The 10 Things You Must Know Before Starting an MLM Business was written for the person that is as confused as I was when searching for that “magic bullet” of an online business. I wrote this from personal experience therefore everything here is real, and in laymen’s terms.
#1 – Locating Your “Right” Company
No holding back here. I’m a “straight shooter” therefore I will tell you unequivocally, without a doubt, the only way to go is with a Top-Tier Direct Sales Company. Now I’m not saying it’s impossible to make money in MLM, but the numbers are simply stacked against you…and in a big way. With MLM, the attrition rate is so high and the commissions are just too small for each sale. If working and spending 5 yrs trying to build your MLM business just to break even appeals to you, then MLM may be for you.
But seriously folks, personally I wanted to be able to get there within the first year and the only way to reach 6 figures in year one is to go with a Top-Tier Direct Sales Company where the G.P.T concept resides, which simply means “Get Paid Today”. There are some out there where your commission is $1000-$9000 range PER SALE. Once you get rolling, you can see why 100k your first year is attainable.
Making serious money immediately is key, therefore finding a company with a strong compensation plan is imperative. Make sure there are no sales quotas to hit and make certain there is no tangible product to warehouse in your garage, etc. The company should take care of all of that for you.
#2 – Finding “Your” Mentor
The Right Mentor for you will be someone you feel a connection with and feel comfortable with. You will get the “warm fuzzy” as I call it when speaking to them. The right mentor will be there for you and not hide behind a website or e-mail address. They will answer their telephone and answer your questions.
You should see them as a leader, someone that has the knowledge and ability to “train you” to do the same. Make sure they have success in business and are good coaches. Unfortunately so many people get started with someone and never hear
from them again. Your mentor has to be willing to listen to your needs and be tuned into your success as well. Whether it’s a “training sale” or a higher percentage, make sure there is some incentive for them to stay with you to train and help see you to success in your new business.
#3 – Ability to Duplicate
You want a company and a mentor that has a Step-by Step system in place that anyone can plug into and have success. You want to make sure there are numerous people making money with this business, not just the heavy hitters or your potential sponsor.
#4 – Make Sure There is Training
This is simply one of the most important points. Make sure the company has a training system in place or has associated themselves with a successful marketing arm that has one in place. The training must have information of many different marketing topics such as lead generation, pay-per click advertising, social marketing and branding oneself. Other topics
included should be mind set, ongoing training, team calls, company calls, new associate training, etc.
Many companies have a communication center available or back office where archived training calls are kept for training in case you miss the “live” call which can be very helpful.
It is imperative the company or marketing arm has the ability to get you into your own “branded” website, not a company replicated website. In today’s market online you want to brand yourself as the professional leader and have people chasing you down instead of the other way around.
#5 – Limited Personal Selling, Telling or Explaining
Most people are not good salespeople therefore not good at closing and just not very good at explaining the business or commission structure. There are more and more companies that advertise a system that does all of this for you on “autopilot”. Those systems can have some success if you want to spend 50% of your gross sales on marketing. You simply cannot take the human variable completely out of the equation and have much success.
Just make sure the company has a system in place that explains the business opportunity in a simple to understand way.One that is relatively short, therefore half the work is already done for you. This will take care of the part of the business that most people fail at. It can be a live call, websites, or recorded calls, etc. If this is in place then you can spend your valuable time with qualified people that you want to work with. Serious people that are interested in making a 6 figure income. Quickly you can then run through the tire kickers and get the serious people the information on the business in a more relaxed way, therefore facilitating an intelligent decision about the business.
Make sure you will have access to others in the company or team. As a new associate you want to have the ability to call others if you need help with questions, to mastermind or whatever.
Be sure to check out part two in this series.
David Lee, Attraction Marketing Trainer