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|Internet marketing and online information publishing.
In my spare time (what spare time?) I enjoy line-dancing and reading, plus spending time with family and friends.
The Benefits Of Earning An Extra Income With A Multi-Level Marketing Company
When people start looking to build their own business they will quickly be exposed to MLM (
Multi-Level-Marketing) and when you look at the high start up costs of alteratives such as franchising,
if you need to work from home on a limited budget
marketing / MLM could be exactly what you’re in need of.
have you heard that multi-level marketing is an illegal scam? Nothing could possibly be further from reality. Whilst there were some crooks and questionable methods connected with MLM in the past, things are completely different now. The industry is now extremely controlled.
Although it isn’t suitable for everyone, MLM handles many of the obstacles that often cause small businesses to fail in their first year.
For example, examine a few of the most important advantages.
The main one must be the buy-in cost. If you consider opening your own organization in terms of renting or buying a shop or office, this is a pricey option. Despite the fact that this may have been the way to go forty or fifty years ago, a walk through town and a look at the long faces of the unhappy individuals owning or renting shops there, tells a different story. Evolving life-styles, methods of transport and levels of earnings have sounded the death-knell for the small shop-keeper as customers flock to spend their money in huge, out-of-town emporia. So buying or renting a shop is an expensive and risky option.
Far better to work from home, without necessity for expensive office space, staff and a heavy commitment in stock - as you can when you enroll in a networking business.
But bear in mind, the easily affordable cost can actually be the downfall of many a network marketer. If you'd paid a six figure sum for a business you wouldn't just tuck it away under the stairs to 'get started' in a week or two, which is what happens to many a budding networker. Nor would you 'try an alternative business' so quickly! Just avoid this mistake and keep in mind that, like any undertaking, you need to devote some time and effort to getting started. Don’t give up too quickly.
Yet another plus point of becoming a member of a networking company is that a large amount of the marketing information will already be available for you either as part of your distributorship, or at a minimal cost. For instance, you may be spared the hassle and expense of creating a website, designing product flyers or providing educational materials. You should have easy access to ready-prepared materials and a first-rate support system.
Have you made up your mind what type of service or product you intend to market? It’s preferable not to go for something that’s a once only purchase, or you will find yourself on the hunt for new customers over and over again. The best kind of product is something consumable, that people use each and every day - for instance, perfumes, after-shaves and cosmetics. These are products that people already shop for, rather than them having to buy additional items, when so many people these days need to save money.
Legitimate multilevel marketing companies permit you to buy in small quantities, so no pressure to spend excessively on stock. It makes sense to have a small quantity of items available to show interested prospects. But, the days of filling your shed with stock you've acquired to be eligible for higher positions should be a thing of the past. With certain companies, for example the one I prefer, the monthly commitment is small enough that you can satisfy it by self use only.
Your MLM organization will have done all the tricky work of developing or sourcing products, and they will have more than enough purchasing power to be able to buy in volume at much reduced cost than you would have done by yourself, which will hold the end-user price lower. And the essential principle of networking is that profits are shared out to distributors instead of being watered down to fund costly promotion or super star endorsements.
Retail profit is generated when a distributor sells at wholesale price and the customer purchases at retail. This is usually where the most profit is made, to reward the individual who actually makes the sale to a consumer. However, there are further incentives for the introducer of distributors who make sales.
A team (or network) can generate you a substantial income, provided that the sales targets for making commissions are simple enough to achieve. This is referred to as earning through sales made by your “downline” - distributors introduced by you, or by those people you have brought in . The earning capability goes down to a number of levels, depending on your company’s payment package. Earning downline commission from your group of networkers will usually start gradually, but with persistence can end up being extremely lucrative.
So you can make money from the endeavours of others, but with the very significant advantage that you don't need to employ employees. While it may appear at first sight an interesting thought that you can have employees at your beck and call, as one who was once an employer, I can give you a completely different image. 50 percent of the time, in a smaller company, the employees will be making much more than the proprietor (almost definitely as a whole!) and they will be the ones taking paid vacations, sick leave and accumulating pension contributions. The owner is an unpaid tax collector, struggling to comply with a maze of employment rules and regulations.
Balancing the supply of employees and work is almost impossible. One or the other will practically always be in short supply. You can guarantee that when a substantial job comes in, the essential staff member will be on vacation, at auntie's funeral, or laid up with a bad back. It's an unwritten rule that these crucial personal responsibilities will not come about in your quiet periods. If work is limited, the employees will take it easy patiently waiting for pay-day. They will keep themselves occupied talking about last night's TV (which you did not see as you were organizing tax returns), they may be surfing the net to choose the holiday you will be funding, or using your business phone to contact their stockbroker. And woe betide you if you try to make them redundant - the steps to do this would take a manual by themselves. Trust me, not having to employ staff members is a remarkable benefit.
