Ever have a member of the family or friend strategy you with an incredible business opportunity? 10K in one month, or how a lady they know is driving around in a fresh pink Caddy and she’s going to show you how she got it! Oh, yes, I am to a few of the and oh yes, I’ve signed my entire life away to a few too!
Some get wealthy, some don’t and here’s why! I am a distributor for Amway, Avon, Mary Kay, Herbalife, Creative Memories, Heritage Makers, and a company (I cannot keep in mind the name) that dealt with fleet car sales. I’ve been approached to become a distributor for Excel marketing communications, ACN Communications, Prepaid Legal, Vitamist, and other products. Many of these companies have Multi-Level Marketing (sometimes called MULTILEVEL MARKETING) compensation plans. Yes, you can say that I’m a veteran of MLMs.
I didn’t prosper with some companies and did make a few dollars with others, however in the process I learned a couple of things. My first MLM experience was with Herbalife years ago. Plus a few other motivated distributors, I opened a business office and by using a woman who was simply very versed in the Multi-Level Marketing business we went gangbusters. During this time period I must say I learned how MLMs work. What I came across is that you truly have to listen to the people who have made some money in this business, duplicate their efforts, and you simply might see some rewards. It’s a ton of work and none of it is simple.
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There are two ways to make money with a MLM. 1. Sell the product 2. Sell the business opportunity. You can make just a little extra cash by selling a couple of lipsticks per month or an extended distance phone service to a couple of relatives. However, the big bucks come in by offering the business opportunity.
Your main priority should be signing up distributors of the merchandise! A fresh distributor must agree with the company, like everyone else did and can probably have to spend a couple of hundred dollars to take action and buy the merchandise in the deal. You shall get the percentage from all this. However, it generally does not stop here; you must educate these new vendors how to sell the business opportunity as well, hence the word “Multi-Level” marketing.
You want to enjoy the commissions from your marketers and the vendors they sign-up etc. Your job is two-fold. You are a salesperson of the merchandise and business opportunity and an instructor to your down-line. But before we get into all of this, we should determine that Multi-Level Marketing company is right for you first. Most people don’t possess a life-long desire to market products, or get involved in a Multi-Level Marketing business, nor do they know the very first thing about such a business. It is not until a friend or relative approaches you with this notion that the seed is planted.
Most times you will be dragged for some sort of workshop or meeting to learn about ways to get a great product, how to quit your job and become an unbiased money earner. Everyone dreams of quitting their job and having more time for themselves and their families that opportunity just might be the ticket. However, before you get all thrilled at this conference and whip out your credit card do yourself a favor and do a little research first.
A seed has been planted in the human brain concerning this new Multi-Level Marketing theory and you just might make it work, but just like some other business you must first research the business’s background and their settlement plan. Unless you take these very important steps, you might find out later that you lost your investment and won’t make a dime in the incorrect compensation plan. There are many different types of MLM settlement plans. There’s a good article link below that clarifies a few of them. Some are good, and some are not so excellent!
First determine what product excites you. You must like the merchandise you are available somewhat. If make-up is your thing, check out the cosmetic Multi-Level Marketing companies. Use their products as a person and get familiar with the merchandise. Next, talk with the business to see how much money you are going to have to fork out up-front to be always a distributor. 500.00. You shall get some type of start-up kit of product, sales, and samples aids.