Sharon Davis shares her opinion and experience with MLM's and sheds some light on the infamous bad rap that MLM's receive.
MLM's- Waste of time
When most people think about Multi-Level
Marketing, they envision slick-talking, insurance
salesman-like people pushing their products at everyone in
sight. Maybe some of you have even tried MLM's, didn't get
insanely rich overnight and gave up thinking, "I must not be
cut out for this business" or "this is the last time I fall
for one of these schemes".
Part of the reason that many people don't make
any real money with MLM's is that they go in with unrealistic
expectations. It's not really even their own fault either.
Alot of the ads you see out there are promising some pretty
appealing stuff; overnight riches, insane profits, quit your
job today. If it were really that easy, wouldn't everyone be
working in their pajamas and retiring at 30?
Want to know the truth? You can make money with
MLM's. Good money. I know, I make good money.
So what's the secret you ask? It's not really a
secret. If you think about it, it's really just basic business
technique. The problem is that the true nature of MLM's can be
clouded by all the hype, and people that aren't well-suited to
this business join up thinking it's their ticket to financial
freedom. Let's look at the pros and cons, and you can decide
if an MLM can work for you.
PRO: When you join an MLM company, you are
basically starting a business. But it's kind of like a
franchise. You're using the tools that an already-successful
company has tested, used and proven to be effective. You've
got a great product (I'm assuming you've chosen a program that
does, in fact, offer a quality product). All of this already
gives you one of the biggest benefits of MLM programs: you
don't have to deal with the manufacturing, the packaging, the
shipping, the inventory, the order-taking. Your focus is on
the advertising, and because of the power of the internet,
this is literally at your fingertips. In short, the company
does most of the work for you.
CON: This very fact can actually be a drawback
for some people. It goes back to unrealistic expectations.
Because it seems so easy, some people think that they don't
have to do anything, that the money will just start rolling in
once they sign up. You laugh, but I'm telling you that I see
this happen every day. In fact, more people don't do the
A-number 1 thing that you must do which is to place at least
ONE ad. It would be like planning a great party with the best
caterer in town, but not sending out any invitations and
hoping that guests would just come stumbling by. The bottom
line? You do have to put in time, effort and sweat equity,
just like any other business.
PRO: Promoting an MLM program allows you an
extremely flexible business. It really can be done in your
spare time. Most of that sweat equity is spent in the
beginning; planning, organizing, placing your initial ads,
etc. Once you have the foundation in place, most of your time
is spent finding new ways to promote your business. You aren't
tied down to a 9-5 schedule, you don't have to attend
meetings, wear suits, be at the mercy of your boss.
CON: It is imperative that you follow up
religously. By following up I mean not only with your leads,
but with your downline. This is the absolute key to turning a
little trickle of sales into a real source of income. The
secret is in your downline. Most programs offer at least a
2-tier commission program. Many go much deeper. Those who are
making the really big money are the ones who teach, mentor and
follow up with their downlines. Personally, I wouldn't
classify this one as a con, but I know that many would. If YOU
want to be successful, then make THEM successful. And what
about your leads? You've probably heard it before, but I'm
going to say it anyway; on average people have to be exposed
to your information 7 times before they will buy. The good
news is that so much of this process can (and should) be
automated. If you only use one tool to automate your business,
then make it an autoresponder.
CON: If you absolutely can't handle rejection
and/or can't stick with something unless it gives you
immediate results, then MLM's are not for you. Most people
give up before they've even given it a chance. Even with a
"killer ad" it's still a numbers game, and persistence will
pay off. If nothing you're doing is working, you have to make
changes, test, monitor. Then you have to make more changes,
test, monitor. Then, when you find just the right ad and just
the right places to post them, they might suddenly stop
pulling. Remember, this is your business. You've got to keep
changing your approach as your audience changes. Look how
quickly companies change their commercials. They're responding
to the changing market. This is why Jack was blown up, and
it's also why he's Back.
Always do your homework before you sign up. Ask
for references from existing associates. Contact the BBB and
see if they have any information on the company, good or bad.
Be sure to read all the information that is presented to you.
My personal recommendation goes to OutSource2000. It's my most
successful program by far. Take a look for yourself here.
So what's the moral of the story? MLM's can be a
viable source of income. They can be for you if you are
persistent, organized and enjoy helping others, but they're
not for everyone. Take stock of your skills and your
expectations and you will be able to make an informed decision
rather than wasting your time chasing something that's just
not for you.
The Better Business
Bureau- They have an alerts section and local BBB
The FTC has a lot of information on which
MLM's to stay away from. Just by doing a search at their
website for multi-level marketing you can get a ton of
information. You can find out which companies are or were
being investigated or taken to court by the FTC, and lots
Cagey Consumer-Keep on top of the latest
scams, and investigate hot topics like Internet fraud and
Sharon Davis, Work-At-Home expert, author and consultant,
helps people to achieve their goal of working at home,
telecommuting or starting a home business.
Work At Home
Work At Home Blog
Deceiving and being Deceived
Finding Your Home Business Niche
Using Freelance Websites to Telecommute
Work at Home Ideas
Just starting a Home Business?