Some Critical Thoughts for the MLM Beginner
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As the economy continues to struggle to recover, more and more people are looking into MLM opportunities as a means to either augment or replace their lost incomes. Most of these people, at least ninety-five percent (95 %), will never make a dime in the business opportunity of their choice. With just a little critical thinking, by these people, it would greatly improve the ability for people to make money and build a viable ‘home based’ business.
The first obstacle that people need to address is the fact that most if not all of them entering this industry have never sold anything, and know very little or nothing about marketing. The following is some items for people just entering an MLM opportunity to think through before joining anyone or anything. Keep your credit card in the freezer!
Is there a market for the product or service? If there were no mice would there have been a market for the mousetrap? Generally products do better than services in MLM businesses.
Is the business an established business or a newer (less than 2 years) less established one? Here again an established business indicates that they are viable in the marketplace, but it still does not guarantee success. Pre-launch companies should be the very last opportunity to contemplate. Ninety percent (90 %) of all MLM companies do not complete their first year in business.
Can you make money in the opportunity by just working part-time? Is the opportunity ‘economy’ friendly? How much money does it take to get started? Is there a training system offered? You want something that you can do part-time when you start, you also want to spend only what you can afford to get started and there should be a system that you can duplicate. Remember you cannot duplicate another person, yet!
If you have to hire an attorney to translate the compensation plan or it looks like a short story be weary. The more the print and pages the easier it is to bury ‘got you clauses’. Another word trap to watch for is annual ‘membership fees’. Companies have been known not to allow people to renew their memberships and the company takes over their business and it’s legal.
Finally take a look at the assets of the company. The larger the buildings, the higher the number of employees, the aircraft, the yachts, the limos, and the celebrities and/or sponsored activities (sports teams). All of these take money out of the company profits and the distributors/affiliates pockets.
For those wanting to earn large sums of money it is necessary to have other people join you in your business, hence the name Multi Level Marketing (MLM). Pick an amount of money you want to make on a monthly basis and determine the number of people you would have to have joined you in your business to make that amount. The larger that number the more difficult it is to accomplish.
Since the MLM beginner, for the most part, is a ‘rookie’ in the business, why not do what rookies in sports do or have done for them all of the time. Find yourself a coach or mentor to help you get started. It could save you years of frustration and failure. Plus, “if you don’t know where you’re going, you’ll probably end up somewhere else”, with your money in somebody else’s pocket.
If MLM was easy and you could make millions in months everybody would be doing it. Like any business, it takes time and commitment to succeed in MLM. Think.
Terry Martin
www.AskTerryMartin.com
The More You Know, the More You Grow
Views: 1,082
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Comments: 29 
About the Author: Terry Martin
Member Since: 05/21/2009
Company: Home Profit Centers
Industry: Marketing and Advertising
Primary Web Site: http://AskTerryMartin.com
Great stuff Terry
This will help many people analyze the opportunities they are presented with before they commit.
Thanks for sharing
Timothy C Burns
Great stuff Terry
This will help many people analyze the opportunities they are presented with before they commit.
Thanks for sharing
Timothy C Burns
Critical Thinking Creates Zero Wasted Time!
Let's build this thing once, build it big and build it to pay our children's children! As I am on my way to making a 10K monthly residual income, why would I not treat it like I am making a million dollar decision? Right On Terry! You hit the nail on the head. Serious Professional Networkers are going to look at this opportunity as a million dollar decision and want to know what is most important~ Those who don't are NOT serious about business and will most likely continue to struggle, jumping from one company to the next, never taking the time to look at the most important factors in building a foundation that nothing can shake~ Thank you for this excellent article Terry!
Very informative
Great food for thought when shopping for a reputable company. Many just sign on the dotted line because someone was excited and got them in. We need to do our homework before diving in full steam ahead. Thanks Terry for this very important information.
Some Critical Thoughts
If you want to build it big you must do some critical thinking. Look at the p&p and crunch the numbers...if you only want a hobby and company will do!
Thanks Terry
Alice McCarthy
Market the Mousetrap
Don't try to change it just learn the skills. Don't jump into the one with all the fancy over produced web sites. Take time to learn about company and their plan to succeed.
Great Article Terry..
Finding a mentor or coach who has already done it and became profitable at doing it and can teach you how to do it too is the best way to achieve success in this industry.. Everyone needs to read this... Thanks again Terry
Nice article, well said.
A little critical thinking can take you along way when building your business.
Great Article
Thanks Tim good food for thought
Education is Essential
It is the fuel for your THINK tank!
A good one Terry!
Thanks
I wish,.....
