If you’re looking to start an MLM business there are certain mistakes you’ll want to avoid making. These are mistakes that newbie’s and veterans alike make. They can often hinder your success with your MLM business. Knowing these mistakes can make all the difference in helping your business get in profit as soon as possible.
Start An MLM Business Mistake #1
Not finding an mlm business that has a good comp plan. This is text book. Who wants to be bothered with having to balance the legs and all that nonsense? Give me a simple comp plan so I can blow it out. Most newbie’s just want to get started and make good money. But once they see that the comp plan is ridiculous they get discouraged. Check to see if your company does charge backs. Check and see how soon you can get the big checks. This is important. This leads into the next mistake.
Start An MLM Business Mistake #2
They start out with low ticket item products instead of top tier opportunities. If you’re looking to earn serious money in a hurry, it’s very hard to do so selling a $12 product or service. This also discourages a lot of network marketers. I suggest you look for top tier opportunities where you can make big bucks in a short period of time. How? Easy. You aren’t selling those low ticket item products and instead you’re getting bigger checks sooner.
If you want to earn 10 grand per month reverse engineer from that $10,000 and see how much it would take you to get there. With a $12 product that would take the efforts of you and your downline moving something like 830 products. Ouch. But if we’re talking a product that goes for $500 it doesn’t require a whole lot more of an effort if done right. And the rewards are out of all conceivable proportion.
Start An MLM Business Mistake #3
This is a big no-no. So many people make the mistake of following their company directives and recruiting their family and friends. They think this is the best way to do it. Well I feel this is false thinking.
I have personally lost friends over this. After trying to recruit one of my buddies into two of my opportunities he stopped taking my calls. He started acting cold towards me. And he told my friends that I’m trying to use him. Well that’s what I get for trying to mix business with friendship. Some people don’t take it the way us entrepreneurs think.
We think we’re sharing and helping. But to someone who is content with a 9-5 our thinking just doesn’t make sense. Besides, my friend wasn’t even a targeted prospect. He had no interest in my products.
The better way to do it is let people find you through your marketing materials that speak directly to them. Now instead of chasing and losing friends, you’ll have someone who is interested in your business and targeted. It’s much easier to add people into your business this way.