Go to google and type in "MLM" and you're more likely to see information about pyramid schemes than about how to build a successful business. That's not a bad thing. It happens that way because MLM's popularity attracts all types of people. Just like any other business, country or culture - when you mix in a lot of people, you've got some good ones, some bad ones and some naive ones. Right now, let's go through what it is, what it takes to pick a good one and how to start off on the right foot. What is MLM? If you don't already know what it is, here's a quick definition: MLM is a way of doing business where a parent company hires "independent contractors" to sell their product or service and build a team at the same time.
Look at the compensation plan. If you are getting paid to build a down-line - that's a pyramid scheme. You should be getting paid to sell a product and only build a down-line so that more people under you are selling the product, from which you earn some percentage.
Why is it so Popular? MLM has exploded for a couple of reasons. First - compared to other businesses, it's almost too easy to start in an MLM company. Most of the legitimate companies do not require a fee to join. Another big factor is that you don't have to create your own product or service. You don't need to put in the legwork of researching the market or the industry for its viability - the parent company has already done that. Yet you still have the potential to earn a lot of money or, at the very least, some very useful extra cash.
It's not a new form of conducting business, but it's exploding all over the place now because the Internet has added another benefit - simplicity. You don't have to deal with door-to-door people or travel to your downtown office. You can just pick up the phone or jump online to contact everyone on your list in a matter of moments. Less Work + Money Potential + Simplicity = Popular Business Model.
How do I get Started? To get started, you need to choose a company. You're the one who chooses, you're the one in control. So make a good decision. The first thing you're going to want to do is research and compare. Because there are so many opportunities, you may get confused at all the complex compensation plans.
The best formula is to go with a company who: A. Charges Little or Nothing to Join. It's OK if there is a small entrance fee and you'll be able to know if it's a big fee or not by comparing. Unless the company's name is extremely popular, though, should you really be paying to work for them? And, B.
Has a great product or service. Does your company sell money-making ebooks? Pass. Make sure it's a product or service you believe in and you can get behind because when you really believe in a product, you do a better job of selling it.
You'll get more people to buy from you and more people to join you. Keep in Mind - The last point to mention is this: Remember that you're starting a business. It takes work and time. You need customers and employees. Learn from people who are making money - do your research.
Go into this with your eyes open and you might just find your calling with an MLM business.
Daniel Cassidy is the webmaster of Work At Home Internet Business. Find out more about an affordable MLM Business Opportunity that has helped many people create wealth on-line.