With the number of people who have ever been involved in network marketing, MLM (multi-level marketing) or direct sales, most of us are within a stone’s throw of somebody who has tried it or is currently involved and the future of these industries indicate that we will be even closer to somebody will try on this industry.
That shouldn’t be a thing that we need be weary about. This industry is just barely coming into a mature stage, where the experience of the pioneers of the industry are preparing the new up and comers with all of the experience they need to start with all of the benefit and blessing of today’s top investors, analysts, bankers and more.
The network marketing industry has created more independent millionaires from every walk of life than any other industry, not to mention many, many times that in people who are well into the six figures year after year.
So why does this industry have a bad reputation or tends to be a “lesser” business?
Among other things, the general challenge with the reputation and the “amiture” nature of network marketing comes in the very fact that these are amitures trying to start their business. People are generally very good and promoting; we promote all of the time - movies, books, food, wine, restaurants, vacations, airlines, and the list goes on and on and on and on. It is what we do.
So the natural ability in each of us is to talk about what we find to be good and great or terrible and poor. We learn of the products that network marketing companies have chosen to distribute through people (versus and retail or wholesale distribution). These products are good, legitimate, even very valuable in what they deliver and provide - there are no qualms about how valuable these products are (of course, there are exceptions to every rule, however those companies must face a competitive market place and can only last so long) and should not be knocked.
With good products and what should be considered and good commissioning plans (again, everybody has an opinion about which plan is better than the others) what is left is the actual people involved. With the natural talents of people to communicate, promote and thus recruit into the business, the industry typically have very little problem getting distributors to distribute the product . . . so what is the problem?
RETENTION - keeping people in the business, doing the business and supporting the success of the individual in the business.
The simplified experience of network marketing is that my best bud tells me about this amazing product that will change my life and provide me with such great changes in my life. I like what I hear and want to know more, so we talk to somebody who has been successful in this business and I am “sold” on what I want to have in my life.
I pay the fee and get my starter kit and my initial set of product. Then I am told to go and read online or the material set and to learn the compensation plan so I can go and do the same thing that was just done with me. If I can do that over and over again, I am good.
Okay . . . . I am ready . . . . okay . . . . I am wanting to get going . . . . . ummmm, what do I do again? How do I do that? Who should I start with? How do i say that?
I am quickly all alone, except for the periodic phone call to make sure I am still ordering product or trying to find people.
Three months passes, I evaluate my situation and think that either I am going to quit this so I don’t waste anymore money or maybe I like the product and I just continue to use that because I experience the value in the product . . . all in all I chalk it up to “experience” and end the business with a bad taste in month about really being able to make money in network marketing.
So, when my next buddy comes to me about a new opportunity he is looking into, he sees me chuckle like, “you will never make money doing that.” And like every promoter, I am good and passing on my experience (whether legitimate or not).
We typically find those who don’t succeed at network marketing (at least to their expectations of amount of money made or the actual work you have to put into it) are the most vocal. Probably not the people you want to listen to when considering an opportunity, at least not without finding somebody on the opposite spectrum to get another opinion.
We can only imagine how much more success the industry would have if part of the distributors ability, in addition to promoting, was retaining. To train, teach, education, assist those who are willing to put in the effort. To avoid the greed of success and help newcomers to get paid and to be a part of something - a community.
Retention is one of, if not the biggest pain point for every network marketing company. It’s ease of entry is such a strength to each companies success, but the ease of exiting becomes more of a focal point when companies get past their startup success and often find that they need a whole new field of leadership to develop people instead of the distribution of product.
When considering the opportunities to make some extra money in the network marketing/mlm/direct sales industry, consider the team you are joining and what they do and how they keep you engage and involved and successful in the business you are joining.
If you are searching for something new - contact me, I’d be happy to share with you some insights and strength I have seen and been involved in.