Network Marketing, also known as Multi-Level Marketing (MLM) is one of the most misunderstood industries in Nigeria and in the world as a whole. The mere mention of Network marketing is enough to send some people scurrying away as they recall someone who might have gotten involved and not made anything significant.
But is Network Marketing that bad? Forbes magazine stated how most Americans are not turning to Network Marketing as a way to start up a business part time, and earn a side income. People like Robert Kiyosaki, Author of “Rich Dad, Poor Dad” and “Business Of the 21st Century” have touted Network Marketing as a way to get real life business skills and training. Almost every major thought leader from Les Brown, to Brian Tracy has endorsed the Network Marketing industry, and companies like Amway are listed on the USA stock exchange and do billions of dollars in revenue.
So why is Network Marketing In Nigeria not getting the respect and credibility it deserves? I believe it’s a lack of education and open mindedness. So in this article, I will be sharing 5 key secrets, which can help you succeed in Network Marketing In Nigeria.
1) Learn To Differentiate A Legitimate Network Marketing Company vs a Pyramid Scheme-
The reason most Nigerians do not succeed in MLM is they do not make this important distinction between Legit Network Marketing company and a pyramid scheme. Network Marketing is designed to move products and services directly from the parent company to the end user, and that is why it is also known as direct sales.
In a pyramid scheme, no product or service is moved. Money that flows in a pyramid is based on just recruiting alone. So if you see a program where they say, bring one person and you earn X amount, and there’s no tangible product, I suggest you run. For more information on how to identify Pyramid Schemes, click here.
2) Join a solid company that has been around for at least 2 years plus, has a solid product and physical offices in Nigeria
It is risky joining a company when it is just starting because most start up companies fail within their first 1-2 years. A company that has in business for 2 years plus is likely to be around more. Also, make sure the company has a tangible product, which is consumable (so reorders can come in, which will give you residual income), and they have offices in Nigeria where you can meet actual people.
I heard a funny story about some people who were supposedly doing a “Network Marketing” business online. They were told it was a pyramid and not a legit MLM company, but refused to listen. One day, they went to the site and it was shut down. No way to hold the company accountable. So do not make the same mistake. Join an MLM that has a physical product and offices you can visit in Nigeria.
3) Get A Good Mentor
Find a good mentor who has either gotten the results you want in Network Marketing, or who has a vision and is working towards it, and work with that person.
The mentor might not necessarily be who brought you into the business, but your success in your business is not dependent on your sponsor. If you want success, find people who have gotten what you want and model their actions, beliefs and mindset.
4) Set The Right Expectations And Do The Work
Another reason Network Marketing In Nigeria has gotten a bad name is due to the fact that some people have unrealistic expectations. A lot of people believe that the MLM industry is a get rich quick scheme, where you can become an overnight millionaire.
The thing is that MLM is a 3-5 year career with skills to learn. Some of you will have to learn how to be leaders and how to switch from the employee mindset to that of an entrepreneur, which might take time. Since some are too used to having instant gratification or “quick” money, they quit at the first sign of hardness and claim MLM in Nigeria does not work. A mentor of mine would say, its Net-Work marketing, not Net-Wish or Net-Hope Marketing. Work is required to be done and this business works if you work it.
5) Embrace Knowledge and personal development.
When I am in the field, I come across Nigerians and people who want to experience success in Network Marketing without doing any form of personal development. It won’t work. They somehow believe that they can success without books, or any form of training.
Every top earner in Network Marketing worked on themselves and invested in themselves by buying books, audio programs and even coaching, in other to become better people and leaders.
Only leaders make big money in Network Marketing, and if you do not develop yourself and do the personal development needed, you will not attract the right people to you who will help you build a business.
I am sure if you embrace these 5 keys that you will be well on your way to becoming successful in Network Marketing in Nigeria.
You can check out more Resources On MLM In Nigeria on my blog.