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HomeBizMama
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Joined: 12 Sep 2008
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# Posted: 17 Sep 2008 23:54
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I just started looking into MLM trying to find ways to build my residual income. I've tried a few things here and there and end up quitting within a couple weeks. I do not blame the company nor program. I was just not ready for it. I did not have the proper training from my sponsors that I was expecting. All I can say is that I like the idea of network marketing/MLM. You are rewarded for advertising the business and sponsoring others.
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WARRANTIES4LESS
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Joined: 20 Feb 2008
Posts: 215
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# Posted: 18 Sep 2008 09:17
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Good point,
It is all about you, and the decisions we make are our own, so when you quit, for whatever reason, it was your decision, so it was nice to see you said it like it was, you quit after a few weeks.
The point is, you cannot hope to succeed when you quit, so hopefully you will find that opportunity which you won't want to quit, and you have better support to help you make the right decision and not quit.
Sadly, most people quit, and for the same reasons, they didn't get rich in first month. lol It takes a lot longer than a month, in fact, if most people would not listed to all the nonsense, and set realistic goals of perhaps breaking even in three months, fewer would quit the industry.
Good luck, Mike
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Savvie
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Joined: 21 Oct 2007
Posts: 36
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# Posted: 19 Sep 2008 04:48
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Such great points made here guys! I've learned some key points over the past several months from trial and error, and from people who have gained useful insight through experience.
When first going into NM/MLM, it's easy to get anxious and want to "start right away and earn money," but it really is wise to take the time to do a lot of research on opportunities... and on yourself first.
What are your strong interests and beliefs? What kind of company/product would support those interests? How much money can you initially invest (or willing to invest)? Can you afford monthly fee/autoship requirements, or is there an option of no monthly obligations? What avenues of advertising do you plan to use, and does that company allow it? Does the company/product have something unique about it, so it's not "just another one of those...?" Is the comp plan realistic to you? What are your weaknesses, and can you find a sponsor/team that have strengths in those areas? The list can go on and on, but just know what really matters to you.
Then know that it takes time. Don't give up so soon on something you put a lot of time and research into. You really have to realize that the majority of people out there earning a good income at home have been at it for quite some time.
If you've done your research and got involved in something you really believe in and enjoy sharing with others, getting through the slow days is a lot more doable.... and the good days are beyond exciting!
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WARRANTIES4LESS
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Posts: 215
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# Posted: 19 Sep 2008 07:21 · Edited by: WARRANTIES4LESS
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Exactly,
You quit, you lose, so I am glad to hear that you have learned this important component of success. There is a ton of good advice on this forum, and most will be of benefit to the newbie in any business. It takes time to builld a home or internet based income, and it is also getting more difficult, so hang in there.
The one lesson that stands out for me is one that I will never forget. I was in one MLM company many years ago working as hard as ever, and one of my downline was frustrated, wasn't happening fast enough, had only sponsored one person, etc. and was ready to quit.
I knew one person wasn't significant start after the first three months, but I had been in same situation, and I am glad I had a sponsor to get me through the tough times everyone has when starting a business. I stuck it out, but she finally quit at the three month point, where most will quit when it is not producing a profit.
but I couldn't save her, or convince her.
Long story short, that one lady who she had recruited turned out to be one of those shining stars, and as she ended up rolling up to me, she has been responsible for well over six figures in my earnings over the past decade. Not only in that MLM, but in others we have worked, so you never know, all it takes is one person to make you financially free, but only if you don't quit. If this woman who quit is ever reading this story, it would crush her. Don't quit, certainly not after only three months, some people do not jump in as quickly as others, so this lady didn't get busy until she was comfortable, and it took her three month to get her first customer, so hang in there.
Good luck to all, Mike
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GavinStephenson
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Joined: 24 Apr 2008
Posts: 89
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# Posted: 20 Sep 2008 13:37
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MLM is great and easy people just dont have a clue. I was in the same position coming from cooparate world.
Your income doesnt follow how hard you work it follows your personal growth. Doesnt make sence. How can you work harder if you not expand you mind. LOL Simple concept but people seem to think you can jump in the boat and success
Takes time but ive broken though and now i am teaching others
Thank you for this post.. took me back to when i first started and how grateful i am that i didnt give up
Peace
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DEasy1
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Joined: 26 Oct 2008
Posts: 7
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# Posted: 26 Oct 2008 18:47
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While the MLM system appears to make sense logically, it is one of those things that i have yet to see work out in practice personally. Has anyone here ever seriously succeeded with any MLM program, and if so how exactly did you do that. I am doing my homework, and I'm not hearing good thing about these programs, yet the ideas of the system seem so solid. Why is this the case?
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stardreamer
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Joined: 21 Oct 2008
Posts: 9
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# Posted: 27 Oct 2008 12:33
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Wonderful information, very helpful. Yes, it's so important to determine if an opportunity is legitimate and worth one's efforts. I find that often direct marketing companies offer products and service superior to what can be purchased in the stores. Why? Because they need to in order to successfully compete. IMO, it's important to market a product that a person believes in and would use even if they weren't building a business. Also keep in mind market trends. I'm especially excited about the opportunity I have chosen, because I'm very health conscious and benefit greatly from the product, AND health related marketing is positioned in front of a trillion $$ marketing trend.
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gelder
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Joined: 30 Sep 2008
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# Posted: 27 Oct 2008 13:33
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Ok. liked it!
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WARRANTIES4LESS
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Joined: 20 Feb 2008
Posts: 215
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# Posted: 27 Oct 2008 21:52
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DEasy1: While the MLM system appears to make sense logically, it is one of those things that i have yet to see work out in practice personally. Has anyone here ever seriously succeeded with any MLM program, and if so how exactly did you do that. I am doing my homework, and I'm not hearing good thing about these programs, yet the ideas of the system seem so solid. Why is this the case?
