If you spend any amount of time at all online looking for ways to make some extra money, sooner or later you will come across someone pitching an MLM program to you. In fact, it's entirely possible you have had a friend or relative try to get you involved with buying, using and selling any number of products, ranging from vitamins to colon cleanser. It's all very annoying, but there would not be so many people doing it if it didn't work, right?Well, maybe.
For those few who haven't heard about it, MLM stands for "multi-level marketing" and that acronym has become tarnished over the years so many people involved in the industry will refer to it as "network marketing". Either way, it's the same thing.
To answer the question "are MLM's legit" the short answer is "yes" - as long as they follow the rules set out in each state on how business may be conducted. Those rules are supposed to keep people from promising any sort of money level as nothing is guaranteed in this business model. This brings up an equally important question, which is:
"Can you get rich from MLM?"
Well, yeah, you can but... it's not likely.
First off, it takes an insane amount of dedication and work and time to make a substantial amount of money with this business model. When you get pitched on the business your "upline" will typically drawn out a graph or chart of how much money you could make if you get X number of people to do the same. It seems very easy, until you get out and try it.
You soon find out that most people are lazy and even though they want to be able to make money from home, they're not willing to work a long term plan to make it happen. So you end up sorting hundreds of people to find a few who may start to do the work, but then fall off for one reason or another.
Typically, the ones who end up making good money through network marketing have dedicated every waking hour to "growing" their business or they were in on the startup of a particular company and make their money on training materials and through the work of their "downlines" whom they keep encouraging along, knowing the dismal rates of success.
With the amount of labor it takes to make an MLM successful, you will have more success, and sooner, with many other online business models you can find. There are affiliate programs, consulting work, paid surveys... any number of things that will likely have a better payoff for your efforts. Hope you enjoyed this post. More to come soon
For those few who haven't heard about it, MLM stands for "multi-level marketing" and that acronym has become tarnished over the years so many people involved in the industry will refer to it as "network marketing". Either way, it's the same thing.
To answer the question "are MLM's legit" the short answer is "yes" - as long as they follow the rules set out in each state on how business may be conducted. Those rules are supposed to keep people from promising any sort of money level as nothing is guaranteed in this business model. This brings up an equally important question, which is:
"Can you get rich from MLM?"
Well, yeah, you can but... it's not likely.
First off, it takes an insane amount of dedication and work and time to make a substantial amount of money with this business model. When you get pitched on the business your "upline" will typically drawn out a graph or chart of how much money you could make if you get X number of people to do the same. It seems very easy, until you get out and try it.
You soon find out that most people are lazy and even though they want to be able to make money from home, they're not willing to work a long term plan to make it happen. So you end up sorting hundreds of people to find a few who may start to do the work, but then fall off for one reason or another.
Typically, the ones who end up making good money through network marketing have dedicated every waking hour to "growing" their business or they were in on the startup of a particular company and make their money on training materials and through the work of their "downlines" whom they keep encouraging along, knowing the dismal rates of success.
With the amount of labor it takes to make an MLM successful, you will have more success, and sooner, with many other online business models you can find. There are affiliate programs, consulting work, paid surveys... any number of things that will likely have a better payoff for your efforts. Hope you enjoyed this post. More to come soon
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