Things You Need To Know About Multi-Level Marketing

Multi-level marketing, also known as network marketing, is a unique business structure which encourages its members to learn and adapt the skills they will need to someday run their own businesses, while at the same time giving them the space to practise these skills and earn money at a job.

Multi-level marketing schemes hinge on your ability to sell – whether that is yourself or a product, you need to have the skills to make people notice. My own story is here (https://www.bradkrussell.com.au/mlm-network-marketing-australia/), but in general multi-level marketing is all set up in the same way.  You come into the marketing scheme at the bottom of the hierarchy, and a portion of sales goes into your pocket as your wages, while some goes to the company. Once you have sold enough, and reached a higher level, you gain the ability to bring people into the scheme below you.

Not everybody agrees with or likes the way that multi-level marketing works. Here is a short article on the pros and cons:

Freedom of Business

Multi-level marketing is good because it allows for many different people to access work and a good business. Most multi-level marketing schemes have everybody from stay-at-home mothers to full-time businessmen who need some extra cash on the side working for them. Multi-level marketing schemes are flexible, which is why people are drawn to them – they can be worked on around other schedules, though of course the amount of money that you make can be affected by the amount of time you have to spend on them.

It’s an Easy Way to Move into the Business World

Starting your own business is a lot of work. How much easier is it to start in multi-level marketing, where you have your own business, but the harder financial details have been sorted out ahead of time? Multi-level marketing allows you to work on your own and by yourself for the most part, although you do have some obligations to fulfil when it comes to your group leader, of course.

It’s a Fast Growing Industry

Multi-level marketing is one of the best ways to court success because it is one of the fastest-growing industries out there. Because it is such a growing business, doubling or even tripling your income becomes so much easier than working in a conventional corporate environment would be.

You Will Expand your Contact List

Since multi-level marketing is so big, and getting bigger every day, the chance to make new business contacts is growing exponentially. The longer you spend with a multi-level marketing scheme, the better your chances of meeting someone who is higher up in the company, or is an important business figure in general. Having these people in your contact book can raise your own profile, and it can benefit you whether you stay in the multi-level marketing business, or whether you strike out on your own afterwards.

 

Author: Kar

Dr. Kar is in the Information Systems & Management area in one of the top QS Ranked universities of Asia/world. He has extensive experience in teaching, training, consultancy and research in Indian Institutes. He has published over 75 high impact research papers with hundreds of citations as per Google Scholar. He has also authored/edited a number of books. He is the Editor and Founder of Business Fundas.
Note: The articles authored in this blog are his personal views and does not reflect that of his affiliations.