Network marketing is essentially business building. Yes you do not own the company and the product, but you do own the network and the profits that come from it, and isn’t that what business building is all about? Now for those who have been at the network marketing business long enough (network marketing has been here for a long time), you are familiar with the truth that there are two schools of business building – the old school and the new school of business building.
How do you characterize old school business building? Well, basically it was around the 80′s – the era when a large number of networkers were told that the best techniques in business building was by creating a 100-200 names list of their warm market. Your warm market is your network of friends and family. Another characteristic business building using old school rules is to use person-to-person business building methods such as holding seminars and inviting people to an informal gathering where you can present your product. Old school business building does work, albeit slowly.
Now, how do you characterize new school business building? The new school of business building came when the Internet became a major force in international business. When the bandwidth and Internet penetration reached critical mass, business building through online marketing became the way to go. Using the new school of business building through the Internet, there’s really NO need to ever leave your home to build a large organization.
Before proceeding further, let us reiterate – there is absolutely NOTHING wrong with either of these business building approaches. To help you decide which approach to take, here are some pros and cons of each of the two schools of thought.
Old School business building Pros and Cons
Using the old-school business building, you are able to start out quickly as you have a built-in warm market that will be receptive to your offerings. However you run the risk of being part to the NFL or the No Friends/Family Left if they fail at the endeavor. Belly to belly marketing will allow you to get a more personal feel for your prospects, and though you get to explain it better and stand a better chance of signing them up, you do so only at a slow pace.
New School business building Pros and Cons
Using the new school of business building, you get to reach a wider set of people, and these people are tech savvy already, as they are familiar with the ins and outs of the net. You don’t have to teach them much about using the Internet, as they know how to do that already. E-mail broadcasting will also net you lots more prospects and you get to stay in the comfort of your own home. However, it is less personal than the old school business building.