As an individual with some dreams for the future and hopes of living a comfortable life while working for yourself, you may want to consider the Multilevel Marketing (MLM) option, a venture you can actually start with relatively small to moderate capital.
However as you come across the multilevel marketing communities, you might get intrigued by the sales pitch. You would be delighted to earn extra apart from your job. But, over a period of time, you may find major downsides and have to earn money by insisting people to join the network. Individuals who don’t have the skills for marketing the products may not succeed and be happy with the experience. The truth is not all MLM companies have the correct structure to support their distributors and ensure that they have more than one stream of earnings through the network. Besides, some of those companies have no real structure and are just basically...let us say scam and ponzi.
With an informed choice of MLM company, patience, and dedication, you would however be reaping a great benefit from your venture in a matter of time.
So, before you step ahead and work with the MLM company, you need to research online and go through some things before getting involved.
As a rule for selecting the MLM company to join, look out for a company with 3 things:
1. The Right Products: With excellent products comes an excellent company. The right product must be unique and have special appeal to customers to ensure high reorder rates.
2. The Right Management and Backbone: You really do not want to join a company whose owners are unknown or not made public. The owners should not have bad and not-so-clean track records. It will also be an advantage for you to join a company whose owners were top earners with MLM experience from their previous companies. Why because they tend to understand the industry better.
3. The Right System: It is highly important that you research about the paying and compensation plan. You need a powerful hybrid system to assure that you will get paid whenever you drive sales or get recruits wherever you are in the world. The right system must incorporate the necessary technologies such as easy-to-navigate webpage to make performance tracking easy. The system must have a software that will organise and store the details of the users in your downline and their position in the tree, calculation of the compensation and their payouts, generation of reports, e-commerce integration to facilitate online sales, e-wallets for safe and reliable transactions and much more. In the right system also, the compensation plan must remain consistent over time - in essence stable.
Having those three points in mind, you will most likely make the right choices when it comes to MLM companies. However, it is also important to consider the following before signing up for multilevel marketing.
1. Don’t expect too much as immediate return, MLM is usually not a get-rich-quick scheme.
If you’re thinking of joining an MLM company, then you should not act solely based on the promises the team makes, especially those claiming that you would earn some huge amounts on a daily basis once you start up or obtain the starting pack.
Here's why; while it may be possible to record some very high profit and get to that level, it usually comes as a product of work as required by any legitimate business model. The best way to look at multilevel marketing is on the long term, becausew well, it's not a get-rich-quick ponzi scheme. You will have to treat your business as a big deal and dedicate some hours to get trained, to know the best practices, and to grow it. Once you've mastered the art well enough, your MLM business will likely take you to where you want to be - your path to financial freedom.
The good part is that you can combine your MLM business with your employment, which means that you do not only work to grow your employer's company, you are growing your own business at the same time and will have something to retire to whenever you feel you're ready - "Firing your boss" is the phrase MLM teachers like to use.
2. Do not fall for scams
MLM companies usually have laws that guide their operations. However, it is recommended that you look out for some companies with bad reputations. A good thing to do would be to go through the company's website well enough before you say yes to any invitations.
You should keep an eye on claims which state that you have to do little to nothing to earn or that you need to purchase a vast number of products to start off.
If the MLM company only lets you earn when you recruit new persons and does not include earning through product sales, then you are dealing with a Ponzi scheme. Besides, you should look for the stream through which the compensation comes from. Basically, a good MLM company usually has a great and hybrid compensation plan.
According to the president of the Pyramid Scheme Alert, a scam could be identified if the company is earning money simply by adding people to the network. Eventually, in the process of building the network, the person is bound to lose money.
3. Look out for feedbacks to get the full picture of the company.
As you surf the internet, you should research everything related to the company. You can check the feedbacks and whether people have posted any complaints. Rather than believing everything that’s been pitched to you, you should look for people addressing the same problem. For instance, representatives may complain regarding the team not notifying them of the sudden hike in the price.
4. Understand the compensation plan
Nothing gets people stuck after starting their MLM journey than not fully understanding how the business and compensation plan works. While you will continue to learn in your first few weeks or months of starting your MLM journey, it is important that you should comprehend the compensation plan well before signing up.
Research and ask questions from your prospective sponsor and clarify whatever is not clear from what has been stated. Some of the compensation plans can be a bit complicated that you would not fully understand what is required for you to earn. In as much as a good company should clearly state down their compensation plan, it is your responsibility to understand them before you sign up
Though there are a number of MLM companies in the industry, only a few have truly great compensation plans coupled with the right system. Alliance in Motion Global Inc. is one I've trusted and has won numerous awards for creating a great platform for turning ordinary people into extraordinary millionaires.
0 comments:
Post a Comment