There is a constant stream of folks looking for ways that they can enhance their lives with some kind of business that they can run from home. Like everything you will find some good and some bad.
Over the years there has been a business model that has attracted a lot of attention, and that is Network Marketing, also often called MLM (Multi Level Marketing). There’s great potential with this way of business for the average person to create a substantial income and also create residual income that can pay for many years into the future. In such a business model, in order for money to be made, product must be sold to end users, but there is the potential to also earn from the sales of people that you also introduce into your business. But not only that, when your team members start recruiting, you will earn a percentage of their sales also.
It will vary from company to company, but it is sometimes possible for this payment structure to happen all the way down the line allowing for unlimited earnings. This offers some truly amazing earning potential. MLM does certainly offer a unique opportunity. One of the best ways to build this kind of business is to have a small number of leaders in your frontline and work with them personally and train them in the business so that they too can find a select few to train to do the same. Naturally this looks great on paper, but doesn’t always work out like this in the real world.
Why Network Marketing?
Network marketing has actually been responsible for creating more millionaires and independently wealthy people than any other business model. It must be good as even Bill Clinton endorses the model. Whilst it wont happen straight away, and for many it never will; there is the possibility to create a walk away passive income that will pay you for years.
Although such a great business model the reality is that not everyone makes it big in this industry. Failure rates are as high as ninety seven percent. It’s essential that you are skilled in certain areas if you are going to be successful, despite the hype that often surrounds presentations.
Many folks will not get the success they want, they are sold on promises of easy riches and quit once it becomes clear that it’s not all as easy as first thought. The business works on the basis of person to person referral, so you will definitely need to be a good communicator and relationship builder.
Another reason for the high failure rate is the lack of training from the companies themselves. Often you will be told to make a list of your friends and family and try and sell products to them and bring them into the business. For most this simply doesn’t work, they don’t know enough people or the people they do know are just simply not interested.
The people who make it big in this business are those who know how to position themselves with the right posture and attract people to them, they also have figured out how to generate a consistent flow of leads on a daily basis. We are after all in a numbers game, and will get a lot of no’s before you get a yes.
This post was presented by MLM mentor, James Hicks.
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