Can You Really Make Money with MLM?
How to Make Legitimate Money with MLM and Network Marketing
This is a legitimate question that many people want to know. And the answer is most definitely yes. In fact, MLM (which stands for multi-level marketing) is one of the best business models for the average person to earn a significant income.
Not only can you really make money with MLM opportunities, but you can also make a lot of money. MLM business opportunities are one of the easiest ways for the average person to become a millionaire if they desire.
That doesn’t mean it is easy, but it is possible. It takes hard work, a deep hunger for success and a tireless drive to keep going.
How MLM Companies Make Money
MLM companies often exist due to a passion project, product or interest. Their products are usually highly specialized and exceptionally beneficially, performing often better than traditionally marketed products.
But MLM companies need to do more than share their amazing products, they also need and want to make a profit. Whereas a traditional business is structured corporately, hiring employees to sell, service and market their goods, MLM companies are structured to make money when their partners, associates, ambassadors, affiliates, distributors or promoters sell their products for them while earning a commission.
Rather than reinvesting their profits in advertising to increase profits, they spend their advertising budget on their multi-tiered sales force. This allows the company to multiply through word of mouth (network) marketing.
That’s how network marketing companies make money. And though MLM and network marketing companies often get called scams, they are 100% legitimate and legal.
You may be wondering: what is the difference between an MLM and a network marketing company? And the answer is simple. They are the same. You can learn more about the history of MLM and network marketing here.
How to Make Money in Network Marketing
When you sign up with an MLM, you usually have a strong team of committed people to help you succeed. This upline can provide you with the pay structure of your company. Each company is structured slightly different. But an MLM ordinarily consists of different types of payouts on multiple levels.
There are three basic types of commission structures in an MLM marketing plan, and each has its benefits.
- Unilevel
- Binary
- Breakaway
But all of these commission structures have one thing in common: you don’t just get paid for what you sell, you get paid for what those under you sell. Network marketing is not only about selling products, but it is also about building teams.
That’s how to earn money in network marketing. If you want to earn money MLM business opportunity is everywhere.
What Is The Best Way to Market Your MLM?
There are several ways to get your MLM going full force fast. And one of the best ways is in group settings, often called party plans.
With a party plan, you have the opportunity to speak to multiple people at one time. This plan helps you build your business faster than talking to people one on one. And it will increase your earning potential exponentially.
How Can You Make Money in Network Marketing?
If you are looking to make money in network marketing, your best course for success is to hire a coach or consulting firm to guide you. Nothing can move you forward in your business faster than learning from someone who has gone before you. The number one thing you want in a coach or consulting firm is an experienced person in the industry. They should have people on staff who have had success in the network marketing field. You can find great mentors at the Sheffield Group.