Good point,
Like most businesses, it takes time to become successful, and few give MLM enough time, and this is the number one reason most fail, they quit before the begin.
You are right, very few make a full time living at MLM, but some do, it is up to the individual, and since most start part time, the climb to the top is much longer than people are led to believe.
There are many things to research before choosing a particular MLM, but in a recession, you have to be even more careful. I learned this lesson in traditional businesses as well as in MLM, so do your research.
Having learned to be diversified has gotten me through all the economic ups and downs, just as focusing on recession proof businesses has this year. In the last recession, when I was in only a traditional business, it opened my eyes to diversify and focus on more recession proof businesses, and this is when I got serious about online marketing.
I have since phased out all but one of my traditional businesses and am now able to operate a half dozen online businesses, so with far less overhead and exposure to economic collapses like this one, I would never start a traditional business in a recession.
All one has to do is look at your own purchasing patterns to determine which businesses to avoid in a recession. How many things have you trimmed in your budget, as example. I use to own a traditional travel agency and in last recession, if not for major corporate accounts, I would have died like many others did, so now is not a good time for travel businesses.
Simply put, if you make a list of things you are cutting back on, these are the businesses to avoid, both traditional and in MLM. If you spend enough time researching, you will find many successful online MLM businesses, so keep researching, they are out there.
Success to all, Mike
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easierway
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Joined: 19 Nov 2008
Posts: 5
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# Posted: 20 Nov 2008 00:54
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Thanks Jeff,
I have been an entrepreneur for several years. I have looked at many different types of offline network marketing comanies, but have not had much success at them. I tried doing an online store once, and also an online mortgage thing several years ago. I spent a fortune on PPC advertising, and didn't make a penny.
I think with the current economy we are in, people need to be able to make extra income without having to fork out alot of money to get started.
I recently started looking to the internet, and I really believe that this is going to be very promising.
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WARRANTIES4LESS
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Joined: 20 Feb 2008
Posts: 215
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# Posted: 20 Nov 2008 07:13
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Good point,
Yes, this recession is a dual edge sword for the industry. On one hand, the usual MLM products will be hurt, but on the other, many more people will be coming into the industry due to the need for extra income, or to replace income from lost jobs as unemployment rises.
Again, as mentioned earlier, you have to choose more wisely in a recession and not jump into just any business. Simply analyze your budget cutting you have done in your family and if any of the products are sold by MLM's, then expect those to be impacted the most. This is one of the basics of business 101, don't go into a business that is going to be impacted most from current recession.
Success to all, Mike
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strosdegoz
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Joined: 1 Dec 2008
Posts: 9
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# Posted: 1 Dec 2008 21:29
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Great thread, i enjoyed reading through the posts.
Lots of great information.
I am also into MLM and for me is the best way to build a Long and Stable Residual Income online.
Choosing the right MLM business for you is one of the most important steps when you are starting.
You must like and believe in the products they are selling or else it will become pretty hard to sell them to others.
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dmof10
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Joined: 2 Dec 2008
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# Posted: 2 Dec 2008 05:44
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mlm can be a great business if you find the right company and have a upline willing to help you. I was in Anway and had a great sponsor. I just was not able to build a business in the company. With the economy the way it is today we had all better find another way to make money.
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shonna27
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# Posted: 12 Dec 2008 14:10
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i have stated a hundred times in this forum that im new and the one that has worked out the best for me is mlm. It does cost money(even though i swore off paying for another program but i didnt seem to mind paying because the money didnt go to the website owners it went to who promoted it to me. It is slow and most people think they are get rich quick programs and when they sign up and relize they actually do have to do something they quit. I dont have money to invest in promotions, but i do have some time and i work at it atleast 3 hours a day and i get atleast 1 signup a day. I am also still learning and as many times as i email my downline and tell them to take the time to learn also, they would rather quit than do a little research. It is fustrating, and these are the things people dont tell you. I have a wonderful product but not enough prospects that want to actually work at it.
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shonna27
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# Posted: 12 Dec 2008 14:11
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by the way great post!
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mr127500
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# Posted: 5 Feb 2009 21:58
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I agree with a lot of what is being said here. My only issue with some mlm's is the compensation strucutre. Are your sponsors incented to continue to mentor you, or if you blow it out o fthe water will you move off their downline, or if you are in a two up, after you pass up your first two sales, then who helps you and what is there incentive to do so? I work in a override comission structure, seems to work better for me. thoughts on the subject?
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WARRANTIES4LESS
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# Posted: 6 Feb 2009 22:24
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mr127500: I agree with a lot of what is being said here. My only issue with some mlm's is the compensation strucutre. Are your sponsors incented to continue to mentor you, or if you blow it out o fthe water will you move off their downline, or if you are in a two up, after you pass up your first two sales, then who helps you and what is there incentive to do so? I work in a override comission structure, seems to work better for me. thoughts on the subject?
Agreed, not all compensation plans are fair for all, so you have to weigh all these factors before choosing your MLM. When you mention 2-UP where you pass up your first two sales, called training sales by most, although these look good on the surface, most will never sell more than one, so they will quit when they see their only sale commission go to their sponsor after months of promoting. This is a back breaker for newbies who need the money fast, and this is the thorn in any of the 2-Up or even 1-UP deals.
The only way you will see success in MLM is to have a system which gets people paid in less than three months, especially true if you are forced into an autoship requirement. Most people never sell or recruit more than one, so I prefer seeing less money upfront and shared more fairly with newbies and those just starting. The idea behind this is it is far better to get everyone covering their auto ship purchases fast so they stay with business. Attrition is the killer, and why pass up commissions don't work for most.
Success to all,
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