Answer These 5 Questions Before You Make Money In Mlm
You'll find top multi-level companies from all over the world
. It's a big field with lots of choice for the novice marketer, good and bad, so obviously one has to carefully sift through the pros and cons of each. Personally, if I was starting out looking for a new MLM opportunity to make money in, I would only consider it a 'Top' company if it has been in business for five or more years. That tells me it has stood the test of time, and that it's not second-rate. It is an important first step.
Longevity may be the first thing I look for, however, there are other considerations I would take into account. Such as;
- Is there a real demand for the product or service?
- Will there be a market for it in the future?
- Does the product or service stir up emotions?
- Are the products and services readily consumerable?
- Do the products and/or services match your personality?
We'll look briefly at each in turn.
1. Is there a real demand for the product or service?
Look around and see how much demand there is for this particular product or service. Obvious advice maybe, but in hard times like these many businesses end up going to the wall because they tried to carry on selling products that not enough people wanted or products that people could not afford. Either one spells trouble.
2. Will there be a market for it in the future?
Fashion is fickle. Make sure you are not speculating on whether the product or service is going to be popular in the near future. It must be something that is hot right now. Of course, the ideal is whatever you sell carries on being in demand for some time, but you should ignore that and look to what's happening in the present market.
3. Does the product or service stir up emotions?
The product or service should stir up some emotions. Not all MLM companies sell interesting products and services, but the best ones will offer something that creates some excitement in its customers and representatives. Also, try and find something unique or special or unusual about the products. Things that can make a product or service unique include a patented ingredient or the way it is packaged.
4. Are the products and services readily consumerable?
I have spoken about this before, but pick a company whose products are suitable for re-orders. In other words avoid companies that sell one-off products, even if they are on the expensive side, because you'll have to work ten times harder to make money with this type of product than cheaper ones which must be continually replenished.
Repeat business is what you are after.
A good idea also is to choose an MLM company that promotes products with a twist that needs you, the distributor, to sell it. A company that sells boring humdrum products you can find most anywhere will not encourage you to do well. Ask yourself why someone would buy say, cleaning detergents from you when they can easily buy it cheaper in any supermarket? Would you? I certainly wouldn't.
5. Do the products and/or services match your personality?
A hugely important point to consider is whether the MLM company you are looking at works well for you. What I mean is, does it fit with your personality, the image you have of yourself and do you have the never give up spirit to really kick-on to make it work?
It's sobering to hear that around 97 percent of people fail to profit with their MLM efforts not so much because of problems attributed to MLM companies themselves, as it is to how the companies themselves are being marketed to potential distributors.
Many people mistakenly join MLM companies because they believe it's an easy way to make money on the side or part-time, and that no experience is necessary. The reality is a little different and far from easy.
If you are not familiar with sales or marketing, and especially if you have no experience in sales or marketing on the Internet, you will definitely have to read up and get some training on this aspect.
Sure the company will supply you with promotional materials, ie sales letters, websites, stickers, posters etc to help you out, that's a given, but you will need to know, or to learn, how to use them.
These five points represent, if not exactly the downside of multi-level marketing, at least concerns you must address before you take the plunge. On the upside, it is refreshingly inexpensive to start running an MLM, and you don't have to come up with your own product or service. It is already been done for you. Multi-level marketing does offer tremendous opportunity to make money for those who have the ambition and desire for doing and learning what it takes to succeed in the business
by: Kevin Thompson
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