subject: Is Mlm Right For You? [print this page] Is MLM right for you? Is MLM right for you?
What is MLM?
MLM is the abbreviation for multi-level marketing, which in some instances is also referred to as network or referral marketing. It is defined as a specific marketing structure that is employed by a number of different companies as a significant part of their advertising and marketing strategies. It is used to create a sales force and compensates those who promote and sell the company's products while creating a residual income in the process.
Additionally, individuals are also compensated by virtue of the sales and marketing efforts of others that they have personally introduced and brought into the company. These people that are introduced into the company underneath that individual make up what is called that persons downline of distributors and hopefully results in multiple compensation levels. Typically, an MLM company and its products are marketed directly to the consumer as well as a person who could be a potential business partner.
Deciding if this is the right business for you
There are a number of things to consider before you spring off that MLM diving board and wind up in the deep end of the pool. Ask yourself the following questions:
oAre you a loner or do you prefer working with people?
oCan you develop a 3-5 year success plan and stick with it?
oCan you handle being coached?
oDo you have a problem with self-improvement?
oHave you been looking for a way that you can generate an income by creating and perpetuating your own home-based business?
If you can answer all of these questions with a YES, then a multi-level marketing business may just be what you have been looking for.
7 steps to selecting the right MLM company for you
If you have decided that multi-level marketing is the way to go, here are some things to consider before choosing the company to work with and signing on the dotted line:
Step #1: before you make your decision, do your homework - in other words, make sure you research each company you are interested in as thoroughly as possible, whether this company is land-based or operates online.
Step #2: look at the types of products or services that the company is offering are these products something that you or other people would use on a regular basis? Are they valuable products or services?
Step #3: interaction with other MLMers is important we cannot stress how critical this is. You need to be able to have access to a forum where you can interact with other individuals so you can ask questions and receive the proper information you need.
Step #4: understand the requirements involved for being compensated look for the obligations that you need to fulfill in order to be paid for your efforts. Find out if there are fees associated with being a member of the company as well as watching out for hidden fees.
Step #5: look for a company that works together with its distributors in order to achieve a common goal additionally, make sure that everyone involved benefits from focusing on that goal.
Step #6: if you know someone who is a member of the MLM company that you are considering, get their take on things find out how they feel about the company where effectiveness and being sufficiently compensated for their efforts is concerned.
Step #7: investigate the companys owner (if you can) are they accessible and can you speak with them one on one? Investigate their business practices and how they conduct their business.
If after all your research you are comfortable with the seven steps above, MLM just may be right for you!
