F.Y.I. - For Your Information
Business Essays, Insights and Musings by Francine York, Publisher
"The indispensable first step to getting the things you want in this life is this: Decide what you want.".....
Ben Stein (Actor, Author, Comedian)
MLM's...Saints or Sinners?
A whopping 87% of the public does not think MLM's are legit!! How did the industry of MLM's get such a bad rap? What is an MLM? To give you a better idea of what this phenomenon entails, let's answer these and other questions.
MLM stands for multi-level marketing; it is also referred to as network marketing. The roots of multilevel marketing are intertwined with those of the Amway Corporation and its Nutrilite product line. Nutrilite was started in the 1930's! One of the main ideas behind an MLM is, of course, to make commission from people you bring into the company who sell a service or product, and who make money from the people they bring into the business, and so on and so on. Obviously, if a person does not bring others into the group, they will only earn a commission on what they personally can sell or provide.
That individual may not earn a tremendous amount of money, but they can earn additional income. One reason the concept has gotten such a bad rap is the fact that people confuse this concept with the outlawed pyramid schemes, whereby people bought into the opportunity to make money without any product or service to sell. In the end, when people stopped buying into it, the folks at the bottom were never able to recoup their investment. MLM's have products or services to sell.
The upside for people coming in to MLM's is that they get support, pep meetings and camaraderie as well as earn incomes. The downside is that some MLM's require a minimum order per month while others may require a start up fee. With its pluses and minuses, like any venture, buyer beware...in other words, DO YOUR HOMEWORK! What's the number ONE reason people don't make money in MLM? They don't advertise. A good, consistent ad can make money for years to come. Get your phone ringing, your e-mail hopping, and great prospects joining your downline.
Another important reason people don't earn a great deal of money is that they may not get enough marketing and selling training prior to starting their business. When choosing an MLM, make certain that the person who recruited you or someone else in the company, trains and supports you. And, remember, you are in business so have a business/marketing plan.
With all this said, please note that the MLM concept is very much alive and well across the world. Yes, folks, multi-level marketing companies can be found in the far reaches of India as well as the suburbs of Long Island.
Another important statistic to watch is that in the next few years, home managed (home-based) Internet businesses will number 25 million! Which probably also means that the MLM concept will continue to flourish.
"The only way of discovering the limits of the possible is to venture a little way past them into the impossible.".....Arthur C. Clarke, Science fiction writer
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