So, having selected your products and company, all you will need to do is obtain the customers and prospects - which, obviously, is what you'd have to do in a conventional firm. Yes, that's right - selling! If you want to be a paper-pusher or supervisor, return to the employment market because when working for yourself it could be a while before you're profitable enough to manage anyone other than yourself.
So, no stock, no office space and no staff. This means you've eliminated most of the significant running costs of a normal organization. And obviously money saved in those areas can reward you for your endeavours, or fund a promotional campaign.
Having looked at what you don't require with a multilevel marketing organization, what further positive aspects are there?
We have previously considered the benefit of making money from your team, without needing to employ them. But remember that even though your down-line should be producing earnings for you without the complications and accountabilities that originate from employing staff members on your payroll, it is your responsibility to provide them assistance and help should they ask for it. That is what you will be paid for.
Which brings us to YOUR early weeks with the business. Your sponsor (introducer) should be your guide in the business, supporting you and helping you in those first few weeks and months when you have queries, worries and doubts. Pick a sponsor very carefully and be sure to make use of him or her. The commission a sponsor earns on YOUR sales is their remuneration for looking after you. Build the correct relationship from the outset - if you don't want to be telephoned every night, let them know. But if you DO want lots of support, meetings, two-on-one presentations etc, determine that your upline has plenty of time available to commit to you.
Support you get from the parent organization will typically include a web-site, training information, online videos, samples, brochures and catalogues and access to local get togethers. As soon as possible, set aside time to study these carefully and ask your sponsor about anything that you don't thoroughly grasp. If your immediate sponsor can't assist you, get them to go further upline to find out. A sponsor who is new themselves, is not necessarily a problem as they’ll learning from your questions and most probably keen to find answers to progress their own business.
Go to a national gathering or training meeting (online or offline) as soon as possible. Enroll in an online forum for your company. Getting to know successful distributors will boost your morale and with luck you'll be pleased at how encouraging many people are, even if they’re not in the same team as you. There can be a real friendly atmosphere in networking that just doesn't happen in the cut and thrust of conventional business.
Product information catalogues should be available to download, or to buy in modest, affordable volumes, saving you a lot of money in publishing and design costs - while projecting a professional image for you and your products. Don't sacrifice quality on presentation, it's what will distinguish you from an amateur - particularly when you're dealing with a general public used to buying from glossy catalogues.
A free or low cost web site from your organization can also save you hours of time and huge costs. It also increases your professional credibility. No-one realizes how small your firm is if they look at a stunning website - and you can do business all round the world, even while you sleep. So - a business with offices in many international locations means that you have a much greater prospective customer-base. However, remember that it's extremely unlikely that anyone will bump into your website by chance - it will need promoting.
While "cash is king" when you take payments from people you don't know, some companies allow your clients to pay for their products with credit cards. This eliminates troublesome explanations as to why you don't accept credit cards - or the fees and hassle involved in acquiring the service. Trading this way frees you from the concerns of verifying personal cheques.
For most people the flexibility of a multi level marketing company is a crucial reason for enrolling. You can invest as much or as little time as you want to develop your business. Work the hours that are appropriate for you. No-one should push you to do more than you can. If you're unemployed, you can go full-time immediately with low start up costs. If you have another job that you plan to replace, I strongly advise that you continue working until the part-time income from your new business surpasses your existing salary by about 50%. Your top priority should be to repay any loans, so that when you decide to go full-time you have as few financial worries as possible.
Many of the benefits of a networking companyare attainable even without the need to build a team of distributors to supplement your income. For people who dislike the idea of network marketing because of (false) 'pyramid' connotations, remember, no-one is compelled to build a team. Just make it clear to your sponsor that you're only planning to retail products and you'll still be welcomed with open arms. I would far rather have someone in my group who just wants to retail products than those who join with grandiose plans to build the largest organisation ever, without actually moving any products. I've experienced too many of those.
If you do come to a decision to build a group, you'll have the benefit of others working for you, but without the obligations of being their employer. And of course, it's a completely different relationship. You and your downline group of distributors are all working towards the same aim, you're all equals. There's no 'them and us' syndrome. A good team can be a profoundly motivating force, bouncing suggestions off each other and providing creativity. In the beginning it's a good idea to build your group in your area so that you can get together frequently and demonstrate a community into which you can introduce new many people.
I am convinced that the advantages above are so significant that multilevel marketing is the only modern way to go about establishing a small business. You'll have the positive aspects of a franchise without the large expense, and with the added choice of being able to improve your income by team-building.
So if you are ready to build your own business and work fom home, contact me to learn more.
Joy Healey, www.PerfumeOpportunity.com/learnmore.html
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