Home Based MLM Businesses: Why There Is No Better Time Frame Than Today To Get Involved
With the current economic crisis opting for the long road to recovery, many people are considering a home based MLM business to restore a lost source of income or supplement their current paycheck. And yet, if you’re smart, now is the time to explore a home-based MLM business to create a fortune, not just earn a few extra bucks.
Don’t get me wrong, the network marketing industry did not escape unscathed during this financial crisis. However, if you stumble upon the ideal MLM home based business program, you are in for a gold mine. I mean, let’s be honest, people are eager to improve their financial situation. Today, people will be open to opportunities as long as it is a good fit for them. So, let’s go over what an MLM home based business is and how you take advantage of potential opportunities.
MLM, which is short for multi-level marketing, is also commonly known as network marketing. The appeal of an MLM home based business is really quite simple. No other business model empowers an ordinary person to create wealth and prosperity like network marketing. This is true regardless of age, race, technical background, or business knowledge (more on that and some caveats in a bit).
The reason why an MLM home based business can be huge for anyone is because companies that employ this distribution model exchange marketing dollars in exchange for their word of mouth advertising. In other words, instead of having to pay huge amounts of money each year to the advertising industry, they rely on their clients to spread the word. And trust me. I’ve built a great little advertising career over the last 10 years. I have worked with clients who spend over $100 million a year in advertising. Therefore, these network marketing companies are saving quite a bit of money.
So what do network marketing companies do with those savings? They pass them on to you, the customer-turned-business partner. When you refer clients to your MLM home-based business, you receive commissions and bonuses paid for helping the company market and distribute its product. In essence, you are part of their marketing arm. The more customers and business associates you recruit, the higher your commissions, the higher your bonuses and incentives, and the higher your paycheck.
What really makes a home based MLM business worth it.
However, the true appeal of an MLM home based business can be defined in two words: residual income. This is also known as passive income or leveraged income. Basically what this means is that as you recruit people to your MLM home based business, you eventually start earning income from your efforts. Over time, your income will be completely independent of your own personal efforts. This is the attraction of the business opportunity. The ability of absolutely anyone to create a substantial residual income and retire wealthy in a fairly short period of time.
Of course, if it sounds too good to be true, then it must be, right? Well, that’s not really the situation here. And yet, 97% of network marketers fall short with their home based MLM business. Not because the network marketing industry is a sham, though. Rather, this is because the MLM industry promotes a prospecting and marketing model that worked well in the 1970s and 1990s, but is not relevant in the Internet age. Let me explain.
The Secret to Success of an MLM Home Based Business
The rewards in any MLM home based business are undoubtedly a direct result of one specific thing, and one thing only: your ability to brand yourself and market yourself as a leader. Now, some of you are thinking “I’m not leadership material.” But you would be inaccurate in that assessment. Becoming a leader is easier than you think, and you don’t have to be an outstanding speaker or business expert to achieve that status. Not in the modern age of the Internet. What you do need is a strong desire to become familiar with a few simple tools and skills, plus a strong determination to take meaningful action.
The internet now allows anyone to learn how to market their MLM home based business the right way. Gone are the days when you had to chase down family and close friends just to beg them to watch your sales presentation. Gone are the days of walking through malls to hand out flyers.
Today, you can take advantage of any number of incredibly effective and cheap, if not free, internet marketing tools to promote your business. Generating countless leads each week is very simple if you have a small advertising budget. And if cash is tight, you can still produce tons of free leads for your home-based MLM business using free tools and strategies. It will just take more time. Definitely not for that lazy opportunity seeker or to make a quick buck.
One important thing that hasn’t changed in the home based MLM business environment is the incredible importance of aligning yourself with a capable advisor. The internet is starting to change lives literally overnight for people who aren’t shy and dove in. But it is like a sea, never still and always agitated and changing. If you don’t know how to interpret the proven, scientific formula that helps average people make six and seven figure incomes overnight, you’re going to end up lost at sea. This is truly critical.
If you want to make extra money or just get rich, do what I did. Find an MLM home based business opportunity that has a unique and high demand product. For me, it was gold and silver. Not a bad idea in this dire economic climate.
Stay away from products that could possibly be considered luxury. There is nothing against fantastic health drinks and super vitamin MLM home based businesses in the industry, but today you will have trouble marketing $40 fruit juice. Stick to the goods and services that the people need to have and already use, and will likely experience an easier time.
What To Do When You Find The Right Home Based MLM Business Opportunity
Once you’ve selected a great home based MLM business opportunity, meet with people from that company who understand how to market over the internet. Traditional marketing is still valid and effective, however your rewards ratio improves dramatically when you can figure out how to market on the internet. Learn all you can about inbound marketing as explained by Mike Dillard in Magnetic Sponsoring. Assess if this is a path you feel comfortable with and know that you have the innate power to achieve anything you set your mind to. Then get to work. Very busy.
Make use of your mentor. Ask him for a plan. He or she should have one if they understand what they are doing. They will give you the advice and internal tools of the business. They will teach you how to use them. And when you stay disciplined, you just won’t come up short. Half a year ago, I didn’t know anything about how to rank well on the first page of Google. I can do it with my eyes closed today thanks to the gold nuggets my mentors gave me. I generate 85% of my personal contacts completely free. And I also make money from my main home based MLM business plus 12 other affiliate income streams. So, in case I wasn’t clear, let me stress once more: the time has come to get involved with the right home based MLM business, trust me. Decide today that you will make the investment of time to learn new skills and you will succeed.