In 2017 the network marketing industry set two full records:
- Total sales reached $189 billion.
- The number of people involved in the MLM business has grown to 116 million worldwide.
According to the 2018’ results, indicators decreased slightly, but the overall trend over the past 5 and even ten years remains upward and is continuously breaking its records.
Is the infographic needed?
Is MLM the future?
Referring to the forecasts of experts and organizations like the Direct Selling Association, market growth will continue in the coming years. There are many reasons why network marketing is becoming an increasingly interesting and attractive way to earn money and to build a dream career and create a life. The most significant of them are the possibilities of unlimited income and real work-life balance.
Work-life balance — is it reachable?
100 years ago, people worked 16 hours a day, and this was considered normal. Then we came to the already traditional 8-hour workday. In recent years we hear more and more about experiments with the 4-day workweek. Humanity is gradually realizing that it is much more mattering to work efficiently than to work a lot. Quality, in turn, depends on a person’s rest, satisfaction with their life, and communication with engaging personalities.
Therefore, so many people prefer the types of employment that allow you to independently adjust the number of working hours, the level of involvement, and even the work schedule. All this at once can provide by MLM business.
Are you a night owl or can not stand morning traffic jams? Work in evenings or even at night — the connectedness via the Internet can let you do business anytime and in any way, even with people on different continents.
According to a survey conducted by the Direct Selling Association, 59% of distributors start a business in the field of network marketing precisely because of the ease and flexibility of the lifestyle that this sphere offers. Moreover, 61% call this the main reason why they continue to work as an independent consultant and make efforts to build a career as an MLM leader.
Can Network Marketing Make You Rich?
Another feature of network marketing is that your income is not limited to any limit. How much you earn in the next quarter, month or even today depends on you.
Also, think about whether there is at least one other career ladder on which promotion depends only on you? Not from the boss, work experience, recommendations, but only from your efforts?
Network marketing gives particular freedom and career opportunities too. For many people, this becomes the main trigger. They are ready to invest in their growth from the first day in MLM. The more motivation, the higher the earnings of both the network marketer and the direct sales company. Everyone wins.
Therefore, one of the first secret components of success can be called a human resource. Alternatively, interested, motivated distributors who are ready to develop independently and develop the company.
If you are motivated enough, then the sky is the only limit. You could become wealthy as other millionaires already did. Network marketing can give you everything you need to grow and reach new horizons. So here, another question arises.
What is the fastest way to succeed in network marketing?
The entire network marketing industry is shrouded in a fleur of a negative reputation. Primarily because it is quite difficult for newcomers to distinguish financial pyramids from serious network marketing companies. Do you hear about Mary Kay, Tupperware or Amway? Do you think they are just pyramid schemes? Of course, no. But can you be as sure about other, less well-known, but no less profitable sales companies?
It is a topic for a separate article, so here we only note you have every chance to build a career in multi-level marketing. The only clause you have to choose the MLM company to join correctly, especially considering market saturation.
Because, ultimately, all compensation plans have their advantages and disadvantages. All products have their audience. It doesn’t matter, are you selling discovery toys, gourmet foods, or energy drink. These criteria are not defining.
So to the fore stands the quality of training information distributors receives from a mentor, especially at the beginning of a career. And so does the development skills, which also largely depends on the work strategy adopted by the company.
Therefore, the second component of success can be called the ongoing training of their partners: from newbie distributors to national leaders — everyone should get the right training.
What else the fastest growing MLM companies do?
The third and perhaps the most crucial element is the movement in step with the times.
Successful enterprises use modern knowledge and technology. For instance the latest developments from the field of psychology, and the most robust sales strategies, and technological developments, without which it is merely impossible to imagine the thriving business of tomorrow.
Compare: some distributors work in “person to person” style, like their predecessors 60 years ago, at the time of the inception of MLM and passive income idea, and hold 3-5 meetings a day. They, of course, have the opportunity to captivate a person in a conversation, see the response and change the strategy in time.
Let’s imagine that in the hands of such a person is a magic wand that allows him to hold 30 meetings a day. 300? Even 3000?
In 2019, technology still does not know how to return time, but it allows you to meet with a vast number of people from any country or continent in one day and do it systematically.
It is not enough to rely only on experience that has already accumulated before you. It’s not enough to listen to eminent coaches and even the most significant independent business leaders. A business that is proliferating develops when it finds one clear path.
Here specialized software for the multilevel marketing business comes into play, which allows you to combine technology and personal skills of each entrepreneur. Want to win in Formula 1, get off the scooter!
Here are the key benefits of using MLM software:
- An interactive database allows you to store contacts in one place, and cleverly manage: take notes, plan next meetings, monitor the depth of involvement of the prospects and team member. And get instant notifications if one of them takes a step forward!
- Built-in webinar marketing platform: only the most necessary functions, easy access for listeners from any country in the world, two-click registration. Even more. After completion of the webinar, the system will automatically send each participant an invitation to the project to become a customer or distributor. That means routine work is less for you.
- Quality coaching materials. It has become critically important since the key to success in MLM is creating new leaders and making them independent from you as fast as possible. No matter how many people in your bottom line, as a leader, you can be sure that each of them will receive the best possible training. You can directly send training materials to each of them (or to everyone at once). It means that your team will continuously grow and develop.
Skeptics will object that during a webinar, a speaker cannot always immediately see the audience’s reaction and respond to it appropriately. However, he still has the opportunity to subdue the avenues with his charisma and show a possible path to the paradise valley using his example and business opportunities. Sometimes it works better than any conviction.
The most important secret — use tools that competitors have not yet reached, use the maximum opportunities that the modern world offers and steadily try new methods.
You can try a new approach to running an MLM business here.