Multi-Level Marketing is another interesting field that can create significant wealth to a lot of people. The services have been diverted from the classic insurance business to consumer goods, cosmetics, nutrition and many others. Since the concept of the business is to utilize the leverage from the people recruited to be in the same team, the financial result of a successful entrepreneur can be more than you can imagine. There are however many disasters in the stories about this business. This article is going to reveal the top ten mistakes that happen to some of MLM business proprietors. These mistakes can put some into not only financial difficulties but also into legal problem. The mistakes include:
1. Do not have the right mindset
Like the start up of all businesses or tasks, MLM operation needs a firmed mindset to start up. One should construct his mind to treat this as a real business not a hobby. He will need to be willing to pay whatever it costs to make success. Normally, people jump into this and later found out that they do not earn what they want. This is simply because they did not put enough efforts. So prepare to really spend your resources once you decide to go for it.
2. Do not have the willingness to serve
MLM has a certain character in itself. It involves human beings all around including customers, your up-lines, your down-lines etc. The task in this business is to make sure that your activities make these people get what they want and you will also earn the return financially. With this concept, you need to be willing to serve others. Your services in any form determine your success in this business.
3. Do not choose the right product or service
Many MLM businesses do not have real products or services. These products or services will be given as value to the customers. You will need to be careful on this. If there is no real value, the business is just a pyramid scheme. It will just wait to fall down after awhile when no new people come and join.
4. Do not like selling
Let's face it. All people involve in selling one way or another. Selling include giving opinions and influencing others. We do this all the time in our life. From the research, people do not really hate selling but they hate the method of selling. They do not like to ask, request or pursue people and make them buy. This is where you need to learn the right technique for doing that and you will start to like right selling.
5. Do not keep record
Statistics are very important in this business. Keep tracking record will help you to know what you do right or wrong.
6. Do not keep account balance sheet
Separate personal account and business account. If you have them together, you will find one day that you drain out both.
7. Do not have goals
Goal setting is very important here more than the air to all beings on earth. You will not survive in this field without right goals.
8. Do not have serious action plan
People flourish by doing not just wishing. Do something once you decide to succeed. Having action plan is another important factor.
9. Do not have evaluation
If you do not evaluate what you do and keep track, what you did was useless. Make evaluation as much as you can. The best time to do it is on weekly and monthly basis.
10. Do not have vision
The people in this field need to know what they want to be and do when they join the business. They need to understand the power of their dream and visualization since being in the business need a lot of mind power. Right visualization will attract what you want according to The Law of Attraction. You may want to add some subliminal soundtrack into your visualization. It will dramatically help the process. There are many in the market. Attraction Accelerator can be one of your choices.
Multi-Level Marketing can be a challenge to many people. It is however another great opportunity to create whatever you dream of by the right approach. This article will guide you to the most common mistakes of the people in this field and how to not fall into them.