How many horror stories have you heard about Network Marketing? Mention the words MLM and automatically people associate it with a pyramid scheme that is created to suck all the money out of your bank account.
The truth about network marketing is it can be a very lucrative business opportunity. Unfortunately like everything else in the world it only takes a few bad apples to ruin the bunch.
The failure rate is sky high in the Direct sales business AKA Network Marketing.
The main reason is because the emphasis has been on recruitment. There really are only 2 ways to make money in the network marketing industry.
- Sell products wholesale to resale
- Build a team of business builders
People fail in the MLM industry because they don’t know how to sell their products or themselves. They are told fake it till you make. Just get 5 people that will get 5 people. Write down a list of 100 people you know and pitch to them. To often people don’t join a network marketing company because they are in love with the products. They join because they fall in love with the compensation plan. As they say sell the dream!
If people where to be honest with themselves who doesn’t want passive income? For a network marketer residual income is the dream. The truth is if more people had the opportunity to earn like CEO’s of big corporations they would take it.
Have you ever heard the saying:
THE RICH GET RICHER WHILE THE POOR GET POORER
What I want you to ask yourself is why is network marketing such a dirty word? Who loses if you free yourself from your financial prison that burdens your life?
Isn’t it funny that corporations are structured similar to MLM companies. It’s weird how even governments have a pyramid like structure. Yet, when you want to take control of your life and really try to get out of the rat race you are faced with opposition from your friends, family, strangers, dogs, cats etc…
I got in my first network marketing deal back in 2007. What attracted me to it was the fact that I didn’t have to ask my friends and family to join my business. I was absolutely delighted that I could attract people to my business from around the world. People who are like minded.
To be honest I had no idea what I was doing in the MLM industry back in 2007. I failed and I failed miserably. I didn’t lose hope though because even though I failed, I still made sales. The problem I had is I couldn’t convince the people I brought into that first deal which was 48 people from around the world to do the same thing I did.
Full Disclosure: In the first Network Marketing opportunity I joined I did exactly what my sponsor told me to do. That was to buy ad shares with the team I was with. So I spent $1500 and got 48 paying members in the business I was in. The problem was when I talked to the people who paid money and joined my team. I couldn’t convince them to buy the ad shares. If they would have they would have duplicated exactly what I did.
The company I was a part of was a membership site that taught personal development. They also sent me CD’s every month from speakers like Jim Rohn, Zig Ziglar, Les Brown, Brian Tracy etc.. It was awesome! Great learning experience during that time I learned a lot about how the mind works and why people fail.
That was my first experience trying to make money as an Digital Marketer. I made sales! Sure I lost money on the deal. But I did learn that I could actually make sales online and that excited me like nothing else. Over the next few years I kept getting better and better and I went full time.
I was selling all types of things. I learned how to be a really good affiliate marketer. I learned how to create lead capture pages and build list. I learned how to get traffic from the internet for free.
I started this blog in 2006. I have a been full time Digital Marketer since 2009. I started learning how to do internet marketing back in 2003. So I have been in this game for many years.
As far as making money online is concerned. Network marketing is a great way to go. Compensation plans are generous. The freedom you can achieve from building a strong team is simply astounding. The best part and I do mean the best part is you don’t have to go door to door and ask your friends and family to join your business.
All that you have to do is find 10 people in the world that is like you. In network marketing if you do find 10 people that will roll up their sleeves and work with you. You can potentially build a powerful marketing empire.
Realistically if you get good at marketing on the internet you could bring in a hundred people into your organization overtime. If you get good at using marketing systems to do the prospecting for you you could bring in a couple hundred people. Now that is ambitious and there are lots of people out there who make decent money with only 20 to 30 people on their frontlines. Heck depending on the comp plan 10 really good people on your front line could make you a small fortune.
With all that said, most people fail. I don’t blame the network marketing companies though. I actually blame the person themselves. Because They are the ones that bought into whatever deal. They are the ones who joined a business for the comp plan and not the product.
Tips To Be Successful In Network Marketing
This post is about truth so in this next part I am going to share with you things you need to consider if you want success in the MLM industry. First and foremost you have to understand that there is nothing illegal about legitimate network marketing businesses. There are scams out there and you do need to be careful. But just because a business is a network marketing structure doesn’t make it a scam.
There are tons of legit MLM companies out there. Never join a business simply because the compensation sounds good. If someone is pitching to you and all they focus on is the money. That is a red flag that you need to stay away from that person. Comp plans are important. But really the products are more important. I don’t recommend selling anything that you don’t truly believe it.
If you want real success in network marketing be a product of the product.