It can be tough to know what career path to take. We all have a finite amount of time on this planet, so it’s important that we make the most of every day.
The question is: What do you want to accomplish with your precious time? I’ve explored different careers and how they might affect my lifestyle in various ways. Now it’s time for me to decide if launching an MLM business is right for me!
In my research, I learned that MLM stands for “multi-level marketing,” and it refers to an organization that has a network of independent distributors who sell the company’s products or services.
This type of business model is appealing because:
• It provides you with flexibility in terms as where your office will be located, which can help if you’re looking to stay close to your family and friends.
• You can choose the time that you want to work, which is great for people who like spending time outside on activities such as running, hiking or biking.
MLM’s also allow their independent distributors a higher margin of profit from sales because they’re not paying overhead costs associated with brick and mortar locations.
What are the Cons?
One of the pros to MLMs is that you can set your own work schedule, but one con could be that if you don’t sell enough product or service in a given month, then there might not be any income coming in for you. You also have to put an investment up front to buy a certain amount of product or service in order to become an independent distributor.
People who are already established professionals with other careers might not want to risk their current position for the uncertain chance that they’ll be successful at MLM’s.
Some people could be drawn to MLMs because they were taken in by a scam or pyramid scheme. These are illegal and you should avoid them in any capacity! Scams are targeted at people who are in need of work and want to make money; they’re preying on their hope for a better life. Pyramid schemes are scams that can be seen as a form of an illegal investment. Pyramid schemes work by having a small group of people at the top who are profiting and getting richer, while everyone else gets poorer or loses everything.
Some of cons to MLM:
First, you have to put an investment up front to buy a certain amount of product or service in order to become an independent distributor. People who are already established professionals with other careers might not want to risk their current careers and put up the money.
Second, you have to pay a monthly fee for that investment which will continue as long as you are an independent distributor in order to remain able to receive commissions or make any sales from people who buy the product after they’ve been “recruited.”
Third, there is no guarantee of success – even if you are one of the few who manage to get some sales and make a bit of cash, this might not last as MLM companies change their compensation plans.
Fourth, it’s possible that even if you work hard at recruiting other people into the business for which they have to put up an investment in order to stay active distributors, those potential recruits are going to be nervous about risking their current careers and put up the money.
Fifth, if you’re not someone who can pitch a convincing sales letter or convince others that they need your product in order to have any chance of success with MLM, then it is unlikely that this business model will work for you.
Sixth, you might not be able to handle the level of rejection in MLM.
Seventh, if you’re someone who’s only interested in making money and don’t care about building a team or maintaining relationships with your downline then this might not work for you either.
Several online courses claim to teach you how to become a multi-level marketer. I found a review of one such course offered by Bhip Global on the I Buy I Review website. I recommend checking out reviews of similar online courses to determine if they’re legitimate.
The most important thing I discovered is that patience, discipline and persistence is needed to succeed in this industry.