the wrong response would be “Yes, I’m making xxx thousand a month and it’s great, you should look at it!” Why is this wrong? Quite simply, it cannot be duplicated. The new network marketer will not be able to say this to their prospects, at least not honestly.
The correct response would be “My upline team are incredibly successful, they have developed large organisations and we are working together to find more like minded people to work with” Why is this correct? Again, very simple, it can easily be duplicated! The new network marketer can use this exact same technique in their business.
This is just one working example, there are many, many situations where duplication and the ability to duplicate need to be considered. The principle of duplication must be taught very early on in the network marketing business owner’s career if they are to succeed and achieve and experience rapid growth in their organisation
In Summary
The key to success in network marketing and MLM is duplication, it is also in the ability to teach duplication. Teaching this principle early on will help your organisation grow and duplicate rapidly. Helping others to become successful in this technique is a cornerstone of building large network marketing organisations.
The Key to Rapid Growth in Network Marketing or MLM is Duplication - To learn more about this author, visit Ian Taylor's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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