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Anybody Can Make a Fortune in MLM – The Myth or The Truth?

By Dr. Grazyna Pajunen

Network marketing is based on the principle in which the members are compensated not only for the business

volume that they personally sold or consumed, but also for the business volume that was generated by other people that they recruited.

In order to succeed one needs to develop sales, business, teaching and leadership skills. In order to build your business fast you should utilize a proven system of success that includes the application of the Internet. 7 tips for building a successful network marketing fast are listed below:

1. The first and the most important item is to determine your WHY. Why do you want to build this business? Where are you going to be in five years if you continue to do what you are doing now? Will you have a lifestyle of your dreams? Will you have enough time and money to do what you want to do?

2. How to know how to choose the right company?

There are thousands of network marketing companies that start-up each year, but less than 10% of these companies remain in business after one year. What does it mean for me and you? Well, maybe after very hard work for many months and achieving great success, the company will not longer be in business and will stop paying you the promised “residual income”. How can you avoid it?

2.1. The company that you choose should be financially stable

The company should be at least close to 2 years in business and preferably should be debt free.

2.2. Product should be consumable, unique and preferably patented that most people need and like.

This type of product will allow you to build a network of consumers and their reorder rate will be very high. This will allow you to build this business really fast.

2.3 Timing

There are four phases of growth of any business: formulation, concentration, momentum and stability. Richard Poe in his book entitled “Wave 3: The New Era in Network Marketing” wrote “…the phase with the most rapid growth is the momentum phase, which occurs after the company has exceeded $50 million in annual sales. This is the moment when exponential growth kicks in, when fortunes can be made… by these lucky few who got into the company before it went into momentum”. This means that companies that are well established, like Amway, are already in saturation and while one can still make money, it is difficult to make a significant income.

3. Compensation

Usually, it is difficult to understand the compensation plan for a new distributor. Start from deciding what you would like to earn per month and then create a plan to achieve it. Make sure, however, that the company is not promising to pay over 100%, because it will not stay in business too long. Actually very few companies can afford to pay more than 60% of their revenue.

4. Training

Training of new distributors is essential and it can be divided into 3 different parts:

4.1. Introducing your opportunity to your warm market locally and long distance. It is important to have a proven system that everybody is able to follow.

4.2. Working with a cold market. This is much more difficult, but it should be taught to distributors who already exhausted their warm market.

4.3. Internet Marketing strategies. This is the best and and at the same time most advanced strategy. It takes time to develop it, but it creates the most lucrative and stable business. The seven videos that show how to generate an endless new stream of distributors ready to join your business is available online, for a limited time only, for free.

Download your course while you can.

Dr. Grazyna Pajunen is an inventor, university professor, and a resercher in a field of EE. She is also a successful Real Estate investor and a Network Marketer. Recently she has implemented online network marketing principles to her businesses. The FREE course showing how to attract an endless stream of customers to your business is available, for a limited time only from MLM Success .. This article, Anybody Can Make a Fortune in MLM – The Myth or The Truth? is available for free reprint.

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Article Citation
MLA Style Citation:
Pajunen, Dr. G. "Anybody Can Make a Fortune in MLM – The Myth or The Truth?." Anybody Can Make a Fortune in MLM – The Myth or The Truth?. 10 Apr. 2013. uberarticles.com. 1 Aug 2014 <http://uberarticles.com/business/anybody-can-make-a-fortune-in-mlm-the-myth-or-the-truth/>.

APA Style Citation:
Pajunen, D (2013, April 10). Anybody Can Make a Fortune in MLM – The Myth or The Truth?. Retrieved August 1, 2014, from http://uberarticles.com/business/anybody-can-make-a-fortune-in-mlm-the-myth-or-the-truth/

Chicago Style Citation:
Pajunen, Dr. G. "Anybody Can Make a Fortune in MLM – The Myth or The Truth?" uberarticles.com. http://uberarticles.com/business/anybody-can-make-a-fortune-in-mlm-the-myth-or-the-truth/


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