Multi level marketing (MLM) and network marketing companies promise big dreams and financial independence. Its entirely possible, as many people have created impressive fortunes by successfully building a go-getter downline. But success is ultimately up to you. Here are 5 MLM myths busted, so that you can improve your odds of winning in this business.
1. You are an employee.
Many people join network marketing companies with the mindset that theyre now an employee of the company. They believe theyve been sold an easy job. They begin skipping meetings, training very little, making only 20 prospecting calls before ending each workday.
But realize that youre a self-employed entrepreneur. Although youre not in business alone, this is still your business. Your upline and downline are partners in the business, not your co-workers. If you dont make things happen, they simply wont.
2. The company owes you a living.
Other people think, “You promised me dreams. I took your word and joined. Now deliver!” Well, network marketing companies dont owe you a dime. You owe it to yourself. Dont expect big results on small efforts. Work hard. Your financial freedom depends entirely on you.
3. The company will teach you everything you should know.
Reputable companies train partners regarding payment and business models. They also teach many aspects of prospecting. When applied properly, this knowledge helps. But if you want to excel, seek outside education.
Youd benefit from training on leadership, writing, prospecting, and self improvement. When you become the best person you can be, greater success will be within your grasp.
4. You trust the system to pay you.
Countless partners have faith in the payment systems that network marketing companies have established. They accept changes as if blindly following cult leaders. Theyre collectively afraid to question any waves in percentages and dollars that “big daddy” has adjusted.
When working a job, dont you double-check to make sure every dime is in every paycheck? Even if its $2 less, you want to know whats happening.
The same applies to business. Keep track of the money youve worked hard for. Every dime you earn is needed to gain the financial independence you seek.
5. The company will last forever.
Some people surrender their lives, confident that the compensation theyre bringing home will always be at their disposal. But honestly, you never know when a company will go out of business.
So, be prepared for set-backs. Keep separate contact lists outside of the system. This includes upline, downline, and prospects. Document training tips and marketing ideas.
Build your own name as your brand. Pursue alternative money-making tactics. Save money.
Now that youve learned to avoid 5 myths about network marketing companies, youve been exposed to what it takes to succeed.
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