Now that is the question. If I were in a room and someone asked “Who here has been in an MLM?” My hand would go up. If they asked, “Who had a good experience with an MLM?” Again, my hand would go up. Proudly so I might add! Hmmm, I can already tell I need to write a DISCLAIMER: I do not want to promote or tear down any particular MLM/network marketing group. I believe that anyone can succeed in direct sales as long as they have the persistence AND desire to make it work for them.
They come in all shapes and sizes these days. From vitamins, to tupperware, juice, cosmetics, soap, energy drinks …simply pick which one you want and start your business! So why the bad reputation? Honestly I don’t get it, I mean, there is bad buisness and bad salesmen everywhere. Some great things about starting an MLM are that they have a very low cost sign up rate. Whereas starting a franchise business you’re looking at 30K to 1M depending on what you want to do. But believe me, whatever kind of business you are in or want to do only those that do the WORK will be rewarded. You can’t just sign up and expect to get rich.
One on one=Powerful sales!
Here are some ‘Tim Schmidt’ MLM tips
- They must have a training system, audios, books, weekly & monthly meetings are important (associate with like-minded people).
- Learn from a good mentor who has the results you want. *Don’t take advice from someone who is broke!
- If they advertise a ‘get rich quick’ concept, walk away. Heck, I’d even say RUN away! No LEGAL business that has an on-going profit is ‘get rich quick.’ Some businesses may appear to have a ‘boom,’ but believe me that is after years of planning and hard work.
- Excellent leadership that you trust. As John Maxwell says, “Everything rises and falls on leadership.” If you do not trust your upline or company leaders I’d bet money that you will not last long in that particular company.
*Be careful for
Company’s that try to ‘own’ you. If they put walls and restrictions on joining and quitting, and what you can do after you quit I would be wary of this. Make sure they put the distributor first. YOU are the advertising and marketing dept. Your work should be justly rewarded, not a TV network.
Honestly folks, I owe 100% of my success to what I learned while I was in an MLM. It taught me the true VALUE of investing in myself, my business, reading, listening to audios, and having ‘Big Goals!’
Take care,
Tim Schmidt
February 17th, 2009 at 3:41 pm
Hi Tim,
Good points all. My own MLM experience was not that good, but I do owe part of my desire to be an entrepreneur to what I learned there and the people I met. It just wasn’t for me. Now I’m a franchise owner and just recently was exposed to some of Maxwell’s ideas. He and I are on the same thought lines, but he’s way ahead of me. Now I can easily see where I’m wanting to go as far as leadership; he’s already been there.
February 17th, 2009 at 8:16 pm
Ahhh…MLM = Multi Level Marketing. After google helped me this blog entry makes more sense.
February 17th, 2009 at 9:31 pm
Hi Tim - Your advice about MLM is right on! And it applies to succcess in anything in life. All but 8 years of my adult working life has either been self-employed, on straight commission, or a small salary + commission, and includes good MLM experience. One other suggestion for consideration…you have to make the decision (not hope) to succeed and the commitment to do the hard work it takes. Remember to reserve quality family time!
February 18th, 2009 at 3:25 pm
Hey Tim — Great article. I’ve owned traditional businesses for most of my adult life, w/ forays into Network Marketing. In 2000, I sold a business that I’d had for 22 years and dove into this industry. The key = make a decision, become a student of network industry and pay no attention to the naysayers.
Today, my business is growing. There have been ups and downs, again –DEAL WITH IT.
I also coach clients in this industry. Those who are committed to learn and apply their coaching do well. Those who are looking for a handout, or treat this like a hobby, don’t
Keep up the good advice.
February 18th, 2009 at 6:47 pm
Hey Tim - great insights. Robert Kiyosaki says many of the same things in his “Business School, for People Who Like Helping People.” Right On!
After studying abroad for 18 months, college and masters program I completed, I’d say the same thing…100% of my actual success is attributed to the learning system I found in a Networking business.
Thanks for the fresh ideas!
February 24th, 2009 at 5:28 pm
I was a physician with an unquenchable thirst for entrepreneuring. Never took a single business course in school but learned all I needed to know through the support systems of these MLM’s. I was somewhat successful, but the part I never could figure out was getting over thinking of everyone I met as a “mark”. I didn’t like that attitude in myself, and eventually quit MLM’s for good because of it. Does anyone know how to get around this thought that everyone is a target?
February 25th, 2009 at 11:17 am
I never heard “mark” during several years in MLM. It sounds as if the person is thought of as a target for personal gain. Everyone wears shoes, but not everyone will buy shoes from your store. Everyone wants to make money. (Although some want it taken from you and me and given to them. That could qualify us as “marks”) But not everyone wants to make money the same way you make money. Not everyone wants what you have to offer. The “mark” attitude turns people off. It will not work in business. The sincere attitude of helping people does work. To help someone, you have to know what kind of help they want. If they can believe you have a way they can get what they want, what they’re looking for, great. If not, ok. It’s about them.
March 7th, 2009 at 10:52 am
More than 99% of participants in MLMs will LOSE money. Why? Because it’s not a legitimate business. It’s simply a transfer of money, and the “products” being sold are the cover for the pyramid scheme.
http://www.pyramidschemealert.org
March 9th, 2009 at 9:50 am
The hardest thing for most people to learn who get into a MLM company is this: “You don’t make money in MLM, you EARN money by providing a service or marketing a product that others need. When the concentration is on “serving others” the money comes automatically” Thank you.
March 9th, 2009 at 12:35 pm
Tim,
Very concise, insightful summary regarding MLM. I’ve been in several opportunities and while I haven’t been successful in any of them except the one I’m currently in I agree with you that you learn a lot about being self-employed, discipline, goal setting, etc.
Thanks!!
In response to Jeff T - while some people look at others as “targets” others look at them as “business partners.” The difference, I believe, lies in the training they receive from the company they’re associated with. MLM is like any other “traditional” business in that we MUST develop relationships with our clients and especially our business associates. I believe that once you start looking at them in a different light you may rethink your opinion of MLM. Hope that helps.