An MLM business is very attractive, because it gives the opportunity to build residual income. Do you want to know how to get the best out of this opportunity, how to make it really work for you? Read on to find out.
Find a stable MLM company
Do you want your residual income to still be around a few years from now? If yes, find a stable company with a strong track record of growth and earnings, and with high standard of ethics toward their distributors. The hot new ground floor opportunity may not be around five years from now.
Find a company with a deep and wide compensation plan
For residual income, you want to be able to build a deep downline. The best compensation plan for residual income is one that gives you increasing commission on at least 5 levels. You also want to be able to build it as wide as you like to accommodate a large base of retail customers.
Start by building a stable base of retail customers
Why is that? Don’t we want to have residual income from distributors in our downline? So what good are those retail customers going to do us? The answer is: A whole lot. You want your downline to be stable and growing. However, the ugly reality is that 95% of new distributors drop out of business after 2 months, and this attrition is going to destroy your downline, if you ever succeed in building one.
You can stop attrition, and turn it into growth, if you can get into profit within 2 months of starting your business, and are able to teach your downline to do the same. You get into profit from day one by adding retail customers fast and furiously. Your commission on retail sales should be much higher than for distributor sales, around 20%.
Add retail customers by marketing your products
Don’t lead with your business opportunity, because chances are you don’t have on yet. Instead, learn how to market your product to the right target market. This is actually much easier than recruiting and keeping new distributors. Once you have acquired that skill, and developed marketing tools for your product, you are now in a great position to transition from retail to residual income.
Recruit distributors from your customer base, and teach them to market products
Once you are in profit and are building a customer base, begin to recruit distributors from your customers. Now you have the skill to run a profitable business, and you can show your new distributors to do the same. Make your marketing tools available to them and train them, and they too will come into profit and stay with you for a long time. This is a sure strategy for building a stable residual income, and it has worked for hundreds of a new breed of network marketers.
What to do next
Start by researching solid MLM companies, and their compensation plan, using the criteria that we have discussed. This is the basis for everything you do, and you definitely don’t want to cut corners here. Another important point, find a company with a product that you can get excited about. Place an order, contact customer service a few times, check out their product and their business manners. You need to like them both.
For more details about how to build a stable MLM income by proper marketing, visit me at my blog.
Find a stable MLM company
Do you want your residual income to still be around a few years from now? If yes, find a stable company with a strong track record of growth and earnings, and with high standard of ethics toward their distributors. The hot new ground floor opportunity may not be around five years from now.
Find a company with a deep and wide compensation plan
For residual income, you want to be able to build a deep downline. The best compensation plan for residual income is one that gives you increasing commission on at least 5 levels. You also want to be able to build it as wide as you like to accommodate a large base of retail customers.
Start by building a stable base of retail customers
Why is that? Don’t we want to have residual income from distributors in our downline? So what good are those retail customers going to do us? The answer is: A whole lot. You want your downline to be stable and growing. However, the ugly reality is that 95% of new distributors drop out of business after 2 months, and this attrition is going to destroy your downline, if you ever succeed in building one.
You can stop attrition, and turn it into growth, if you can get into profit within 2 months of starting your business, and are able to teach your downline to do the same. You get into profit from day one by adding retail customers fast and furiously. Your commission on retail sales should be much higher than for distributor sales, around 20%.
Add retail customers by marketing your products
Don’t lead with your business opportunity, because chances are you don’t have on yet. Instead, learn how to market your product to the right target market. This is actually much easier than recruiting and keeping new distributors. Once you have acquired that skill, and developed marketing tools for your product, you are now in a great position to transition from retail to residual income.
Recruit distributors from your customer base, and teach them to market products
Once you are in profit and are building a customer base, begin to recruit distributors from your customers. Now you have the skill to run a profitable business, and you can show your new distributors to do the same. Make your marketing tools available to them and train them, and they too will come into profit and stay with you for a long time. This is a sure strategy for building a stable residual income, and it has worked for hundreds of a new breed of network marketers.
What to do next
Start by researching solid MLM companies, and their compensation plan, using the criteria that we have discussed. This is the basis for everything you do, and you definitely don’t want to cut corners here. Another important point, find a company with a product that you can get excited about. Place an order, contact customer service a few times, check out their product and their business manners. You need to like them both.
For more details about how to build a stable MLM income by proper marketing, visit me at my blog.
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