Have you ever stopped to think about something you wanted to buy? Did you ask yourself, ‘is that product worth the money I’m about to spend?’
What does that introspective thought mean? You see, people simply don’t like spending more money on things that don’t hold a value that ‘matches’ its perceived price. The value of anything, in fact, drives its overall perception in this world.
Cheap things are cheap since their overall value is perceived as low—even when their quality isn’t. On the other hand, expensive items hold high value, but might not be truly worth the price. With value placed on many products and services, it’s no wonder the concept is invaluable to businesses.
Why is value invaluable for an MLM Network Marketing business? It’s simple—people can’t succeed in business without fostering some type of value in the things they do, create and sell to people. That type of value is what contributes to business success in the first place.
There are actually three simple ways to create value in your business to make more money—and it involves understanding, fostering and developing your business.
Understanding value and money
Value means the ‘importance of something,’ or more commonly, the estimate of something’s monetary worth. Business commerce revolves around the latter definition since value helps earn money. You, too, can potentially earn more money for your products and/or services—as long as you make your customers see value in what you do.
If you can foster more value in your MLM Network Marketing business, you will reap rewards over time. Fostering value for your business is the key to achieving success after launching your business—or it might not take off at all.
The four pillars of fostering value
Creating some kind of value in your MLM Network Marketing business starts with four steps. To break it down, these steps are relevancy, efficacy, leverage, and trust.
- Relevancy involves finding out the relevance of your actions, products and/or services within your targeted market. Just ask yourself, ‘is what I’m doing, creating or selling, actually beneficial to my market and my business?’
- Efficacy involves finding out if your products and/or services actually resolve problems within your target market. If you don’t test your market to see how your stuff works against an audience, how are people going to benefit from your efforts?
- Leverage involves finding out the reach of your business across your target market and finding out how far that reach can extend. Marketing and recruiting are a big part of exercising leverage, so don’t forget to use that well.
- Trust involves, well, making your targeted market actually trust your products, services and even yourself. Without trust, your market wouldn’t even respond to you, making fostering healthy consumer relationships important from the beginning.
Developing your business’ value
There’s no secret formula to developing value in your business to make more money. Just a lot of trial and error—and a lot of hard work. You can, however, get started using these quick tips.
Educating yourself. Without educating yourself with your target market, you won’t be able to figure out how to approach that same market. Researching helps you learn more about your market, allowing you to apply your skills and benefit your business’ value.
Put your skills at work. People aren’t going to come to you—you have to make them want to come. Try split test marketing, try interacting with your audience, just to make your business seem like it’s worth something.
Act like your company is a billion-dollar corporation. People don’t believe something’s expensive until they believe something’s expensive—treat your business in the same way.
Now it’s your turn!
Please share with me how you have been able to perceive value in your market with the products and services that you offer. I look forward to reading them!
The internet offers advantages that brick and mortar shop doesn’t. You can act like your company is a billion dollar corporation. If you have a website that can grab your audience, they have no idea what the size of your company. People in business want to feel that they are working with someone that has a big presence..I have over 15,000 products on my website and my target market is corporations that buy my products to promote their companies. They come because they feel comfortable with the size, they come back because they got good service.
I enjoyed your article. Have a good week
Love it! You’re exactly right, the only overhead is your website. You get to work from home and you can also outsource if needed. Yes, you are definitely a prime example of it. Thank you so much for the comments!
Awesome post Nate on creating more value……the more value you create, the more money you will make….simple!! Thank you for sharing!!!
Love it Nate! I treat my blogs like billion dollar pieces of real estate. Really lol….posting 25 to 30 times daily, short and punchy, energetic, valuable videos, and of course, it is because I hold a similar self image.
When you create insane value, insane value flows back to you in many forms, including money.
Educate, practice, educate, practice.
Thanks for sharing!
Exactly, Ryan. Educate, practice, educate, practice. Love how you said that. Thanks for the feedback!
Nate, I know I can always learn something new when I visit your blog. Thank you so much for sharing your knowledge. 🙂
Thanks Stefani! Glad to see you’re getting value. Thank you so much for the comments. 🙂
Act as if. You are the CEO of your company…. are you treating it like one? There are 10,000 people looking for your message right now. Will you get in front of them?
Exactly. Well said Matt!
I so agree with all that you wrote, even though I am nowhere near any kind of marketing niche 🙂
Yes indeed, when you learn to value anything, whether in your personal or professional life, you will make more from it, whether it’s money or goodwill, which depends on what you are really targeting. Speaking in monetary sense, the more value you create, the more money you will make.
But as you rightly mentioned, for that you need to educate yourself and follow the right path too. Use your skills as you mentioned, or practice till you are perfect, and yes – treat your business, work, or blog like it is the end and start of all 🙂
Thanks for sharing. Have a nice week ahead 🙂
Yes, I agree learning to value applies to all areas of life, not just business. The value that we learn, we can then take that and share with the world. I believe that money is energy and value created is value received. It’s an even exchange all around us.
In order to give value, we do have to educate ourselves first and that’s the most important aspect to giving value.
