What does MLM mean and tips to choose the right business for you.
Since I work with Forever Living and its Products I will use it for some examples and to kind of bind it all together.
If you have landed on this page (My blog or one of my articles) because you decided to make a change but you don’t know how or if you are not quite sure that you are the type of person who can succeed in creating your own / MLM business then you have come to the right place.
Beside that you can find links to my online store for all Forever Living Products Such as Aloe Vera Gelly, Aloe Propolis and Aloe vera Creme and some useful articles I am going to post in regards to Aloe vera uses and how to support and maintain health life style using Forever living Product – give me a break – I have to promote myself as well right ? J
Anyway, I hope what I have to say will help you get to a decision or give you more information that will assist you in making one. Please Follow me on Facebook / Twitter for more updates.
Making a change – Building your own wealth with MLM
Tired of living from paycheck to paycheck?
Dealing with your boss?
Working crazy hours?
Ready to make a change in your life?
GOOD, Before you hit the road, please remember one thing – Money does not grow on trees. Even when you bump into a gold mine, you still have to – that’s right – mine. Once you got your first load, then it’s getting easier but you have to take an active part in the change you aim for.
I see a lot of those get rich fast schemes :
Learn how to make tone of money in just one day
$5000 monthly with only 4 hours a day
yeda yeda yeda.
Well if someone can show me a contract/job offer or get me in touch with someone that offers a ligit work that pays that much i am signing right this moment. (I am kidding, not so fast but you got my point)
i am quite sure you did not get such guarantee and this is what i am going to talk about.
To make $$$$ Money $$$$ you have to put some effort.
Can you make tons of money? – Absolutely
Will it happen over night? week? month? – Absolutely NOT. Not a chance.
I am not talking about winning the lottery or god forbid inherit a rich uncle’s estate.
I am talking about creating your own wealth.
If you are ready to hear about it then proceed with your reading and you will find out very helpful tips that will help you get started, if you want easy money, then the rest of this article will be a waste of time for you.
So…. Still with me? Good J
Creating your own wealth and getting to a financial freedom is a path you take in which you learn and evolve. It is about setting your goals, pursue them and before you know it – you have your financial freedom.
YES YOU CAN and YES you will be creating your own wealth but here are 3 Key elements you need to have before you hit the road:
Motivation – You want it and you are willing to work for it
Power of will - Keep a positive and optimistic state of mind. Be patient and persistent
Consistency – Bring your A game every time every day
As you can see none of those are taught in school and everybody can have it once they decide they want to make a change.
After all, if you will keep doing what you are doing today, most likely you gonna have more of what you already have. if you are good with that good for you – You are a LUCKY person.
Multi Level Marketing organizations are organizations that instead of investing their money
in fancy T.V/Radio/Internet commercials, they build their own incentive plans which motivates customers and distributors to sell the products for usually higher commission (Higher than wholesale/retail in terms of margins).
Most of MLM organizations work (more or less) in the following way. You join as a regular distributor which allows you to buy the product at a wholesale/distributor price and you then resell it to your customers.
You can also sign up more members underneath you (Multi Level) so they become a part of your team and get you a percentage (commission) on everything they sell as well.
Once you get to a certain amount of sales per year/quarter (changes from organization to organization) and/or certain amount of people that you recruited you climb up the ranking and become a manager, regional manager etc. (once again, changes from organization to organization) which at that time gives you more benefits such as higher commissions, vacation treats, Iphones and so on.
This is basically MLM in a nut shell. Click here for more details
Note : Usually people tends to back off when they read it because it reminds them the Pyramid Scheme.
so just to make things clear here – Pyramid marketing is Illegal in this country (USA) and is totally different than MLM. In Pyramid there are no sales of goods, there are no products. You can read more about it on line but lets just be on the same page with that – I am not talking about Pyramid.
So How do you choose the right company for you?
Well a quick Google search on MLM companies will probably result in thousands of them globally.
Company’s joining policy
The first thing I do is look at the company level – before I dive any further
I tend to divide the companies out there into 2 types
Companies that require commitment – Basically sign you on a contract, get you to pay to become an active member/distributor, apply termination fees etc.
It is not always easy to spot it, but my senses and my experience tell me to stay away from this type of companies.
Companies without a commitment – basically means you register (free) to become an active member, you get your start up kit, your sales/marketing training materials and you start working to build you wealth.
** The better companies out there will sell you starter kits at a low price just to get you going and will offer to buy back everything you are not selling if you chose to quite.
I also look at the company references and time on the market. The longer the company exists the better chances you have. This is very important point when talking to customers. If the company is relatively new, it’s a little bit harder to promote. (unless they have something revolutionary).
