There are many people searching for ways to make money smartly online or offline and most of the time, they landed with a Network Marketing or MLM related business opportunity, yet they misunderstood the way these businesses works and “miss the wagon” or “miss the wave” to make it a financial success for their future.
Many thought that “as long as I tagged along with the Expert or Guru, I will become an Expert myself”. Some even believed that “If this Expert or Guru makes a ton of money or sales then I will also be able to make a ton of money or sales too”.
This myth or trap had caught many people off-guard and they end up spending hundreds or thousands of dollars that resulted in wasted time and effort on their part. The library of digital stuffs that they purchased and stored on their hard drive becomes known as “digital dust” over time.
If you want to “survive” in this industry, you must learn how to protect yourself from those myths or misconception shown below:
Myth No.1: “Start from the Ground Floor – You got to Join Today!”
2 Questions come into mind:
1) Does it mean that those who join after You will make lesser money than you do?
2) Will these new Company last for another few years or more?
What’s if you work so damn hard to build a good residual income and the company closes down 2 years later? Isn’t it a waste of energy and time Plus you lose all your credibility as a Business Leader because those who came after you will suffer too.
A good company usually lasted more than 5 years and are stable and financially strong. They are constantly improving or innovating their products and services over time. The value of their product is always justifiable when compared to the pricing of the product that people are paying for.
There are many such companies in the market and I have tried and tested Amway, Nuskin, Forever Living and WorldVentures.
I’ve seen many others embracing such opportunities knowing that they can earn money through their own hard work or efforts. Because these companies had been proven legitimate and fair over time, even professionals and specialists were seen getting involves with such businesses.
Myth No.2: “You Can Make Great Profit In One Month”
It is sad and unfortunate that there are many people out there on the web claiming that you can make money very quickly online and most of the time it has something to do with Network Marketing or MLM related business.
What the newcomer DO NOT KNOW is that some of these so-called Gurus have already established their network of partners or affiliates for a long time and are already generating a residual income of thousands of dollars in a month. BUT they never tell you that it will not happen if you build from Scratch. They could have been struggling for a number of years already and since they are making good money now, they claims that it is easy to generate those money almost instantly.
If you do a little mathematic you will understand what I mean.
Let’s say you joined an MLM company today and their commission is $2 to $5 per person you recruit, so in order for you to make that $2000 to $5000, how many people do you need to recruit?
Answer : 1000 people (minimum)
My question to you is:
How long will it takes for you to sponsor these amount of people ?
Is it possible? Of Course! But it will take time. Definitely not in days or weeks, perhaps months!
Myth No.3: “Recruit a lot of people and making a lot of sales and you will make a lot of money”
Whoa! As far as I am concerned, I think this is the number one reason why most people fail in Network Marketing or MLM or Direct Sales.
When you tell people “to recruit more people and creating more sales and as a result they makes more money” that ALONE became their initial EXPECTATION and when they do not see the result they were “promised” or “coerced” into believing, in a short period of time, they starts to doubt the business or the opportunity that they have gotten into.
To make matter worse, most MLM companies today wanted their distributors to show their commitment by fulfilling a monthly requirement in order for them to qualify for bonuses, commissions or perks that is available to them. That is how the various level of Achievement comes about.
This requirement fulfillment has been named differently by different MLM organizations. Example of such:
- Quota (similar to the Conventional Business)
- Automatic Re-Ordering
- Monthly Subscription
- Standing Order
- PV ( Products Value )
This is one area that most of your Upline Leader NEVER tells you until you have joined the business.
Majority of the newcomer to MLM fails to fulfill this requirement and after spending months of such expenses and still not making the money they want, they QUIT!
Of course, it is fine for those who understand these requirements for they are like your “monthly rental” in conventional businesses. How can you run a business without any capital or overheads? To think otherwise disqualified you as an entrepreneur or businessman!
