MLM Myths Busted: 4 Reasons Multi-Level Marketing Can Work for You
Multi-Level Marketing (MLM), also known as network marketing, can provide a level of professional independence and financial freedom that can’t be achieved in most positions. As a global $182 billion industry, it can work to change your life as you know it now, offering mentoring, networking and financial success that is unlimited.
How do you know if MLM is right for you? First you must understand what MLM is and what it can do for you. MLM is the direct selling of products that aren’t offered anywhere else. Through MLM, you are compensated for the all the products you sell directly through your relationships as well as through indirect sales that happen through your downline team of salespeople. By referring others to join the organization as a distributor, you are compensated for their successes as well as your own.
Working with a MLM business can provide you independence as a sales person as you are no longer directly reporting to someone and you are able to give as much time and dedication to selling products as you want. The direct amount of effort you put into networking, selling and promotions, directly affects you’re your financial rewards and whether or not you meet your goals.
Some people work MLM as a part time option, while others use MLM as a full time position. In either case, it is about knowing what you want to achieve and meeting those standards you have set for yourself.
Dispelling the Myths About MLM
Over time several myths about MLM have developed. Here, we have unveiled the real truth behind MLM and the benefits it has to its network of salespeople.
MLM Doesn’t Work
With the Direct Selling Association reporting that the direct sales industry grossed $31.63 billion in retail sales in the U.S. in 2013, its proof that MLM does in fact work. When you look at global numbers for this industry they increase to $100 billion. Proving that MLM is a technique that works worldwide.
The success of MLM has more to do with the amount of effort a salesperson puts in and wants to achieve with their business. Those that don’t succeed with MLM as their profession, in most instances, haven’t dedicated themselves to the work and worked their relationships effectively. To be successful in MLM you need to employ the business technique developed by the company, work to find the market for the product you are selling and sell to it.
No Guidance is Provided
This couldn’t be farther from the truth as MLM is dedicated to the achievements of everyone that participates, providing ample guidance and mentoring. Those that feel alone or left unsupervised is often a case of not taking advantage of the tools that are being provided to you to help you achieve success.
MLM companies provide its sales representatives with training to help with their business success through product and sales knowledge. Offered are training materials that include; brochures, manuals, audio sessions and video classes. Beyond these tools, MLM companies also hold seminars and training sessions to continually build on the accomplishments of their staff.
Taking advantage of these training events can provide valuable knowledge about products and business strategies. It is also a good opportunity to network with others working toward the same goals as yourself.
In today’s digital world, this couldn’t be farther from the truth. Approximately 93% of marketers are networking everyday through social media, giving you the ability to promote and present your products to a new market of potential customers on a daily basis. It couldn’t be easier to find new potential prospects.
Through social media, you are no longer limited by geographical location. You can reach out to people all over the world that would be interested in your product. Social media allows you the opportunity to brand yourself and provide relevant content that your customer would be interested in. No longer will you have to go to the customer. As people search for the products that they really want, they actually come to you.
Besides social media, networking events are a great way to meet new people that may be interested in your product or becoming a distributor. This will give you the opportunity to share about your business and the products that make it so great.
You Can’t Make Money in MLM
One of the major benefits with MLM is the unlimited earning potential it offers. If you apply yourself to selling products and encouraging other to come along on your journey, there is no stopping the amount you may earn through your hard work.
Because MLM is based partially on what you directly sell, your motivation to sell product to your network remains high as you directly benefit from the sales you make. With you also earning off of the people that you recruit to sell, it is beneficial to mentor and encourage them along their road to success as you will see the direct results of their actions and yours.
Your earning potential is never capped with MLM, allowing you to continue to earn as you grow with the organization. Your income is related to your effort and the amount of time you put toward its, providing you great earning potential no matter where you are with the company. Not a lot of people can say this about the position they are in now.
The structure of MLM businesses allows you to become your own boss, earning as much as you are willing to work for. It provides you with professional independence, eliminating standard working hours and having to answer to a boss every day. Through MLM you can grow your business each year or month, by putting forth the effort required to make sales and recruit new salespeople to your team.
MLM is an opportunity to find success on your own terms at a rate that you determine is achievable for your own self.