MLM (Multi Level Marketing) is a legitimate business and you can certainly create multiple streams of passive income if you do it right. If you do not have any experience in MLM and wish to consider it seriously, you have to do some research before you jump into it. I would recommend the following tips to start off:
1. Get acquainted with the ins and outs of MLM. Visit MLM discussion forums, read what others are saying, what is making them money, what is not converting, what is identified as a scam, etc. Read articles and ebooks on MLM, understand the concepts of downlines and matrix; basically get the hang of the MLM business.
2. Next, make a list of prospective MLM companies you wish to join based on your research, their market standing, their ability to fulfill your goals, their supporting your country, their compensation plan, their bonus revenue pool, your interest in their products, your ability to market their products, etc.
3. Now is the time to select your upline. Choose a good leader carefully, one who is willing to work with you and support you till you can manage yourself. Will he help you in following up and converting leads? Will he actually call up your pre-enrollees and leads? When you’re first starting out, it pays to have someone who can support and motivate you.
4. You have to understand that you need to leverage at least one or more of three things to succeed in network marketing – your own time, money (to generate leads) and resources (hard work). This business works best when you have a team that cumulatively possesses all three of these. This means that you need to look out for leaders that fill up the area you lack in.
5. Your business will take time to reach the goals you’ve setup. Remember, Rome wasn’t built in a day; and neither will your MLM business. Have patience and give it at least three to four years to reap real results. Start doing it part time along with your day job or whatever other business you have and gradually build it up. Pace yourself for the long haul, don’t stress yourself out by overworking in a frenzy and affecting your health.
6. Maintain your client list and use the services of an optin email solution where you can update them with new offers as and when you come across them. Marketing online is a great and cost effective way to do business, so you also need to learn about internet marketing and copy writing which you can use for making ads. Check out my other articles on these subjects at http://www.bharatbhasha.com/author.php/Nirjara%20Rustom
7. Its great to join new companies as you get in the ground floor and you increase the chances of building a greater downline. At the same time, its also a higher risk. Do some due diligence by asking folks in the trenches and also do some research on the internet. But since piling people is a race in this business, just signup and reserve your position before you do a detailed due diligence.
8. Always join companies that have some real rock solid products, keep away from the junk. This way, you don’t have to sell the sizzle (hype), just the steak. The key is to join the right program at the right time with the right people, continue to re-invest a part of your income in self improvement and other programs, and form co-ops with others.
9. Branding is a very important criteria in the MLM business. Maintain a habit of putting your name with every promotion you do. Once you’re known to promote only reputed and decent products, people will listen to you and also join every program that you promote. This is called “Branding Your Name And Breaking The Bank”!
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