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So what will make you rich? According to Mike Dillard, the only thing that will bring results is MARKETING! Want to learn marketing ? Take a free tour at Dream Team Formula.
Multilevel Marketing, or MLM, has huge potential for income. If you sell something, you make money. If you sell on behalf of a company, you stand to make a nice commission from that sale. For most sales plans, that is where the trail ends. But with MLM, the earning potential from a single sale is much more.
Basics of MLM
In multilevel marketing, you earn not only from your own sales, but from the sales of those you’ve recruited to the program. For instance, if you have a friend or colleague sign up underneath you in an affiliate program, you have created a downline. Now, when your friend makes a sale, he will get a commission from that sale, but you also get a small commission simply for having recruited him in the first place.
Passive Income
With enough referrals, you can generate a substantial amount of passive income. You stand to gain from each person you have signup downline. And if those people recruit a downline, you make a bit from those sales as well. The building pattern continues with each new recruit and branches out indefinitely. Over time, your initial recruiting efforts will have paid off in a big way.
Even if some of your downline is unsuccessful or decides not to continue with the program, you will have many others still generating you income without any additional effort on your part. Not only that, but you are still selling your own products and earning that commission as well. The income potential, both passive and active, is huge.
Self-Employment
Perhaps the most enticing aspect of MLM is that it isn’t done from a cubicle somewhere. When you sign up to become a marketer with a MLM business, you are setting up your own business. You are, in essence, becoming self-employed.
Self-employment is not for the feint of heart, but leaving a steady paycheck behind opens up the door for unlimited earnings and unstructured work hours. In MLM, nobody cares if you work in your pajamas or slippers, and nobody is the wiser if you make all your major deals while sitting with your laptop at your local coffee shop. In fact, the only thing that matters in MLM is your bottom line. Did you make the sale?
In a traditional salaried job, you are working for someone else. The officers and upper management of any company stand to make huge amounts of money from your labor. You will be paid the same amount regardless of how much you actually bring the company and the people above you. The exception would be a career in sales, but even then, part of your commission is going to your boss.
If you are tired of working for someone else, MLM may be perfect for you. You’ll no longer be sitting in a cube all day listening to a droning boss. You’ll become your own boss, and maybe even be in charge of others. You set the hours and only your ambition and abilities set the limits.
There is a great deal of negative information about multilevel marketing, or MLM. Often it is closely portrayed to pyramid schemes or other unethical business practices. The nature of a MLM business is sound, however. The darker aspects only appear when leaders are unethical or the business in wrongly presented.
MLM Shortcomings
MLM has serious shortcomings in portrayal. The basis of multilevel marketing is to build on the success of others. A person promotes and sells a product. He recruits a friend to sell the same product and then gets a percentage of the friend’s earnings. The original marketer also gets a portion of any profits made by individuals his friend recruits.
The more affiliates signed up under a marketer, the more that marketer stands to make in residual income. Of course he is also still selling the original product and earning far more with those commissions than the small shares of downstream commissions.
The major sticking point for many MLM programs is that the business is not shown properly. MLM is based heavily on sales, and this is not always made clear to new representatives. You not only sell a product, but you also can sell the business idea to others. When a presenter claims that the product will sell itself or that you will be making money overnight simply by purchasing a starter kit, he’s selling a dream – not the MLM program.
There is money to be made in MLM programs, but the wrong program won’t ever work for you. A true MLM program focuses on product sales, not second tier sign-ups. If you happen to develop a large group of recruits, terrific, but the product sale is the goal – not the recruits. A program that focuses solely or too heavily on getting other recruits is a pyramid scheme and illegal.
Some MLM programs seem attractive because it seems all you have to do is get your friends and family to sign-up and you’ll be making money. Others require you to purchase a starter kit that has far more inventory than you feel comfortable selling. A quality MLM business isn’t pushy and doesn’t hide the truth. You are selling something which requires work and finesse. The harder you work, the more profit you’ll see – but it is still a job, not a dream vacation.
MLM Structural Problems
One of the largest problems with some MLM businesses is the management is unethical or not effective. The higher ups in a business plan always stand the make the most money, whether they readily admit it or not. When a MLM program is hyped by a manager who assures you his income is the norm or that he doesn’t have to work more than a few hours a day to make a living, he’s playing with smoke and mirrors.
He might be high enough in the plan to have a large amount of passive revenue, but he didn’t start there. Anyone successful with MLM programs learned the ropes and fine-tuned their skills and abilities before climbing the financial ladder. The rate of the climb varies tremendously by person, but one person’s success is never a sure sign of your own. There is a great deal of room to be successful with a MLM business, but don’t be fooled into believing it will happen without you steadfastly coaxing it along.
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