Multi-level marketing has been seen by many as a good way to make money. It is true that you can make a decent income from network marketing, but most people hardly have any clue as to how actually an MLM business works. In fact, even the so-called experts dont have much of and when it comes to the nuances of an MLM business.
With very little knowledge about the business among those who practice the inevitable has happened myths have developed. Busting these myths is critical to a better understanding of the MLM business and subsequently doing better business. Here we would try to set the record straight about four such myths.
Myth 1: The fastest way to make money, with the least effort
Fact: An MLM business requires a lot of effort on your part. And there is close to no chance of making it big initially. You have to have the patience. You have to invest time to build your network. A person with an excellent network already in place can hope to make about 1000 a month. For a fresher who is starting from scratch the returns are much less. So it is no quick way to riches. You need to remain focused, keep motivating yourself, and not let frustration set in.
Myth 2: Ground Floor Opportunity You Need to Join Today
Fact: Such claims though are enticing masks the real truth. Would you consider joining a company which in an indirect way suggests that people joining after you will make less profits or that the company itself wont sustain in the long run? Any business enterprise works on the premise that it will continue its operations over a long period of time. When there is a risk of the company folding up, why would you lose all your residual income that you have accumulated over a period of two years? So the basic fact is, stay away from companies that put up such advertisements.
Myth 3: The more you sale the more you gain
Fact: The reality is quite the opposite. Too much of sales can be sustained over a very short period of time. What finally happens is that a whole lot of people get involved and the sales figures dont rise with time. In fact, with the passage of time the average sales seem to go down considerably. What any networking business should concentrate on is to build the down line. It is more about setting the organization right than selling. So concentrate on your down line if you really want to make consistent profits over a long period of time.
Myth 4: Being the first member of the family tree, you build the organization downwards
Fact: A very critical error. Any networking business supports a horizontal structure and not a pyramidal structure. Here no one is above or below anyone else. But terms like down line and up line confuse our notions. And this results in us carrying an attitude to work. Even if you are the first member in the family tree, you are not the boss, but are equal to any other member in the tree. Its all about helping each other and contributing to the larger business goal. Here no ones superior or inferior to anyone.