Archive for February, 2010

Can MLM Really Make You Money?

Can a person really make a comfortable living doing MLM? It’s one of the most frequently asked questions these days. And I’ll start by telling you that the answer is an emphatic YES! You can, but you have to do it right.

In my opinion MLM is the most wonderful business concept ever invented. This is a system where ordinary people can Achieve Extraordinary Success by promoting a product or service.

Here’s a business model where people do not succeed because others failed, instead, rewards (in commissions) are distributed among a team of people across the “network.”

We know many people have gotten their fingers burnt trying to run an MLM business. But don’t we also know numerous folks who have built an unbelievable fortune with their network marketing business?

So that’s the point; for every one person who fails in MLM, there are several others who have succeeded in this same activity. The difference lies in how MLM or network marketing is approached.

One thing is sure: MLM is the easiest method to make money on the internet these days, especially for one just starting out. It doesn’t matter what educational qualifications you have.

This is one platform on which a professor and a gardener have an equal opportunity to succeed. Here, it is the strength of your desire and mental discipline that determine your success.

Imagine earning substantial income from a business activity even when you are no longer working as hard as you used to. That’s MLM. This is one business in which you can decide to work hard fro one year or two, and then decide to take things easy.

This is because some money-making processes in network marketing are virtually automated—either to bring residual income or to run on auto-pilot, requiring just occasional input from you.

But to succeed in MLM, you have to wean yourself of the work-for-salary, or work-for-the-boss mentality. See yourself as an entrepreneur. Think like one. Decide that you are going to stick around with your MLM business until you see the result you expect.

Be inspired by the many MLM success stories (and yes, majority of the earnings claims are no empty hypes, many are true!) Fight discouragements—either as a result of self-doubts or due to negative comments from “friends.”

To make money from your MLM business, you also have to pay strict attention to your marketing strategies. It is not for nothing that this business is called Multi-Level Marketing. Even if you decide to call it by its other name, Network Marketing, the term MARKETING is still very central.

You see, it doesn’t matter what aspect of this business you choose to do, you’ll have to master the basics of marketing. And here, I mean marketing both yourself and your product or service.

Something else that’ll ensure you’ll make money in MLM is your consistency and focus. Once you’ve chosen a reliable company, product or service to partner with, remain focused. Don’t jump around, and don’t stop to implement your strategies.

Remember that all worthwhile achievements take time. Overnight riches rarely occur in MLM, if ever. A measure of consistent efforts and time will have to be invested by you before you’ll see any success in your MLM business. On the other hand, impatience and vacillation are sure to bring failure.

Of course, there’s need to constantly update your strategies. Know that MLM is a knowledge industry. Only those who stay on top of things will achieve lasting success in this industry.

Various aspects of network marketing keep evolving—lead generation, prospecting, recruiting, and marketing itself. This calls on you the marketer to continually update and fine-tune your strategies so that both you and your products will remain “hot” or attractive in the market.

Network marketing or MLM can be very lucrative. Get involved in some aspects of it today. If you are new to this activity or would want to learn sure ways of making money with your MLM, I invite you to get my FREE 5 Day Lead Generation Training Course.

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Ever since THE SECRET was released a few years ago, this body of teachings has been attracting all sorts of comments. THE SECRET, both the movie and the story are intended to help us see that there is a secret behind the attainment of anything and everything – good health, relationships, all the way to money and riches.

But the approach it recommends for the attainment of these goals is what has left many wondering what to believe.

It would help if we can do a brief summary of these teachings, so that you, the reader, could compare the teachings with what you already know and or see what lessons there are to be learnt from The Secret.

Due to time constraints, we’ll examine only what The Secret teaches about money and relationship.

Ready, Set? Let’s go:

Money: THE SECRET teaches that money is a form of energy, a magnetic energy it is called. It further states that you are a magnate, attracting to yourself all sorts of things through the signals that your thoughts and feelings send out (this last sentence is in fact The Secret’s general assumption in its every teaching). It then went on to recommend how you can attract money to yourself:

Be clear about what money you want to have. Forget about how much you can earn; focus on how much you want. You must fall in love with money, regardless of how much of it you do have. Never think or talk about a lack of money.

Act from the mindset of already having and spending all the money you intend to have. Feel certain that money is coming to you, effortlessly. Force yourself to feel wealthy, look for and appreciate wealth wherever you go, including those of others.

