There are a lot of people out there that, as soon as you mention MLM or network marketing work from home business, will turn their heads away from you in an instant. There is a statistic that 97% of network marketers fail within their first four years of doing business. With that being common knowledge, it's no wonder that people are not as inclined to join anything within MLM. Currently there are hundreds and possibly thousands of network marketing opportunities saturating the internet today. With nine out of ten of those opportunities not based on a solid five pillar company, it's also no wonder why you have so many failing at MLM home businesses.
What are the five pillars of a good MLM company?
The MLM stigma can be dispelled by a good and solid MLM company with these five pillars. The first pillar is company management with integrity and experience. Would you get marriage counseling from someone who read a book on it or just graduated from marriage counseling school? Would you get that same marriage counseling from someone who just bought the course from someone else and is now selling that counseling to you? The answer is no but in MLM it is done over and over again. We buy into something that our sponsor is selling and is new at.
The second pillar is having good and solid policies and procedures manual. Any kind of business needs to be governed correctly and any reputable business will have their policies and procedures easily accessible and available to its distributors and customers. MLM companies should especially attack the MLM stigma and provide its employees and customers with their policies and procedures and to go the extra mile to make sure everything is on the up and up.
The third pillar is having a great consumable product at reasonable prices. There are some MLM companies selling an information product or service and in that it is a one-time sale. The problem in that is you constantly have to find new customers for continued income. Having great consumable products creates residual income and makes it easier to have repeat customers and turning some of those repeat customers into distributors.
The fourth pillar is having a good compensation plan. You should calculate how many customers and distributors you would need to make $5,000 and to make a detailed plan on getting there. The MLM stigma that nobody can earn that income can be dispelled simply by your detailed plan laid out. You should not have to recruit a million people just to make $5,000. The same applies to having to recruit one person to make that amount either as most people usually don't have $5,000-$10,000 sitting in a bank to invest in your opportunity.
The fifth pillar is having a system that anyone can copy. This business grows by creating repeat customers and distributors. Once you sponsor someone into your business you then need to take them under your wing and train and help them get their own business up and running. Your goals shift from simply sponsoring new people to also training and mentoring your new distributors. If your MLM company has a system that anyone can copy then it shouldn't be too difficult to get your new distributors up and running successfully.
The life of network marketers can be rewarding and successful however, we do have our work cut out for us. It is then simply up to us to educate and inform. Help your potential customers and distributors by putting their minds at ease about the MLM stigma and arming them with knowledge.
What are the five pillars of a good MLM company?
The MLM stigma can be dispelled by a good and solid MLM company with these five pillars. The first pillar is company management with integrity and experience. Would you get marriage counseling from someone who read a book on it or just graduated from marriage counseling school? Would you get that same marriage counseling from someone who just bought the course from someone else and is now selling that counseling to you? The answer is no but in MLM it is done over and over again. We buy into something that our sponsor is selling and is new at.
The second pillar is having good and solid policies and procedures manual. Any kind of business needs to be governed correctly and any reputable business will have their policies and procedures easily accessible and available to its distributors and customers. MLM companies should especially attack the MLM stigma and provide its employees and customers with their policies and procedures and to go the extra mile to make sure everything is on the up and up.
The third pillar is having a great consumable product at reasonable prices. There are some MLM companies selling an information product or service and in that it is a one-time sale. The problem in that is you constantly have to find new customers for continued income. Having great consumable products creates residual income and makes it easier to have repeat customers and turning some of those repeat customers into distributors.
The fourth pillar is having a good compensation plan. You should calculate how many customers and distributors you would need to make $5,000 and to make a detailed plan on getting there. The MLM stigma that nobody can earn that income can be dispelled simply by your detailed plan laid out. You should not have to recruit a million people just to make $5,000. The same applies to having to recruit one person to make that amount either as most people usually don't have $5,000-$10,000 sitting in a bank to invest in your opportunity.
The fifth pillar is having a system that anyone can copy. This business grows by creating repeat customers and distributors. Once you sponsor someone into your business you then need to take them under your wing and train and help them get their own business up and running. Your goals shift from simply sponsoring new people to also training and mentoring your new distributors. If your MLM company has a system that anyone can copy then it shouldn't be too difficult to get your new distributors up and running successfully.
The life of network marketers can be rewarding and successful however, we do have our work cut out for us. It is then simply up to us to educate and inform. Help your potential customers and distributors by putting their minds at ease about the MLM stigma and arming them with knowledge.
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