Tips for Network Marketing
with Mathew Szantyr aka. 'The MLM Ninja'
I interviewed Mathew Szantyr on tips for network marketing – otherwise known as the ‘MLM Ninja’. I’ve heard of MLM, but not entirely sure of what it is and how to benefit.
** MLM = Multi-level marketing
What is network marketing?
Network Marketing, otherwise known as MLM, is simply a business model that allows an individual to market the parent company’s products for a percentage of the profits. What is unique about it is it also offers the opportunity to recruit others to do the same.
Those that choose to get involved become your “downline.” MLM compensation plans vary however you generate income by retailing products, recruiting others and from a percentage of the retail profits your downline generate as well.
As you can see…the potential is there to truly own your own business by both retailing products and building a team of distributors to do so as well.
What is the difference between MLM and illegal pyramid schemes?
First came MLM and then along came the pyramid scheme. The MLM business model quickly exploded into a multi-billion dollar industry but owning your own business is difficult. MLM is an opportunity to do so with very little financial investment but the level of success you attain will be determined by the level of work you put into it and of course how strong your business plan is.
Unfortunately not everyone is looking to start their own business and put the time and effort needed to succeed thus the birth of the pyramid scheme. The pyramid scheme was designed to look like MLM, the legitimate business model seeing so much success, thus the confusion.
The important variation being there is no product or actual business in the pyramid scheme. These scam artists ask for a sign-up fee, often of a significant amount, for the “opportunity” to recruit others to sign-up as well. They recruit recruiters but into what?
Legislation was passed to make the pyramid scheme illegal. In fact… it was the MLM industry that petitioned congress to pass these laws in the first place.
Is network marketing more effective than straight affiliate marketing?
The truth is statistically speaking they are both highly ineffective. Something like 97% of network marketers fails to achieve any success. The number one reason for this is failure to take action followed by taking all the wrong actions. For example…I often advise my prospects and down-line not to “sell” anyone on their opportunity. It’s a dis-service to them and to your business.
It costs way too much money to convince someone to start their own business if they are not interested never mind the fact that to be successful in network marketing you need to establish a successful downline. This means you need to find individuals truly interested in starting their own business.
It is a much smarter strategy to position yourself so those looking to get involved with MLM or start their own business can find you.
I have also read that something like 99% of affiliate marketers don’t succeed either. This comes back to what I said earlier… You absolutely must have a viable plan to succeed. Unless you have a background in marketing or find a strong mentor to coach you the odds of success are not good for either multi-level or affiliate marketing.
However with the right marketing plan both can be used effectively. In fact my personal business plan incorporates these along with many other monetizing strategies to diversify my income streams and what I coach my downline to do as well.
How do you get qualified individuals to market ‘beneath’ you?
Put yourself out there! With so many struggling to succeed in this industry the pool of potential clients is enormous. Especially in an economy like the one we find ourselves in today people are looking for ways to make more money. The industry is in desperate need of strong leaders.
It is important to recognize the fact that the market is flooded with great products and opportunities. If you jump into advertising either of them you are destined for failure. People are numb to them. Around every internet corner they are attacked with one pitch after another. Not to mention this is a highly competitive industry - getting involved in a multi-billion dollar industry means competing against big players.
So you need to market your expertise and what makes you unique. Forget your products, forget your opportunity and build your personal brand. Position yourself where your prospects can find you and then they will want to work with you. This is exactly what
The MLM Ninja
has done for me.
Which industries do you think network marketing works best in?
Trending data indicates the next big boom over the next ten years will be the health and wellness industries. MLM has always been closely associated with them anyway however with the right business plan and marketing strategy you really can capitalize on just about any legitimate MLM opportunity.
But again… big trends mean big competition. Any small business owner would be well advised to develop their business around a small niche. This holds true in MLM as well. So many people focus solely on their MLM products and opportunity but the ones that are successful focus on building their own businesses. By your own business I mean creating a presence on the Internet by building a niche theme based website.
For example you can compete in the health and wellness industry by focusing on a small segment of the population “corporate” wouldn’t even try because it is too small to waste their time with but you could make a lot of money off of. You could focus on divers, rock-climbers, urban-street runners and so on.
All of these people are extremely into fitness and would benefit from your MLM products. Therefore building a website tailored to one of these niches would give you an audience to promote your products to.
Why did you found The-MLM-Ninja.com?
The-MLM-Ninja.com is designed to support those currently involved with MLM but have struggled to see the success they had hoped for. Delivering training on everything from generating prospects, marketing your business, leadership and coaching your downline (once you have one) it prepares an individual to succeed in this industry.
It is also designed as a self-funded prospecting tool with multiple income steams to grow my business. It serves as a prototype for those who are looking to duplicate my results and of course…positions me where those serious about achieving their dreams can find me, contact me and work with me if they choose.
What are your top three newbies tips for network marketing?
1) Treat It Like a Business: You did not buy a business in a box regardless of what your upline told you. You can achieve MLM success however you must build your own business from scratch. Think of retailing your MLM products as just one component of a much larger business plan. If your MLM goes under tomorrow it should not end your business.
2) Capitalize on the Internet: What happens when you run out of friends, family and coworkers to pitch? You move from struggling salesperson with an opportunity pitch to Internet Business Owner! Unless of course you turn into an “internet advertiser with a pitch” but that won’t happen because you will build your business the right way.
Your Internet Business Model Should Be Focused On Content!
3) Education is Key: Devote yourself to learning and growing. Seek out experts in the field and learn everything you can from them. Don’t limit your education to MLM “Gurus” either. Diversify your education by focusing on internet marketing, copywriting, selling and so on.
Who do you look up to most in the network marketing industry?
& Ann Sieg are two true leaders in the industry. In fact I recommend their products on my site. Combining the insights of these two elite leaders with my own as revealed on my site and in The MLM Master Blueprint The MLM Master Blueprint
will position you well to start your network marketing journey.
For those unfamiliar with the works of Mike and Ann they truly are master level marketers. The insight they provide in how successful marketing works is truly enlightening. Although I use the very same methods my business plan varies slightly as it’s designed to require the absolute lowest financial investment possible.
I put my main focus on getting the core of your business built and getting into profit before moving into the realm of PPC advertising and other methods of growing your business.
What would you consider to be the single biggest reason for your success online?
Ken Evoy and SBI! without question. I don’t consider myself an “MLM Guru” by any means. I am an Online Business Consultant and MLM Success Coach by virtue of the fact that I am simply a MLM Sponsor who found a way to actually succeed in this industry. What I found was a mentor in Ken Evoy and all the tools and training I needed to build a successful business online.
I didn’t know anything about the Internet aside from being a user and didn’t know the first thing about building a website. SBI! Literally took me from complete novice to building a business that works. Using the power of the Internet to capitalize on the MLM has made all the difference for me and my business.
Thanks very much to Mathew for taking the time to answer our questions. Do take a look at his website and his The MLM Master Blueprint(a review will be on its way soon!) for more tips on network marketing.
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