When it comes to considering a small business opportunity, I get this question as often as any other: What do I think about multi-level marketing opportunities?
The multi-level or network marketing business model is one of the fastest growing in the world today. Literally millions of people (and a fairly large percentage of my clients) are either currently considering, involved with or have considered in the past a MLM opportunity. So, is it a legitimate business and how do I know if it's right for me? There are few business opportunities that are more controversial than a MLM. Many consider it a pyramid scheme, where only the folks at the highest levels really do well. Typically, there's a lot of truth to that idea. The vast majority of those in MLMs rarely make more than the cost of being in the business; their "business" is more aptly defined as a "hobby". Is this result because of the design of the MLM business model, or more likely due to the performance of the individual?
While it's certainly not for everyone (and not my personal choice), I believe that anyone wanting to be an entrepreneur should take a look at a MLM business. Some of the biggest Fortune 500 companies distribute their products through a network marketing system (Avon, Levi's, CitiBank, Sprint, etc). Why should someone consider an MLM? Here are a few reasons:
-
Companies provide essential sales, business-building and leadership skills training
-
Reputable MLMs teach the mind-set and courage to become an entrepreneur
-
You'll become familiar with the systems required to build a successful business
-
Entry fees are typically reasonable
-
Your support system is usually quite good
Be sure that if you do consider a reputable MLM or network marketing business, that it fits your skills, personality and passion. It will require your ability to influence others to not only buy your product/service, but to also join you in the business (recruiting your "downline"). You'll need purposeful determination to stay the course when the going gets tough, and you need to find new ways to break through barriers between you and success.
Sounds like skills every entrepreneur needs, huh?!
|