What You Should Know: MLM Mistakes to Never Make
Aside from the selection of MLM Companies, your knowledge also plays the important role in creating the successful business. Now, it’s your turn to be familiar with the common MLM mistakes to never make to ensure you will be able to run the business based on your expectation and plan.
1. Do not overdo the potential income
Overestimating earning potential leads people to overstate. It is true, many millionaires are born by MLM business. The fact is less than 10 percent of distributors who are the full-time business. The majority of people run MLM as a sideline business. So, the income expectations of the MLM business should be made as realistic as possible that the amount is not much different from the work income. The assumption is that this income is used in addition to a fixed work income. Facts on the ground, many distributors who initially exaggerated hoping to make big money, then briefly disappointed and run away from MLM.
2. Do not just rely on the system
Recruitment activities tend to be stacked on the compensation system (marketing plan) which is considered the most superior and guarantee success. The historic fact explicitly states that no single MLM company is successful by simply relying on a compensation system. Of course, having a compensation system that provides the attractive incentives is necessary. Well, the ‘overly seductive’ compensation system is often a ‘patch’ for less good products and poor management. Such systems usually do not perpetuate the business continuity of the company or its distributors. So, the main requirement remains quality products, strong management, and a shared vision that can be good. So, MLM actors should pay more attention to these elements rather than concentrate on the magic of the system.
3. Think MLM is a money machine
Often we hear a business plan that is recognized as a money machine. The prospect is indoctrinated, “You do not need to sell anything. Simply create a list of prospects and money will come alone to your account! “MLM is not a cash machine and not a recruiting machine. MLM is a serious business. Successful distributors must master the product, get to know the customer, know the company’s vision, and ready to work hard to achieve the goal.