In network marketing, substantial wealth is created only after you have achieved momentum. This momentum can be thought of as very similar to the doubling effect of compound interest.
Compound interest is “interest which is calculated not only on the initial principal but also the accumulated interest of prior periods.” In the case of your network marketing efforts, your initial principal is your initial effort. Your accumulated interest is that of your sponsors, who, with your proper coaching, carry on your efforts to effectively set your momentum in motion.
Your sponsors follow your lead by growing your downline and finding new sponsors who in turn do the same. This has surprising and remarkable results. This creates a doubling effect that once in place grows your business at a phenomenal rate. No longer can your efforts possibly keep pace with the actions of so many who all contribute to your own downline?
The momentum all starts by putting it in motion with your actions. Unfortunately, try asking up to 90% of the people who attempt network marketing how they are doing. You are more than likely to hear some negative replies. The reason is simple – they did not set things in motion.
Getting your network marketing business rolling is no mystery. It takes you and your positive dedication to move things forward. It also takes your planning. This is accomplished first by establishing your goals for your business. Determine what your ideal vision of the future would be, and move toward it with optimistic expectations.
The next step for realizing your network marketing success is mapping out your plan for success. This is where you determine the most effective use of your time and energy. Figure out what money if any should be spent on your business marketing and expenses. Most importantly, set time aside to market your business each day.
A frequently overlooked step by many who attempt to succeed at network marketing is devoting time to you. Your continued education is vital to your success. Your newfound knowledge will enable you to adapt to changes and focus on the things that really work.
Personal development will lead to the development of your sponsors, the key to your long-term success. Your sponsors need a team leader who has high energy, is motivated, and knowledgeable. It is important that you nurture your sponsors into an extension of you. Only then will your dream of network marketing momentum be fulfilled.