Multi Level Marketing Business

In 2008 I joined a business industry called Multi Level Marketing (MLM). MLM comes under different names such as Network Marketing, Relationship Marketing and direct Selling. Companies use MLM as a route to market rather than advertising on TV, radio and papers and magazines which can be expensive. Entrepreneurs who become involved in MLM become what is know as distributors to sell the products and services of the company they are then compensated for doing so. They also find and recruit other people who want to do the same and build a team they are then compensated for doing that too. 
By doing this the costs of the company are reduced as the cost of acquiring a customer is known because the distributors do not get paid until a sale has been made as opposed to advertising where the cost of a customer is not known until the sale has been made, therefore the spend that would normally be spent on marketing is shared between the distributors of the company
By building a team a distributor can build a residual income so whether they work or not they still get paid.
Unfortunately some people who join an MLM business believe it to be a get rich quick scheme and think that they will not have to put in effort to build their business, they then blame the business when they fail instead of their own laziness. It does take time effort and commitment to build an MLM business as it does any business and the rewards for those that do are great, more millionaires have been made from the MLM industry than any other.
MLM is a great way to build your wealth but to be truly wealthy do you need to have millions in the bank or would an income of £2 or £3,000 coming into your bank account every month just like when a writer gets paid a royalty for writing a book or singer for writing a song be okay?


Paul




PS. See more about my MLM business here

the Big Idea

I have had many ideas in the past for growing my wealth but I have come up with one in the last few weeks that I believe to be the best, It's a simple one and also one that can help many people and I believe that, that is the key to growing wealth, not just having great ideas but having ideas and ways that are valuable to others and help many people, Unfortunately I can't say what it is yet but I'm really excited about it.

This post though is about ides, helping others and giving great value for if we are to achieve the wealth that we desire then then reaching that goal lies in keeping an open mind for opportunities or niche in markets that you can seize and convert into money and that will help others get to whatever their goal is.


Reading great books is key, books that help you to develop personally and in business and reading the biographies of people you admire so that you model what they do, when you do that by adopting their attitudes and actions you can become successful.


The key with many ideas though is to keep going and if it fails at first take what you learn from it and change your approach, in NLP there is a presupposition that says 'There is no failure only feedback' this means that even if you have at first failed you've still had a result, you can then use that result to carry on and get the result you want. Edison had thousands of attempts at perfecting the lightbulb and at one point almost killing himself and a friend in an explosion but he carried on until he'd reached hiss goal.


So never give up on ideas that may help others and bring value as that is where success lies.