Truly, 90% of the population will grab the opportunity of earning without having to work. It explains why almost everyone in Nigeria is into MMM today.
Yes, if given the chances and privileges, we want to have reasonable jobs with the following attributes:
- Having nothing to do with educational qualifications.
- No early morning alarm
- Gives time freedom.
- Provides unlimited income and fun
- Having no Boss or employees.
- A business a low start-up cost and low risk
- A business with a residual income.
- Peacefully climb up the career ladder without political ordeal or compromise in their place of work
- Be able enjoy personal growth.
But wait, what if you are being offered a career opportunity with all of these features? I guess this is where the response “in your dreams” would come in.
Although few jobs provide majority of the above attributes, but they are controversial business models like Bitcoin and Multi-level marketing/network marketing, Online Networking and others. Investors also get to enjoy them too.
It is true you can enjoy MOST of these in Multi-Level Marketing, but Contrary to some of the things Network Marketers tell their MLM prospects in order to make them join their business, they do not come that easily. Yes, that is the truth. They can’t easily enjoy All the above mentioned privileges except they become professionals in the business.
MlM is one of my favourite industries. Some people love it while others hate it. I believe it really is a controversial business model. There are lots of Multi-Level Marketing lies; some are deliberate while others are not.
The Top 14 Lies And Misconceptions People Have About MLM
These are the Multi-Level Marketing lies you have being having hard time accepting to be true. MLM business is not easy to build. Most people fail in MLM and so do most others in their other businesses. It requires your time, your money, patience and hard work.
Lie 1: Anybody Can Do Network Marketing
Not exactly. Succeeding in anything whatsoever in this life takes a special person. I am not talking only about MLM here.
It is not all people that are designed for the kind of skill, motivation, discipline, and mind-set that is required to build a business in MLM. You need the right mind set and skill set. So, maybe anybody can do it, but it is anybody with the right mindset, skill set, discipline and self-motivation.
You have to roll up your sleeves and do the work. This is not MMM or any other get-rich quick schemes.
Lie 2: You Can Hit A Jackpot And Walk Away
This is not true. There is no walk-away income in Multi-Level Marketing. You cannot decide to build a business and walk away from it with the income, just to go, sit back and enjoy.
You will need to always be there for you team. Do one thing or the other for them at one point or the other. If you leave your team for a long time, expect the members to go down the rail.
It would eventually happen even if it is after many years. As you build your team, you have to teach them, train them and build relationships with them. Again, this is not MMM or gambling.
Lie 3: Start Prospecting With Your friends and family
You might have also heard that your friends and family are the best prospect. No, they aren’t. How can you build a business with that kind of foundation and expect the best from it.
Most of the time, they are sceptical and it becomes very hard for them to join your business. They are even the ones that would first think you are crazy to have joined network marketing.
They keep telling you that you are wasting your time and see you as an unserious person. Don’t make your family and friends your first target market into your MLM business. If they develop interest, fine.
Talking about the temporary loss of social self-esteem in MLM, this is where it starts from.
Lie 4: You Would Not Have To Retail
If you do not retail, how do you expect products to move? Aren’t you getting paid for this exact purpose? Products need to keep moving for you to get paid. So, if you have been told that you won’t retail in MLM, it is not true. All businesses need customers. Your team members should have at least more than 10 personal customers.
You can also read more about what you should do with your MLM products HERE.
Lie 5: Sponsoring Will Get You There On Time
This is true, but it is not a guarantee for you to succeed like it is being painted. It is very important to train your team. You will need to practically hold the hands of some of your team members and others, you will give intense training. But most times, you just need to train them but it is not all the members of your team that would do what you have taught them.
Lie 6: Multi-Level Marketing Has 95% Failure Rate
Don’t follow the BIG lie that everyone fails in MLM. It is wrong. Some people are into this MLM business to gain profit from the products, others just want to join a social club while others want to hit it really big.
Majority do not have the intention of making a career out of this business, so they do not treat it like a profession. Most of the people that fail did not do the necessary things required to achieve success in this business.
