Multi-level marketing or MLM is a popular term but occupied by a lot of misconceptions. One such misconception among people about this business is the compensation plans in the country and the whole world over which we all may encounter as direct selling or MLM consultancy. For instance, MLM compensation plans that are deployed by the companies.
In this post, we will shed some light on the common mistakes that can be avoided by hiring the services of a professional MLM consultant or consultancy in India. So, let us get started!
Mistake 1: I am a part of a direct selling company and I know everything.
Reality: Mostly, new MLM business owners are unaware of the infrastructure and resources needed to support the direct selling business. It is because of the narrow view that they have about the field and sales activities. This is one of the reasons why a huge number of start-ups shut down in the first 2-3 years.
Mistake 2: The MLM business looks to be quite successful in a short span.
Reality: You cannot deny the fact that some businesses may get lucky! However, it is good to keep the investment period at least 3-5 years and a minimum of 6-9 years to gain popularity and a strong homegrown field. You must understand that a good company culture that can drive business and profit to higher levels takes time. Your MLM consultants in India will also tell you the same.
Mistake 3: With ‘old school’ compensation and success plans you can earn a handsome amount.
Reality: Well! You need to take the acid test to check what looks good on the paper! It is a fact you must modify your plans after a regular interval or as per the market trends to cater to the diversified and evolving needs of the customers. If you think that your old plans can help you succeed, then you are wrong.
Mistake 4: My business is like a ‘ground floor opportunity’ that is far better than other existing MLM companies.
Reality: This is a ‘Misnomer’. With this approach, you can only grab the attention of ‘grass is greener’ butterflies that jump from one company to another and rarely achieve anything better. Instead, you must focus on your experience, expertise, business opportunities, qualities of your products, and so forth to attain your goals.
Final Words
These mistakes have caused as well as are continuing to cause huge damage to the MLM industry by creating unnecessary confusion among people. So, you should consult with a good MLM consultancy before moving ahead to leverage the benefits.
In this post, we will shed some light on the common mistakes that can be avoided by hiring the services of a professional MLM consultant or consultancy in India. So, let us get started!
Mistake 1: I am a part of a direct selling company and I know everything.
Reality: Mostly, new MLM business owners are unaware of the infrastructure and resources needed to support the direct selling business. It is because of the narrow view that they have about the field and sales activities. This is one of the reasons why a huge number of start-ups shut down in the first 2-3 years.
Mistake 2: The MLM business looks to be quite successful in a short span.
Reality: You cannot deny the fact that some businesses may get lucky! However, it is good to keep the investment period at least 3-5 years and a minimum of 6-9 years to gain popularity and a strong homegrown field. You must understand that a good company culture that can drive business and profit to higher levels takes time. Your MLM consultants in India will also tell you the same.
Mistake 3: With ‘old school’ compensation and success plans you can earn a handsome amount.
Reality: Well! You need to take the acid test to check what looks good on the paper! It is a fact you must modify your plans after a regular interval or as per the market trends to cater to the diversified and evolving needs of the customers. If you think that your old plans can help you succeed, then you are wrong.
Mistake 4: My business is like a ‘ground floor opportunity’ that is far better than other existing MLM companies.
Reality: This is a ‘Misnomer’. With this approach, you can only grab the attention of ‘grass is greener’ butterflies that jump from one company to another and rarely achieve anything better. Instead, you must focus on your experience, expertise, business opportunities, qualities of your products, and so forth to attain your goals.
Final Words
These mistakes have caused as well as are continuing to cause huge damage to the MLM industry by creating unnecessary confusion among people. So, you should consult with a good MLM consultancy before moving ahead to leverage the benefits.
