What Is a MLM and Why Are Trump, Buffet and Klyosaki Involved?

What Is a MLM and Why Are Trump, Buffet and Klyosaki Involved?

What Is a MLM and Why Are Trump, Buffet and Klyosaki Involved?
By Cassie Findley

Have you ever wondered what an MLM was and why names like Warren Buffet, net worth $50 billion, Donald Trump worth $7 billion and Robert Klyosaki net worth $80 million are often mentioned in the same sentence with MLM? The truth of the matter is, each of these men advocates getting in a MLM now and finding personal financial success.

MLM stands for Multi Level Marketing. Other terms used in this industry are network marketers, direct sells and referral marketing. MLM companies are home businesses that represent a marketing strategy where the individual is paid directly through the sales they generate as well as the sales of their recruited team. The team is known as the downline of distributors. These distributors contribute to generated leads for customers and new distributors. The compensation plan is directly linked to efforts of each team member and is paid out in a hierarchy configuration. The comp plans use a number of different matrixes, matching and fast start bonuses, royalties, trips, cars and global pools as incentives to perform.

The primary sells strategy of the team is "word of mouth" through warm market leads. A warm market includes friends, family, and circle of influence. In the past, prior to suffocated technology, this was a successful strategy. The negative side to this strategy is that it is only a matter of time before all of these leads are exhausted and you are left struggling to grow your business without new leads. Another negative to getting friends and family involved is if the business venture fails. You not only lose your investment of time and money, you may lose the trust and relationship of your friends and family members. Unfortunately, the one they will blame is the one who brought them into the business.

Cold leads are a second MLM strategy. A cold lead is prospected through cold calling from the phone book, making presentations to strangers at Starbucks, local mall or bookstore using the "3 foot rule" (talk to anyone who comes within three feet of you), purchasing list from vendors or using flyers and mailers. Yes, this could be a way to meet people and play the numbers game. However, statistically less than 3% will join your group. Emotionally, this is a huge downside. Dealing with an enormous amount of rejection over time will become unbearable. This alone could be why 97% of network marketers eventually fail.

Most MLM companies have a "proven sells plan" and a product or service to offer the public. Most companies have designed scripts for calling, collecting leads and selling the product or service. If there is training provided it is usually in the form of motivation and cheerleading sessions to keep you pumped up to overcome the rejection.

Thank goodness, times have changed. The products and services and network marketing opportunities are still in high demand so that has NOT changed. However, with the integration of technology, consistent step by step training is available on your schedule. Quality leads in search of MLM opportunities can be found, in fact with technology leads can be generated to individuals 24-7, 365 days a year to not just the US but, markets all over the world. Technology can streamline your efforts and maximize your return. FREE training videos are available to get you started. The most important first step is to align yourself with leadership and with a team that will maximize your ROI without hassling your friends and family and experiencing rejection 97% of the time.

Here's to Financial Freedom

Cassie Findley is a network marketer and on faculty in the Entrepreneur Department of a major university. In the current economy entrepreneurs need to step up and create financial freedom mirroring the leadership of Trump, Buffet and Klyosaki. Technology is king and provides methods to reach hundreds of thousands of fresh targeted prospects for your business. Click on http://www.MLMFormula.com for FREE training to effortlessly generate hundreds of prospects automatically. Replace your income in 90 days or less.

Article Source: http://EzineArticles.com/?expert=Cassie_Findley


"The richest people in the world build networks, everybody else looks for work" ~Robert Kiyosaki

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