The answer to this question will be different for every person, depending on previous experience, personality type, determination, and a company’s compensation plan.
Let’s look at best-case and worst-case scenarios. We’ll start with the worst…
You will make nothing. Unfortunately, most people in network marketing make no money, whatsoever. The reason for this is easy to understand.
Think of all the people who join new network marketing companies every year. Most of these people have no prior experience at being self-employed, no previous experience in the industry, and no good idea about how they will market their products and find other business partners.
In addition, most MLM companies require an auto-shipment of products or services each month, and new distributors or representatives are often-times paying a monthly fee for a replicated company website, too.
So if you take into account that almost every new member has monthly expenses, but the majority are not selling enough products or sponsoring enough new recruits to recover these costs, there are bound to be a lot of people failing to make any actual income.
After a couple of months of this, most people will quit the company they are with and either move on to try their luck with another company or they will give up on their dreams of a network marketing career entirely.
Okay, that’s the worst-case and most common scenario.
Now we’ll look at the best-case scenario, which is that you end up going out and earning tens of thousands of dollars in profit? Is this possible? Yes, it is, but you’re going to need to come up with a good plan, and then take action daily.
Here’s are some tips:
- Decide on a number of new representatives you want to sponsor each month, and then figure out how many people you think you will need to talk to every day to accomplish this.
- Make sure you are a part of a company that has a good recruiting support system in place to help make it easier on you (online business presentations, online training, people available for 3-way calls to help with closing new recruits, etc.). This will be extremely important if you are new to MLM.
- Implement an effective marketing plan that won’t break your budget. Use a combination of blogging, connecting on Facebook and other social media sites, and video marketing and branding to get your name, business, and face in front of as many people as possible. This will help you build your contact list, which will be tied to a series of email auto-responders that you’ll have in place to stay in touch with everyone on your list. It’s extremely important to stay in touch, as you never know when it will be the right time for a person to decide to take action.
- If you are unfamiliar with online marketing techniques but have a deep desire to succeed in network marketing, MLM, or direct sales, find a mentor who will help teach you how to do what he or she is doing. Then, follow your mentor’s advice, and watch your business grow much faster than it ever could have if you had to figure everything out on your own!