MLM Business: Learn More about the MLM Industry
Starting a MLM Business is one of the most lucrative business opportunities in the world. Where else can someone get started in their own business for $500 or less and have an opportunity to earn millions?
Now, don’t get me wrong here. Starting your own MLM business is no guarantee of success. In fact, few people do rise to the top of their MLM Company and become a top earner. But the people that do rise to the top do earn a substantial income. In fact, many MLM top earners make more than Fortune 500 CEOs. That’s no laughing matter.
Many people refer to the MLM business as a pyramid scheme. My answer to that is “it is a pyramid.” But MLM really isn’t much different than the corporate world. In the corporate world the people at the top of the organization make more money than the people at the bottom. That’s the same case with MLM.
Corporate World vs. MLM Industry
The difference between a MLM business and the corporate world is that everyone starts at the bottom in multi-level marketing. And anyone can rise to the top. It doesn’t matter how much or how little education you have. Your looks, weight and IQ don’t matter that much either. The only thing you have to overcome is yourself. You simply need to figure out what other successful MLM distributors did to succeed and follow their footsteps. It really is that simple.
The Failure Rate
Most people who get involved in our industry will quit before they ever even get started. In fact, most people quit within the first 90 days. They either expect immediate results or have the “get rich quick” mentality. If you want to “get rich quick” don’t get involved in the MLM industry. Instead, you should play the lottery or go to Las Vegas.
Our industry has a high failure rate. In my opinion, that’s because it’s so cheap to get started that anyone can get involved. Our industry tends to attract disgruntled employees or unemployed folks. Don’t get me wrong here I’m not knocking these folks. Instead, I want you to know that these people really aren’t qualified to become entrepreneurs or MLM distributors in the first place. Instead, they should look for a better paying job.
Also, most new network marketers have zero entrepreneurial or marketing experience. They are really just employees looking to make the transition from a job to having their own home-based business. Anyone can make this transition if they have a strong burning desire and willingness to learn. If they have those two things, they can eventually succeed in the MLM industry. If they don’t, they will fail.
The Benefits of Our Industry
If you’ve decided to join our industry, I think you made a wise choice. The benefits of owning your own MLM Business are endless. Listed below are some of my favorite things I like about owning a MLM Business.
# 1 No Boss: I don’t know about you, but I hate having a boss. If you are independent and enjoy calling your own shots, starting a MLM Business is a great idea.
# 2 No Storefront: Most entrepreneurs pay a small fortune for their storefront. In addition to the mortgage or lease, they also have to pay insurance and utilities. In many cases, this can add up to nearly 50% of their expenses. Companies with no storefront can generate larger profits with fewer sales than a company with a storefront.
# 3 No Employees: Employees are a headache. I don’t want to babysit adults. If you’ve ever managed employees, you understand how draining it can be. Employees are expensive too.
# 4 No Product to Inventory: In most MLM companies, the MLM Company handles the inventory and shipment of products. That means you won’t need a warehouse or need to stockpile your home with inventory. All you need to do is get orders and let the MLM Company process the orders.
# 5 Low Start up Cost: Owning a McDonald’s franchise can cost a million dollars or more. Most other franchises cost in excess of $100k. And that’s just for the franchising fees. That doesn’t include your lease, mortgage, insurance, employees or anything else. With the MLM industry, you can get started for less than $500 in most cases.
# 6 Great Entrepreneurial Training: I learned how to be an entrepreneur during my time in Amway nearly eight years ago. This industry taught me everything I know about entrepreneurship. This includes sales, marketing, bookkeeping, taxes, and much more.
# 7 Ability to Duplicate Yourself: MLM allows you to duplicate yourself easily. With a traditional business, you have to spend hundreds of thousands of dollars to duplicate yourself. In other words, you need to buy another franchise, get another building, hire more employees, etc. In this industry, all you need to do is sponsor someone and teach them everything you know.
# 8 Unlimited Earnings Potential: When you have a job, you are paid what the job is worth. You aren’t paid what you are worth. In MLM, you can earn nothing. If you don’t produce results, you won’t earn anything. As an employee, you get paid to show up. As an entrepreneur, you get paid to produce. If you produce a lot, you can earn millions. If you produce nothing, you get nothing.
# 9 The People: I love the people in this industry. They are self-motivated, go-getters. They are people who are looking to better themselves. They are positive, optimistic and energetic. That’s the type of person I like to associate with.
# 10 Tax Benefits: When you start your own MLM business, you get all the tax advantages that any other entrepreneur has. In case you don’t know, entrepreneurs get to deduct their expenses before they pay taxes. Smart entrepreneurs can save large amounts of money on taxes by taking advantage of our country’s tax laws.
In summary, owning your own MLM Business is a wonderful way to become an entrepreneur. As a MLM distributor, you control when and where you work. You aren’t limited to an office or storefront. You have no employees. You get paid to produce. You can duplicate your efforts through other people and earn a passive, residual income. In other words, you aren’t trading hours for dollars. You can one day walk away from your business and still get paid each and every month.
Links of Interest
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