Whenever we hear or see the word Multi-level marketing (MLM), also known as network marketing, we tend to cringe and find ways to not get involved. The perception is that multi-level marketing business does not work for majority of the people and a lot of people end up getting scammed to spend lots of money and time with no returns whatsoever.
Whilst this may hold true for many who have dabbled in network marketing and did not succeed, there are also a handful of people who will beg to differ. Of course, these are the group of people who are successful in the multi-level marketing business. The percentage of such successful entrepreneurs in the network marketing business is rather small compared to the total number of people who got into this type of business.
But isn’t that the same case as with any company? How many General Managers or Chief Executive Officers can there be in one organisation? To reach the top of the game in any business, you can never find everyone at the top. Only the smart workers get there. This is the same case for multi-level marketeers.
If you work on the right strategy, along with good products or services to match, you can make it to the top. There are many factors that can bring about success or failure to being a network marketeer, but this article will not dwell into them for they are too wide and far to cover.
What this article hopes to cover are some points on the pros and cons about getting into the multi-level marketing business as a means to be your own boss. Have an open mind, and maybe you will see some light. At the end of the article, even if you are convinced there are more pros to cons, but feel that it is still not your cup of tea, it is okay.
I’ve personally tried my hands in several multi-level marketing companies but nothing have worked for me. Whilst I didn’t gain any success, I believe that it is not an impossible business. Read on below for some of the common pros and cons of multi-level marketing before you judge that it is definitely not your cup of tea.
Pros of multi-level marketing
1. Easily accessible support
In this business, rather than going at it alone, you can get help from your uplines and they are always there to support you. That’s what they are there for and it’s not really a boss-employee relationship like in the corporate rat race. What’s important is that you must have an upline whom you can work with. So before you blindly sign up as a multi-level marketeer, make sure you know for a fact that you can get along and work with your direct upline.
2. Motivation and training
Multi-level marketeers are often provided free motivation, sales and product training sessions by the companies. These motivational talks are important and useful to help build your confidence and most importantly, boost your motivation to work harder. As a group, you may feel more group dynamics compared to being on your own.
3. Good products
These days, many multi-level marketing companies provide some excellent products. These products, when recognised for their benefits and have gained people’s trust, speak for themselves. Sometimes, you may even find yourself having ready customers for the products. So, choose wisely when it comes to starting off with a multi-level marketing company. Choose a company that carries excellent products that benefit many people.
4. Incentives
Often, network marketing companies have many incentives as rewards to their distributors. This encourages them to do more and excel so that they can win the incentives that include cash, all paid for trips, cars, etc. Whether or not you win these attractive prizes is one thing, but the very existence of such incentives tend to drive you to do better.
Â
Cons of multi-level marketing
1. People’s negative perception
A lot of people have been approached the wrong way by multi-level marketeers and because of the unpleasant experiences, they tend to close up and decline any invitations by other network marketeers. It’s unfortunate that their perception of multi-level marketing has been tainted.Â
2. Dealing with rejections
Since people often say no to multi-level marketing, one can expect to face a lot of rejections when approaching people. This is a fact that’s inevitable. But those who persevere and take the right approach may just come out the winner.
3. Stocking up and strapping up cash
Some multi-level companies require their marketeers to have a minimum amount of stock up on the products on a monthly basis. If you are just starting out with a small network of customers or downlines and have low earnings, this may be an issue to you to keep forking out on stocks that you aren’t able to dispose of. Try to find a balance of an affordable monthly take-up rate when finding the right company to join.
Â
As you can see, there are pros and cons to being a multi-level marketeer. However, it is your call how you can deal with the cons and turn them around to make your business a success. Don’t close your options too soon before you get to see what the potential upside may be.
{ 1 comment… read it below or add one }
well said…