The desire to find a flexible job is very real, especially in the modern economy.
With so many jobs delving into part-time and freelance territory, it makes sense that people want to find alternate sources of income. And multi-level marketing has an enticing premise. The idea that one could make money by selling products they love.
But it is possible for someone to succeed at multi-level marketing?
Understanding multi-level marketing
The concept of multi-level marketing, or MLM, is very simple. A company wants to sell a product or series of products. But they want to do it through distributors, instead of opening a store or through an online retailer. Or they want the distributor network to supplement those sales.
Instead of taking on the task of recruiting every distributor within the network, they leave it up to the first distributors they hire. Those distributors are then told to bring in new recruits, at a steady pace. The incentive? The distributor will make money from the recruits’ sales. It will be a small percentage, but enough to make the process worthwhile.
Selling is not for everyone
Research indicates that around 50 percent of people quit MLM after the first year. Around 90 percent leave after five years. Those are interesting numbers. But what do they mean?
The first number indicates that many people assumed selling was easy. But it is not. The reality is that not every person is cut out to sell products. It is hard work. Sure, some sales can be done through friends and family. But the others involve a lot of leg work. And not everyone is cut out for that.
Treat it as a real business
A big issue for many is they do not treat MLM as a real business. They view it as a side project or a fun hobby, even though they want to make good money from the venture. It is impossible to succeed in this way.
The 50 percent who stay after a year and the 15 percent who continue after five years are the ones who take it seriously. They treat it like any other small business, just one with a lower startup cost!
But MLM is a business. And it requires the time commitment, effort and endeavor that any business would take. Without that sacrifice, it is impossible to succeed at selling products.
Sell relevant products
A product can be perfect for one seller, but completely wrong for another. A lot of people do not understand this concept. It is why they struggle with MLM.
Say a person is extremely enthusiastic about technology. They love any type of tech product. They research those products, learn about them and even buy what they can afford. But when it comes to MLM, they choose to try and sell weight loss supplements.
Unless that person also has an interest in weight loss, they should not be selling weight loss supplements. They should be finding a legitimate MLM operation where they can sell electronics or tech-related products. They have a passion for those items, which means they would find it much easier to sell such items.
Multi-level marketing is not for everyone. It requires hard work, dedication, ingenuity and a massive time commitment. Anyone who treats it as a hobby or side gig is doomed to fail.