Multi Level Marketing? Here’s A No-nonsense Definition Of This Industry And How To Make It Work
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There are two aspects to a multi level marketing business. One way you make money is by selling a product or service. The other way is by bringing other people into the business who also sell the product or service. You make a little bit of money from each person you bring into the business, as well as everyone each of those people bring in and so on.
Critics of the industry talk about how you make money from the effort of other people. Every business that has employees makes money from the effort of other people. But these people are not slave labor. They also have a business from which they make money from sales and from the effort of others.
Another critique of the industry is that only the first people in any given company can make a lot of money. If you think about this logically, that is absurd. Yes, the people at the top of the company have the opportunity to make more than anyone underneath them. But that does not mean you cannot make millions regardless of when you get started.
MLMs are an excellent way to get high quality products and services to people at low costs. Other types of businesses have people in the middle who need to be paid between the manufacturer and the retail store. The markup between wholesale and retail has to be high to cover the costs of shipping, marketing, sales and all the rest of the expenses. With MLMs, the products get shipped directly to you. You are doing all the effort in sales and marketing. Without these middlemen, you can get your customers a great price.
Some people will sign up in your business just to get a better price on the products. But most will end up introducing a few other people as well. Again, even if these people just purchase products, you will get a small percentage of everything they purchase.
Each person you bring into the company goes underneath you in your company organizational chart. Each person they bring in goes into theirs, but that is part of yours as well. These people are called your downline. Your level in the company is determined by how much products or services you and your downline sell. As you move up in rank, the percentage you make from each person below you increases.
The people above you in the company are called your upline. These people will help you to learn what you need to know to be successful in this business. They have a vested interest in helping you, so you want to take advantage of that. Especially in the beginning, you need people with a proven track record to explain to your friends and family why they should be interested in this business opportunity AND you need leaders who know how to help you take things to the next level and market your business in a way that is ATTRACTIVE to people that you don’t know.
I struggled in the MLM industry for YEARS because I didn’t have the kind of advice that would REALLY help me to take my business to an entirely new level through learning marketing principles. I was good at NETWORKING but not at MARKETING. If you would like to learn how I broke through, and how to take those principles and apply them to any multi-level-marketing business, Click Here To Visit My Multi-Level-Marketing Bootcamp
If you have always wanted to have your own business, multi level marketing is an excellent way to do so. There is no other business structure where you can have the opportunity to do so well with such a small investment. The best part is, even though you are independent, you are not alone. You have the advantage of training help from above and financial help from below.