How to Start a Networking Business Online
Networking Business or Multi-Level Marketing (MLM) is very easy and cost effective to set up online provided one has the correct motivation, knowledge and guidance.
After you have decided on the product that you would be selling for example home based products like cleaners or cosmetics etc. and fixed the deal with a wholesaler for the supplying of those products, you now need to direct your attention towards building your online Networking Business.
Build an Online Identity
To start with your business online, you have to have a website of your own. But before you can do that, you need a domain name. You can use your personal identity like for example in case of marykaycosmetics.com or use the name of your marketing group or team like prosperitygroup.com or something catchy and alluring like makemoneytoday.com. Check for its availability and register your domain name.
Get a Web Hosting Service
There many low-costing web hosting services available online. You can buy any of them and start building your site. You can design it yourself, hire a professional designer or make use of the readymade templates available on your host.
Your website should essentially include the following features.
Information about your company, products and opportunities
A system of ordering your product and registering to operate a business
Transactions and payment modes
Information about training and your support team
A list of advantages of joining your company and your team
The offer of a free e-book, document or newsletter if the user gives you his name and a valid e-mail
An auto-responder that can send follow-up e-mails and newsletters to anyone who gives his contact information
Market your website
After you have set up your website and got it running, you need to market it. You can do this in many ways.
Paid banner advertising
Article writing containing link to your website
Participation in forums and newsgroups
Build a Database of Prospects
Keep a database of all your prospects utilizing either Outlook’s Contact Manager or your own built up database manager. It should contain all the details of your prospects like name, e-mail id, address, contact number and also a section for writing your comments.
Follow-up on Your Prospects
Once you have them in your database you need to build a rapport with your prospects in order to get their business and join them into your networking business. Send them n e-mail and move them towards a phone call. If they agree on a talk with you on phone, chances are they will join you in your business.
Determine the Payment Channels
If you want to sell your products and earn in return and also pay commissions to your down-in-the-line business executives, you of course need to have a clear transaction channel. You can set up various payment channels online like PayPal, NEFT etc.
Develop an Effective Product Deliverance System
Now that you have set up your website and formed a network for your Online Networking Business you need to concentrate on the very reason for its building- selling products. You need to have an efficient system to get orders and deliver the products in the set time limit. The packaging, logo etc. should also be given proper thought.