The Three Truths I Learnt About Network Marketing
Yesterday, I have shared my failures in MLM. There was a point where I believe others saying that MLM is a scam, it is a pyramid scheme where you cannot have a real asset since your success relies on the people you recruit as your down lines. Despite all these words keep echoing in my mind, I didn’t just stop there because I learnt that if I want to succeed, I must do what the 1% does, not the 99%. In my mind, I am thinking that if MLM is really what others proclaimed to be bad, why are there still people doing it and actually succeed from it, this means there is something that they have where I don’t have right now to succeed.
I continue to seek strategies to succeed in MLM online, reading multiple blogs and guides I found on the Internet. I realized that the reason I cannot succeed is that I do not know the correct way how to actually market and sell my products, which leads to the ugly truth I found out about MLM. The strategies taught to the recruits are not appropriate without a foundation of understanding how sales and marketing actually work.
Truth #1: The current recruiting strategies do not work as it claims to be anymore.
The strategies we often learnt typically worked in this flowchart.
1. Take out a piece of paper and a pen.
2. List down your friend’s and family’s name.
3. Call them one by one to invite them out.
4. Conduct a 3-way call to recruit them in.
5. Teach them the same methods you learnt for duplication.
The problem I found out is this strategy is a very tiring process. You have to call a lot of people, and not necessary they want to listen to your opportunity, thinking that they “need” it to become successful. To add to the difficulty, not everyone has a lot of friends and family members to recruit, adding on the possibility that they will reject you because you tried to hard-sell them on the opportunity. Once they run out of friends and families to ask, they ended up with no more leads and forced to ask anyone they see on the streets to join the opportunity. Most people quit because they were not taught how to get more potential leads.
Truth #2: Everyone is doing the same thing; you are indirectly competing with each other.
In all MLMs, this is not a surprise at all. Everyone wants to be the one to distribute their products to as many people as possible. Imagine a scenario, where everyone who works the same MLM Company as a commission-based salesman is in the same location and a customer would like to purchase the MLM products. Who will be the one to handle the purchase and receive the commission?
Everyone will be asking around if anyone wants to make a sale, or fighting with each other to get a sale. I have experienced a case while prospecting were some of my friends already heard of the same MLM opportunity before I even begin telling them about the same opportunity, using the same scripts and strategies I have learnt.
Truth #3: MLM is not as easy as you think, but it is worth it if you do it right.
If there are people who tell you that MLM is easy, that is totally a lie. You require a lot of skill sets in marketing and sales. Unfortunately, most people have not trained the right way in the MLM industry, causing the reputation of MLM to be tarnished and being categorized as a scam or a pyramid scheme.
As many people are used to working 40 hours a week to get paid, this business does not guarantee that because it is commission-based. On the bright side, you are paid based on results and there is no limit to how much you earn. Aside from it being a good asset, personal development is another major benefit you can attain as you learn people skills, improve your attitude and discipline and not forget, your hidden potential.
My Point of View towards MLM thus far...
Based on what I have experienced so far, MLM is good for me because it triggers my desire to learn more to become a better person. Also, I want to build a sustainable asset for myself and a great team to work with in case I have other future business projects and would need someone to work with anyways. In the next few episodes, I will be sharing some of the strategies I have learnt throughout my journey.
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