How to Succeed in MLM

Network marketing, multi-level marketing (MLM) or direct selling is a popular business scheme. This kind of business can be done part-time or full-time. Whether you’re young or old, a professional or still a student, network marketing can be a lucrative business for you if done the right way. If you want to achieve success in MLM or network marketing, here are 10 tips to succeed in this industry.


1. Choose the right company. Make sure that the MLM company you are joining is a legitimate one. Check out if it is duly registered and have all the necessary legal requirements to do business in your country, a legitimate business should have a certificate of registration with the Securities of Exchange Commission (SEC) if it’s a partnership or a corporation, Department of Trade and Industry (DTI) if it’s a sole proprietorship, Mayor’s Business Permit, Bureau of Internet Revenue (BIR), and other applicable registrations when necessary. A legit business should also issue a BIR official receipt or sales invoice every time you pay money for a product or service from them.



2. Choose the right products. Aside from choosing a legitimate MLM company, choose the company that offers products you can really promote. If an MLM company doesn’t have any product at all, and it’s just all about talk, then it’s not a good business. Choose a company with high-quality products that can really help people have a better life. Pick products that you can be confident in promoting and selling it to people.And also not all MLM require you to selll any product.



3. Create a marketing plan. Strategic planning is a vital step in marketing. If you want to be a successful network marketer, then you have to make a game plan. Define your long-term goals, set your specific objectives, and establish your steps and procedures to achieve those goals and objectives.



4. Be the manifestation of the product you are selling. Do not promote or sell products you haven’t used and proven to be useful to you. Make yourself the living evidence that your products are great and effective. If you want to become highly convincing, then you should convince people not only by your words, but also by your actions and way of life. For example, if you’re promoting health products, then you must show to them that you become healthy by using those products.  Network marketing is based on word-of-mouth marketing. Make sure that what comes from your mouth is your actual experience in using your products.



5. Practice relationship marketing. Network marketing or multi-level marketing is also based on relationship marketing. Do not expect people to immediately believe and trust your words. You have to be patient in building good relationships with them. The MLM industry is a very competitive one. In order for you to stand out from the crowd, you don’t need to have the loudest promotional words spoken, but you need to have the most sincere words spoken and the deepest relationship built with people whom you are targeting. So make sure that your purpose is making friends and making them happy and not just in making dowlines to increase your income.



6. Respect people. In order to improve your relationship marketing campaign further, show respect to everyone. Be positive in the right way. Do not judge people that they are negative just because they ignored your invitation, but instead be polite, humbly ask an apology for getting their attention, and thank them for listening somehow. Respect is very important in network marketing because it is an important key to building trust and good relationship with other people.



7. Find mentors. Learn from the success of other network marketers. Be passionate in growing your knowledge and wisdom in convincing and influencing people. You can find mentors inside your team. You can also learn by reading books, blogs, articles, and by listening from the different testimonials of other people who have made it to the top.

intro to Multi Level Markerting (MLM)

Multi-level marketing (MLM), also called pyramid selling,[1][2] network marketing,[2][3] and referral marketing,[4] is a marketing strategy for the sale of products or services where the revenue of the MLM company is derived from a non-salaried workforce selling the company's products/services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system.

Although each MLM company dictates its own specific financial compensation plan for the payout of any earnings to their respective participants, the common feature which is found across all MLMs is that the compensation plans theoretically pay out to participants only from the two potential revenue streams. The first stream of compensation can be paid out from commissions of sales made by the participants directly to their own retail customers. The second stream of compensation can be paid out from commissions based on the sales made by other distributors below the participant who had recruited those other participants into the MLM; in the organizational hierarchy of MLMs, these participants are referred to as one's down line distributors.[5]

MLM salespeople are, therefore, expected to sell products directly to end-user retail consumers by means of relationship referrals and word of mouth marketing, but most importantly they are incentivized to recruit others to join the company as fellow salespeople so that these can become their down line distributors.[3][6][7] According to a report that studied the business models of 350 MLMs, published on the Federal Trade Commission’s website, at least 99% of people who join MLM companies lose money.[8][9] Nonetheless, MLMs function because downline participants are encouraged to hold onto the belief that they can achieve large returns, while the statistical improbability of this is de-emphasised. MLMs have been made illegal in some jurisdictions as a mere variation of the traditional pyramid scheme, including in mainland China.
Source ;Wikipedia