Today’s economy means that more and more people are working from home. You might have been approached by family or friends about a business opportunity and chances are, this was to ask you to join an MLM company. MLM offers many benefits but you need to know what you’re getting into before you join, so take a look at below for more advice.
Know That it’s an MLM Company
MLM companies can have a bit of a bad reputation and a little bit of a social stigma. People often have a number of misconceptions about MLMs and about the type of people that work for them. If you’re at all worried about being tarred with that same brush and if you’re at all uncomfortable with that idea, an MLM scheme probably isn’t for you.
MLM = Sales
In the vast majority of cases, MLM = sales. Regardless of what the person recruiting you into the company tells you, even if they tell you that they are sharing ideas or trying to spread the word or spread ideas, they are really trying to accrue sales. The MLM business model can provide you with the means to make a lot of sales, but at the end of the day, your success rests on how many sales you can make and how many people you can recruit to the company. If you don’t want to sell products, MLM won’t be for you. But if you’re a savvy, confident salesperson, you should find MLM a breeze.
Sell to Your Warm Market
Most organizations will recommend that you sell to your warm market. This means selling to your friends and family. They say that this is because you’ll find it easier to share your story with people that you already know as you’re comfortable talking to them. But unfortunately, this can be a problem in itself – selling to your friends often doesn’t work all that well as the selling conversation will actually be rather uncomfortable. You might actually find it easier to sell to complete strangers than you would your family and friends so just be aware that although your company might want you to sell to your warm market, that might not be the right route for you.
You’ll Need to Recruit
To make a significant amount of money in the MLM industry you‘ll not only need to sell products, but you’ll also need to recruit others. Those that you recruit under you are called your downline and you’ll often make money when someone joins your downline, in the form of a bonus. You might also take a percentage of each sale that your downline makes. Therefore, the more people you recruit, the more money you make. In some organisations, you might also make money when your downlines recruit others and so on and so on. Recruiting is more difficult, however, than selling, and it requires a lot of skills. You’ll need to sell them on the products and the company concept but you’ll also need to sell them on the prospect of joining an MLM company.