Anyone who has tried looking for a side hustle has heard of MLM. Multi-level marketing is a highly popular business strategy that companies use to promote sales and decrease labor costs through direct selling. While it is true that MLM is commonly used for Ponzi schemes, let it be said that not all MLM companies are scams.
To break it down, MLM works by having what you call “downlines”. These downlines are recruits who do the direct selling. They earn a commission on every product they sell. And for every successful sale, their uplines also earn a commission. Legitimate MLM companies have statistically and financially figured out the sustainability of this model. And this is why many legitimate MLM networks impose a limitation to how many downlines a person can have.
Here we will show you some of the best ways to build your MLM business, not just in the physical world but also in the online world. As you move along, we are hoping you succeed and become a six figure mentor one day.
Sell a Product That You Love
There is no way in this world that you will sound as convincing as you possibly could if you are selling a product you personally do not support. Too many times, people who participate in MLM companies are blinded by the promise of making a lot of money, only to realize later on that they have failed miserably for selling something they do not understand.
If you love the product, you will understand how it works. You will believe in it and you will be proud to use it, own it, and sell it.
Create a Facebook Page
Never underestimate the power of social media. Today, Facebook still reigns supreme among all social media giants.
With a Facebook page, you are separating your personal social media from business. With your business page, you can lunch advertisements to specific areas you want to cover. You can share posts and you can build relationship with your customers, partners, and downlines. It is not difficult to create and maintain a page. A Facebook page works in similar ways as a personal account.
Do Not Annoy Your Friends and Family
The most typical approach that a neophyte MLM marketer does is to go to his friends and family and insist on selling the product or join the MLM network. To an extent, this becomes annoying if the family member or friend isn’t interested. And definitely, a six figure mentor will tell you that this is not the best approach to reaching your goals.
What many MLM enthusiasts do not realize is that when a person says “no,” he means no. While many mentors will tell you to list down at least 50 people you know, you need to understand that a successful six figure mentor will tell you that he only had significantly less than this 50 people join his network. And it is likely that these friends and family members who joined him did it only after he was already successful.
In summary, you will only succeed in MLM if you sell a product you love, believe in, and understand. It does not make any sense selling something whose features and benefits you cannot explain. It is also imperative that you are a living testimony of the product you sell. A potential customer will obviously view it as a red flag if you are selling a product you do not use. In addition, you must also ensure that you have the right marketing strategy by leveraging social media—it is free and easy to use. Lastly, grow you MLM network by approaching people who share the same interests.