Hi Terry, I wish somebody would have told me these things when I started my MLM business a good 5 years ago! Thanks for this powerful message.
Terry
What a super article. It people read into it...forget the present and visualize all the great opportunities out there....Keep your focus and do not jump around and have stability in self to move and forge ahead.
Keep that positive Million dollar mind set.
Love and respect you Your friend, Jan
Terry
What a super article. It people read into it...forget the present and visualize all the great opportunities out there....Keep your focus and do not jump around and have stability in self to move and forge ahead.
Keep that positive Million dollar mind set.
Love and respect you Your friend, Jan
Terry
What a super article. It people read into it...forget the present and visualize all the great opportunities out there....Keep your focus and do not jump around and have stability in self to move and forge ahead.
Keep that positive Million dollar mind set.
Love and respect you Your friend, Jan
Terry
What a super article. It people read into it...forget the present and visualize all the great opportunities out there....Keep your focus and do not jump around and have stability in self to move and forge ahead.
Keep that positive Million dollar mind set.
Love and respect you Your friend, Jan
How Do I get Started in MLM?
Great Article Terry!
I think that pretty much sums it up for anyone looking to join this wonderful Industry. You mentioned a lot of Key Points that people tend to always over look. Well Done, Sir!
When I was a Beginner no one thought enough of me to tell me
It is nice that you are willing to think enough of Newbies to give them this importain info
Your friend for life Juanita Waterman
If Only...
I had found a mentor like you years ago! Wise words, Terry. Thanks for sharing your insights.
Wow Excellent Checklist!
Wow Excellent Checklist Terry, I'll be putting this in a file to save since it is very valuable information to share!
Thank you for sharing!
Marty Misner
Information is Important
Great article Terry. This information is so important to one's success in this industry! All of these things must be considered when choosing a mlm company. You need to make sure when you sign your consultant application that you are also not waiving any of YOUR rights as a distributor. Thanks again Terry for sharing.
Very Accurate Indeed!
This information Terry is very accurate. Those looking for a business opportunity need to do their research and address the points you make. If we don't give new people the information about who we are, they'll leave and your business will never grow! Great job!
Great Story
... MLM is not just about opportunities... it is a BUSINESS... I like how you broke it down.
It's A Relationship Business!
Thanks for sharing, Terry! Great info.
From my perspective, 95% of the population are not making money despite all the help from their mentor is due to inability to build relationships with their contacts. We are in a people business .. the first thing one has to imprint in their minds is to have a burning desire to help people find the answers to their needs, wants and desires, i.e., make money from home, achieve financial freedom, etc. Isn't this done through building a sincere relationship with people? If one cannot connect with people, how can he mentor someone else to help them achieve their goals?
Life is a decision!
Thanks for the article
Thanks for giving me such a great article to start off my day reading. I went ahead and put my wallet in the freezer. Just seems safer that way for now!
All my best,
Great Article Terry!
And I'll bet you're pretty darn good with a beginner rider or dancer too. You are a true mentor in all ways.
95%
I don't believe this statistic that every one keeps using about a 95% failure rate in network marketing. Can someone document a credible source for it or is it urban legend?
And besides, most small businesses fail, but have you ever noticed that most of these people refuse to get a job. They just try again and again until they figure it out.
People deserve a chance to learn about business. With out all the usual business requirements, surely the success rate is higher in network marketing. And have you noticed that once bitten by the mlm bug, people often come back for more.
95%?? It's just numbers !
Terry: "Most of these people, at least ninety-five percent (95 %), will never make a dime in the business opportunity of their choice."
You may have helped a lot more people if you would have explained that 95% don't make any money because they have chosen NOT to do the activity that will allow them TO make money: Showing their opportunity to people. Every MLM company provides people with the opportunity to make money - SUCCESS boils down to who is showing the opportunity to the most people (the numbers game).
To your success,
Joyce Penner
MLM and New Beginnings
Great info Terry...There are a few great companies out there but when you look for an opportunity today do not make the mistake of just seeing all the flash, smoke and mirrors along with all the tricks and outlandish promises all over the internet today. You should look at a company that will give you the support and tools needed to help you succeed and prosper.
Please beware of all the organizations that say you will get rich overnight, free, no work involved, autopilot and all the other tricks they use in order to suck you into their world and take your hard earned money. You and I both know there is no such thing as a free ride and if you fall for that you will be very disappointed…this I promise you.
Please keep sharing your knowledge with the world as this is what we are all supposed to be doing...because it is just not about us, we need to try and help folks.
New Person In Town
Great article for the newbees. You offer a lot of value and things to consider. Thanks