Sadly to say, there will be some quitters who claimed that they got Scammed or Cheated or that the company is not fair to them. These sore losers might even become future “DREAM STEALER” that stops people around them who wanted to explore or join a Network Marketing / MLM business opportunity. Their opportunity to bad mouth the industry can be so strong that it creates a misunderstanding to those who have not attempted MLM yet. So Sad!
How I Justify Those Monthly Fulfillment or Requirement :
Treat your Monthly Repayment Plan like a Business rental or overhead that you must commit monthly in order to make the money you want. Then work very hard to find your customers! What’s if after a period of time, you are earning more than your monthly payment, then your business is already PROFITING, am I correct?
When you are in a conventional business, do you have to pay your rental every month irregardless of whether you have customers or sales? Of course you do!
Ultimately, you still have to find your customers to get into profits!
NOW, compare the $dollar value involve, which business has lesser investment risk? Of course, the MLM businesses. So, what is the problem?
One more myth to go,
Myth No.4: “You Are Starting From The Top”
People with an employee mindset will feel that you have “joined at the top” and that you are bringing people in to be “under you” so that they will make the money for you.
Actually, it’s the reverse. You are building from the Bottom.
In the beginning, there is no one in your business. You only have a Dream and you get helps from your company as well as your Upline Leaders and System.
Archimedes said “Give me a lever long enough and a fulcrum on which to place it and I shall move the world.”
Look at the picture below and I will use the Support or Leveraging concept to explain…
You start to find 2 persons and place them in your foundation or structure. Then You personally support them from below. They are heavy at first but you continue to support them.
After a while, you have 4 persons from the 2 earlier persons you started with and that makes you even more stable YET you keep on supporting all of them and eventually you have enough people to have a solid “foundation” with the continued support that you provided.
How Do You Support Them On Your Own?
These people whom you had recruited are supported with the provision of training and education by the company or your system group because it is necessary for them to take their first step as a marketer of your business opportunity.
When they have learnt enough, they in turn help other people to understand the opportunity that they have on hand and also support these new prospects when they get involve with the business. This is known as the Duplication Process! By doing so, your organization grows. That is how and why the Network Marketing / MLM businesses became such a formidable force in this age of business development.
To put it in a simpler term, imagine this:
In the beginning your job is to recruit or sponsor a small number of people and support them, you encourage them to generate sales. Then you teach these people to do exactly what you have been doing.
Once your group of people grows, you will start to develop a growing organization that has the potential to grow rapidly or wildly into a momentum that even you could not stopped it. Reasons being, that some of your downline leaders might have a bigger goal or dream than yours. They will NOT STOP even when you ask them to.
That is a fact and reality! And that is also the main reason why it is never too late to join any business opportunity of such nature! You could easily surpassed your Upline Leaders in term of earnings or organization when you work harder and smarter than them.
This is why Network Marketing, MLM or Direct Sale businesses are fair and that is the reason why it is getting so popular these day, and with professionals and specialists such as doctors, lawyers, engineers and others joining the profession, why shouldn’t you?
Without looking at the graph above and the one below, honestly answer my questions below,
- Did the thought “Pyramid” comes to your mind earlier?
- Did the thought “The Top Person Is Making All The Money” comes to mind too?
- Isn’t this graph similar to Job place or “My Working Organization“?
Isn’t it ironic that most people think the same when presented with a business opportunity that has an organization chart that looks like the above and worse still, they acted negative about it too!
The REAL questions you should be asking IF you are working is,
- Can I possibly “makes more money than my boss”?
- “Will my company pays me residual income when I Quit?
Many readers here will have conflicting answers or even explanation that my questions are unfair but this is a reality and unless you face the truth, you will still be someone who “dunno what you dunno”.
Lastly, here are another THREE questions for you to ponder on:
a) Do you think that the Insurance Industry is as acceptable to you as it was 150 years ago?
b) Do you believe that another 50 years from now, Network Marketing, MLM or Direct Sales will become as acceptable as the Insurance industry today?
c) Which do you think will make more money for you? working for someone’s dream or your own?
# Care to leave a comment about this article? Your Comment will be greatly appreciated!