In addition, restricting one's circle of friends and contacts, particularly for network marketers, significantly lowers the likelihood of success. On average, an individual is expected to know 250 people. Integrating the multiplier effect, this means a potential 62,500 contacts that offer much opportunities in terms of finding new clients, a new investment vehicle or major deals.
One way of building such a network is to greet a new acquaintance with the desire to know the person more, maintain contact and express willingness to assist if needed.
This approach helps whether the meeting is personal or online. However, a personal meeting is arguably more beneficial, as it helps one hone communication skills, especially in terms of starting and maintaining friendly conversation - a factor that would help one be remembered as someone nice and facilitate future business or casual meetings or any referral.
An individual involved with network or multi-level marketing would also benefit from having an adequate number of business cards on hand. For those keen on networking mainly from home or the office, or when they are free during weekends, a business networking community over the internet may be more ideal. These online groups often offer sub-networks focused on subjects matching one's interests.
This online link also allows one to view thousands of individual profiles and to prioritize arrangements with community members accordingly. Such a network can easily grow exponentially without affecting one's first or original circle of contacts, without much effort and practically at a minimum fee or free of charge.
When one is decided on business networking, he should avoid the normal tendency to do so in pursuit of personal gains. An individual should see the network as one that helps deliver gains for all members, at the convenience of all participants.
In addition, marketers should focus more on quality than quantity: a network of only 10 members who are committed to helping each other is more effective than a network with a thousand participants whose interests are not necessarily mutual.
Although some members may not be active on a regular basis, they should not be dropped just because of the inactivity. Some contacts who may not be helping as much as others still need to be respected - this is essential in building long-term relationships.
An effective networker attending a function should concentrate on establishing contact with a limited number of people at the event - focus should be on setting up a win/win situation where rapport with new acquaintances is developed.
This approach will allow both sides to meet again and find ways to mutually help each other. During this follow-up, listening to the other side is a must.
With the appropriate level of reciprocation, such a meeting will be followed by an exchange of referrals. A marketer should always express gratitude even for a single referral and attempt to work on the referral as soon as possible.
One way of building a network of referrals is by using 'feel-good', non-intrusive questions aimed at making another person feel comfortable. These questions are effective if they help build trust and confidence and promote the other's self-value.
Such questions include 'How did you begin your baked products business?', which encourage one's natural desire to relate his own story; or 'What activity do you enjoy doing the most?', which makes the other person feel important and remember the conversation as a positive one.
Ideally, an individual should first ask how he can help find referrals for the other person. This strategy would make the new prospect feel that his business will receive a boost from maintaining the relationship. The prospect would also feel that the individual is not a typical sales person keen on seeking opportunities to promote and sell his own product or service, making him more than happy and open to later reciprocate the assistance.
Practiced and observed with regularity, this positive and friendly but persuasive approach will help one grow a network of potentially endless referrals.
If you are serious about building a network marketing organization, you have to find methods that WORK. Too many organizations are built by the "blind leading the blind". Often, the "Big Dog" at the top is teaching methods that they didn't even use! In my quest for duplication, let me tell you, from sad and expensive experience, the six popular building methods that just don't work anymore:
1. Making a list of your friends and family. What other business uses this method? None. Can you even imagine opening up a furniture store and then inviting your friends and family as your only clientele? That would be absurd, and it's absurd in Network Marketing for the same reasons. Network Marketing is a high numbers game, and you will run out of "Friends and family" real quick if this is the method you rely on.
2. Passing out Magazines and DVD's. This is one of those strategies that is EXCELLENT for the corporation, but not as good for the distributor. Why? Because the distributor actually pays for the magazines, and gets them into the market place, then, long after the distributor is gone the magazines are still selling the company story! Meanwhile, getting one out of 100 may be lousy for the distributor, but if the company has 10,000 agents get just one distributor each, they're happy. Unfortunately, there are "exceptions to the rule" that get some signups, and the company flaunts them on stage. So the average distributor keeps doing it even though their own results are terrible.
3. 3-way calling. There are a few reasons why this one is a bad idea. First of all, very few people are capable of doing a good 3-way call, so it doesn't duplicate well. Secondly, it makes marketers dependent on their sponsor. And third, much of the time nobody is available to do the call, so you are left hanging and looking like an idiot because your prospect has to wait while you track leaders down.
4. Weekly meetings. Let's face it, they called it a "home based business" when you started, but you quickly discover it's a "car based business!" Most weekly meetings start with a bang, but end up over time with a bunch of professional meeting attenders. Guests just aren't motivated to go to what they already guess will be a staged "Ra-Ra" meeting.
5. Private business receptions (Home meetings). This one is bad for some of the same reasons that weekly meetings are, but this one has the added negative of putting the distributor in "sales mode", and having them close their friends and family on the business. It doesn't duplicate well, and even when done properly it's too easy to have a lousy turn out, with few if any guests. It's also very difficult to duplicate as a system.
6. The "3-foot rule". Have you heard of this one? If you are within three feet of somebody you need to talk to them about your business? Again, it sounds good when the big dog says it from stage, but most people just aren't going to do it. Back to analogy number one, if you had any OTHER type of business, would you use this as a way of getting customers or sales people? Maybe as an exception, but never as a rule.
The bottom line is this: real businesses use real marketing and advertising techniques, and so should you. Unlike traditional businesses, in Network Marketing you don't start at the bottom and work up, you start at the top and work down. From day one, you are President, CEO, and Chief Bottle Washer of your own Network Marketing organization.
So instead of making a list of friends and family, start advertising your business and attracting qualified, interested prospects.
Instead of passing out DVD's, put your presentation online. That way it gets unlimited views, is available everywhere 24/7, and will save you a ton of money.
Rather than relying on 3-way calls, become the expert yourself. Don't make your business success dependent on anybody else. Introduce people to your sponsor AFTER they join!
Instead of weekly meetings and PBR's, become a master of online prospecting and develop a web-based system that easily duplicates for all of your team.
And lastly, substitute the old three foot rule for the new three foot rule: if you are online, you are three feet from over a BILLION people.
Once you master these methods, your business will be easeir, more fun, and will duplicate faster and better than any team that's dependent on the old methods!
Dave Sherwin has sinced written about articles on various topics from Internet Marketing, Network Marketing and Marketing. Dave Sherwin is a Network Marketer who won the "Rookie of the Year"award in a large international company in 2006. He is the co-author of "Lighthouse Marketing", The Art And Science Of Attracting People Into your Network Marketing Organization. Learn the. Dave Sherwin's top article generates over 40500 views. to your Favourites.