MLM Opportunity: What’s Out There and What You Should Expect
January 13th, 2009 | by Terry |
asked:
If someone came up to you right now with an MLM opportunity, would you go for it? MLM or multi-level marketing is a huge industry that continues to grow. Since the business model is so familiar and has been proven in the past to work, people tend to check out MLM businesses to see if there is a chance that it can truly deliver.
What’s out there these days?
MLM is probably one of the most ubiquitous business opportunities you can find both offline and online. Check out your local paper’s classified ads section or your community’s bulletin board or just go online. Chances are, there is an MLM business opportunity out there just waiting for you to discover.
There are several MLM opportunities you can participate in. These include:
Known MLM businesses
Some of the most successful MLM businesses have been around for decades. In fact, you may have done business with a few without your knowing it. Consider the popularity of products from companies such as Avon, Quixtar, Mary Kay, NuSkin, Amway and Herbalife. The reason why these MLM companies continue to thrive is that they have:
- A solid business system
- Strong financial backing
- Effective management
- Real products or services that offer real value and thus, are able to compete in the market
- Simple but excellent distributorship
- Fair but generous payment scheme
New MLM businesses
Newer MLM businesses or start-ups are modeled after old MLM companies. Their management teams are usually experienced marketers. These businesses often involve the sale of new products or services on an exclusive basis. Two of the most popular products or services here are health supplements and pre-paid legal services. Depending on the business, certain products have had significant acceptance and following while others have failed to build a strong presence due to a lack of product or service quality.
Get-rich-quick MLM schemes
These MLM businesses can be good or bad for you, depending on whether or not you’re on the receiving end. If you’re just in it for the money and don?t intend to use a decent means to go into business, this route is for you. This type of MLM requires you to sign up for a network marketing opportunity that is unabashedly temporary in nature. Its goal is to bring in recruits, make money from their membership fees and rake in as much cash as it can. There is no focus on real products or services or on creating sales opportunities using merchandise.
What you should expect from an MLM opportunity
An MLM opportunity should pass several criteria. Carefully check if these are present in a business you’re considering:
The team works together.
Before you consider an MLM opportunity, make sure you understand how this business works. Many beginners have been felled by the misconception that an MLM business is something you can start and then leave to grow on its own. Wrong.
MLM businesses rely on your ability and willingness to work along with your team. If your idea of an MLM business is one where you get all the credit while your team does all the work, you’re in the wrong territory. All MLM opportunities ? the legitimate ones, that is ? are based on the premise that a team that grows and works together can expect some positive advances.
The same goes for your business relationship with your upline. If you do all the job and they earn all the profits, you’re being conned of the opportunity to earn and are better off with another MLM company.
The products have value and staying power.
The problem with many MLM opportunities is that while there is a product involved, it usually is a one-time deal. How many times can you sell a water purifier to the same customer, anyway? When considering an MLM business, find out about the products ? what they are, how they work and who their market is. It’s also recommended that you find out whether these products have staying power. Otherwise, you will be stuck with an MLM business where everything is a first-time buy.
You do earn.
Yes, you will have an initial outlay in order to join an MLM business. This is usually to cover for your membership and initial inventory. However, a good MLM opportunity should be able to provide you with a fair commission for every sale or recruitment you perform. And yes, it should be able to take care of you as a valued member, provided of course, that you do perform.
Garret
If someone came up to you right now with an MLM opportunity, would you go for it? MLM or multi-level marketing is a huge industry that continues to grow. Since the business model is so familiar and has been proven in the past to work, people tend to check out MLM businesses to see if there is a chance that it can truly deliver.
What’s out there these days?
MLM is probably one of the most ubiquitous business opportunities you can find both offline and online. Check out your local paper’s classified ads section or your community’s bulletin board or just go online. Chances are, there is an MLM business opportunity out there just waiting for you to discover.
There are several MLM opportunities you can participate in. These include:
Known MLM businesses
Some of the most successful MLM businesses have been around for decades. In fact, you may have done business with a few without your knowing it. Consider the popularity of products from companies such as Avon, Quixtar, Mary Kay, NuSkin, Amway and Herbalife. The reason why these MLM companies continue to thrive is that they have:
- A solid business system
- Strong financial backing
- Effective management
- Real products or services that offer real value and thus, are able to compete in the market
- Simple but excellent distributorship
- Fair but generous payment scheme
New MLM businesses
Newer MLM businesses or start-ups are modeled after old MLM companies. Their management teams are usually experienced marketers. These businesses often involve the sale of new products or services on an exclusive basis. Two of the most popular products or services here are health supplements and pre-paid legal services. Depending on the business, certain products have had significant acceptance and following while others have failed to build a strong presence due to a lack of product or service quality.
Get-rich-quick MLM schemes
These MLM businesses can be good or bad for you, depending on whether or not you’re on the receiving end. If you’re just in it for the money and don?t intend to use a decent means to go into business, this route is for you. This type of MLM requires you to sign up for a network marketing opportunity that is unabashedly temporary in nature. Its goal is to bring in recruits, make money from their membership fees and rake in as much cash as it can. There is no focus on real products or services or on creating sales opportunities using merchandise.
What you should expect from an MLM opportunity
An MLM opportunity should pass several criteria. Carefully check if these are present in a business you’re considering:
The team works together.
Before you consider an MLM opportunity, make sure you understand how this business works. Many beginners have been felled by the misconception that an MLM business is something you can start and then leave to grow on its own. Wrong.
MLM businesses rely on your ability and willingness to work along with your team. If your idea of an MLM business is one where you get all the credit while your team does all the work, you’re in the wrong territory. All MLM opportunities ? the legitimate ones, that is ? are based on the premise that a team that grows and works together can expect some positive advances.
The same goes for your business relationship with your upline. If you do all the job and they earn all the profits, you’re being conned of the opportunity to earn and are better off with another MLM company.
The products have value and staying power.
The problem with many MLM opportunities is that while there is a product involved, it usually is a one-time deal. How many times can you sell a water purifier to the same customer, anyway? When considering an MLM business, find out about the products ? what they are, how they work and who their market is. It’s also recommended that you find out whether these products have staying power. Otherwise, you will be stuck with an MLM business where everything is a first-time buy.
You do earn.
Yes, you will have an initial outlay in order to join an MLM business. This is usually to cover for your membership and initial inventory. However, a good MLM opportunity should be able to provide you with a fair commission for every sale or recruitment you perform. And yes, it should be able to take care of you as a valued member, provided of course, that you do perform.
Garret