Read more on the Proven Lie about the 95% MLM failure rate.
7: You Can Succeed In MLM With Any Company
I do not think so. You have to join the right company. You cannot succeed with just any company. You shouldn’t run from one MLM company to the other thinking it’s their fault for your failure when the problem is with you. Most top earners in MLM today failed in their previous companies.
Even I, failed in two companies before I found this my current company. You need to pick a good company that offers good products or services that you love and are passionate about.
Lie 8: Stick To The Status-Quo
On entering this MLM business, you must have been told that you should strictly stick to the system. Maybe, you should, but do not do it strictly. In MLM, you need to leverage your own personal skills, talents and abilities.
Many MLM Gurus today have something unique about them that made them succeed. Some of them, their own sponsors gave up and quit the business. This is why you need to find out your own strengths, and focus on it wisely.
You do not necessarily have to follow the system. Most successful people do not follow their uplines’ system. Train yourself to see what works for you or not.
Lie 9: You Cannot Succeed Without The Guidance Of Your Sponsor
You Can. Not having a good sponsor is not an excuse for you to quit in Network Marketing. Top earners in MLM today, their own sponsors quit or were crappy, but they still made it. This is your business; it is up to you what you do with it. You can only be privileged to have to good sponsor. If you do, count yourself lucky. Just know that it is not compulsory.
Lie 10: The Old School MLM Is Dead
No, it is not. Like I said earlier, find out what works for you. Most successful people today still rely on the old school way of prospecting. I do it and it is still very effective, but if you are better in online prospecting, it is even better.
Lie 11: Everyone Is A Prospect
If you keep going with the idea that everyone is a prospect, then it is as good as no one is a prospect. In MLM, there are two target markets for you. One for your products, and the other for your prospects.
For your products, you have to look for customers that are willing to buy your products and have the money to do that. The other target market is get people into your MLM business, which are sale reps, entrepreneurs, self-motivated people and so on.
Lie 12: Duplication Is The Best Deal
According to one of the successful MLM Gurus, he prospects a little more than a thousand people. Around 800 joined his business, a little about 300 continued, others dropped. At the end of the day, 89 people stayed till the end but only 11 people made him a billionaire.
The same goes with others. That you keep duplicating does not guarantee your success. Duplicate and have your team do nothing? No referring, inviting, sponsoring. Even if you help some, they still won’t do anything. You really call that duplicating?
The truth is your team need to be doing one thing or the other in a consistent basis. That you have more than a 1000 in your team does not guarantee success. You do not need that much Most of them would quit on you. But the ones that stick around will help you in building your business.
Another reason you have to sponsor RIGHT.
Lie 13: You Do Not Necessarily Have To Be Skilled In Sales
Selling or sharing. You have to develop a skill for that as well. You also need to be good at sales too. You are an entrepreneur. How do you intend to get customers for your products or prospects for your business? Prospecting is all about you selling the dream of financial freedom or sharing the knowledge.
It would be for your own good, if you study and learn all you can on this. This is not compulsory, but if you are able to master this, you would be able to succeed on time in this business. Selling or sharing, you have got to learn how to do it right.
Lie 14: Time freedom
Your Upline might have told you that you just have to put in two to three hours per day, it is good. But that won’t get you a big income in MLM. It takes much time, it is like every other business and you have to treat it like one. Become a pro.
Multi-Level Marketing Lies -Conclusion
MLM is not exactly the best business model. It is not for everybody too. But if you are into it, I am boldly telling you that you are on a right path to financial freedom. If you are considering joining the industry, now you know what you should prepare your mind towards, to avoid unrealistic expectations, surprises or discouragements.
I happen to discover most of the above facts on my own after joining, but I am still moving forward in the business. The fact that my Sponsor did not paint the business as a bed of roses also helped me. You can’t be successful if you are not willing, persistence and dedicated. I am not saying it is going to be easy, but it is going to be worth all your efforts. You have to give it TIME.
But it’s ok if you think I am wrong in any of my points. These are just my opinions about the MLM business. So, feel free to share yours. I am ready to see things from your own point of view as well.