Multi-level marketing, or MLM, felt as a controversial domain for many individuals who’ve run into these opportunities throughout the years. Some feared it because of scams like pyramid industries, who only made their money out of recruiting people, without actually selling any real products. For others, starting an MLM business online was a temptation.
Since you’re here, we’re guessing the second one might be your case as well. Probably, you don’t know if the benefits of multi-level marketing are enough to beat the cons. By the end of this article, you’ll be able to balance them out yourself.
What is Multi-Level Marketing?
Companies operating on a multi-level marketing system are those who base their selling activity on collaborating with individuals, called brand partners. These people create their own small businesses and act like some sort of distributors.
As a brand partner, you’ll be making money by selling the products of that company you’re collaborating with. You can do that online or by approaching people face to face. Your earnings will come out of commissions from those sales. In case you manage to recruit new members, you’ll get a small percentage out of their sales too.
The Good Parts about Multi-Level Marketing
One of the ideas, which attract people to network marketing the most, is the possibility of opening that MLM business online. That allows you to work remotely, from home, in an office located anywhere in the world, or even make money while on holiday.
Another factor on the list of multi-level marketing pros is schedule flexibility. Regular jobs, whether they keep you in an office 9 to 5 or during any other times, have their hours fixed and decided upon by a boss. What if you have an emergency, want to spend more time with your kids or you’re simply more productive in the evening? MLM can help with that.
Furthermore, most companies you’ll be able to join as a brand partner will offer their full support for your development. They get you in touch with a mentor who can give his or her insights about this field of activity, and you’ll learn from their experience. Trainings will be done regularly and you’ll have the opportunity to grow a proper business.
One company which takes good care of getting its brand partners ready for selling is Neora, activating in the beauty industry. They will fully equip you with all imaginable knowledge, you just have to be willing to learn. Marketing materials, including brochures about their anti-aging products, will be in your starter package. Also, they provide 24/7 access to loads of online videos and tutorials.
Compared to other types of business, home-based or otherwise, network marketing is fairly affordable to begin with. Costs usually concern training materials and a standard package filled with your collaborator’s products. If working online, you’ll probably need some money for advertising. You can learn that by yourself or, if collaborating with Neora, they will help you set up a website and provide you with a few useful apps and social media tools.
The Downsides of Multi-Level Marketing
As with any other career choice, multi-level marketing has its cons too. First of all, it is difficult to do that initial research, when you’re supposed to pick a company, whose products you’ll be selling. The industry is filled with scams and it’s hard not to fall into traps sometimes, out of honest enthusiasm.
Our advice on keeping yourself safe? Check out a high number of reviews, not just for the business itself, but for its products too, just to make sure they exist. See how long the company has been on the market, its credibility and reputation amongst clients. Our earlier example, Neora, has been active since its foundation in 2011. It started in Texas, but its amazing age-defying creams have brought it an international success.
Another disadvantage of network marketing is that some of your suppliers will ask you to order regular shipments, regardless of your number of clients. You might not need those products, but you’ll buy them anyways. The helpful Neora doesn’t ask you to take care of physical distribution. You sell their products online, and they deal with deliveries.
The profit you make out of this small business might not be enough of a stable income for your family. Money in your account will be proportional to your effort and the success of your sales attempts. At first, you’ll probably have to keep that full-time job too. Patience is a must, as it can take up to five years for this financial and time investment to turn into what you’ve dreamt it could be.
Our Conclusion on Multi-Level Marketing
Now, do you feel ready for the network marketing game? It involves a lot of fun features, such as being your own boss, having a flexible schedule and a potential office on the beach. You’ll get to meet new people and learn from the best. It can get challenging sometimes when it comes to patience and on a financial level, but the prize for getting through them is out there and it can be yours.