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Archive for January 31st, 2010

Multi-level marketing – or MLM, as it is commonly called – and network marketing are two of the fastest growing types of business in the world today. They are swiftly gaining in popularity because they allow the business owner to be in control of their income and offer an unmatched potential for financial freedom. There are some very real problems with these ventures for some people, and there is no guarantee of success for everybody. Before taking the plunge and investing in an MLM venture, you should be aware of the following 7 real problems with network marketing an MLM.

1 – It costs money to make money. Almost every network marketing opportunity requires some sort of upfront investment to get you started. Whether it is a membership fee or the cost of purchasing a demonstration kit, you need to lay out some cash before you have any hope of making cash. For some people this alone is a deal breaker.

2 – The rejection factor. If you are going to succeed in network marketing, you have to be prepared to hear the word “no” a lot. There will be many more people in the world that will not want to hear your presentation, who will not want to host a party, who will not want to come to a meeting than there are that will.

3 – Friends and family. For most people, the logical first audience is friends and family. Unfortunately for your friends and family this is something of a burden and it can strain your relationships with them. Try to look outside your normal social circle before you overtax those relationships.

4 – The people problem. The key to success in any MLM venture is building a good, solid downline of reps that you sponsor to start their own businesses rolling up under you. Your income depends upon keeping your reps motivated.

5 – Schemes, scams and other bad guys. There are a ton of really great, absolutely legitimate opportunities out there and just as many scams that will never make you any money. They often look the same.

6 – The stigma attached to MLM. Make no bones about it, the bad apples out there have cast a murky stain across the network marketing industry on the whole for many people. One of the biggest hurdles you will face is overcome people’s initial prejudice against it.

7 – There is never a top. This is both good and bad. Your potential is unlimited, but you have to keep working and building your dynasty. If you stop growing it, it will shrink.

Final note, if you are looking for an  alternative to MLM visit MLMnotForMe and see if that business model fits your critia .