Mlm and this economy

Discussion in 'Network/Multi-level Marketing' started by BHP, Sep 21, 2009.

  1. BHP

    BHP New Member

    Is anyone still trying mlm with this economy? Are people lining up to join? Can you somehow get people to join (without telling them they will be instantly wealthy?)
     
  2. getagrip

    getagrip Gold Member

    I think the only way to earn good money from a MLM program is to find one with a quality product with name brand recognition - not some obscure product no one has heard about...
     
  3. BobFirestone

    BobFirestone New Member

    BHP: Can you somehow get people to join (without telling them they will be instantly wealthy?)
    The only way to get people to join is to be honest that they won't become instantly wealthy. When your prospect understands that they are going to have to do some work they are more likely to actually do some work. It is amazing what happens when people understand what is expected of them to get results.

    I agree with getagrip that the company has to have a good product. What is a good product is the million dollar question. Here is how I evaluate a product.
    1. Is the problem it solves real? There are lots of companies trying to solve insignificant problems.
    2. Does the product actually solve the problem? If it doesn't do the job that is a immediate deal breaker.
    3. Is it priced competitively to other solutions? The big problem I have with most MLM's is the product is priced too high making retail sales impossible.
    4. Do people really want it? There are companies that do 1, 2 & 3 but people just don't get excited about what the company offers. Does it emotionally excite or is is intellectual?
     
  4. mountainmom5

    mountainmom5 Gold Member

    BobFirestone: The only way to get people to join is to be honest that they won't become instantly wealthy. When your prospect understands that they are going to have to do some work they are more likely to actually do some work. It is amazing what happens when people understand what is expected of them to get results.
    amen - that is great advice.[​IMG]
     
  5. 247MoneyMentor

    247MoneyMentor New Member

    This is the reason why people are so skeptical about this industry in the first place. Because some marketers are not truthful at signup and sign up many who are heading to fail because they had no idea they needed to do some work.

    The recession has not affected people joining opportunities. In fact it's been the opposite. As many have found themselves with their back against the walls and forced to look where they have never looked before. Which in turn has made these individuals determined to succeed and therefore not afraid of a little work which can bring fantastic rewards.

    Tips - finding the right mentor with the right business with a business that has live and recording training programmes can increase your chances of success!
     
  6. Cnune123

    Cnune123 New Member

    network/direct marketing is growing right now becuase of the economy. It is still a great business model you find the right company, products and comp plan.

    *binary only - no levels (payout should be fair to all regardless of levels
    *should be able to see all the details of any comp plan on their website otherwise they are hiding something
    *patented products make them unique and know one else has them
    *wellness is still fastest growing and has the power of the aging boomers and the strength of the Gen x & Gen Y.
    *stay away from shopping portals becuase thew are not able to be sustained long term and require too much recruiting of new people all the time.

    I have been working a business for over 6 years and have enjoyed every minute.
     
  7. FreeCashMan

    FreeCashMan Well-Known Member

    Network marketing is thriving, that's not the problem people have with growing their part of their respective mlm.

    Most people, I don't think, buy the get rich instantly thing anyhow. But they do look to confirm that the opportunity is viable and a potential money maker.

    If you are having challenges in growing your mlm, I think you will find that one of the things hindering this, is the marketing strategy and game plan being used to build the business, along with the patience to see it through.

    Too many people joining the premier home business success mechanism - network marketing, get so caught up in the product, and then the compensation plan that they fail because they didn't inquire about the marketing plan and its viability for them and others to be successful in the business.

    A lot of people will come here talking stuff about how you must have a great product, and you must have a phenomenal compensation plan. But it's all inaccurate.

    You only need a decent respectable product and compensation plan. But you MUST have an effective marketing plan or strategy for being successful in the business. The closer the marketing plan is to an "anyone can do this" the greater the chance of more being successful, than failing in the business, if the person sticks to the marketing plan.

    For those that would attempt to argue this. I simple point to the fact that McDonalds doesn't have the best food in the fast food business, but they top the chart in terms of the number of outlets compared to others, thus their marketing plan allowed them to be a mammoth success, while others with better food struggle to become known in every town, city, state in the land.

    Lastly stop looking for online marketing to be your bread and butter to building your business. Get into some offline marketing to bring people online.
     
  8. BobFirestone

    BobFirestone New Member

    FreeCashMan: You only need a decent respectable product and compensation plan. But you MUST have an effective marketing plan or strategy for being successful in the business.
    So true. You can have the best product in the world, the best comp plan and none of it matters until you sell product or recruit.

    Secret agents don't make any money in MLM.
     
  9. RICH4NURICHE

    RICH4NURICHE New Member

    BHP: Is anyone still trying mlm with this economy? Are people lining up to join? Can you somehow get people to join (without telling them they will be instantly wealthy?)
    THE IDEA IS NOT TO GET THEM TO JOIN BUT TO GET THEM TO SEE AN OPPORTUNITY TO BENEFIT FROM WHAT YOU ARE OFFERING. REGARDLESS TO WHATEVER BUSINESS YOUR IN, YOU MUST KNOW YOUR PRODUCT OR SERVICE, SEE THAT YOU UNDERSTAND AND ACCEPT THE COMPENSATION, KNOW YOUR MARKET, LEARN AND PRACTICE SALES AND MARKETING AND BE ABLE TO TRAIN OTHERS WHO YOU SEE FIT TO INCLUDE IN YOUR ORGANISATION TO BUILD.
     
  10. ImportEyedea

    ImportEyedea New Member

    Oddly enough, from my experience, I'm beginning to see this economy is opportune for network marketers for a number of reasons. And believe it or not Honesty is one of them!

    1.People are watching the "normal" structure fall apart. This economic loss of faith causes more open mindedness to a new business model, as per the traditional MLM.

    2.They're Interested In Taking Control Watching corporate fat cats misbalance checkbooks and turn the Economy inside out created a lot of rage and mistrust that many people are channeling into a renewed sense of empowerment. They want to take their financial situation and future into their own hands.

    3.Network means communication Which is something most people by nature crave. A system or network built upon frequent contact and support are inviting to those who feel shut out by Corporate layoffs.

    4.Believe it or not Honesty While the ridiculous claims of 6 figure incomes may've attracted people back in the early 00's, odds are the disillusionment caused by Billion dollar bailouts has left a bad taste in most people's mouths. These days an honest approach about steadily building a modest income works the best. People are really tired of being bs'd. [​IMG]
     
  11. residualcash

    residualcash New Member

    People are still pursing network marketing business opportunities to make extra income so have no fear, just market and market to succeed.

    Diversifying into trading the stock markets is a good ideal also. It doesn't necessarily take a lot of money and certainly doesn't require recruiting and other aspects of network marketing.
     
  12. talfighel

    talfighel Silver Member

    With a bad economy or good, people will always get into MLM sooner or later.

    This business is going to dominate all types of businesses in the world and I think it already does.

    If you find one good company online or offline and a good mentor, just take action and never quit. You really have to have a positive attitude everyday and take action.

    if you do all of that, you will do well in this business.

    Ignore all the people who have tried it and failed. Actually, let me re-phrase that. People don't fail in this business. They quit.

    Failing and quitting a 2 different things.

    Tal
     

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