What is Multi Level Marketing? Is it a viable way to make money from home?
If you’re asking yourself the question ‘what is Multi Level Marketing‘ then you’re in the right place to learn more about this business model, and why it’s so popular. I’ll be honest and say it’s not perfect, there are good and bad things about this industry…you should be aware of both, even though some marketers will only tell you the good.
So what is Multi Level Marketing (MLM) in a nutshell?
It’s a business model where you are paid to retail products and recruit distributors who can sell products, or also recruit more distributors.
Multi level marketing can also be known as network marketing, direct sales, MLM, home business and referral marketing. There’s literally thousands of MLM companies out there, the majority of them being health and wellness.
For the most part, multi level marketing businesses are sustainable so long as there is a product or service involved that people would buy anyway. Even if there isn’t a business opportunity side to things, the product or service sold should hold a lot of value.
The problem lies where this isn’t the case, and promoting a network marketing company that only pays well for recruiting is risky.
On the flipside, once you find an MLM company you can earn an income by both selling products you’re passionate in, and by referring others to a company that has great ethics.
The thing that people forget however, is that they treat this business differently to other businesses. Although you’re not having to hire a building or employees, it still doesn’t mean you can avoid doing the work without things catching up on you.
You get out what you put in with any business, and network marketing is no different. At the start you may have to show up daily to see results, and it can take a long time to see results especially if you are inexperienced as a business owner. A lot of people talk ‘smack’ about the industry because they weren’t patient with it and gave up to soon.
Can you give some tips for someone just starting an MLM business?
In the beginning, be realistic with what you want to achieve and start with just replacing your current income. That could be at your day job for example. Then, start talking to a set amount of people per day and getting them in front of a company presentation (I recommend a minimum of 25 contacts per day).
It may take time to break inertia, but it’s important you act immediately to gain momentum upon starting a network marketing business. The trick is to remain consistent, plug into a mentor who has already got results to learn from them.
Finally, never give up and always stay crystal clear with what your vision is behind WHY you’re doing this business in the first place (hint: it must be a huge vision, much bigger than just helping yourself).
If you liked this post on ‘What is Multi Level Marketing‘ you may also like my related posts on more Entrepreneur Opportunities and 5 Home Based Business Ideas.
-Seb Brantigan
A.k.a. The Britpreneur
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Skype: seb.brantigan
P.S. got value from this post on what is Multi Level Marketing but still don’t have a system that will actually show you a simple way to get results?
Here’s the formula I’ve used to help generate over 3,746 leads online and make $10K+ in commissions from people who didn’t sign up in my primary biz, using no paid marketing.
Click here for the training video on how the top earners recruit reps all day long without rejection (unless you already recruit daily)
Also be sure to check out my resources page if you are looking for powerful tools to make your business more efficient and less time consuming, as well as my free training page for specific marketing and lead generation strategies.
