Building a team in MLM is the ultimate goal. Product sales are good but there's no doubt that the big money is made from building a large team. The bigger the better. Just as in franchising the more outlets you have for your goods and or services the more money you'll make, and let's face it, more money is the reason we go into business in the first place isn't it.
Are you familiar with Geometric Progression?
Here is an example of Geometric Progression, the reason why the "Heavy Hitter" appears as a whale, when in reality he is but a school of fish:
January.......You get one new member..................1
February......You and he get one new member......3
March..........You and they get one new member....7
April............You and they get one new member...15
May............You and they get one new member....31
June............You and they get one new member....63
July.............You and they get one new member...127
August.........You and they get one new member....255
September....You and they get one new member...511
October........You and they get one new member...1023
November.....You and they get one new member...2047
December....You and they get one new member....4095
There are interesting points to be noted about the above 12 month plan.
A) How many members did you personally sponsor each month? The answer is one.
B) How many did each member sponsor each month? The answer is one.
If you can stick at MLM for 12 months, bring in one new member per month and have them do the same then the above results are practical.
Tuesday, February 17, 2009
Sunday, February 15, 2009
Choose the right MLM company
THE MYTHS & FACTS ABOUT MLM
The mania attached to MLM or network marketing is the main stereotype that it is a get rich fast business where all you’ll need is Friends and guts. Well its not that easy, sometimes, Network Marketing has sometimes gotten a bad rap for not being a successful income generator and sometimes it has been used for different scams and cons.
The whole truth is, network marketing isn’t a hobby or a way to get you filthy rich. MLM or Network marketing is a business that you evolve in as a person and an opportunity to earn money, not in the bundles, but maybe enough with a little to spare.
HOW TO CHOOSE THE RIGHT MLM COMPANY?
First you need to research on the company that’s recruiting you or you plan on joining. Since more than 90% of network marketing companies fail within a span of 2 years, it is only smart to avoid untested companies. Don’t worry, there are plenty still to choose from since about 10 in 1000 network marketing companies are still standing after more than 5 years.
HOW TO MAKE A START IN MLM?
When you join an MLM company, it is important that your sponsor is someone you respect and trust. This person will be your trainer and coach.
Upon joining and receiving you kit, you are part of the network and of the business. So as part of the organization, make sure you know your products and can answer any questions about them.
Listen to your sponsor and upline. They’ve been at this business longer than you have and may know something that you don’t right now. Great thing about network marketing is that the plans for success have already been paved. Although it doesn’t mean you can’t try out new ways and ideas, but if something works, why not start from that?
The mania attached to MLM or network marketing is the main stereotype that it is a get rich fast business where all you’ll need is Friends and guts. Well its not that easy, sometimes, Network Marketing has sometimes gotten a bad rap for not being a successful income generator and sometimes it has been used for different scams and cons.
The whole truth is, network marketing isn’t a hobby or a way to get you filthy rich. MLM or Network marketing is a business that you evolve in as a person and an opportunity to earn money, not in the bundles, but maybe enough with a little to spare.
HOW TO CHOOSE THE RIGHT MLM COMPANY?
First you need to research on the company that’s recruiting you or you plan on joining. Since more than 90% of network marketing companies fail within a span of 2 years, it is only smart to avoid untested companies. Don’t worry, there are plenty still to choose from since about 10 in 1000 network marketing companies are still standing after more than 5 years.
HOW TO MAKE A START IN MLM?
When you join an MLM company, it is important that your sponsor is someone you respect and trust. This person will be your trainer and coach.
Upon joining and receiving you kit, you are part of the network and of the business. So as part of the organization, make sure you know your products and can answer any questions about them.
Listen to your sponsor and upline. They’ve been at this business longer than you have and may know something that you don’t right now. Great thing about network marketing is that the plans for success have already been paved. Although it doesn’t mean you can’t try out new ways and ideas, but if something works, why not start from that?
Friday, February 13, 2009
MULTI-LEVEL MARKETING OR NETWORK MARKETING
WHAT IS MULTI-LEVEL MARKETING?
