Warning: Was Joining An MLM or Network Marketing Business A Huge Mistake?
- ARTICLES |
It has been said that over 2000 people join an MLM or Network Marketing opportunity every day looking for a way to either make a few hundred dollars extra per month, or completely replace their income and move on to millions of dollars in business.
Should you join an MLM business? Will you make any money? Read on to find out...
Network marketing or multi-level marketing is when you get paid not only for making sales of a certain product, but you get paid for helping others to do the same, for building a TEAM.
The benefits of this kind of business are many. With a team of people all selling the product and introducing the business to others you can experience LEVERAGE. Being paid off the work of others as well as your own. This gives you more time freedom, flexibility and income because you are not tied to a job.
The downside is that you are the one that has to ensure that your team can be successful too. The easier you can make it for them to succeed the faster your team and income will grow.
So the question that so many ask is "Will I make money with network marketing?"
The answer is YES, if you work at it. So many people think that MLM or network marketing is supposed to be easy money, those are the ones that will NOT make money if they don't change their thinking. You have to put in the work UPFRONT but the long term rewards are huge...being paid what you are actually WORTH, having the time and freedom to do the things you LOVE and having a passive income month after month.
So how do you get started on the right foot in network marketing? Training. Just like anything else on the planet, to become a professional it takes learning and practice.
So lets first cover the three biggest problems a network marketer faces in their business so that you can be aware of them before you spend too much time struggling with them.
MLM problem number 1 - People to recruit. You were told to just call your friends and family and tell them about this great opportunity. Now you've embarrassed yourself, had no sign ups and have totally burned through your warm market. You need more 'leads' as we call them, people to introduce to your opportunity.
How do you get more leads? Well, you can buy them but ask anyone that has spent money and time calling leads and they will tell you, it's HARD. You get hung up on, rejected and even if you DO recruit anyone, you now have to convince them to go through the same grueling experience daily to just have a chance at recruiting ONE person.
The easiest and most profitable way to generate leads for your business is online. Not only are these leads FREE but they are people that are actively searching for ways to make money from home. These are what we call HOT leads. If you do this right, you can have people calling YOU daily asking to join your business. You can find out more about generating leads for free at the end of this article.
The next problem network marketers face, problem number 2, is a lack of money. This either happens because they have been buying leads and not recouping the money in sales fast enough, or that they fail to make any money their first month and have recurring business expenses that they cannot keep up with.
Building a network marketing organization takes time, but a lot of people run out of money well before they see success in their business. The best way to conquer this and actually make a profit your first few weeks is by setting up a funded proposal.
What is a funded proposal? It's when you offer your mailing list (the list of people interested in making money from home) the chance to buy a smaller priced item that will help them solve a problem. For example, a lot of people you will get on your list will have tried many different ways of making money online. If you can offer them a product, like training on growing a successful MLM business online, they will not only be more likely to buy it because it's going to help them succeed, but many of them will actually come to you and join your MLM because you are offering them more support than their current upline.
This is a win-win situation. You profit from the people who may never join your business because they are already in one, and you help them succeed in their business. You also prove to people that you know how to make money from home (because you ARE!) and therefore they want to join your business. You now have an upfront income stream AND a passive income stream from your MLM.
The third problem in MLM or network marketing is ATTRITION. This is when people start to quit your team, which is inevitable. The problem is that attrition in a big organization can affect the morale of your team and people start to drop like flies, faster that you can recruit to replace them!
So how do you deal with attrition and stop it happening? 1. Recruit more people which can be achieved using the solution to problem number two and 2. Make it EASY for people to duplicate....using the solution to problem number two.
I firmly believe that a funded proposal is the best way to create an income from home, build your MLM team and see more duplication, less attrition.
To learn more about using a funded proposal to grow your MLM or network marketing business by as many as 7 new reps a DAY get our free video training course here - How To Grow Your Business Online, FAST
Should you join an MLM business? Will you make any money? Read on to find out...
Network marketing or multi-level marketing is when you get paid not only for making sales of a certain product, but you get paid for helping others to do the same, for building a TEAM.
The benefits of this kind of business are many. With a team of people all selling the product and introducing the business to others you can experience LEVERAGE. Being paid off the work of others as well as your own. This gives you more time freedom, flexibility and income because you are not tied to a job.
The downside is that you are the one that has to ensure that your team can be successful too. The easier you can make it for them to succeed the faster your team and income will grow.
So the question that so many ask is "Will I make money with network marketing?"
The answer is YES, if you work at it. So many people think that MLM or network marketing is supposed to be easy money, those are the ones that will NOT make money if they don't change their thinking. You have to put in the work UPFRONT but the long term rewards are huge...being paid what you are actually WORTH, having the time and freedom to do the things you LOVE and having a passive income month after month.
So how do you get started on the right foot in network marketing? Training. Just like anything else on the planet, to become a professional it takes learning and practice.
So lets first cover the three biggest problems a network marketer faces in their business so that you can be aware of them before you spend too much time struggling with them.
MLM problem number 1 - People to recruit. You were told to just call your friends and family and tell them about this great opportunity. Now you've embarrassed yourself, had no sign ups and have totally burned through your warm market. You need more 'leads' as we call them, people to introduce to your opportunity.
How do you get more leads? Well, you can buy them but ask anyone that has spent money and time calling leads and they will tell you, it's HARD. You get hung up on, rejected and even if you DO recruit anyone, you now have to convince them to go through the same grueling experience daily to just have a chance at recruiting ONE person.
The easiest and most profitable way to generate leads for your business is online. Not only are these leads FREE but they are people that are actively searching for ways to make money from home. These are what we call HOT leads. If you do this right, you can have people calling YOU daily asking to join your business. You can find out more about generating leads for free at the end of this article.
The next problem network marketers face, problem number 2, is a lack of money. This either happens because they have been buying leads and not recouping the money in sales fast enough, or that they fail to make any money their first month and have recurring business expenses that they cannot keep up with.
Building a network marketing organization takes time, but a lot of people run out of money well before they see success in their business. The best way to conquer this and actually make a profit your first few weeks is by setting up a funded proposal.
What is a funded proposal? It's when you offer your mailing list (the list of people interested in making money from home) the chance to buy a smaller priced item that will help them solve a problem. For example, a lot of people you will get on your list will have tried many different ways of making money online. If you can offer them a product, like training on growing a successful MLM business online, they will not only be more likely to buy it because it's going to help them succeed, but many of them will actually come to you and join your MLM because you are offering them more support than their current upline.
This is a win-win situation. You profit from the people who may never join your business because they are already in one, and you help them succeed in their business. You also prove to people that you know how to make money from home (because you ARE!) and therefore they want to join your business. You now have an upfront income stream AND a passive income stream from your MLM.
The third problem in MLM or network marketing is ATTRITION. This is when people start to quit your team, which is inevitable. The problem is that attrition in a big organization can affect the morale of your team and people start to drop like flies, faster that you can recruit to replace them!
So how do you deal with attrition and stop it happening? 1. Recruit more people which can be achieved using the solution to problem number two and 2. Make it EASY for people to duplicate....using the solution to problem number two.
I firmly believe that a funded proposal is the best way to create an income from home, build your MLM team and see more duplication, less attrition.
To learn more about using a funded proposal to grow your MLM or network marketing business by as many as 7 new reps a DAY get our free video training course here - How To Grow Your Business Online, FAST