Multi Level Marketing: An Emerging Business at Low Cost – My Thoughts about it

Everyone wants to get an extra income by any means and most would indulge into business. However, when we say business the most common problem is the capital. Most of the time when we start up a business we need huge capital.

I remember my friend’s sister who just opened her sari-sari store and she had to shell out more or less Php 30,000 from renovation of the store to appliances to the goods she will be selling. Still that’s a huge amount of money for an average Filipino earner.

A new type of business that is really becoming popular to most Filipino is the Networking Business. The low capital with a promise of huge income is the selling point. Networking or Multi-Level Company opens a door to business opportunities for the basic earners who aspires to become entrepreneurs without shelling out too much of their earnings.

The multi-level marketing (MLM) is one of the simplest and easiest ways to earn an extra income. This is a best deal for Filipinos who are looking for an extra income to augment the growing expenses. It gives the entrepreneur, an advantage to sell high quality of goods and a variety of useful things that everyone might one take advantage.

However though the success rate is totally dependent on how many people the entrepreneur encourage buying the product and encouraged people to sign up and join. Entrepreneurs engaged in MLM needs to establish their own client. When I say establish your own clients it doesn’t mean that you will need to recruit everyone I come in contact with. What I would do is to choose the right client, I will choose those people who have the right attitude and enthusiasm just like me. Another thing is for me to always put the saying into action: “Time is Gold!”

I think for me another to consider for MLM marketers is the right pitch. There are a lot of people in this business who pitches “…this is the company where could get rich fast and easy…” or others would say “I haven’t finished college but I am earning 5 times their salary!” I think this is not a right pitch. I think it would be better if you pitch your products based on your personal thoughts and knowledge about the product, your experience about the product, your personal achievement when you joined. It is hazardous if you promise a gold and diamond or milk and honey at the beginning when youre trying to convince people. In my own opinion when people did not get what they’ve been promised then it would hurt the business when my recruit failed and did not get what I pitched them (gold and diamond am sure they would get out there and spread some words that is not helpful at all to the company I am trying to build. They may even brand your company as scam.

This is just one of the MLM Banner and marketing slogan

Before even joining the company (MLM), I have to research about the company. I need to choose the right company for me. I will choose the company with products where I believe in and the products that I like. It would be best if I have tried the products and experience the result. I will test it to a family member as well and or even my friends. Then, I will use their together with my testimony to pitch for my prospect clients be it a customer or a recruit. Because here’s the thing, I can never sell a blackberry if I haven’t even touched it. Or I can never say that snow is fantastic if I myself haven’t experience it. My experience on the said product is my talking point and my selling point at the same time.

One thing to consider before joining this company is the demand. I will evaluate my circle first because these are my first costumer or maybe they will be my first recruit. Again, never ever pitch in lollipops if your social networks are grownups already. Here’s a good thing though, if there’s an absence of need create it so you could sell or even recruit them to join your network. Again you can only create a need if you yourself have experienced it.

For example, working in a call center environment was my first job. I had a hard time then because I had no knowledge about the products. I never experienced a touch screen cell phone, a business cell phone, all I know is the bar type black and white Nokia phone. In order for me to succeed is to talk to people around me who has culpable knowledge about the product. I have talked to those who have experienced the product. I attended phone exhibits and had a firsthand experience of the product I am selling over the phone. I read about the US cell phone market to have a wider understanding about the business.

Next thing to consider before joining is the market as a whole and the age of the company operating in the country. The longer the company is the more the market is saturated. I am convinced of this general notion and once the market is saturated the more people become frustrated if they were promised of “gold and diamonds”.

To summarize everything, here’s what I would do before joining MLM:

1.       Know the Market – so that I can have a better understanding on the needs of my market in this way I would know what MLM I would be joining

2.       Know and build my Social Network – my friends, family, my extended friends, my officemates, acquaintances, and the list goes on. To know their needs and have a better social understanding would help me choose the right MLM to invest with. Also, they are my prospect and initial buyers/users/members so I would need to know what they are buying, their interests and their hobbies.

3.       Know the company and use the product – this would be my talking point to my prospect buyers/users/members.

4.       I shouldn’t pitch “gold and diamonds” type of pitch. It was never helpful.

5.       Time is GOLD – I shouldn’t be wasting my time. As the days goes by I should be working really hard to build my network and satisfied clients. I may have invested a few thousand bucks for the start up kit but I will think that I have invested millions in to it.

Lastly, I will set my target from a daily basis to monthly and to a yearly basis. This target would help me achieve my goals. You should be monitoring your account from time to time. Other’s think that once they invest in MLM money would come next but actually the answer is always NO…. Entrepreneurs need to work really hard and when I say work hard I mean "to exhaust all effort". Actually those very successful MLM Entreprenuer are those who travels, those who sacrificed a lot.

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