With so many people losing their jobs over the last few years, there has been a huge surge in multi-level marketing. The problem is that so many new people are in it, and also changing from one marketing company to another that buyers don’t want to buy.
We know the most common thing to do is ask family and friends to buy your product when you are new with a company, but by default, those people know they are a target, so it gives some multi-level marketing a bad wrap.
There are so many people that get into it and lose a lot of money as well, and that’s not really the point is it? I have worked with many extremely success people in the field over the years, and here is the reason why:
First and foremost, you must love the product.
If you don’t love it, how can you sell it authentically?
Use the product!
If you love it, then you should be using it, not just to sell it but because it works and you get results. As you naturally get results from the product you are selling you will be able to share your story, even if it’s with family and friends to begin with.
Be with a company that fits into your lifestyle.
I work with a lot of Herbalife clients. Many of them are trainers and they are all fit.
They use the products, get results, and are able to explain to their clients just how each product works and why it’s good for that individual.
Have another source of income while you build your team and clients.
This is not always possible if you have lost your main source of income, but if you find yourself in a job you no longer enjoy, then keep that job until your new venture pays off. You don’t want to be in a situation in which you are needing the money and lose sight of the product and your client’s best interest.
Make sure your team shares your vision for growth and your work ethic.
If you do try to build your marketing team, make sure that the people underneath you share your vision. How can you build a team that is not on the same page? A team is only as great as its weakest link.
It’s about the profit, not the write off.
Why would you want to get into something for a tax write off? I am all about savings the most amount of tax possible, but at the end of the day, we are doing this for our income and to pay our bills, so don’t go for marketing that requires a huge upfront investment or a lot of inventory.
I have seen a lot of clients over the years lose a lot of money that way, and we all know that’s not the point.
You may be a salesman but you need to be in control of your money too.
If this is your first time to own a business, you need to set your taxes aside! When clients go from W2 to owning a business, they forget that no one is holding taxes out for them, and they frequently get to the end of the year, and owe a large dollar amount to Uncle Sam that they can’t afford to pay.
Your savings is up to you.
Just like no one is taking taxes out of your check, you are responsible for your own savings. Remember to set aside tax money of 20-30% each month, depending on your income bracket, and then at least 10% of not more for savings!
It’s all up to you know, so make it happen!