When I first started to look around for a way to make money online, one of the business models that caught my eye, that everyone was promoting and talking about was the MLM or network marketing business model.
Learn how to make $40K per month selling product XYZ, said one website.
Like most people, I was always drawn in, by the guys at the very top, who were, (in my opinion at least), living the laverished lifestyle.
The compensation plans were gangster.
Duplication, well, yep, that too.
And I could definitely see how I could make a full-time living in a network marketing company.
And I guess this is what most MLM companies have in common 1) A lucrative way to make money and 2) Duplication.
Those are two very important ingredients they have in common … but they also have one other thing in common.
It’s too damn hard to duplicate yourself without a significant amount of time, money and effort.
Now don’t get me wrong, I’m not against MLM companies or the network marketing model, (in fact I’m a big fan), but I’m just saying that it’s not as easy as what most people make it out to be.
I’ve actually promoted products for a MLM company in the past, and made money with it, however, I couldn’t get past the fact that most people were gonna fail because they didn’t have the same sort of training as I did.
Anyone who has ever joined an MLM company and failed will tell you so.
So wait, that would be around 97% of people, given that’s the current failer rate for folks joining and failing in MLM companies.
Which means we really only hear about the success stories of the 3% of people that actually make it.
You know the dude that makes the $40K per month.
If only 3% make it, then the inference would be they made it on the backs of the 97% that fail – right?
Hmmm, maybe something to keep in mind when you contemplate joining an MLM company.
(i.e.) You want to be on the right side of the equation.
Growing Your MLM Business
Sure there are tried a true methods, like approaching your warm market first (i.e.) friends and family members. But nobody likes doing that.
You could hold home meetings and hand out your business card to anyone who has hands to hold them.
You could cold call the heck outta your cold market and then still be no better off.
But those are the old methods, still tried and true, but man what a pain in the ass – right?
Who’s really got time to do that and hold down a full-time job at the same time.
But if there was a way for you to create an audience the same way as holding a meeting or giving out business cards, without talking to a single person, would you be interested?
The Internet Age
So this thing called the Internet comes a long and whadday ya know a whole bunch of MLM companies decide that it’ll not only be a great way to reach a wider audience, but also allow them to exploit a new marketing angle.
I know says MLM company one, let’s tell everyone that they can reach a wider audience because of the Internet, and that they don’t have to hold meetings anymore, or hand out business cards, they just have to put up a website and people will come to them, surely that’s gotta get more people signing up – right?
And whadday ya know it works!
Not only can folks see the lucrative payment plan anywhere around the world, but now the possibilities for duplication are endless – right?
They Don’t Teach You How To Do It
What most people find when they join an MLM company is that they don’t know the first thing about creating an online audience.
Knowing how to build a audience online is your ticket to reaching people globally without having to do the heavily lifting yourself.
When I promoted Empower Network, (which is a Network Marketing company) I didn’t speak to a single person until after they signed up with me.
But in order to do that effectively I created an online audience that were drawn to me automatically.
You could say that I developed an online prospecting system that ran day and night, whether I worked it or not.
The system will draw people in and funnel them through, with me speaking to a single one.
And the great thing about systems is that the results can be taught and duplicated by anyone who is willing to work it.
Want to learn how to create your own prospecting system then check out my Wealthy Affiliate Review.
- MCA is it legit?
- WAH University – Is it Legit or a Big Fat Scam
- Don’t join Empower Network until you’ve read this
- Project Payday – Not a scam, but not good either
- The Not so Instant Payday Network
Latest posts by Frank (see all)
- Super Affiliate Machine: Is it Legit Or A Scam? We Review It - November 4, 2020
- 5 Financial Metrics to Keep your Business on Track as the World Emerges from COVID-19 - September 15, 2020
- A Complete Guide to Using Technical Indicators to Trade Cryptocurrencies - July 8, 2020