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MLM Myths Debunked: Separating Fact from Fiction
MLM marketing is a business model that gained popularity in recent years. It has become a booming industry, but like every other industry, controversies have reached here. MLM business is one of the highly controversial business models in today’s era.
Many see MLM business as an opportunity to reach high earnings. But as more and more people are recognizing and becoming a part of this business, we must separate facts from fiction about MLM to give a clear picture of what this is exactly about.
Myths About MLM Business
Let’s unlearn some common myths about MLM business and replace those with what stands true.
Myth #1: MLM Uses People
There’s one common complaint about MLM business is that it uses people. By using it means the company’s part of strategy is to make its existing people encouraged to get their known people on board and work together.
Now the truth is that no company in the niche has a reward strategy for people who bring their family and friends into the business. It’s collective efforts and helping others reach their goals along with yours is what brings success. There’s no way you can earn from the hard work of other people.
Myth #2: MLM Can Saturate One Day
Another misconception regarding MLM business is that it will eventually become overly crowded. Saturation doesn’t exist because there will always be an endless number of people. Every day, new human beings are born. Some people reach their 18th birthday each year. This implies that additional potential end users and marketers will join the industry as it continues to grow.
In his book Network Marketing for Dummies, Zig Ziglar denies the saturation myth and says that a refrigerator is a necessity for everyone. Despite the fact that most homes already own one, producers continue to produce and market more of them.
Myth #3: MLM Business Model Don’t Work
That is untrue. The Direct Selling Association (2015) reported that retail sales in the direct sales sector reached US$36 billion in the US alone. The global numbers can be even more amazing. In addition, about 20 million marketers in the US work in direct sales. Since direct sales includes network marketing, these figures testify to the effectiveness of MLM.
However, your dedication will determine whether you succeed or fail. There are several bloggers, eBayers, Amazon Affiliates, and e-commerce internet retailers. However, not everyone succeeds in their line of employment, and individuals aren’t complaining about how their companies are failing.
Myth #4: MLM Will Never Make You Rich
To put it this way, there’s no guarantee that you will succeed in a business that’s other than MLM. Likewise, yes there’s no guarantee that MLM can make you rich. This misconception comes from various multimedia channels and other false claims making rounds as to how people working in the MLM business are earning loads and others aren’t even able to make ends meet.
The reality is entirely different from what it’s being portrayed. Only if you get into the swimming pool can you learn how to swim. The same goes for MLM business. Get into it and see how it works.
Myth #5: All You Need To Be Is a Salesy
This is something that comes attached with MLM people. People working there are total extroverts and desperate to sell. That’s now how it works, again. To be a successful entity in the MLM business, you should be a solution finder and solution provider. No level of sales technique can make a buyer buy a thing they don’t want.
It’s about understanding what people want and moving ahead with the same technique. You should be good at listening and not pushy.
Myth #6: Only the Person on the Top Earns Good
There is a misconception among people that those in positions of power are the ones that profit greatly, and the same applies to MLM marketplace. Well, it’s important to note that it’s the case like everywhere else and there’s no denying it. Although many people may put in more hardwork than their CEO, you cannot earn more money than your company’s CEO, right? That’s how the hierarchy works.
When it comes to network marketing, though, that is not totally true. You are rewarded for your efforts when you engage in network marketing. Accordingly, your income will increase as you put in more effort, possibly to the point where you start earning good.
Now when the facts have been separated from myths about the MLM business, what do you think about it? Like any other business, it comes with great potential too. You have to recognize and understand how you can make the most out of it. Dedication, efforts, hard work, perseverance, and the right strategy and planning are the key to success in any MLM business.
