So, are you thinking about joining a MLM program but are unsure whether joining such will pay off in the long run? You may have heard of many of your friends drop out from MLM because they have not been able to generate any sales or have not been very successful in the networking business. Or you may have heard of another friend preach the wonders of their MLMs and show off their new found riches from such. If you are wondering which one of the two you will be, read on to find out the pros and cons of MLM's. 1. Your own pace- MLMs allow you to work at your own pace. Add the fact that when you have built up a formidable downline, you can pretty much sit back and watch the coins cling in the bank.
If you have the gift of gab and have a great network of charismatic friends, your potential downline can be very impressive. 2. Potential exponential increase in income- In network marketing or multi-level-marketing, your success depends on being able to a good downline, or a network of agents under you by certain degrees.
These agents will also generate sales and try to recruit other agents. The more the number of has an exponential effect on the number of people who know about the product and buy the product as well. Aside from getting great discounts on the items you sell, you also get a commission from your downline. 3.
Meeting more people- MLM will require you to meet new people and create new contacts. This is not only great for you social life. It also opens up new vistas for future possible projects. One point that would be best remembered is that business start from contacts. If you know the people to talk to, you are in a better position to start a business. You could even start a business while your MLM cranks in the cash for you.
That would mean extra income and a more fulfilling earning lifestyle. 4. Risk- On the flip side, there are risks involved when engaging in MLM's. It is easy to make projections at great income and a more luxurious lifestyle when you make a few assumptions such as my agents will recruit more agents,or I will sell more products.
These are big ifs. What if the agents you recruit all back out or quit the MLM scheme. That would leave you with no downline and you would be back to zero and scribbling on the drawing board once again. To avoid this you will have to choose your agents carefully.
Recruit those who are go-getters and persevere at the endeavors. Choosing agents haphazardly has the same effect as virtually mothballing your own chances at a successful MLM career. 5. Sales are also dependent on the product the lifeline of some MLMs is the intriguing possibility that the people you recruit could earn money as well. It is a bit difficult if the only draw to you product is the fact that your customers could earn as well.
Some products are a harder sell than most and hawking such products could very well spell the doom of your MLM career. Make sure you choose a company whose products you can believe in, and in whose quality you can vouch for, sales will come naturally. 6. Possibility of Overconfidence there is a reason why some wise man (or woman) coined the term counting your eggs before they hatch.Unreasonable expectations are a leading cause of agent withdrawal and discouragement. If you can keep your expectations small and steadily work up toward loftier goals, you are on the right track! Conclusion In all, MLM is not a surefire way to gain instant riches, but it is the closest you'll ever get to it.
A little hard work, perseverance and dedication will go a long way on your path to MLM success. Although there are risks involved in joining an MLM program, if you keep your expectations real and work hard towards your goal and make friends along the way, you are sure to find the find the road success.
Shane Woods is a top MLM Success Coach you can visit his site at Who is Shane Woods.