Are you looking to make money building a real business as a network marketing professional?
In episode 2 of SBN Tv, we have an amazing interview with Adewale Adebusoye, one of Nigeria’s top MLM Experts where we go into detail on his journey in Network marketing and what it takes to create success as a Network Marketing Professional!
In this episode, you will Learn:
– How to identify a pyramid scheme from a network marketing company
– What actually makes a network marketing company legitimate
– The advantages of starting a network marketing business
– The 1 crucial requirement to be successful in MLM. Without this you will struggle
– 2 things you are doing wrong in network marketing
Watch this video to learn what it takes to become a Network Marketing Professional
So I met Adewale while I was actively building a network marketing business some years ago, and we became very good friends. And while I have left that industry, I am still a very big advocate for network marketing as a viable home based business, especially for working professionals who want to create additional income on the side or go into business for themselves.
I hooked up with Adewale at his home in Lagos and we had a good discussion about how you can become a network marketing professional.
Here are some highlights from the interview.
Building a successful home business online is very possible. I have been doing it, Adewale has been doing it, and lots of other successful home based business entrepreneurs.
To succeed you must develop a sort of resilience and (whatever it takes) mentality to break through your obstacles, mental barriers and limiting beliefs to create the success you desire.
The question in business is not usually ‘if’ the obstacles/ challenges will come, it’s more of ‘when’ they will come and you have to be mentally prepared before hand.
Adewale was tired of job stress, everyday traffic rushing to and back from work and messy office politics and that was his encouragement to go into entrepreneurship with network marketing.
A lot of network marketers don’t invest in themselves by reading, studying successful people and generally building depth in their niche. Later in this interview, he talked about how network marketers need to become like a rock, stable, solid and confident in order to build a successful business.
Adewale hints on how Ray Higdon affected his business, especially with his course The 3-Minute Expert, which I recommended to him.
The Reputation of Network Marketing In Nigeria
He talked about how Network Marketing has been painted in a bad light in Nigeria, mainly because of the way most people have been doing it. Most people think of network marketing in the light of peddling products, carrying a box of supplements everywhere and begging people to buy.
But in the new economy, predicated on the globalization and access to people and networks that the internet offers, you do not need to do that anymore. Only amateurs beg and bug people to join their company.
Network Marketing Professionals know how to posture themselves such that people are drawn to them and not the other way round, and they also have mastered the art and science of communicating the value of their products/ company to the potential customers/ prospects in a way that shows how their problems can be solved by buying their product or joining their mlm team as a distributor.
You have tons of amateur network marketers spamming people on Facebook, begging and bugging their family and friends to join their company, and also the numerous ponzi schemes that have surfaced over time which mostly seem to disguise as network marketing companies.
Pyramid Scheme VS Network Marketing
Adewale shared the difference between pyramid schemes and legitimate network marketing companies. Pyramid Schemes have no tangible product that can be taken to market and exchanged for money as any real business does.
Real network marketing businesses are powered by sales of real products/ services.
Pyramid/ Ponzi schemes thrive only on a referral chain and doesn’t require selling products, and that’s why many lazy and greedy people flock to these programs rather than go through the process of building a solid and stable business.
Why you should start a Network Marketing Business
Network Marketing is a legitimate business model that offers great incentives and personal development opportunity.Almost every thought leader has endorsed the network marketing industry.From Steven Cover to Robert Kiyosaki (who says it is the Business of the 21st century), Warren Buffet (who owns Pampered Chef, a $1bn annual turnover network marketing company and claims it is his best value-for-dollar investment). Donald trump who has owned his own network marketing company, and Richard Branson has also owned a network marketing company in the past, Virgin Cosmetics, and has publicly endorsed network marketing.
Network Marketing is a very low startup and running cost business (no need for CAC Registration, legal hurdles and verifications, property setup or franchise costs) but with the potential upside in millions of dollars as a distributor.No other business model offers this kind of leverage at an affordable startup rate.If you want to open a franchise, for example Cold Stone Creamery or Domino’s Pizza, there is no guarantee of profit even when you are millions of naira down before starting and will take years to break even). In network marketing your start up costs are mostly in the N30,000 to N250,000 range which will usually cover your registration and distributor kit, and your running cost is your monthly auto-ship or product renewals, and training, transport and phone call bills.
Multiple Billion-dollar companies e.g. Amway, Avon, Herbal Life) being around for decades and are still going strong and paying hundreds of millions of dollars in commissions to distributors and representatives every year.
What it takes to become a Network Marketing Professional
Adewale shared on what he learnt from Jim Rohn, advising that when you want to
consider a new involvement or business opportunity, you should ask more ‘What am you becoming’ and less of ‘What are you getting’.
If you want something you’ve never had, you need to do something you’ve never done. You need to take massive action, sacrifice your leisure time, and practice delayed gratification in order to build a thriving network marketing business.
Only leaders make money in network marketing. The amount of personal development and leadership it takes to get to Top earner status is very intense and only committed people ever get there.
If you check any network marketing company, those at the top are leaders, who continually invest in their growth.
MLM Success can only be attained if you become a network marketing professional.
Some qualities of Network marketing leaders
Leaders invest in themselves
Leaders attend events
Leaders are resilient
People want to do business with people who can take them to their promised land, and for you to build a large team, you have to become a leader that can influence, motivate and train your downlines to build your organization.
I also added one my all time favourite words, Kaizen, a japanese word which means – Constant and never-ending improvement.
You may come into network marketing at skill level 2/10 but once you commit to consistent personal development, you get better over time.
3 things network marketers are doing wrong
1. Not having integrity.
A lot of mlmers either out ignorance or just selfish greed operate from a lack of integrity which hurts their business, their network and the entire industry.
Some fraudsters deceive prospects and take their money promising to register them, but just divert the funds and never get back to them. People also poach downlines of other leaders either from social media or at events.
Jumping companies in the name of multiple streams of income. You will struggle to create success if you suffer from the shiny object syndrome, which is that you see a new company with a new product or compensation plan, and then you abandon your company and dash off to the new one, and begin to encourage your downline to do the same.
Your stability a network marketing professional is very attractive, and you need to be consistent with a reputable company so that you can focus on developing yourself and your credibility in order to attract prospects.
2. Prospecting mistakes – Spamming on social media, amateur prospecting.
As a Network Marketing Professional, you must take responsibility for your results and learn how to prospect the right way.
People are not turned off my network marketing, they are turned off by network marketers – Ray Higdon
Don’t beg, bug, or pester people to join you. Be professional!
3. Not attending events/ training
Adewale talked about how he borrowed money to travel for his first event in Holland (talk about leadership), didn’t have money to stay in a hotel, so he just attended the event and boarded the next flight back home to Nigeria.
I also borrowed the N58,000 I used to start my network marketing business in 2012 and made about N100,000 money back in 2 weeks, was able to pay off the loan and keep some quick profits which I badly needed.
When I went for my very first company event, it was in South Africa. I hustled for the money because I didn’t have it (about N300,000 in total for flight, visa, hotel and training fee), came back and made the money back within 3 months. The events always pay for themselves when you get back provided you execute on what you were taught and leverage the energy and excitement of the event. Some other times, after going for an event I would make all the money back within one month of getting back to Nigeria.
The only people who succeed in network marketing are those who invest in personal development. In fact, statistics in the network marketing company I was in show that those who attend events were 10 times more likely to make money than those who didn’t attend network marketing events.
You too can be a network marketing professional.
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