When people hear what I’m doing I keep hearing too often…it’s a pyramid system…
Many have written about it and I will for sure not be the last but like many of my colleagues I would like everyone to understand that MLM is a serious business.
It’s not a quick rich scheme as many may think. You have to work hard and touch your business daily but the possibilities are endless. Just give it the time it needs!
The positive side of MLM:
· There is no investment.
· You can work when and where you want. Make the most of it!
· You can earn as much or as little as you need (uncapped income) – it all depends how much time you want to work every day or week.
· You don’t need to know everything before you start. You can learn new skills while you develop your business. Trainings and coaching are provided free.
· Once you reach a certain level (every MLM company is different) you can earn incentives that are easily achievable simply while doing what you do since you started. Free travelling, Car bonuses, Chairman’s bonuses…
· You will help a lot of people and become a coach, not just a sales person.
· MLM is open to everyone! Whether you are shy or outgoing, young or older with a lot of life experiences - you will definitely develop your personal skills and boost your self-confidence!
Difficulties of MLM:
· There is no investment. People will give up on this business easily because there is “nothing” to lose.
· You can work when and where you want; if you don’t have self-discipline to do the necessary you will never succeed.
· Many don’t want to attend meetings (online or in person). It’s part of the learning process. Product trainings, success days, business presentations are all part of the development you need for your business to succeed.
· Accepting a no or a not now will always be difficult. Many people are still doubting how MLM works but it will however always be part of this business. The only way to move forward is to keep your head up and move on. As Jim Rohn says…NEXT…
Knowing the difference between legal multi-level marketing (MLM) and illegal pyramid schemes can help you make the safe decision when considering that job on the side.
1. Research your company – Do a good research before you start. The top 25 MLM companies are minimum existing 10 years (my company already 40 years! Check out details here)
2. Look at the compensation – MLMs make their money of sales rather than the contribution of new members. MLM is all about team work.
3. Find out the refund policy - Most MLM companies offer a full refund for opened and even used products. Pyramid schemes usually don’t have this service.
4. Find out how you get promoted – People move up in pyramid schemes based on recruitment. MLMs promote people based on sales numbers.
5. Look at the business model. MLM is quite straightforward and easy to understand. Pyramid schemes usually don’t have a legitimate business model and are confusing.
6. Do research into what products they sell – make sure it are real sellable products!
7. Look at the cash flow – Is the company self-sustainable and debt free?
Network marketing has continued to experience growth due to strong macroeconomic conditions, an increasing trend toward entrepreneurship, and an ability to adapt to both consumer trends and advances in technology. The DSA expects the business sector to continue to grow in the U.S. by 3% to 5% per year for the next three years. (Source is networkingtimes.com)