But please do a little research before you blanket insult an entire industry or business model. I am a single mother with a 6 figure income because of MLM, nearly twice that when I’m actively working my business with both of the companies I represent, and while not everyone has the skill set to succeed in this business, the potential is certainly there, for those that do.
One of the challenges of MLM is convincing prospects to buy or join with you as opposed to the other reps that live in the neighborhood or they know online. You're selling the same stuff as thousands of others, meaning consumers have a choice. You need to do something that makes you unique compared to everyone else. Give people a reason to choose you over other reps. Some options include more personalized service, starting your own rewards program, or something that offers greater value.
As many have mentioned, MLM is an acronym for the word “Multi-Level Marketing.” It is basically a marketing system where a certain product or an opportunity is passed on from person to person to get it viral resulting to lesser expenses on advertising on the part of the company or the owner. The beauty of MLM is that it creates a tremendous opportunity for everyone to make money.
Also called pyramid selling or network marketing, multi-level marketing companies grow revenue by hiring and recruiting non-salaried employees referred to as distributors, influencers, consultants, salespeople, or promoters (among other names). In other words, employees generally receive compensation from performance through a pyramid-shaped compensation system.
Since this is your first time in MLM, be sure you select a company that has some longevity, having developed mature training programs and sales aids. Finding a company in the momentum stage is great as well, but don't get blind-sided by what appears to be fast bucks. If you choose the wrong company and have a bad experience, it may sour you on the entire concept. For your first experience, look for an established company that's been in business for at least two years but is in its early momentum stage. Try to determine the strength of the product line, management team and compensation plan.
As a last resort, you could try cold calling by phone. This is probably the most depressing and soul destroying activity on the planet. Even if you get past the usual questions such as ‘If you’re selling something – I’m not interested’ and ‘How did you get my number?’ you need a really slick and professional script and the ability to recognize and avoid lonely old ladies who just want to interact with someone, anyone, in fact.
Draw up a business plan. When you have a few potential companies in mind, write out your plan for building and expanding your business. Even before you've officially aligned with a company, it helps to have this plan figured out early. Thant way you can hit the ground running when you do eventually start at a company. Keep these things in mind when designing a business plan:
Don’t give up, and don’t throw money into areas where you don’t have to. There’s no such thing as completely free marketing leads – you are always risking something, whether it is your brand, or your future earning potential. However, with good networking, passion, and the right people, you can achieve success. Talk to some mentors and more experienced marketers today, and see what they have to say for you. You may be surprised at how much you can bring in, with the right choices when you are getting started.
The binary compensation plan has recently gained popularity because of its simplicity and the growth opportunities involved. Unfortunately, the plan has been so misused that it has been hit with many state and federal regulations. Government actions against such companies have been very public, resulting in bad press for the companies and a bad reputation for MLMs using the binary compensation plan.
"New School" is to have a presence on the internet, learn how to attract the millions of interested prospects from around the world about your opportunity, and add them to your list online. Then, because they have the same vision as you do, you learn how to support their business, while at the same time making money from the products you offer and from the business opportunity that everyone shares as a common vision.
The cons of mlm are that most people getting into mlm don’t understand mlm. They apply the incorrect philosophy and it becomes a recipe for disaster. I see dozens of people monthly that join a mlm, don’t work and don’t yield any results and as a result, leave with a bad taste. But with correct leadership that problem could be averted. That is precisely why I love my company. It has the best leadership (in my opinion) and they properly train their agents.
HopSkipDrive provides drivers an alternative to the traditional Taxi model. Drivers pick up and drop off kids for busy parents. To become a HopSkipDrive driver, you must be 23 or older, have a clean background, and 5 years of experience with childcare, among other requirements. HopSkipDrive is currently only working in the greater Los Angeles area.
As a Postmate, you may deliver food from a restaurant, a Frappuccino from Starbucks, or someone’s dry cleaning. Set your own schedule and earn up to $25/hour. To work, you must be over 18 and own a bike, car, truck, scooter, or motorcycle. Postmates receive 80% of the delivery fee and 100% of any tips they make; money is deposited into couriers’ accounts weekly.
This is awesome! I didn’t know there was an MLM company that sells wine. I may look into this. I’m still on the search for a solid company. I pretty much have PTSD with MLM companies because of past teams I signed up under. They were all about hype and money but never did explain HOW to build the business. It was so bad that I am now more cautious and aware of these type of people.
3. Business cards, buttons and brochures. Most companies offer sales aids that help the cold sponsoring process. If you owned a store, you would put out your "open for business" sign at the start of each day. Wear an "open for business" button promoting your product. Something catchy will inevitably create interest. If people are bold enough to quiz you about the button, they're probably outgoing and a great prospect. Pass out literature with your phone and e-mail, and use your business cards. Do this consistently. The law of averages says something has got to happen.
I do have to say you are the best at providing great helpful information to others. I feel like you do really care about our success...and I like that!!!I filtered through a lot of lead selling sites. Like I said, Yours sounded the best... being able to actually view what you have and all the helpful tools you have...before actually having to purchase anything. Like I said I really feel safe here...because you seem very sincere to help us succeed... not just provide leads and take our money. So Thank-You again.