Did you know that roughly 98.5% of make money online type influencers and gurus do NOT want you to replicate what they’re doing that makes them successful?
Why? Many influencers and gurus who claim to be successful in making money online do not want to reveal their exact process to others. The reason behind this is if they share their methods and strategies, they create competition for themselves.
This phenomenon is not limited to the make money online niche; it can be seen in many other industries as well. For example, in the business world, many successful entrepreneurs may not reveal their exact business model or strategies because they don’t want to create competition or give away their competitive advantage.
So… instead of listening to what these influencers and gurus say, one should pay attention to what they are actually doing to be successful. This is a common adage in the world of business and entrepreneurship, which means that one should focus on the actions and results of successful people rather than just their words.
Overall, while it is understandable that successful influencers and gurus may not want to reveal their exact process, it is important to remember that there are still valuable lessons to be learned from their actions and results.
Aspiring entrepreneurs should focus on learning from successful individuals, while also developing their own unique approach and strategies to achieve success in their chosen industry.
One Of The Best Business Success Model’s For Beginners
Multi-level marketing (MLM) opportunities are a type of business model where individuals can earn income by promoting and selling products or services to others. One of the benefits of joining an MLM opportunity is that sponsors, who are typically experienced and successful individuals in the business, want you to replicate their exact successful strategies.
This can be highly beneficial for new MLM members because they can learn from the experiences of their sponsors, who can offer valuable guidance and support. Sponsors often provide training and coaching to their team members, teaching them the most effective sales techniques, marketing strategies, and product knowledge to help them succeed.
Furthermore, sponsors are typically highly motivated to help their team members succeed because their success is directly tied to their own success. In the MLM model, sponsors earn a commission on the sales made by their team members, so it is in their best interest to help their team members succeed and reach their full potential.
Joining an MLM opportunity can also provide individuals with the opportunity to work from home, set their own schedule, and be their own boss. This flexibility can be highly attractive to those looking for a more flexible work-life balance or who want to earn additional income without having to leave their current job.
Approximately 125 million people are involved with MLM worldwide. (1.5% ish of the population, hence the 98.5% figure in the opening paragraph).
The US is home to the top three most profitable MLMs, with joint revenue of about $19 billion.
Amway, with $8.8 billion in revenue, Avon, with $5.7 billion, and Herbalife, with $4.5 billion, are the top MLM companies, all located in the US. MLM statistics point to Mary Kay Europe and Vorwerk as the next top companies, which come from Germany and have revenue of $4.2 and $3.5 billion, respectively. (source: Codeless)
Anyone with an entrepreneurial spirit who’s looked at MLM commission payment plans can’t help but get turned on about the amazing potential (passive monthly) income from the efforts of others. “Wouldn’t it be wonderful if I introduced some hot-shot sales and marketing person who takes this into Asia or Europe and it explodes so I can count my ever growing commissions while sipping beers on my yacht” spring to mind.
With that being said…
Why Do So Many People Quit MLM Companies?
Multi-level marketing (MLM) programs often offer products that are more expensive compared to similar products available in the market, which is one of the reasons why many people quit the program. There are a few reasons why MLM products are often more expensive:
- Commission-based pay structure: MLM programs operate on a commission-based pay structure, where each level of the hierarchy earns a percentage of the sales made by the people under them. This means that the products need to be priced higher to cover the commissions paid out to the sales representatives.
- Cost of distribution: MLM programs often rely on independent sales representatives to distribute their products. This means that they may have higher distribution costs, which are passed on to the consumer in the form of higher prices.
- Quality and exclusivity: Some MLM programs may justify the higher price of their products by claiming that they are of higher quality or exclusive. While this may be true in some cases, it is important to do your own research and compare the product to similar products available in the market.
The higher price point of MLM products can make it difficult for sales representatives to sell and retain customers. Some customers may feel that they can find similar products at a lower price elsewhere, while others may not see the value in paying a higher price for a product just to support a sales representative.
Furthermore, some MLM programs may require their sales representatives to purchase a certain amount of product each month in order to remain active in the program. This can be a significant financial burden for some people and may contribute to their decision to quit the program.
The high cost of MLM products can be a barrier to entry for some people, and may contribute to their decision to quit the program. While the commission-based pay structure and cost of distribution may justify a higher price point for some MLM products, the bottom line with these companies is they’re not really a products based business model, (because anyone can buy similar products much cheaper elsewhere).
So the focus then turns to the “business opportunity” and potential commissions that can be made. Not on the products
So your sales pitch to your aunt Mary who could really benefit from top quality health and wellness products for example, is kinda doomed from the point the price is mentioned, but maybe she can join and introduce her friends to help cover/justify the price…
Yep, the elephant is hard for Mary, and her friends, and everyone else to ignore.
So What If There’s A Better Way?
There is, it’s taken me 35 year’s of waiting for the right business model to come along. And it’s finally arrived.
To find out more watch the 5 minute video on my website page here
It is important to approach MLM opportunities with a level head and to thoroughly research any company before joining. MLM opportunities can be highly competitive, and success is not guaranteed. It is important to carefully consider the risks and benefits before joining an MLM opportunity and to approach it with realistic expectations.