Multi-Level marketing (MLM) is a business model where you are compensated for your sales and the sales of those you recruit. The recruited team becomes your downline, and can produce various levels of compensation for you. Here are eight simple strategies for tapping into successful MLM strategies:
- Take the lead with your downline. Plan to spend at least 30 days training, supporting, and building confidence in those you recruit to help them develop new relationships.
- Don’t leave your full-time job. Make sure that the MLM business is a stable company and that the income is more than what you’re earning before quitting a career.
- Run your business properly. Hire an accountant and possibly a lawyer to help you understand the tax implications of an MLM business.
- Don’t rely solely on the Internet. One of the greatest keys to success is follow-up, and a major drawback to using the Internet is its propensity for spam. Word of mouth is still the best method of advertising.
- Get personal with the upline. Make sure the people above you are supportive, have a plan in place, and are committed to success.
- Choose wisely when selecting an opportunity. Select an MLM business that’s stable, has reliable products or services, a generous overall distribution, experience in the network marketing industry, is growing, and offers training and support.
- Company structure. To succeed, you’ll need to learn from mentors who are willing to teach you the system they learned.
- Educate yourself on different marketing strategies. If you excel at direct selling but aren’t computer savvy, learn how to build a website, use email, and integrate social media into your sales plan.
MLM offers a level playing field, allowing anyone to become successful in the industry. You just need to be coachable and learn from your mentors, because MLM is a business based on duplication.
Learn more about Mark Seyforth by connecting with him on LinkedIn, Facebook, and Twitter.
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, multi-level marketing