December 12, 2012
By: Patrick S. Tulloch - BTBF
What Is The Unknown Factor In Building A Successful MLM Business?
After years of involvement in the Network Marketing industry, I have heard many reasons why individuals seeking financial independence, ultimately made their decision based on some of the following criteria: compensation plan, product, service, mentorship, a friend, simply because you like, whatever the offer might be, even if there was no real trend for the product or service.
I remember sitting at my first ever Network Marketing meeting many years ago, in my early twenties, not knowing what I was actually there to see, but knew I was invited to see a business opportunity. At the end of the meeting I was curious and excited about seeing all those circles, which represented money in my pocket. I continued to see these circles as I slept and before long I was in business for myself. I must admit I was very green, but enthusiastic and building my business on adrenalin. I was having fun, but did I make the right decision? Did I get into the business for the right reasons? I will provide a clearer picture to these and other questions that reveal themselves.
How do we put it all together? If you were looking for a good dentist, what would your process look like. If you care about the end result, you might talk to a friend, who might refer you to someone or you might jump on the computer and do a search for one in your area, then once you have decided on one, you then need to do your research. You might ask some questions, such as how long has the practice been in business? You might want to talk to some current patients and hear what they have to say. My point here is that too many people get involved in a company without asking the right questions and then are sadly disappointed.
This brings me to the point of mentorship in your business. In many companies the compensation plan has a significant effect on the amount of mentorship available. You may be out of the pay line of your upline mentorship, which is not a major incentive for receiving the advise you should expect. When gettig involved in the industry or you may have already done so, take it serious as if you were buying a car, house or even planning an exotic vacation. There are good and bad in everything and mentors are no different. Take a look at their track record, how many companies have they been with in the past few years? Are they readily available to work with you, which is a very good sign, that the only way that they generate an income, is when they help you succeed.
Experience in this industry may require you to have worked in one or two businesses before you find the right company that truly resonates with you. I believe that one needs to work on themselves harder than anything else and determine what you really want from the industry. A few dollars a month to thousands. Yes it is possible to live your dreams in an industry that is quite misundrstood.
All the best,
Patrick S. Tulloch - BTBF