MLM stands for Multi-Level-Marketing. Such a program starts with a product or service to sell, yet the way to grow your business is to build a network. If you enlist 3 friends, you receive a percentage of their sales. If they each enlist 3 friends, you are now receiving a percentage of sales from 12 people (the original 3, plus the 9 they brought on).
There are plenty of articles online that will educate you on what to look for in an MLM. A simple search for “What is an MLM?” in Google will probably yield enough results in the first two pages to give you most of what you need. One of my favorite resources is About.com, which has lists of relevant articles under the Entrepreneur section. For starters, check out “Too Good To Be True?” by About.com contributor Scott Allen, which defines 6 criteria you should look for in an MLM. While there, peruse around for more valuable resources.
Most information you will find will heed the warnings of multi-level-marketing. A few to review are at Vandruff.com, and http://www.mlm-thetruth.com. And with good reason. There’s a standard pitch that seems to can prey on what everyone looks for in an opportunity – no selling, unlimited potential, free time to enjoy your new boat.
However, don’t think that all MLM opportunities are ones to stay away from. There have been many companies that implemented this structure and were very successful in doing so. Two examples are Avon and Mary Kay. The best test is to ask yourself if the product or service on its own appears to be valuable and profitable. In other words, do you feel confident in the business of selling the product or service alone without creating a network? If not, then you should dig deeper into its potential.
Other resources I recommend visiting are http://www.mlmwatch.org/ or http://www.mlm.com/.
As we’ve mentioned elsewhere, please understand that HomeBusinessBug.com will not limit a company’s ability to advertise based on negative feedback we have heard or come across. Reputable companies have had negative press, and even those that appear to have more negative press than usual may have just as many people that they are successful for. The internet makes additional research very accessible. Let HomeBusinessBug.com be just your first stop in gathering the information you need to owning your own business.
Mon, 04/2/2012 - 01:56 AM | viewed 422 times
In February, 2012, Facebook held its 'fMC Conference' which introduced upcoming features and changes to the site, including Timeline for Pages. All of these changes impact the way an entrepreneur or smb can best utilize their Facebook presence to increase traffic, interact with fans, and ultimately, convert these fans into customers. Here we'll take a closer look at the changes to Facebook, how you can use the new features to your advantage as part of your business plan, and some helpful tips on creating a successful Facebook promotion.
Sat, 03/10/2012 - 05:35 PM | viewed 492 times
In the initial stages of a business startup, most entrepreneurs recognize that they'll need the expertise of an accountant at various times, but few realize that they'll no doubt need the help of another professional, an attorney. Their logic would be that they don't plan on breaking the law or getting sued, so legal services aren't necessary. The truth is quite the contrary, however.
Sun, 03/4/2012 - 01:54 PM | viewed 531 times
Now that you've developed a great startup concept, and you're in the business plan development stage, the time has arrived to come up with the right name for your new endeavor. There are a number of differing theories on what makes a great business name, but one thing is certain, choosing the right name can play a big part in how your business is perceived by your customers, and it can make or break your image.
Sat, 03/3/2012 - 12:55 PM | viewed 411 times
On average, roughly 600,000 Americans start new businesses each year. If you're one of the millions more contemplating taking that giant step into business ownership, don't let fear of the unknown stop you. Some of the stumbling blocks for would-be entrepreneurs include indecision about the right kind of business, a fear of putting their money and time into a business that fails, or they may simply have no idea where to start. Generating an idea for a small business isn't always easy, but with some good advice and common sense, you can learn how to choose a viable concept.
Thu, 03/1/2012 - 12:16 PM | viewed 618 times
If you're a small business owner or an entrepreneur involved in your first startup, you're well aware of the impact that successful Facebook marketing can have on your bottom line. Finding your way through the maze of available apps and tools is time-consuming, tedious work. If you're on the hunt for the latest and greatest ways to reach a larger audience and build your business, check out our recommended Facebook tools and apps that are specifically geared toward taking full advantage of your fan page.
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