At some point you’ve probably stumbled across the term, Multi-level marketing (or MLM). This is a business strategy where people have the opportunity to sell a product on behalf of a business, usually for a commission.
Amway and Mary Kay are two famous examples.
MLMs have become a popular option for people who are keen to bust out of the daily 9 to 5 grind. The appeal is fairly self-explanatory!
Working on your own time, being your own boss and embracing the challenge of trying your hand at being a self-starter are all compelling goals for many who are fed up with the daily routine.
But does it work?
While there’s no single, comprehensive answer to this question, let’s take a look at the main questions to examine in arriving at an answer that’ll work for you.
You might also like to check out this MLM review site. It’s a great resource for making sensible decisions about MLM marketing and whether it’s right for you.
Will You Make Money Doing It?
Let’s start with the big, obvious question. Can you actually make money doing it?
An important point to make right off the get go is that every MLM is different.
They will all offer different rates of commission, different perks and rewards—and, of course, different traps for the unwary. Some have also crossed the line into pyramid scheme territory.
In other words, there’s no short answer. You can make money through a MLM. People do all the time and some make a substantial income.
But it never fell in anyone’s pocket. Making a MLM business viable will require work, and tons of it! It will also require risk, and probably a pretty decent dollop of sales talent too.
Take A Close Look At The Payment Model
The key here is to run a magnifying glass over the payment model of whatever MLMs you’re looking at.
Now, the websites are going to try to bamboozle and excite you. You’ll get shunted into sales funnels where a breathlessly enthusiastic writer will tell you how they make $5,000 a month and love their life.
Don’t get sucked in. Look at those figures and do some careful analysis on how long it’ll take you to run a real profit. Here’s some boring, sensible questions to get you started.
- What’s your opening outlay?
- After you dissect the marketing hype, how much will you actually make?
- How many hours will you need to invest to make it happen?
- Will you get training? How good is it?
- Will you get marketing materials?
Be relentless in getting those answers. You’ll need to build a successful strategy for transitioning into a MLM business.
So, here’s the best generic answer I can give: You can trade in the 9 to 5 to make money through MLM work, but go in with a sensible frame of mind! You may not be punching in and punching out every day, but you’ll still be working seriously hard.
Will It Make You Happy?
You may have a plan for making money, but will it make you happy?
OK, this is a feely touchy question. But it’s probably worth asking if you’re planning a major career change! Here are a few issues to ponder before you decide to take the plunge.
It’ll Require Unusual Hours
It sounds awesome to be rid of regular working hours, but unfortunately most of the world is set up so that your potential customers are pretty much unavailable throughout the day, Monday to Friday.
This means your prime time to do business is going to be evenings and the weekend. For some, this is no big deal. For others it can be a serious dampener to your social life.
It May Mean You Need To Think Differently About Your Social Circle
When you start out, you’re going to be encouraged to think of your immediate social and family circle as the easiest way to build a customer base.
Depending on what you’re selling, you may find yourself having to do awkward things like having your friends come over for a product party.
Are you OK looking for sales opportunities with friends? Do you have enough social networks to build that all important momentum? Again, the answer may well be yes, but it’s important to think about.
You’ll Need To Believe In The Product
Turning a MLM profit requires passion. And it’s hard to be passionate about a product which bores you or which, in your heart of hearts, you feel isn’t all that great.
So take the time to decide whether you actually care about whatever it is that the MLM is selling.
If you aren’t comfortable unashamedly enthusing about how great it is, sooner or later that reluctance will slow you down.
If you don’t believe in the product, you’re unlikely to be able to make MLM marketing work.
It Requires A Certain Personality
By now, this point is probably self-evident.
Successfully transitioning to MLM marketing work requires a certain combination of traits.
You’ll likely need to be a huge extrovert, completely energized by the idea of putting yourself out there every time a new opportunity presents itself.
You’ll probably also need to be cool with taking a few risks, and take it on the chin if you make a few mistakes along the way.
So, back to the original question
Are MLMs a good way to kill your regular 9 to 5 work routine?
You probably won’t fall of your chair when I say there’s no simple answer.
It’s going to depend as much on you, your personality and your talents, as the quality of the MLM business you set your sights on.
One thing is for sure though. It’ll only work if you do your research and go in with your eyes wide open. Again, if you’re looking for good source of quality information, check out this MLM review site.
Good luck out there!