Around this time 2 years ago I’d never even heard of MLM – I had no idea what it was, or what those letters even stood for – but fast forward 2 years from then to now & I can tell you that I’ve managed to reach the top leaderboards in over 3 different MLM companies, generating hundreds of thousands of dollars in each.
And firstly before I dive into this post I want to make it clear that I’m not saying that to brag or boast – I’m saying it so that hopefully you appreciate that the advice I’m going to give you in this post will help you greatly, and that I’d highly recommend you take action on what I’m about to teach you if you’re not already doing so.
So MLM… What is it?
In case you’re like I was back then, new to MLM (or have no idea what it is), then let me firstly explain what it’s all about so that you can gain a basic understanding before I get into the meat & bones of the post.
MLM stands for multi-level-marketing, and you might often see it also referred to as network marketing or a “business opportunity”.
It’s similar to affiliate marketing, whereby you promote products/services for a commission, only that in MLM you can also be rewarded for the efforts of your team as well as your own.
The way you’ll be rewarded differs from company to company, but generally you’ll earn a certain commission percentage on your own sales, and then you’ll be able to earn a commission percentage on the sales on any sales your team members make if they go on to sell the products themselves too.
This gives you added leverage, since in theory you’ve essentially got people making money for you, which is why you often see many MLM’ers stood on stages boasting huge commission cheques that run into the thousands and sometimes even millions of dollars.
But MLM isn’t magic
Sure, you can make a lot of through an MLM opportunity, but the reality is that most people who sign up to such opportunities never actually do.
In fact many people actually end up at a loss – because they end up buying the companies products to sell, but never actually manage to sell any.
However, I’m not saying that to put you off…
I’m saying it because one of the biggest reasons people fail at MLM is because they don’t know what they’re getting into.
They get told all the good bits – that it’s an amazing opportunity, that they can make a ton of money, and that it’s really easy…
But they’re only getting told that because the person telling them it wants them to sign them up onto their team so that they can make money off the back of them.
What they generally don’t get told is that MLM requires work, and usually quite a lot of work too.
Unfortunately more often than not people are only left to find this out after they actually make the decision to sign up or buy into the opportunity.
Which is one of the reasons why MLM and such “business opportunities” have gained quite a bit of bad rep.
But don’t get me wrong, MLM can be amazing – providing you’re the right kind of person.
Which brings us onto tip number 1 for succeeding in MLM…
You need to be the right kind of person
MLM makes it easy for anybody to become their own boss & build up their “own” business.
This is one of the biggest selling points people promoting MLM generally use to bring new recruits into their business – because they know that people would love the idea of becoming their own boss, and working on their own terms.
However, the truth is that being your own boss is hard work – and since as you’re own boss you’re directly responsible for your own income you’ll often find yourself working much longer hours than you would do if you were working a traditional job.
You need a long term vision
Most people get into MLM based on the promise of riches or the thought of an additional income. Generally though new people getting involved with MLM don’t even begin making money until around 4 to 6 months of joining a company, and even then the amount they end up making at that point generally isn’t anything life changing.
So the first thing you’ll need to have to succeed within MLM is a long term vision. If you’re joining a company because you want to make x amount within x days, weeks or months then you’re most likely going to fail as you’ll most likely become disappointed & give up when you don’t hit your target.
But if you can approach it with a long term vision and focus on where you’ll be after 12, 24 or 36 months (and have the willpower to stick at it during that period of time even if you’re not making any money) then you’ll generally do much better.
Results are always better when they come unexpected.
You need solid self-discipline
Many people like the idea of being their own boss, and want to be their own boss, but are not ready to be their boss.
Being an employee, going to work then coming home & getting paid is easy (even if sometimes it might not feel like it)..
But working for yourself & getting out of bed on a morning when you don’t really need to isn’t easy.
And neither is focusing on your work when your favorite programs are on TV…
So before you dive in with both feet & take on the challenge of becoming a business owner you need to really question your self-discipline.
- Would you be able to get up at 5, 6 or 7am every day when there’s no immediate repercussions of staying in bed (ie a boss telling you off)?
- Would you be able to say no to your friends when they have a day off & ask you if you want to do something (because “you’re not at work either”)?
- Would you be able to keep yourself away from the TV, your phone, social media and all the other distractions?
Having strong self-discipline is vital for success in business in or out of MLM, but at the same time it’s one of the biggest struggles most budding entrepreneurs find themselves faced with. So before jumping into an opportunity, question if you’d be really willing to stay disciplined & put in your absolute all to see success from it.
You need to be a people person
MLM is all about building a team, and leveraging the efforts of your team – hence why it’s often referred to as network marketing.
It’s entirely possible to make money from an MLM opportunity without ever talking to anybody, but if you want to become truly successful at it then you’re going to absolutely have to network with the people in your team.
In MLM, ultimately YOU are the business which means that to become truly successful you’ll need to brand yourself and “put yourself out there”.
You need strong self-motivation
Along the journey of becoming & being an entrepreneur there will no doubt be some testing times, and for many people these will be testing times that they’re be left to face by themselves.
There will be times when you feel like quitting, and times when you wonder why you even started – it’s part of the journey & I’d be lying if I said the same thoughts hadn’t ran through my own head too.
The key is to having strong self-motivation & willpower so that when you’re faced with a testing time you can focus on a reason to overcome it.
