MLM - The Multi-Level Marketing Home Business ..... Is It Right For You?
Have you looked into the MLM home business and considered the possibility of starting one yourself?
Are you worried because you started in this type of business and have been disappointed because you were not making the money you were expecting to?
There is so much information and 'make money now' business offers out there it's hard to figure out what direction you should take.
Before making any decisions about multi-level marketing or pursuing any of the business opportunities out there, it's important to first understand what it is and what it takes to make it successful.
Multi-level marketing is often called Network Marketing. Basically, it's a business distribution model that allows a parent company to market its products directly to consumers by means of relationship referrals and direct selling. Owners of independent network marketing businesses make money by selling product directly to consumers and through their 'downline' - other marketers that join under them.
Legitimate MLM businesses are not to be confused with pyramid or ponzi schemes.
Marketing your home business through this type of home business model does work and there are many companies that are successful in this area.
Why are so many people starting MLM businesses?
- Low start-up costs - All you need to start is an idea, energy, and commitment while a traditional 'brick and mortar' business requires significant start-up capital for office space, rent, equipment, insurance, employees, etc.
- Ability to work from home - Working in your home rather than commuting to an office is a tremendous benefit. You can save money on clothing, lunch, and of course, gas for your car or the fare for the bus or train. More importantly, you can see your family. Provided you choose the right opportunity, you may also get something we all desire, flexibility.
- No inventory to maintain - If you started a traditional business model most likely you would need to purchase and maintain inventory. Maintaining inventory affects your cash flow since most of the time the inventory needs to be purchased before it is sold. Said differently, you need to spend money before you make money.
- Free training - A traditional business owner would have to train in their field of expertise and continue to spend money to stay current and train their employees. If you are part of a network marketing group the upline (those who joined before you) and the company you are representing provide you with their first hand experiences and marketing materials that have already made them successful.
- Extra income - The ability to earn extra income to help pay the bills or perhaps for the family vacation and all from the comfort of your own home.
- Residual income - a main benefit of a network marketing business is something called residual income. Simply said, you make money from the people that joined after you (your downline). In a way, its like pollenation, but instead of the bee spreading pollen that creates more flowers, your downline spreads and grows your business and the flowers that grow is money for you.
So if there are so many positive reasons to join an MLM opportunity why is there such a low success rate?
There are so many people that are looking for the 'get rich quick' opportunity, but the hard fact is - it's often too good to be true. Network marketing opportunities can be tremendously rewarding but like most things worth while, they do require your time and effort.
To be successful, you need to enter into the MLM home based business with the following expectations:
- MLM is going to be a business, not a hobby. You will need to be committed to making your home based business work.
- Learn early on that hope is not a strategy. You must take action and adjust when things don't work exactly as planned the first time.
- Identify and learn about the product so you can be the expert. Real enthusiasm for your business and product often comes from first hand knowledge. Purchase your product monthly so you can speak honestly and truthfully about the product you are selling.
- You will have to speak with many people, as not everyone is going to purchase your product or feel the same way about your business.
- It will take time to build your business and downline. You will need to be patient and work hard.
- You will need to promote your product through free or possibly paid advertising methods.
I mentioned showing "real enthusiasm" for your business and I want to talk more about this point because you need to sell yourself to your prospect in order for them to believe in you and your product. You want to be viewed as the expert. You will come across people who aren't interested. Maintaining a positive attitude and being self confident will help you meet your goals. If you're looking for a way to help yourself build greater self confidence and work on your own personal development you can find help on one of my favorite
self help websites.
The selfhelpcollective.com teaches you how to communicate more effectively, keep a positive attitude and maintain your self confidence. All attributes that a skilled business owner should have.
If you believe that you are ready to start owing your own MLM business and are looking for a real opportunity. Please go to my contact me page and let me know your thoughts. We can discuss the businesses I am involved in or even how I built my own website to generate more online business.
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