No one ever said running an MLM business was easy!
In fact, running a network marketing business can take a lot of work and effort, especially if you live in Canada.
But it can be done.
In fact, I've written a few articles on mlm related topics, such as mlm leads and what to look for in an mlm company. I have been working in two network marketing companies (one since 2000, the other since about 2006), and although I haven't built a walk-away income in either, I still find it worth the effort to continue.
Why is that? What have I learned in my eight plus years trying to do MLM?
Now, the following advice isn't for the go-getter type who decides to plunge headfirst into network marketing, invest all their time in it, spend a lot of time on the phone calling leads - basically turning their MLM into a full-time job.
My advice is for the majority of MLM'ers who are part-timers, who have a regular job but are looking at MLM as a way to generate some extra income, and maybe eventually a full-time income.
First thing - pick a good mlm company (click on 'MLM Business' above to read my article on that). Basically, you want a company that's been around a number of years, has an online presence, an online system to educate your prospects, lots of good reasonably priced products, no high monthly purchase requirement ($50 or less), available to people worldwide and in many languages. The more of these factors the better.
Secondly, expect to be in it for the long haul. Time is a big factor and is on your side. It can take years to build a network marketing business into a substantial income, and you should be prepared for that. But if you've done the first thing right (picked a good company with good products and an affordable monthly purchase) then sticking for the long term shouldn't be a problem. If you put a lot of effort into it, it may not take long, but for the average mlm'er it's a marathon situation, not a sprint.
Don't jump around from company to company, and deal to deal. This is a great way to lose a lot of money fast, switching programs and never giving any one the time it needs to succeed. Over the years I've seen companies launch with a lot of excitement and fade away within a year, along with your downline. Pick a good company to start, there is a reason some of them have been around 5 or 10 years, or more.
Get online. Having your own website is a must. You can have complete control over your online presence, promote anything you want, and look more professional. These days it is very cheap to have your own website, there are website builders that make creating your site as easy as point-and-click, cut and paste. There is really no reason not to be online. You can put your website address on your business cards and in your ads, so people can find you 24/7. Promote yourself with a website.
Try lots of different advertising methods. Try free online classifieds, paid ads, search engine ads, local newspapers, email signatures, buy leads, word of mouth, signs on your car, and more! Think outside the box. Look at what other networkers do. Find something that brings you a regular stream of prospects every month at an affordable cost. As long as you are finding ways of getting people to look at what you have to offer on a steady basis, then your business will grow. Some mlm companies even have ad co-ops or lead generators as a service to their members.
You can never run out of prospects. There is always someone out there to sponsor, whether it's a young person starting to look for options, or older people with a life-changing situation. Developing countries will increase the number of people looking for an online business opportunity. Never believe that the prospect well has run dry.
Have a few side-deals. People doing MLM need to advertise, have a website, leads, business cards, etc. Look for affiliate programs you can join that might interest other marketers who you will come into contact with. As I've said before, people visiting your website might not join your MLM, but they might click on your affiliate link to buy ads, leads, website hosting, or whatever they need to promote their own business. The income from affiliate programs can even grow to exceed what your MLM business makes.
Another reason to stay in for the long-term is that you never know who you will sign up. You may sponsor a person who becomes an MLM superstar and helps your business grow by leaps and bounds. I've read about this happening, just one person in your downline can make a huge difference if they are a selling or recruiting genius.
I hope I've been able to give you a realistic view and maybe a few new ideas about growing your network marketing business - Good luck, have fun, and stick with it!
A final business tip I can give you - domain names. The domain name market has been growing and maturing since 2000, and I think there are lots of opportunities still to invest in good domain names. As a rich domainer once said, "there is no internet or email without a domain name". You have probably even heard or read about some high priced domain sales in the mainstream media from time to time. Domains are similar to MLM in that they can give you recurring income with little effort on your part after you've set things up, but unlike MLM, you don't have to build and recruit a downline. To learn more about the domain name market, check out DomainMedia.ca and also my blog at DomainReport.ca