If you don’t feel like you’re very strong willed & you think that you’d probably just throw in the towel, then maybe you’re not ready to become a business owner just yet.
It’s better to work on building yourself up before your business, because at the end of the day you are the foundation for your business.
At a glance it can seem like quite a lot’s required of you to become truly successful in MLM, but what you must remember is that if you do manage to become successful, MLM can prove to be one of the most lucrative & amazing opportunities you’ll ever come across.
I’ve personally met several people who have been earning hundreds of thousands of dollars every single month, and have built their business to the point where it only takes up a few hours of their time each day to manage… Which I think you’ll agree, is insane.
They’re literally putting in 1-2 hours work per day & generating 6-figure monthly incomes… And that’s not a “fluke”, because according to the list of top industry wide MLM earners there are thousands of people worldwide earning 6-figure monthly incomes from MLM opportunities.
So it might be hard, but it can certainly be rewarding.
Branding yourself is vital for long-term success
As mentioned above, when it comes to promoting MLM opportunities ultimately YOU are the business (or at least you should be).
I’ve seen some people who like to brand their business around the company or opportunity they’re promoting, and they can become successful in doing so but generally it’s a big mistake and as result their success will be short lived.
You see typically MLM companies have a short overall lifespan, and so if you brand yourself around a particular company then you’re essentially “stuck” with that company. If they go down, you go down – so branding YOURSELF and not the company is absolutely vital for true long-term success.
When people follow YOU as opposed to the company you’re promoting, they’ll go wherever you go & listen to whatever you say, meaning if you come across an even better opportunity you can jump ship & take advantage of it, taking your team with you.
So what makes a good opportunity?
As you can probably imagine the company that you’re promoting plays a big part in your level of success too.
You could be the most determined & hardest worker in the world, but if you’re involved with a rubbish opportunity then chances are nothing too great is really going to come of it. Therefore it comes without saying that you need to pick a great opportunity if you want to see massive success from MLM.
Firstly, you need to pick a company with a great product.
The better the product (or products) the company offers, the less selling you will have to do which will make your life (and your teams lives) much much easier.
It sounds like straight forward advice, but often a lot of people get distracted by the compensation plan & end up choosing an opportunity solely on the amount of money they could potentially earn instead.
The compensation plan is obviously also very important factor to consider when choosing a company to promote, but it should never be looked upon as the sole factor.
A company might offer $5,000 commissions per sale but that’s not going to be any use if you can’t actually sell anything, so always put your primary focus on the product (or products) then look into the comp plan.
And on top of that, as we mentioned above to become successful in MLM you’ll need to brand yourself so you don’t want to be seen promoting naff products – you have a reputation to consider
One of the easiest ways to find a good company to promote a good thing to do is look for other MLM’ers in your niche and see what they’re promoting. Try and find a common trend, then scope out the company and look into the average earnings to see if it’s worth your while.
The real success lies in your team
In my MLM ventures I made the same HUGE mistake in each company I joined…
I joined a bad team.
I had no established upline support which meant that when my new team members were coming in – I personally had to deal with them myself.
Whilst I still managed to find success, I did this purely by being a super recruiter and bringing a LOT of people into the companies I joined.
But the most frustrating part for me is that I could have made so much more money if I had the leverage of an established upline (or system).
This is the KEY to becoming TRULY successful in MLM.
By truly successful I mean finding both time freedom and money freedom…
You see if you don’t have that established upline or system to send your new members too, then like me you’ll be doing all the hard work of training your members up yourself which means you’re having to put a lot more time into building your business.
It’s much much easier to simply join a team within the company that’s already got leaders and systematic processes in place, so that when you get new members yourself you can simply send them on up to your upline who’ll train them up for you.
So if you want to become truly successful in MLM then one of the most important things you’ll need to do is carry a LOT of diligence on the person that you’re joining before you go ahead & join.
Find out about what team they’re in before you join them, and make sure they have solid processes in place for you to send your new members through as and when you get them. I was lucky to have affiliate marketing experience prior to going into MLM, otherwise without an upline I would have no doubt failed.
Don’t make the same mistake!
And the other huge part of having an established upline is that the team spirit helps keep you (and your team members) motivated. This helps you get through the tough times, and it keeps your members in longer meaning higher retention rates & more residual commissions in your pocket as a result.
Think of your network is your Net Worth
Wrapping It Up….
As with any business succeeding in MLM is by no means easy, but the rewards can definitely make it worth the while.
To become truly successful you need…
- To think like an entrepreneur & treat your MLM business like a real business (not a gimmick)
- To pick a great company, with great products & a great compensation plan
- To join somebody who is part of an established upline that has leaders or a systematic process that will train your new members up for you
Providing you put in the work & approach an MLM opportunity with a long term vision then you can no doubt become successful at it, and if you join a great team then you can also have a lot of fun & meet new people along the way too.
For me, MLM is a bit of a love-hate relationship. There are many perks to it but at the same time you will undoubtedly get people who will join your team, not do anything, and then blame you for their lack of success.
MLM is a funny thing, but I do definitely feel like it’s something that everybody should at least “try” out – even if it’s just for the networking side of things.
It can be an awesome way to learn how to start thinking like a business person, and even if you do fail you can build up a skill set that you can apply to other areas of your life, and any future ventures that you might decide to participate in.
So I hope you enjoyed the post, and as always if you have anything to say or add please feel free to leave a comment below.