No doubt, Multi Level Marketing is rapidly spreading in Nigeria. From the days of GNLD to Forever and tens of others and still counting. Just listening to the testimonials of promoters in the various MLMs, be it for real or sponsored testimonies has made it even more enticing to give it a try.
The Hard Truth
Statistics has it that the percentage of those who succeed in MLM is just about 5%. Yes! Outrageous isn’t it? Mlm is not bad on its own but my experience have thought me that beyond the 100% commission, binary reward system, referral bonuses, etc, there is a need to understudy the company and your make-up. Yes, how you FIT into the companies plan before accepting to register.
First Things First
Why do you want to join the MLM world? For various people, there are various answers.
1. Money Making: For a large number of people, this choice of online business is for money making. Some even get in before they realize that it may not be as stress less as it was painted for them. So ask as much questions as you can before giving out your money.
2. Product Purchase: Some people just join an MLM because there is seemingly a discount on the company’s product.
3. Surveyers: This people I also call WINDOW SHOPPERS. This category of people just want to give it a trial or want to join for the purpose of finding information on how they can run the company down. Some may have joined because the upline seams interesting to work with, is a friend or a family member.
For which ever reason, bear in mind that ‘when the reason for a thing is not strong enough, getting weary of it is close’.
Some companies offer a wide range of products and opportunities for their members to gain from while some could narrow down to a few class of products. Obviously the MLM world is a JUNGLE if I may use that word and it has to be joined with your two eyes open. And no company can sell all ranges of product.
NOTE: There is no such thing as a perfect MLM
Some companies claim to be the best but a particular company favouring MR. A does not mean it will favour MR. B.
After all said… you may want to understand a few things about MLM before proceeding.
1. Make your reason for wanting to join very clear – whatever reason it may be.
2. Be sure of the quality of product(s) they offer. Some have got their fingers burnt by joining an MLM that offer sub-standard products. Trust me you don’t want to register with your hard earned money before you discover this.
3. This should have come earlier; ask if you can afford the sign-on fee and still be able to raise fund to run other things that may further arise like training material, petrol, purchase of company products, etc. I will further explain this later.
4. Compensation Plan: Some will demote you if you don’t reach a target within a period of time. Such targets could include but not limited to purchase of products at least monthly. This is the compulsory maintenance system were you would be required to increase your personal volume (PV) monthly. Others are either optional or no maintenance systems. Mind you, each has their advantages and disadvantages.
5. The Team: This days its not mandatory you join under the person who first introduced the company to you. Reason been that some up lines just want to recruit you for money making only. Meaning, once you join they will abandon you. This is no good up line. Search the company’s site and even the search engines you may get a better team to join under who will help you grow your business.
6. Be ready to Learn and Unlearn. Yes learn from those before you. Follow instructions.
To those who want quick money without working, forget MLM.
I have at least given you insight on the world of Multi Level Marketing. So… all the best in your journey as you venture into the Multi Level Marketing world.