To make true money from MLM residual income, you need to examine the opportunity very closely. There are certain criteria for insuring you get a good deal. Some of these considerations relate to both the opportunity and you ability to commit to and perform the necessary actions to be successful. Though the business and opportunity are important, what are most important are you as a business person, your abilities and your focus.
Harvard Business School conducted some research on MLM opportunities and what make them successful. They came up with three factors that are important for success. They studied many, many opportunities to determine which were successful and what made them successful. Following these three factors will help in your success.
Number one is to be sure to get in on the ground floor of a company. They defined the ground floor of an opportunity as less that 1/2% of the total population being involved. In the U. S. Alone, this would equate to about 1.5 million. So, find out how many people are already a part of the business. If it is more than that, you are fighting a losing battle.
Number two was that the product or products should be unique to that company, and that is should be highly consumable, meaning it gets used up and needs to be replaced periodically. When the customer can only get the product from your company, and with the need to replace it periodically, you have a loyal customer and don’t have to keep trying to find new customers.
The third factor they came up with involves the age of the company. To insure success, you need to make sure that the company is over 18 months old. Companies that are going to fail usually do so in the first 18 months. So, if the company you are looking into is older than that, they might likely be successful.
To summarize, you need to find a company that has been around in excess of 18 months, has less that 1.5 million distributors, and has a unique, consumable product. You need to do your research, both outside the company and within the company. If you get resistance from the leadership in answering these questions, then you need to leave that company out of the running.
This information, compiled by Harvard Business School into bottom line figures, is as follows. To get in on a great opportunity, make sure there are less than 500,000 distributors. To get a chance of a lifetime, they say make sure there are less than 100,000 distributors. Use these figures to determine if you are getting a great, or a once in a lifetime deal.
What other factors enter into success, in addition to those discovered by Harvard Business School? Attraction marketing is a biggie in the world of MLM marketing. This just means branding yourself as an expert by providing excellent content both on your website and through articles submitted to directories. If you give good content that is applicable to your product in some way, you will attract the right people to become either customers or associates, or both.
One final factor in earning a MLM residual income is that of your focus. You cannot focus on yourself and your dreams, or even on your excellent product, and hope to gain a following of customers or a good downline. You have to focus on people, on what they want, and how you can help them get what they want. If you don’t do this, you will have to constantly be reselling your product and your company.
These factors all add up to the possibility of earning an good MLM residual income. This income will keep on coming in, even when you are sleeping or on vacation. However, this doesn’t mean you never have to consider it again. People, customers and downline, will come and go. Products change. You have to stay on top of things, spending at least a little time in keeping this income going.
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