Awesome feedback Harleena! Love it!
Great post on Value. Thanks Nate! Some things to chew on!
Awesome. Great ideas to implement as well! Thanks Katrina!
I like when you said “People aren’t going to come to you – you have to make them want to come.” This couldn’t be any more truer.
In order to do this, you must study your audience. Find out what they want. What are they struggling with? Interact with them often. In order for you to pass the test, you have to do your homework.
If your audience feel that you are making every effort to help them, then you will get more of the responses you want. This is true value!
Thanks for the reminder Nate!
Yes, we must learn how our audience thinks. Once we are able to speak their “language” the value perceived is the money received. Value for value is what happens in this case. People in this world, most people that is naturally want to help others. It’s part of our human DNA. You’re right, if people feel that you are going out of your way to help, they will respond. I agree with you there! Thanks for the comments Sherman!
Great post, Nate. I like you say at the end of your post that we should act as if the company is a billion dollar company. This is great advice because there is definitely the potential of taking one’s business to billion dollar status. All it takes is an idea. I was listening to a YouTube video by Bishop T.D. Jakes this morning and he talked about how we’re just one idea away from millions or dollars and even billions of dollars. It’s all in the mind.
Thanks for sharing!
Awesome feedback. Thanks Etieno!
Value is a key concept for a business. How you value yourself and your business comes through in ‘how’ you do business.
I’m glad you included the concepts for developing your value because it can be a process.
But overall, understanding what value you bring to the business, what value your business can bring to your customers and helping them realize that value, is a big component of your success.
Yes, whatever value you bring into the marketplace is what you get out of it. Value for value exchanged. When your customers see value they will buy no matter what. No need to pitch or try to “get” them. Value itself if presented correctly will sell in itself. Thanks for the comments Liz!
Well first as you mentioned, it’s about developing relationships with people so that they trust you. That is a large part of marketing. Once trust comes, it is a bit easier to foster that relationship. I do that on a regular basis interacting and developing relationships all around.
I find helping people find the value by reaching out and providing that value to them. One way that has worked well with me is sampling and sharing the products to the target market. That has worked best for me.
And that’s where efficacy comes in. In sharing, they see an immediate value in what they want or need. Works well every time (particularly if you actually have good products)!.
As a network marketer myself, I value your input on creating more value. It is critical in this business to be able to do so.
Thanks for the info. Excellent tips and great job!
Trust is so important in our profession. Building upon that trust is how great relationships are formed. I interact with people on a regular basis, no matter if they are in my business or not, or if it’s someone I’m meeting for the first time while I’m out and about. It all goes back to you and that’s why people can feel if you are genuine or not.
Creating value is important and I believe that so many people need to our help and some more than others. It’s something that I’m very passionate about and will continue to share.
Thanks for coming here and sharing your input!
Value..that is so important to think about when providing services and/or products. You have to feel the worth of it deep inside you. It is a part of you. When you have reached that, you are really “walking the walk.” This is how one can build trust in relationships.
Funny thing about people..they can sense if you stand by your product or services or not. Relationship building is great, but then we have to think about effective marketing.
I think it goes beyond our strategic planning. We can do all the marketing techniques we learn, but we always have to give our clients/customers what they need. From teaching them, to helping them along so they can benefit.
Yes I agree. Whatever it is that we’re passionate about we must feel for what it’s worth inside. People do see if you are just a person looking to make the quick buck versus someone who cares and wants to help you solve your problems. Yes, it does go beyond any strategic planning, marketing strategies, or any ninja tricks. The value and relationships will always win no matter what. Love your feedback Donna!
Thanks Nate – I must confess that I have not been treating my business like a million dollar corporation, talk less of a billion dollars but you got me thinking for sure! Not only about my new website but about my other endeavours. Thanks.
One way I add value to my product is to give excellent customer service. I treat my clients as though they paid a million dollars.
Glad to have you here. It’s always exciting to see a new face!
Yes, it’s all about the growth and the personal development that we go through. I remember I never treated it like a multi-million dollar corporation but you learn as you go on when you start to understand the business.
You pointed out something that’s very important and that is treating your clients as if they paid you a million dollars. That’s a great perspective to have.
I’m glad that you landed on my page and feel free to stop by again soon! 🙂
Nate, I love the way you always just break you posts down into manageable lists/chunks of information that are easy to digest.
Absolutely, I’m honored to have you as one of my recurring visitors. Thanks for the support and comments!
I believe that educating one self has two advantages. It helps build your value as a person, as you acquire more knowledge and skills so that people begin to look up to you and begin to respect you.
The other reason as you have mentioned, is to understand one’s target market better. It helps one to understand the pains, the hot buttons and the wants of the people they wish to target.
If you do not relate to your target market, you will not understand the language they speak, the lingo they use. The better one is able to understand that, the easier it is to connect with your target market at a faster and deeper level.
That is what we want to achieve in this industry, to achieve the “trust” factor at the shortest possible period.
The 4 pillars of fostering value is something new to me, and I find it very true. This 4 steps are crucial if one wants to establish a business with a strong foundation.
Thanks for the post once again bro!