How To Get Success In An MLM Business
Success Quarterly is a tech and business blog that focuses on the intersection of Silicon Valley and Hollywood, including technology, business, mobile, entertainment, media, and related topics.
A lot of people start working in direct sales as an upline member or leader. This can be difficult at first because there is no telling what products or services their downline will get you for more money.
It is important to remember that while it is wonderful to make money through selling, not every person who joins an organization will make enough to survive. It is also common to feel like your income decreases as time goes on, especially when leaders are paid less than you are!
There are ways to deal with this, however. You could try being self-employed and owning your own business, but instead choose from an already established company that has done its part to help you succeed.
Many companies offer you free merchandise if you work towards meeting your goals, which helps boost profits. Companies may pay you special bonuses for achieving certain milestones as well, making it easier to keep up with lifestyle changes.
In this article, we will talk about some different types of online businesses that do not cost a large amount of money to set up. There are many opportunities available to anyone with a computer and an idea. What makes these particular industries successful is how they market themselves so that others join them.
Pick your team
As we have discussed, being an effective leader is about having loyal people that believe in you and are willing to go the extra mile for you. In addition to giving their full support to you, they will also share your vision and help you achieve goals set out for the company.
In this article, I’d like to talk more in-depth about picking your team and what it means for your business. First, let us look at some examples of teams that succeed.
The Facebook Team – Who Is On This Team?
The success of the “Facebook team” as many call them comes down to one person: Mark Zuckerberg. He is the mastermind behind not only the social media platform but the company that grew from there!
As mentioned before, he hired great leadership which allowed him to enjoy the success he has now. People who work under him say his leadership style sets high standards and encourages others to do the same.
He expects his colleagues to bring the same level of quality into the workplace every day and rewards those that do with praise and recognition.
His teammates feel motivated when they see how much he cares about the organisation and himself as CEO — he works hard and puts in time outside of working hours to promote the brand.
Know your market
As we mentioned before, not every person is going to enjoy being part of an MLM business. If you are not sure if this style of marketing is for you, do some research into the product or service that your potential employer represents.
Does their audience seem like they would be receptive to their message?
Is there already a source of income for them, making it easy to promote their products?
If so, then your job as an affiliate is to find a way to add their products to that income stream by creating a sales funnel.
That will come later though! For now just make sure you know who your target market is so you can advertise to them effectively.
Create a company
Starting an internet business is not like starting a traditional small business, where you can be an employee at a big firm after college or start your own consulting business. In fact, it’s more similar to investing in a stock index fund!
With a multi-level marketing (or “network marketing”) business, you are actually creating your own company. You will need to identify what products or services you want to sell, and then find people who are willing to buy them from you. It’t about who you know, but rather what you know that people may need.
The difference between a pyramid scheme and legitimate multilevel marketing is that with the first, you get paid for referring new members, while with the second, you are directly rewarded for selling product and/or service.
Choose your business structure
As we discussed, there are two main types of businesses that rely on having people join their team as sales representatives. These are referred to as direct selling companies and multi-level marketing (MLM) organizations.
With respect to the first type, what most people refer to as a “direct sale” company is actually an indirect sale company. That means instead of you directly offering a product to someone, your teammate or team member does.
For example, say I work for a nutrition firm that sells protein shakes. My colleague may offer a different brand of shake – even another one from my boss’s company! - but it will be marketed as part of her job so she doesn’t get paid more because of it, which would violate the spirit of independent contractors.
This isn’t direct competition for me, however, since I’m still paying my bills with the same income source. It’s just not going into my wallet quite as quickly. And perhaps more importantly, it can hurt my trust in my employer by creating a feeling of being tricked or misled.
Choose your leadership structure
Develop your team
As we have discussed, being an effective leader is more than just giving orders and motivating people to follow you. It means developing relationships that are strong and dependable so they will always be there when you need them.
In any kind of business, from selling products to working for a company, your success depends on those around you.
People who work for you will make or break your career, and people you recruit into your own team will influence the rest of your life. They will either stick with you and help you succeed, or they’ll go somewhere else where they can achieve their goals.
The best leaders know how to develop these relationships. And the most successful entrepreneurs understand this truth about leadership.
They spend time getting to know everyone on their team, meeting half-time at every lunch, taking breaks together after work, etc. These things matter!
But what if you don’t like the people on your team? What if they make it hard for you to do your job because they don’t trust you or agree with you about something important?
As a leader, you must be able to put aside your personal feelings and focus only on doing what is best for your team as a whole. You must be able to promote harmony and unity among them instead of creating conflict and argument.
Be a good leader
Being a successful independent business owner takes leadership. You will have to motivate yourself, inspire others around you, manage your time, be organized, and keep learning constantly. Above all, you need to believe in yourself and what you are offering people.
If you’re not sure who you want to reach out to for help, don’t worry about it! There are many great resources available through friends, family, community members, and online forums.
By investing in your own personal growth and that of those around you, you’ll find success in the long run.
Design your marketing plan
Even if you have no experience working in this type of business, that is not a reason to give up! You can still get started in direct selling by designing your own marketing strategy.
The most common way people start their career in multi-level advertising is picking one product or service that they are passionate about and developing an advertisement or sales pitch for it.
They then use that advert to promote their product (with changes to the message and tone) until they find someone who will buy from them. It is similar to how professional speakers gain exposure – they create a speech or talk about a topic that they are very passionate about and then share it with others.
So, why not do that as a beginner? Find a company that offers a quality product that you know about and that could use some more customers. Then, develop a conversation about that product using reasons that relate to yourself and your personal lifestyle.
This way, your audience does not need to worry about whether you are telling the truth or not because if you are talking about something that you believe in, then they will trust you. Your followers will also feel confident in you and your products when you work hard to make sure that everything is perfect before promoting them.