Love yourself and believe that you are worthy of an abundance of money. Try and feel good; the emotions of joy and happiness are strong money magnets. Money is a mindset. It is either attracted to you or repelled from you depending on your thoughts.

Relationships: THE SECRET teaches that any and every relationship can be transformed. The relationships that we do have are reflections of our thoughts and feelings. To transform any relationship, it makes the following recommendations:

Love yourself first. Make a list of hundreds of wonderful things about you. Add to the list everyday. You are perfect. Think nothing negative about yourself. Believe you are deserving of anything you can possibly want in life.

Look for and only focus on the positive side of other people. Don’t ever criticize anything or anybody. Happiness is an inside thing.

Make your happiness the no.1 thing in your life. Don’t kill yourself trying to make others happy; just love and respect them enough and they’ll find their own happiness. De-emphasize those things about others that don’t make you feel happy.

And don’t expect people to behave the way you expect. Know you can control your happiness. It is a choice. And you can be happy despite what anyone else is doing.

Here Are My Thoughts: There are both universal truths and controversial statements in the teachings above. But since I’m by nature positive, I’ll focus only on the beneficial aspects of The Secret (or am I already being affected by its recommendations?)

Concerning money, you’ll agree that a person’s mindset has a lot to do with how much money they can make from an activity. A network marketer, for example, who doesn’t think he can make a comfortable living from this business, will not approach it with the seriousness it deserves.

So on that count the secret is right. But how about loving money for its own sake? We have to disagree there. We need money to take care of things, but an emotional attachment to it is often very destructive.

Coming to relationships, well, there isn’t much to disagree with there. You sure need to love yourself first in order to attract the affection of others. But are humans perfect?

The secret says so, I don’t know in what sense. But we should be flexible enough in our thoughts so that we’ll be willing to accept it when an obvious error is pointed out. It is the correction of errors and regular improvements that bring progress, for indeed humans ARE NOT perfect!

However the secret was on point when it states that happiness comes from within. I also agree that most relationships can be transformed. Same goes for its recommendation that we should all focus on the good side of others (praying they’ll do same for us!).

An MLM team leader can surely motivate his or her team members if they focuse on the little things they’re doing right, while de-emphasizing their poor results at the moment.

The principle is also great for inter-personal relationships. So, The Secret, it surely contains valuable teachings for the discerning mind.

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Developing multiple streams of income is very important in today’s economy. MLM and home-based businesses have taken the global economy by storm. This is partly because most persons are just now realizing that it doesn’t make sense to work for 40 years and then retire on ⅓ (one-third) of what was never enough in the first place.

And for another, stock investment has repeatedly proven to be a high-stake game that you should only play if you can foretell the future. As for real estate, well, how much money do you really have to begin with?

And if you’ve ever tried starting a business before, then you probably know how hard it is. The huge start-up fees and equally huge uncertainties mean that you are risking a lot in both money and emotions.

And what happens if no one shows up to patronize you when you open your doors for business? These things happen. And each time it happens, that’s someone’s dreams gone—along with their life’s savings and a piece of self-confidence, all gone.

This and many more are the challenges that are making everyone to rethink their approach to starting a business in this New Economy. Meanwhile most persons definitely need to establish additional sources of revenue to supplement what they’re making from their daytime job.

Call it plan B. After all, if our income goes out through multiple sources, shouldn’t we also try and earn from multiple sources? Getting another salary-paying job is out of the question.

Home-based multi-level marketing businesses have undisputedly become the major vehicle that’s now pulling many ordinary people out of poverty and providing countless others reasonable supplementary incomes.

It is the number one source of real income for a new entrepreneur. I strongly recommend you establish a stream of income for yourself in MLM. Those numerous testimonies around us are not all empty hypes.

Pioneered by the food supplement industry, home-based business opportunities abound in virtually every industry segment these days—telecommunications, insurance, healthcare, legal services, and of course food supplements.

Each presents a genuine home business opportunity that is capable of giving you a standard of life you never even imagined possible.
Most MLM opportunities are typically cheap to get registered in, and you don’t need specialized skills to succeed in them.

Each one typically requires you to follow a business model that’s already well laid out for you. Moreover most network marketing companies have training programs for new members. You surely need this training in order for you to understand both the products and their marketing methods.

In Multi-Level Marketing, your primary responsibility is to promote the products and build your downline. Once you get started in this way, whenever you sell the company’s products or sign someone up into the business, you earn a commission.

