Network marketing is strategy that stands behind many successful companies. Some of the most famous network sales’ giants are:
Companies that work in this field are selling all kinds of different products. There are also lots of new ideas that come out every now and then and that is why MLM is constantly developing for several decades now. Most people have stereotypes when it comes to this type of sales, one group considers it to be an elaborated scam, similar to pyramidal scheme, while the others are undermining this successful business model, thinking of it as a hobby for bored housewives.
Multi level marketing is definitely not a pyramid scheme and this is why it is so different:
MLM takes commission from sales, and not from new member’s contributions;
Companies that are putting MLM into practice have strong and easily understandable business models;
They provide viable business opportunities throughout the network ranks;
MLM companies are sustainable with their sales only;
They also don’t require new members to pay contributions.
When it comes to work itself there are two different approaches to MLM business from members of its network. One is from people who consider this to be just a hobby or a side job. They usually don’t last long in this business, and soon after they don’t earn as much as they planed, they will quit and start searching for some different get-rich-quick scheme (since MLM is definitely not one). There are also other, much more agile marketers and sellers who realize all the benefits of this kind of sales and use them to drastically increase their earnings. I decided to write an article that brings these hard workers in the spotlight, because they are the ones who make this strategy so successful. Here I shared some of the ideas for improving MLM business and making it more profitable and sustainable.
Invest in Technology
Being up to date with new tech is very important when running a network sales business. Big parts of it is currently moving online, with introduction of online presentations, webinars and wide networks of people connected by websites or social media pages. Internet gives us the opportunity to grow our networks, outside of our friend’s circle, which means that MLM is turning more and more into a regular online sales business. That’s why it is very important to introduce all the new multi level marketing software and start using new methods that will increase sales. Try sending products you are selling to some influential blogger for free. He/She might also join your network, and if not, they will definitely share all the product benefits on their blogs, and promote it to their audience.
Make Lots of Friends
MLM business is not for people who are quiet and don’t like mingling with others. Some of the biggest experts in this business advise us to make millions of friends, instead of millions of dollars and this is one of the best advices I have heard in my network marketing career. This business provided us with the opportunity to meet and hang out with people we work and to help them become as successful as us by giving them all the necessary training. This concept is called “servant leadership” and it functions great in MLM circles. Our revenue will definitely grow if people we lead are well trained, motivated and successful themselves. That’s why we need to serve them the best we can, so their work will also benefit our revenue.
Always Be Persistent and Open-Minded
In the first half of the article we mentioned people who give up early on MLM business. There are lots of those who enter multi level marketing for wrong reasons, and for them it is not strange to quit, but there are also some people who realize all the benefits of this strategy, but are quitting as well for various reasons. Some of those reasons are:
They earn less than planned;
They can’t handle rejection;
They are impatient, etc.
People need to know that this type of sales won’t bring them millions during the first year. This job comes with many ups and downs, thousands of presentations and great deal of rejection. That is just how MLM works. On the other hand it also provides people the opportunity for earning both profits and reputation, and for constant upgrade of their selling and networking skills.
People are constantly inventing new ways to sell, earn and network more and that is why MLM is one of the most dynamic business niches. Entrepreneurs, who work hard, constantly follow new trends and objectively review their past sales, will definitely succeed in this great business environment.