Multi Level Marketing - Who Makes Money?
Rich administrator Posts: 582 Site Admin
edited November 2007 in Selecting a Business
I have a genuine question:Who makes money in Multi Level Marketing (MLM) businesses? I know, I know - it`s "the hottest business opportunity ever!" But for this topic, spare me the rah-rah stuff. I am posting this question to get to the bottom of whether people are really making a profit in their MLM efforts.I am not doubting it - I just want the real, un-puffed-up story.
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You are direct, aren`t you?! I have been in network marketing for three years now and have failed twice. However, I know that if you really want the time and the money and freedom to do whatever you want in life - this is the only way!
I have now found something that I truly believe in and although it`s not a get-rich quick scheme - we will, one day, I`m sure, be financially free!
I liken it to an apprenticeship - as the years go by we learn a lot and each mistake will bring a new reward. It helps to read self-development books and realise that we are allowed to dream a little even though I am middle aged and feeling it!!
It also helps to have an attitude of gratitude!
well nice talking to you - please feel free to contact me if you need more info on our wonderful business.
Thanks for letting me know some companies are legit.
The company we are now with is called XanGo (pronounced Zango) and is only 4 years old. It`s only been in uk for 2 years and is the fastest growing network of all time!
The product is a nutritional health beverage with many benefits. One product - no out-of-stocks, and delivered straight to your door! We use and recommend - no selling involved - and the compensation plan is second to none! Our upline are the European Champions and what`s really great is they share every tip and offer guidance and support everyday. Communication is the key.
We`ve also got their upline to do 3-way calls with and he brings in around $300,000 dollars each month, so we know we`re with the right team. If we follow what they`ve done then we can`t fail, can we? you can check out our website and take a look www.tastesuccess.biz</A>
`Success comes in cans, not can`ts`
speak to you sooooon!
Do you want to speak directly to someone who has actually made it with not one but 5 companies?
If you want to hear directly from the horses mouth, let me know.
No rah-rah, no fluff, no BS....just as it is!
Contact me if you are interested with your contact details.
Thanks for your response. Rich (your name sake) is someone I had hoped you would be interested in speaking with especially if you really want the load-down on MLM at least from the perspective of someone who has made it 5 times with 5 different companies with over 29yrs experience. He will not attempt to recruit nor will I.
Myself, I am new to the industry. My background is not MLM. The people that make money in MLM are those willing to be "coachable" and willing to do what it takes in any business to be successful. $1000 in MLM is $1000 in a brick-n-motar business. They both require effort. The $1000 from MLM business may be more fun, because you choose it for the passion/product etc. Unfortunately, there are too too many ads that say retire rich in 60 days or 2 years and so on, plus no selling, no recruiting, just speak to your family and friends, or just send me their names and I will do it all for you.
Rich, the statistic of who makes money (successful) in MLM I don`t believe is any worse than the number of small businesses (brick and mortar) that close daily. But with MLM, if you have been sucked in by the hype (your fault if you are and did not checked it properly), you are doubly disappointed when you don`t make any money and you have lost money too.
I will echo some of the replies above, you need to be coachable, find a good support system in the company you choose. The latter MUST have good leadership and good products that offer a genuine advantage/service to the clients that purchase the product.
Finally, and this is MLM talk, don`t quit (unless you chose the wrong company) and give it a good 2-3 year to build your team. As with any business there will be many many rejections and low periods.........its all a part and parcel of who makes money in MLM.
Hope this help........if you still want to interview Rich for the benefit of StartUpNation Community, let me know.
Copperman. Copperman2007-1-13 4:34:24
first you need to be passionate about the business your doing, and be your first and main customer, because what would you look like trying to sell someone a product or service you don`t use. second you need to be coachable and willing to do what it takes to succeed. Third the product or service MUST fill a NEED or WANT for your area in which you choose t do business. fourth, you need to one of the first persons to bring this business or service to your area. and lastly be willing to show others how you became successful as well, be the mentor or coach to others.
You also need to be consistant to succeed. Most folks think they can join a company for little to no cost, sit back and make money. NO WAY! I don`t care what MLM you`re associated with. ONE NEEDS TO WORK! Be Consistant! Put out Ads (after all, if you owned a shoe store but did not have a sign out or a way to notifiy people of your business will people come to your store? I don`t think so!). Advertise, be consistant and don`t give up!
Well, I`ve been doing multilevel marketing for a short period of time. But what I do know is that it is important to get into a business that there is a demand for. I personally am working in the travel industry. The second thing is to make sure you come into a great team. My personal sponsors are great. They`ve really taken the time to walk me through and so I feel very confident that my success will at the least equal theirs which would certainly be great for me. And lastly, whatever you do in life, you must know how to market yourself and or your product. There`s no way to get around it. And you have to be willing to invest time and effort. If you are willing to do that you will win. If your ever interested in hearing from me personally check out my site at www.moretime4me.com</A>
I have a friend who built a 4000+ square foot home on a gorgeous pond in an exclusive subdivision paid for from her NM business. She has been with the same company for 26 years and has won the cars, trips, and other awards-- every year.
But like Kathleen said, you need to treat the business like a business. Following the rah rah hype of most companies is ok, if you always remember you`re in business for yourself.
No product sells itself. If it did, the company wouldn`t pay the kinds of commisions and give away the expensive trips and gifts-- they`d put the product on a website and be done with it. So every "opportunity" has to come with work.
Earlier this summer my friend asked me to create a training program for her down line. It went so well, I modified it to fit any MLM/NM or direct sales entrepreneur. It`s finally finished and it features real life start up business training that most of the MLMs don`t provide.
I know we`re re-opening this topic after 8 months, but hope this helps!Felicia
PS-- If you`re interested here`s the link to my product: http://www.jumpstartyournetworkmarketingbiz.com</A>.
It just seems like much of the industry is pure deception to get people involved.