MLM refers to (Multi Level Marketing) it’s probably the smartest business venture that most anyone should consider if they are a burgeoning entrepreneur with a drive to be in business for themselves.
MLM has been around for 50+ years. Many people know high profile company’s such as; Amway, Avon, Herbalife, Mary Kay, Mannatech, Nerium to name a few. Before you embark on this path two questions to ask yourself. (1) what makes MLM and these company’s so successful (some in Billions in Revenue) and (2) why do people to want to join them?
Here are my thoughts on this matter.
MLM gives a person – much of what they would need without the high cost of a starting a new business. Namely the expenses associated with starting and running a new business; (1) Office (2) Staff (3) Office Equipment, Computer, Furniture (4) Legal & Accounting and (5) Training, Operations and Infrastructure. These fixed costs for a business is also referred to as the “burn.” As in – you are negative XX amount at the start of each month – before you generate revenue. This is usually why 2/3 of most new business fail in the first year is that people cannot sustain the monthly burn till they become cash flow positive (Revenues > Expenses). The other reason why MLM is successful is that there is a specific playbook on what you need to do, in order to be successful.
Those that accept and adopt these – traditionally end up very successful. Those that do not follow the Rule Book and Operations Guide – do not. Finally, to be in a MLM business – all you need to do is (a) find the one you love, (b) believe in the products, (c) sign up and follow the rule book on how you can be successful. There are no guarantees in life and in business but there are odds of success and if you can reduce the odds of failure (cost and experience) and increase the odds of success (proven model and management) then you may be well on your way with a unique new venture that allows you the opportunity to work and travel at your leisure and as you build a network, provide you cash flow – from potentially hundreds or thousands of people you can influence.
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