Network Marketing and its Career Scope- Mindler Blog

Do you want to earn that extra income with flexible working hours? Want to leverage your networking skills and entrepreneurial abilities? Then, network marketing is your professional calling!
Network Marketing is also known as multi-level marketing, is a very fast-growing industry that has gained a lot of popularity over the recent years. With the digital world taking over, there are several marketing ways that have acquired significance and brought great results for businesses. Network marketing is also one such model that has emerged.  So, let’s deep dive into what network marketing is, what’s the career scope, and how you can pursue it. 
 
What is Network Marketing?
Network Marketing is a business model that involves person-to-person sales of the products or services in one’s network. This form of marketing is used by manufacturers and sellers with the prime motive to sell products. Individuals are required to promote and sell the products of the company in the network that they develop or create over time. These individuals can also be called sales representatives or distributors of the company. However, they are not actually the employees of a company. 
Today there are a number of network marketing companies that deal with businesses that want to sell their products. The marketing companies buy inventory from businesses, set up a pay cycle, and manage the various individuals who wish to work as network marketers. These companies train people who sign up, give them tips and advice, help them understand the product inside out, and then they are set to start selling. 
The network marketers talk to people in their network about the products and services that they are selling. By now you must be wondering how this is different from personal selling.
 
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Don’t worry! We will clear this very common myth of yours!
Network marketing is actually very different from outright face-to-face sales. Here you need to build the trust of people you are talking to through excellent communication skills. Only after you have built confidence and rapport will you be able to sell the product and get others interested in it. However, this is just half the work and not the real source of revenue.
After this, you need to get more people to sign up and join your network because this is where the real earning power of network marketing comes from. When you get people to sign up, you earn commission from the sales they make and people they get to sign up. This entire process assists you in building your network, earning revenue, and the company to sell its products. 
 
How To Pursue Network Marketing?
Network Marketing is a great way in which a number of companies are earning huge revenues. The investment that this marketing requires is low but the results that it gives are commendable. Not only does the company earn huge profits through the sale of their products but the network marketers also earn high amounts of money. 
It creates a structure that has no limitation while growth and prosperity to the company and all the people involved in distribution. 
You can pursue a career in network marketing and know how it benefits the business by pursuing management program or Marketing program. Both undergraduate and postgraduate programs offer network marketing as a part of the program. 
 
Things To Know Before You Get Into Network Marketing
1. Time
It is nowhere like your 9 to 5 job. You get the freedom to choose when and how you want to work, however, in order to make your career in network marketing successful, you need to decide on the amount of time that you are willing to invest. 
2. Dedication
You cannot inculcate the skills of a network marketer in a night. Here you learn as you go on which is why along with time, you also need to invest sincere efforts. Many professionals and experts in this domain follow the 1/3/5/7 formula. According to this, you will take 1 year to become a proficient network marketer, 3 years to make this part-time career your full-time career with consistent effort, 5 years to make 6-figure earnings, and 7 years to become an expert in network marketing. 
 
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3. About the Company
The time that you spend on research can never go to waste! So, take your time and research the companies that you can work with. Before you start working for a network marketing company, ensure that you know the size of the company, how long the company has been working, and the products they are selling and its quality
4. Know About the Products
Know the products that you are going to sell before you start selling because only then will you be able to sell more products and lure customers. Check if the products are consumable, good quality, and have a market. 
5. Compensation Plan
Each network marketing company provides its marketers with a detailed compensation plan. This enlists the promotional levels and how you can reach them, discounts, additional bonuses, the number of products that you need to purchase, etc.  Read this carefully, understand, and analyze if the goals and levels mentioned are realistic. 
 
Conclusion
A career in network marketing can be really interesting majorly because of the growth opportunities that each one can get and the benefits that are available. 
Want to know more about a career in network marketing and if you should pursue it? 
We have something exciting for you!
Mindler is a 360-degree career guidance platform that gives students the opportunity to find their true calling from the comfort of their homes. Take the Mindler online Career Assessment that assesses the students on 5 parameters and gives a detailed 34-page Career Report. 
The Career Report not only showcases the 5 best career matches but also presents a development plan for the students that can help them improve. 
To understand the career report in a better way and get guidance on how you can take up the career options, take Mindler’s Career Counselling Online with experts.