Whether it is extra income you seek or a chance to see how far you can fly as an entrepreneur, becoming an independent distributor for a multi-level marketing (MLM) company is a viable option. MLMs, often referred to as network marketing or direct sales, provide a proven product, marketing plan, mentorship, and training and support. It's a business in a box that supplies everything you need to get started ASAP.
MLM success; however, isn't automatic or necessarily easy. One mistake many new network marketers make is in not treating their new venture as the business it is. Just because MLM businesses come pre-made with a product or service, a plan, and support, doesn't mean it will run itself.
Here are some important resources for you to check out regarding networking marketing, including common myths and mistakes, tips for success, how to avoid scams, and more.
Many people avoid MLM based misinformation. Legitimate MLMs are not illegal pyramid schemes and don't require you to "use" or hassle people. Anyone can be a success no matter where they are in the network and saturation is impossible.
While there are some issues in network marketing, before ruling it out as a home business option, make sure you're not letting one of these myths cloud your judgment.
One big problem of MLM is how it's surrounded by so much hype. While companies try to temper their reps' enthusiasm, too often the programs are promoted in a way that suggests you make big money fast with little effort.
The reality of MLM is that big money is rare. That's not to say that it's not a viable way to make money from home, but it's not automatic nor easy. With solid advice and elbow grease, you can beat the odds and achieve success.
The MLM industry, like most other industries involving money, has its share of scams and schemes. Some make their money by forcing reps to have an inventory (a practice the FTC has worked to put the kibosh on).
Others are outright illegal pyramid schemes, that focus on recruitment, not product (pyramid schemes are seen in financial products, as well).
In order to avoid getting sucked into a less-than-legit sales opportunity, consider these signs it may be a scam.
Success in an MLM business starts by choosing the right product and company and then treating your business as a business. Like any other business, it requires work to find customers and make sales, as well as building a team of home business owners.
MLM businesses have one of the highest failure rates in the small business industry. To help give you a leg up on profitability and longevity, consider these ten helpful MLM success tips.
The stats in MLM aren't inspiring, and yet, many people achieve their goals and some big success in network marketing. There's no reason you can't be a success if you do the work that needs to be done.
Here are 12 things you can do to ensure your success and achieve your home business goals in network marketing.
While success is automatic, failure isn't either, unless you don't do the work. The dismal success rate of MLM isn't necessarily the industry's fault. Most people who don't succeed in network marketing make one of a handful of errors that lead them to quick. Make sure you don't make one of these 6 mistakes to increase the odds of your success.
The first step, and often the most difficult one, is finding new customers and potential business builders. Your ability to find prospects will be the key to success in your MLM business.
Here are six ways to generate customer and business building leads for your MLM business.
There are hundreds, if not thousands, of direct sales companies to choose from. It's always best to choose a company that has a product or service you enjoy, and a marketing plan you can implement. But if you'd like to see a handful of potential companies you can join, here is a list of 40+.
If you're interested in a company that's not on this list, or you want a list of more companies, search the Direct Selling Association membership. Any company you choose to work with should be a DSA member as the organization vets companies and requires them to meet ethical standards.