MLM companies seem to be taking over the world by promising a lavish lifestyle where you determine your working hours, patterns and even location. At a glance, it doesn't take much to achieve amazing results and live the life of your dreams. Who wouldn't want to experience full financial freedom and independence, while doing the things they love? However, behind the glamorous pictures on Instagram and the testimonials of real-life MLM masters, there are some secrets the general public is often unaware of. Does it mean MLM is a lie? No, not at all! But it means there's a lot more to it than what is being advertised. Today we are going to unlock what it really takes to be successful at a multi-level marketing business. As for the question "Is it worth joining an MLM", the answer lies with you.
Who is the Main Target Market for MLM Companies?
The majority of people who join MLM businesses are stay-at-home moms with young children. It makes perfect sense. A mom gets to take care of her children, while she also contributes to the family budget. And in the case of single moms, it could be the life-saving boat she desperately needs. But make no mistake, men also join MLM businesses even though in much lower frequency.
The idea behind the multi level structure is to motivate people to sell the products and recruit others for their team in order to get more money or get a higher rank in the company. Generally, there's nothing wrong with that. In fact, a healthy competitive spirit would always make a business grow. The problem occurs when this becomes a non-negotiable necessity for an individual to feel worthy and accomplished.
Can Anyone Have a Successful MLM Business?
Anyone can join an MLM company, for sure. There are no specific skills you must have, no previous experience needed, no educational barriers exist. The only requirement is to have an electronic device, social media profiles and the desire to get yourself some extra income. Now, that's for joining an MLM. Being successful at it is a whole another story.
No, not everyone can have a successful MLM business. No, it is not the right business structure for everyone. And no, not all who sign up will get to experience the lavish lifestyle that got them hooked on the idea. Let me be clear, achieving that life is absolutely possible! However, what you aren't often told is that it's not just a couple of hours a day on the phone to get those results. It really is a combination of good choices, clear understanding of what you must do and how you must do it and a great deal of your own personality.
What is Actually Multi Level Marketing?
If we have to dissect multi level marketing, I would say it consists of two essential and intertwined parts - intuitive marketing and sales. If you want to be successful with it, you must spend a lot of time building meaningful relationships with your audience. And that's not just saying "hi" from time to time or asking them how they take care of their skin. It's constantly showing yourself as a knowledgable individual who can answer all questions about the products, before the questions have been asked! Share the benefits, but don't spare the downfalls of the product or service you offer. Too good is not good. We know that there's nothing perfect in this world, so don't sell us glitter for gold. Be honest with your audience about the minor negative sides of that amazing thing you present. That will build the trust factor between you and your audience. Some of them will want to buy from you and others will want to join your team, because they love your openness and transparency. Don't tell me there are no cons to your products or services. There are and you know it. If you don't know what the imperfections are, make it your priority to find out and share it with your community.
Let's say you are great at intuitive marketing and you are the god or goddess of establishing yourself as a leader in a particular space. Kudos to you, but that on its own is not enough to build a successful MLM business. You will need extremely fine sales skills. And when I say fine, think of fine art. You can never be too pushy or too demanding when you are trying to sell. At the same time, you must be assertive. Be there so that people can remember you and want to hear from you, but don't be in their face too much, especially, when they've indicated lack of interest in what you offer. Where is the balance? That's for you to find out.
What are the Key Factors for Success in MLM?
Before you jump into such a venture you must research the company you are joining really well. It's not once or twice that people have been terribly scammed by ponzi schemes, pyramids and disloyal MLM companies. But even if you know that the brand you want to work with is serious and you feel relatively safe taking the risk, that's just one of your worries.
The Point at Which You Join
Ask yourself at what point of the development of the company and the product you are joining. Is it at the very beginning when the product is relatively unknown so you have plenty of space to grow? Are there many other people in your social media community who are doing the same thing and with whom you will have to share an audience? How different can you be from them to make that audience attracted to you and not to the other teams/competing consultants?
If you are an introvert by nature, you will find it really hard to make progress in an MLM environment. This structure is all about connections and relationships. If you don't feel comfortable starting conversations your sales and your recruitment will suffer. At the same time you cannot afford to be the omnipresent extrovert who will message everyone and anyone. If you have been doing it, stop that! It's really annoying. Be the kind, knowledgable and ready to serve leader, who inspires and sells by example, not by a recycled pitch.
I hope the picture is much clearer now for those who wondered if it is worth joining an MLM business. Like every other type of business, it is a lot of hard work, there are many sacrifices involved and it is far less easy to succeed in it than the industry makes it seem. Is it a profitable business? For the right individual, certainly yes. Are you the right individual? Let me know in the comments.