You probably heard of Multi-level marketing from a friend, a co-worker or you have probably read it on the newspaper or on the internet. Most likely you would have brushed it off as some business or marketing jargon that does not mean anything to you at all. But, multi-level marketing is getting popular and a lot of people from different backgrounds and fields are joining in. So, what is multi-level marketing (mlm)? And, what makes it so different that a lot of people are becoming hooked?
If you search on the internet, multi-level marketing is defined by Wikipedia as a marketing strategy in which you can profit not only on your personal sales but also from the sales of those people that you recruit. Often times MLM is called pyramiding due to its structure; as the recruiter you will be on the top level while all your recruits will be your downline. Now, for every person that your recruits enlists to sign up to be a distributor, they are also part of your downline thus you also get profits from every sale they make.
There are a lot of companies that follow this business scheme, pretty much using the same moneymaking concept these companies offer different kinds of products for their independent distributors to sell. Medicines, membership, health drinks etc., you name it, multi-level marketing has it. But, before jumping on this business wagon, there are things that you should know about what multi-level marketing is and what it entails:
· Multilevel marketing may be done on your own time and pace but you must understand that effort and time are also needed to get a flow of earning. It is not a self-earning machine.
· When choosing the company you sign up as a distributor, know the products well enough that you or your downline can really sell
· If you’re not used to face-to-face selling, make sure you know other means to market; read and learn more about social networking or other areas where you can promote.
· If you are recruited to sign up as an independent distributor, ask questions before signing up. Try to be critical and constructive don’t be afraid to raise questions because it will save you time and money in the long run.
· Being a distributor for a multi-level marketing company might require you to pay a certain amount as bond, in exchange companies will give you a product of packages where you may already profit from.
· If you have a full-time job, set aside a good amount of time to market, sell and recruit. Learning to balance and prioritizing time is very important in this business.
Objectively, multi-level marketing is a good business opportunity for everyone but it may also not be for everyone wanting to do it. Identify the things that you are willing to go through like learning the ins and outs of multi-level marketing and what it really is. Your MLM success relies entirely up to you.