And whenever any of the people you signed up make a sale or sign up some more persons, you also earn a commission. You can make a substantial and recurring residual income in these two ways.

It could even get to a point where you are at the top of a really large chain of distributors. This will position you to benefit immensely from the efforts of many people who are following a well-laid-out business plan.

That is basically how network marketing transforms ordinary folks to multi-millionaires. Note that this is very different from pyramid schemes which typically involve paying those at the top of the pyramid with the MONEY contributed by newer members.

In pyramid schemes, no practical PRODUCTS are ever marketed. But in network marketing or Multi-Level Marketing, the products are at the core of the business; and they range anywhere from healthcare to telecommunication products.

In all, MLM is an excellent business model, and it provides a great method of developing a residual stream of income.

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8 Habits That Bring Financial Independence in MLM

Does the prospect of being financially independent mean something to you? If you answered yes, welcome to network marketing.

It is your surest route to earning extra income from home to help with family budget, while gradually scaling your way towards the attainment of your grandest financial dreams.

But you must be prepared to learn and implement the techniques that would make that happen. Especially you should learn and master different sales and marketing techniques.

It’s amazing how many people believe that salesmen are born. Don’t believe any of that, unless you’ll also accept that a person is born a doctor or lawyer, or accountant. Yes, a few idiosyncratic traits may quicken our mastery of some of these professions.

But none of them can be practiced solely on the basis of what a person is born with. To succeed in these and any other profession, you need to be trained not only in the basic techniques of the profession, but also on how to apply these techniques to produce results.

In MLM, sales is of the utmost importance. It is a profession, too. Yes, in any trade, including sales, you’ll occasionally use some of your inborn abilities, but a lot of what will spell your success will come through education and training. And that is also saying that a failure to acquire these other traits have led so many network marketers down the path of failure.

So what are these habits that combine with sales to bring you financial freedom in MLM?

Be Positive In Your Attitude: success in any business is 90% attitude and 10% all other factors. Imagine the effect on your business if 90% of what powers it is destructive? We all need to discipline ourselves to develop constructive thinking habits.

Expect the best for your MLM business. Don’t think you can’t make it. Don’t think that being a salesperson reduces your status in any way. It’s all an attitude.

Just think of what will happen to the economy of this country if no salesperson takes any order for just 24 hours! So sales make the wheel of the economy to turn. Be glad you’re a part of it!

Have a Goal: little is ever accomplished without definite goals. So what is it you want to accomplish with your business? Is it to make enough money so you can send your children to a good college? To buy your dream car or house? To move to a choice neighborhood?

Whatever your goal, the important thing is that it must be so dear to you that you’ll be willing to do anything to achieve it. It also helps if your goals are realistic and time-bound.

Be Disciplined: when working for a boss, some of us rise up early, get ready and get to office on time. But when presented with an opportunity to be their own boss, some throw away those fine habits. At 11 am they are still in their bathrobe, or taking one more cup of coffee! How can a person succeed like that?

Be Enthusiastic: passion is like the fuel you need to propel you in your pursuit of financial independence. Enthusiasm has an energy all its own. You’ll especially need this to take you through the low points of your business.

Expect Rejection: yes, and plan how to react to it. Remember that sometimes when prospects say “no” to your solicitations, they are either asking for more time or more explanation from you. Indeed a “no” may actually help you improve your sales techniques. So don’t take it personal.

Be A Good Learner: MLM is a knowledge-based profession. How much you achieve often depend on what you know and who you associate with. So constantly update your knowledge in several areas of the business—prospecting, recruiting, marketing, etc. Also, surround yourself with good, selfless leaders in the industry.

Show Interest in People: remember that in MLM you are actually selling “assurances”. Yes, people buy only when they are convinced that you have their best interest at heart. So show genuine interest in people, be honest. It’s not all about the money. People have a way of knowing when you really care.

Manage Time Wisely: this may sound like item 3 above. But the emphasis here is on scheduling all your activities. Ensure necessary tasks are never left hanging. And avoid procrastination.

These are steps which if conscientiously implemented will bring you the financial freedom you’re expecting in your MLM business.

I have put together a FREE 5 Day Lead Generation Training
CLICK HERE FOR YOUR FREE ACCESS!

Related Articles:

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P.S.: If Your Upline Does Not Have a Step-By-Step Blueprint For Success, Check This Out (Unless You Already Have Too Many Leads) –
CLICK HERE FOR INSTANT ACCESS

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