Many people join the network marketing business because they see dollar signs. They are lured into a venture often because of the compensation plan. The fast-start bonuses, the matching bonuses, the matrix income are the all key components to their decision. There is no time spent analyzing the company, the market for the products/services or the products themselves. Interestingly enough, if the entry cost were to be tens of thousands of dollars (like a franchise) then those would suddenly become the keys factors in the decision making process. What this addresses is the "get rich quickly" mentality that has developed in our society "with little or no investment".
Having spent years in the industry and after trying different types of products/services it became very clear to me what the secret for continued success really is. It is the product and the passion you develop for the product. Part of the reason why health products do so well in this industry is because it is easy to talk about(and see) what the difference the products make. Take weight loss as an example. If you (and others) have lost 10lbs. in 7 days isn't it easy to talk about it? In fact many might say "Well, Bill, you really look good today. Is there anything you are doing or taking?" You don't even have to sell anything!
This comes back to the basics of the industry which should be...word-of-mouth. Now if you join based only on the allure of the big income, then the word-of-mouth concept is weakened considerably. "So, Bill, how much money did you make last month?" is a more difficult question to answer, especially when you first start. Over time this selling point weakens, people start quitting and the company goes out of business. Those companies that make it always have a strong product focus. Think about Mary Kay, Avon, Prepaid Legal, Herbalife and even Amway Global.This is why the core that keeps the juice companies in business is the drinkers.
So the key to a lasting success in your MLM business is going to be the products. You must be a user yourself and then you must be passionate about these products. Word-of-mouth is telling not selling. If you are not a user how can you tell? If you have to revert to the "big bucks" story then you might make some quick money but that perpetual income we are looking for will not materialize.
If you have found a company with the right products for you, then it is also important to take a look at the rest of the equation. We will cover these aspects in subsequent blogs which will include Company/Owner history, compensation plan, available marketing tools and training.
- PRODUCTS + PASSION = PERPETUAL INCOME
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