Tony Awards 2011 – How To Succeed In Business – Daniel Radcliffe & John Larroquette
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If you are serious about making money from home with a MLM business opportunity you must be aware of several key elements that will make a difference in your success.  

I’m Warren Franklin.  I’ve been a MLM business owner for over 10 years.  For years I walked the trail of tears making just about every mistake possible.  Then just over five years ago I discovered a better way to build my business.  Now I own one of the largest organizations in my MLM company.  I did it by utilizing the same key elements I’m sharing with you. 

Why am I sharing this information with you?  Frankly, I’m tired of seeing good people sign up with a MLM business only to fail after a few months of effort.  It’s time everyone understood how to make money from home.

Research is the first step to success

Frankly, the process of making money from home starts before you sign up.  The key is to find the right MLM business opportunity for you.  Your search shouldn’t be just about making money.  It should be about finding a product or service that you like and eventually develop a passion for what it does to help people or make the world a better place to live.  Even when you find a company you like you must gather additional information.

Questions you should ask are:

Is this business ahead of the bubble in its industry? How many other MLM companies are offering similar products or services? How much product do I have to purchase every month?  Is it more than I can consume in that time frame? Is it realistic to make money with this company given their compensation plan and the way they require me to build the business? What percent of the money paid out is in residual income compared to one time performance payouts Who is my sponsor? What kind of team building and leadership experience does he have?

Check out the Company and its Products & Services Offered

To make money from home you have work with a MLM business opportunity that is on the cutting edge of the industry with proven products and services.  If you find you are past the bubble of opportunity or the competition is high from other MLM companies the chances of succeeding are much more difficult. 

You have to ask, “How aggressive is the company at staying ahead of the industry?”  Is the company constantly looking for better ways to serve the public or has it stagnated and looking similar to the competition?  Being ahead of the curve means longevity and that means long term income for you as long as the products or services are useful and in demand.

Just as important, are customers happy with the products or services?  It’s pretty simple to check out the overall satisfaction for the company and what it offers with the Internet.  Do a search to see what past customers and business partners are saying about them.  You can always expect some negative comments, however, if you find whole web sites dedicated to the dissatisfaction of the company you might want to steer away from them. 

Learn what you are obligated to do once you sign up         

What is your initial investment to the company?  What do you get for your money?  Is there a start up kit and what is in it?  Do you have annual renewal fees with this business?  How long will it take and what do you need to do to get that money back?

Many nutritional based MLM businesses require you purchase $100 or more of product a month.  When you have a love and passion for the products you can live with this, however, if you signed up because you could see a big opportunity to make money from home you won’t last very long.  Make sure you really want the products offered before you sign up and are required to purchase them every month.

Remember, you will be asking business associates to sign, use the same products and make the same commitment.  When you have a passion for the products you can do that, but it is hard to ask people to do something that you aren’t sold on.

Compensation

I could spend a lot of time talking about this subject.  There’s so much to share.  Here are the keys to finding the right MLM business opportunity:

The company must pay out at around 50 percent of its gross income to its independent business partners every month.  Watch for company’s that pay out too little or too much that’s a huge red flag. How complicated is the compensation plan?  How fair is the compensation plan to every business partner?  Does it lean heavily toward the people at the top or can the little guy make a fair amount of money, too?  How easy is it to promote from one level to another?   Where in the compensation plan will you begin to make a $1,000 or more in income and what do you have to do to get there? Residual income is a key for me.  Compare how much money is paid up front for customer and business partner growth compared to the long-term residual income.  Residual income is what will eventually set you free.  It’s money that will come in month after month whether you work your business or not.  

Who Is Your Sponsor and What Kind of Leadership Skills Does He Have?

Who sponsors you into a MLM business opportunity is as important as determining the company and the products or services they offer.   One of the biggest mistakes most people make in this industry is signing up with people who don’t know what they are doing and don’t know how to teach you how to build your MLM business. 

Make sure you find a sponsor who either knows what he is doing or has experienced business associates who are willing to work with you. 

I recently wrote an article on this subject called, “A Critical Mistake 99 Percent of New Home-Based Business Owners Make Before They Sign Up.”  I encourage you to read this article.  It will save you a lot of headaches and hassles.

You must go to work and work the business

I have yet to see anyone succeed in this industry without putting time and effort into it.  That’s the way it is in everything we do.  Then, why is it that so many people sign up and then don’t do anything?   There are several reasons:

The prospect signed up for the wrong reasons and fears working the business Laziness & unmotivated Lack of belief in the products or services Lack of leadership and guidance Fear of rejection or embarrassment

Quitting is the biggest reason for failure.  Most people give up too soon.  They never give their business a chance to grow and develop.  It takes time to grow a large MLM business and make money from home.  Have patience, work hard and your business will grow.

When you choose the right MLM business opportunity making money from home becomes a whole lot easier especially when you have the right leadership teaching you how to do it, you work the business consistently and give it time to mature.

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