My Small Business Experience With MLM
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HEY, I’m Ammar,
Like a lot of other people, I was introduced to this stuff in my university days and I’m studying Chartered Accountancy. Though established since 2003, “Goldmine International” A network marketing company, is expanding very quickly with many interested people
So firstly a little about the company: It deals in gold products or at least it says so. To become a marketing agent one has to subscribe in, paying a 60$ fee. Now that guy has to manage a tree below him, i.e. for every 3 persons on his left and right he gets a 30$ commission.
A lot of critics were and ARE heard about these businesses, and I being in the field of finance, too, dug up a lot of info. Now this company claimed itself to be owned by a single member, and was stationed in Norway.
For us it had absolutely no source of verifying its transparency. But Again company was also registered to a local companies’ regulation commission, which was more than a guarantee of its existence.
However at the end of the day, it was the peer pressure, and the shine of making ‘extra ordinary’ that compelled me to join this.
To be very honest my first opinion is that EASY MONEY is RARE, especially in this area. So how can one actually benefit from an MLM scheme? Well a very basic rule that I believe is that when one subscribes in, he/she should make sure it’s NOT THE THING that everybody’s doing.
You see that may increase its credibility and reliance, but concurrently reduces your chance to secure the prospect under your ...let’s say... TREE ..In my case, the bloke who first introduced this concept in our campus probably scored a lot more than to pay off for his entire course since a most of us were under his chain.
And I well…unfortunately wasn’t part of the upper hierarchy. So it was really hard to score within my campus later on.
Secondly the easiest target audience may be your peers, but its all that your ability to communicate and create a conversation where the target is assured that "THE EXTRAORDINARY" IS POSSIBLE!
Another important point to remember is that first steps towards the ladder are always the hardest ones. Once you’ve secured a few prospects you can easily make yourself the successful example and inspire others.
So in a gist: make sure you bring the business in a new place, being an introductory person, Be a people’s person and don’t be disappointed by initial failures and you can enjoy that ‘rare’ opportunity. Wishing you every success without whatever MLM you decide to follow, nothing ventured….nothing gained!