Multi-level marketing (MLM) (also called network marketing or NM) is a business model that combines direct marketing with franchising. In a typical multi-level marketing system, individuals associate with a parent company as an independent contractor or franchisee and are compensated based on their sales of products or service, as well as the sales achieved by those they bring into the business. This is like many franchise companies where royalties are paid from the sales of individual franchise operations to the franchisor as well as to an area or region manager.
In a legitimate MLM company, commissions are earned only on sales of the company's products or services. No money may be earned from recruiting alone ("sign-up fees"). One must analyze the compensation plan to determine whether participants are paid from actual sales to customers and not from money received from new recruits. If participants are paid primarily from money received from new recruits, then the company is an illegal pyramid or Ponzi scheme.
WHERE IS MULTI-LEVEL MARKETING IN WORLD ECONOMY?
MULTI-LEVEL MARKETING is a vibrant industry offering employment to over 43 million people worldwide with a turnover exceeding $ 75 billion in worldwide sales of products and services as per the figures of the World Federation of Direct Sales Association (WFDSA) a body regulating the conduct of business on ethical lines and all members are bound by this code of conduct.
CONTROVERSIES SURROUNDING MLM
Multi-level marketing has a recognized image problem due to the fact that it is often difficult to distinguish legitimate MLMs from illegal scams such as pyramid or Ponzi schemes. MLM companies work legitimately in the United States in all 50 states and in more than 100 other countries, and new MLM companies may use terms like "affiliate marketing" or "home-based business franchising". However, many pyramid schemes try to present themselves as legitimate MLM businesses.
NEED OF REGULATORY AUTHORITY FOR MLM
In India, Insurance sector faced many problems in its early times but it is accepted and now it has become a part of life. Changes are not accepted easily. There are many MLM networking companies growing like mushrooms. Many companies have run away overnight having made handsome amount. The poor employed youth and folk are being cheated.
Like insurance regulatory development authority (IRDA) there should be a body that ensures the monitoring, regulating and controlling of MLM.
Multi-level marketing (MLM) (also called network marketing or NM) is a business model that combines direct marketing with franchising. In a typical multi-level marketing system, individuals associate with a parent company as an independent contractor or franchisee and are compensated based on their sales of products or service, as well as the sales achieved by those they bring into the business. This is like many franchise companies where royalties are paid from the sales of individual franchise operations to the franchisor as well as to an area or region manager.
In a legitimate MLM company, commissions are earned only on sales of the company's products or services. No money may be earned from recruiting alone ("sign-up fees"). One must analyze the compensation plan to determine whether participants are paid from actual sales to customers and not from money received from new recruits. If participants are paid primarily from money received from new recruits, then the company is an illegal pyramid or Ponzi scheme.
WHERE IS MULTI-LEVEL MARKETING IN WORLD ECONOMY?
MULTI-LEVEL MARKETING is a vibrant industry offering employment to over 43 million people worldwide with a turnover exceeding $ 75 billion in worldwide sales of products and services as per the figures of the World Federation of Direct Sales Association (WFDSA) a body regulating the conduct of business on ethical lines and all members are bound by this code of conduct.
CONTROVERSIES SURROUNDING MLM
Multi-level marketing has a recognized image problem due to the fact that it is often difficult to distinguish legitimate MLMs from illegal scams such as pyramid or Ponzi schemes. MLM companies work legitimately in the United States in all 50 states and in more than 100 other countries, and new MLM companies may use terms like "affiliate marketing" or "home-based business franchising". However, many pyramid schemes try to present themselves as legitimate MLM businesses.
NEED OF REGULATORY AUTHORITY FOR MLM
In India, Insurance sector faced many problems in its early times but it is accepted and now it has become a part of life. Changes are not accepted easily. There are many MLM networking companies growing like mushrooms. Many companies have run away overnight having made handsome amount. The poor employed youth and folk are being cheated.
Like insurance regulatory development authority (IRDA) there should be a body that ensures the monitoring, regulating and controlling of MLM.
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