- I have an excellent knowledge of the network marketing industry
and am constantly on the lookout for opportunities and threats
that will affect my business so I can evaluate them and take appro-
priate action.
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To achieve real success in network marketing, you must become a
scholar of the industry. Study everything you can about your industry, the
markets you operate in, and especially the people who have achieved success
in them.
The development of a successful business strategy calls for you to iden-
tify just who your customers are and what markets to target. Where are your
best opportunities? A good way to clarify this is to ask these key questions:
- Who are my customers (including those who may be interested in my
business opportunity)? - What is my customer proposition?
- What do my ideal customers look for? What is important to them?
- Who are my competitors?
- Why should my customers do business with me?
- How can I add value for my potential customers?
- What niche markets can I penetrate?
When considering a market niche, perform a SWOT analysis to deter-
mine if it is a good one for you to enter. A SWOT analysis includes the
following:
Strengths:Identify and define your strengths.
Weaknesses:Identify your weaknesses and how they might affect you if
you entered this market.
Opportunities:Identify and learn about the opportunities that exist.
Threats:Identify and analyze threats to you in this market, such as
competitors.The case study of Don, seen next, provides a good example of what it
means to get acquainted with one’s market:
After 15 years as a computer consultant, Don understood the in-
dustry and the challenges faced by people who worked in it.34 THE ULTIMATE GUIDE TO NETWORK MARKETING