Is MLM the right way to go?

Have you ever thought of starting an MLM?

Many wonder why an MLM could be the right way to start a new business. It can be a low investment to start compared to something like setting up a franchise where you could spend hundreds of thousands of dollars. Many MLMs have starting fees from just a few dollars a month to a few hundred.

The education you get when you are setting up your MLM is a great support to those around you. Most are willing to help you and stay with you until you succeed. It is also in their own interest that you succeed, especially if they are part of your upline. If you were to look forward to this same support when starting your own brick and mortar store, you would be left alone in the field for the most part until perhaps you found an online community that might be able to help.

Joining your first MLM is the easiest way to test your risk-taking strategies. Testing little by little and building up as you establish your business is a wise practice, and again, there are many that have been established to help guide you on the path to what works for them and in the industry.

So the question of “Is MLM the right way to go?” It is not always answered with a YES. If you lack people skills, you may want to develop some before you pass up your chance on a neighbor or relative. People often don’t care as much about what you’re working on as hearing about you. The whole idea of ​​”KLT” or the infamous “Know, Like and Trust” that everyone is working towards is crucial to get as you grow your business.

If you don’t have patience, then MLM is not right for you. There is no guarantee that you will earn a single penny working in an MLM. The goal, of course, is to make a profit, although this can take time as you test ads and buy marketing materials to help you. Getting on the roller coaster of people trying you out and completely rejecting your offer only to find out about it also requires a tough skin, so if you don’t have tough skin, an MLM might not be the way to go.

MLMs have made many people successful, especially when given the opportunity to promote something that they like and is useful to a large population. At the same time, many have given up all hope after trying to grow an MLM business and decide that all MLMs are the same, giving them a bad reputation. They are not all Ponzi schemes, but real ways of making a living.

If you set your right practices, develop the right relationships, and provide great content, people will come to you for advice and want to know everything you’re involved in and how you make it work.

It’s up to you to make the most of it, as I always tell my students, “You get what you put in!” Do your research first and find something that meets your needs and also your interest. There’s a lot to investigate and you don’t have to jump on the first one you come across… however, it might just be the one!