Now I do not say that new companies are bad thing. Not at all but overall in terms of chances, choosing a company with some mileage can minimize your risk. (The competition might be stronger though)
The second thing i do is I look at the products the company sells: the type of products, their uniqueness, the competition etc.
as well as the service and customer satisfaction they retain.
(Nowadays, it is so easy – you are always couple of clicks away from the information you are looking for.
Google it, look for it. Knowledge is power and it will help you get to the right decisions).
As you can see your first step in creating your financial freedom in MLM is to recruit your customers.
You need to sell a products/service and it is crucial that you will have good products and competitive prices to offer.
Now, try to answer these questions before you read further :
1. Which sale is more difficult – the first one or second/third etc?
2. What makes you as a customer come back and buy again from a certain store/chain/product?
MLM As any other business is based on sales. Money coming in. You have to always remember those 2 questions because
they are the key to grow your business and you always have to make sure that your business offers that to your customers.
I would recommend that you pick a company that talks to you whether you like their products (the best option) or you like their agenda
(green, not testing on animals) or something that related to one of your hobbies etc.
It will be much easier for you because people will be able to better relate themselves to you when you promote your products.
For instance, if you never smoked and you are offering something to help people quit smoking it might be harder for you to relay the benefits or
for other people to take you as a role model and relate to. Again, this is not math or science but tips to help you improve your success rate based on my experience.
Selling a product you actually use yourself is the best of two worlds. You get to buy it for lower price and you can actually recommend it firsthand.
Take this for example:
You are looking to buy to a new Car. You go to Honda dealership, the sales person is very nice and tells you how great the car is,how good the brand is, how much more economic it is
compared to the other cars out there and how this would be the best deal for you. You know about the brand and how good it is and you
get ready to to sign off but you ask the sales rep, so which Honda do you drive. The sales rep smiles and says well I just signed up for a new Toyota.
See my point there?
Satisfaction and Return Policy
Companies that believe in their products and business tend to offer full refund to their customer and support their orgnization and distributors by allowing them to offer the same thing to their customers.
The third thing to look for is training/sales materials
Companies who offer a lot of sales training and sales/marketing materials will make it so much easier on you
when you start you own business. It will allow you to focus on your business and goals rather wasting you time on preparing
your own power points and demos.This will give you a complete kit to support your business and sale’s life cycle:
Finding the right mentor Team Leader
So you go through the check list and you find a company that you like, whats now? How do you join?
The way I see it, there are 2 ways. there is the simple way and there is the good way. Unfortunately they are not the same.
The easiest way would probably be to go online and fill in an application, usually very basic questions and probably a minimal fee
for your starting kit. (you need to have something to sell right? – check the Satisfaction and Return Policy)
You will probably get the products within couple of days to start you business but then what? How do you make you first sale? How do you
recruit customers? how do you maintain customers?
If this is the first time you do it, I would strongly recommend that you do it the good way.
One of the benefits of MLM is the Layers between the Ms :). You join an existing team, with a team leader that has experience to some extent and he/she will be able to direct you, assist you
and handhold you in your first steps in the MLM business. After all your success will be their success as well and that is the beauty and the key of MLM. Going through a team leader will not cost you any extra dollars, and it basically means you will have to fill in him/her distributor ID in your application so you will be registered under him/her organization as far as the company is concerned.
In the company I work for, Forever Living, I often see people helping each other regardless to the teams they belong and this is going on in a lot of companies.
When you look for a team leader or a mento, you should look for someone you will be comfortable working with.
Check the forums, blogs, reviews. See if this person has the things you are looking for.
(some people look for geographic proximity, some for ethnic origin etc.). As long as you click you will be able to help each other grow and building your financial freedom will be more fun and successful.
So let me wrap it up here and sum it real quick:
Is MLM a good way to build wealth and get your financial freedom? Absolutely yes and there are plenty of people who have done it and are actually doing it every day.
How much work do I have to put into it - The more work you put the more results you get. Unfortunately, I don’t know ANY person who made his fortune working 4 hours a day for 3 months only. I might be wrong here but the chances are that it won’t happen. Like any other business, you have to put some efforts at least at the beginning and grow it slowly.
Can you start with just 4 hours a day (or less)? Absolutely. Let me tell you one more thing. Once you have made your first sale and you get to taste it,
you will see how achievable it is and you will get confident to spend more time on it. Just don't expect to sit down for 4 hours a day and get a check at the end of the month.
Things you will need in order to start:
Money out of pocket – Usually none or couple of hundreds to buy the products you sell
Motivation – Tons
Power of will – Tons
Consistency – Tons
Congratulation – you just made your first step towards financial freedom.
Thank you very much for reading this. I would be more than happy to get your comments and feedback on this so please good or bad just send it :).
If there is anything i can do to help you with do not hesitate to contact me. Regardless of your question or your business type.
i am more than happy to listen and learn.