Making MLM/Network Marketing Your Best “Near-Passive Income” Source
The term “MLM” becomes a common and well-known business model everyone heard about since its introduction in the early 1930s. However, due to the appearance of multiple illegal pyramid schemes that worked similar to those legal MLM/Network Marketing businesses, there are a lot of reviews from the public that are mainly negative. If you just want to know network marketing in general or whether it is a good fit for you, this publication regarding the truth about network marketing will be a good fit for you. In this publication, I will mainly talk about how to make your MLM/Network Marketing your best “near-passive income” source.
For those who are interested in network marketing but do not have a company to start with, I highly recommend you to read this publication before you start looking for a company, to begin with.
Wait… you said it is possible to earn a lot in MLM? I have heard many stories about people losing a lot of money in MLM.
Well, I don’t say that those stories aren’t true either. This usually happens if the company implement hidden charges such as monthly membership fees or forced to buy products to maintain membership status and so on (unless you are informed in advance before you join). Furthermore, some unfortunately joined pyramid schemes with the hope to make quick money through recruiting and ended up getting scammed from it.
Please do take note that the BIGGEST difference between pyramid schemes and legal MLM is that legal MLM companies provide legitimate and useful products in exchange for the cash invested from the customers, whereas pyramid schemes do not and heavily focused on recruiting new members.
I observed that most people who joined MLM either become busier just to maintain it or did not earn enough to replace their 9 to 5.
“Building a network marketing business until it can replace your full-time 9 to 5 job.”
The above quote is commonly used in all MLM/network marketing companies. Unfortunately, many people could not achieve that because the strategies they were taught inside network marketing is outdated. It works in the ’70s and ’80s but nowadays consumers are getting smarter, and they have more choices to choose what fits best for them.
What I meant by outdated strategies is the typical “hard-selling” strategy that was used and it is commonly targeted to the marketer’s friends and families. It involves consistent persuasion to them on purchasing MLM products and this can be irritating to them since they are forced to purchase something that they do not need.
So, how should I make my MLM business “near-passive” and profitable?
There are only 2 terms that all network marketers should know to build their business models successfully: “leverage” and “automation”. Leverage is where you have a team (usually your down lines) that does things together with you, multiplying the results you gained compared to doing this business alone. Automation is where you use programs and tools to replace daily repetitive tasks so you only focus on what matters to your MLM business.
First of all, when you are just getting started, you haven’t formed a reliable down line team yet. Therefore, instead of attempting to look or prospect for the right people to join your down line, focus on how you can help them grow themselves first. People will always think for themselves first before thinking about others, hence prioritizing their own benefits before yours. With that being said, you got to focus on “automation” first where you can eliminate all trivial tasks and focusing on delivering actual value to the market.
What kind of “automation” aspects can I create and focus on in MLM?
There are a few sections you got to focus on when you are just getting started. I will list down a few elements that you need to take note of according to priority.
- Publication platform → Your online presence/branding, very important so people can get to know you first. A platform where you can start growing your target audience.
- Auto-recruiting system → Helps you identify the right people to talk to and even recruit as your down line from the target audience you gathered.
- Team onboarding system → Train your recruits on what they should do in the beginning and how to grow themselves.
- Customer service platform → Well, need not say. Support channels are a must so your customers know how they should contact you, and it is way more organized to have all the inquiries in one place.
These four are the basics you should have when building your network marketing business, especially when you are doing it online. These systems can effectively save you a lot of time and you can focus on creating valuable content or create great offers for your network marketing business.
Once you these automation systems set up, you can focus on the “leveraging” part of your business where you start delegating some of the tasks you have to your down lines to help them grow. You can further enhance these systems or introduce new team cultures or systems to help the team and scale your network marketing business to the next level.
Conclusion
Through this publication, we can conclude that there is a potential for MLM/Network Marketing to become a great long term asset and a “near-passive” income source. The requirement is that it will take some time to build up, just like a normal business that everyone is familiar with.
Before you go, please do not forget to check out my other publications at
Facebook -> https://www.facebook.com/MarketSolversIsAwesome/
YouTube -> https://www.youtube.com/channel/UCgd41HgCVaMaLdvTSfRvwDA?sub_confirmation=1
Spotify -> https://open.spotify.com/show/2hLPUkmed4fMBVsrsJ3Fhe
More awesome tools -> https://www.themarketsolvers.com/softwaretools
I also will be releasing a free training video series specifically for network marketers/MLM to show how to build and recruit your own elite marketing team and sell your products without bugging your friends and family. If you want to be the first to get my video series, please leave a message below this blog or you can email me at support@marketsolvers.zohodesk.com.
Till then, take care!
Update: The free training video series has been released! Be the FIRST to get yours now at https://lnkw.co/mlmtutes.
