MLM Product .vs MLM Opportunity, what is the right balance. This is a question I hear from home based CEOs I coach on a regular basis. I even has this question come up when I am consulting with entrepreneurs who are contemplating adding a network marketing compensation plan to their existing business model.
In talking with one of my mentors and good friends Rod Cook (America’s foremost expert on MLM compensation plans) he confirmed that his clients also debate which they should lead with their mlm products or their mlm opportunity.
Well, I sure don’t have all the answers, and I am not sure anyone does. However, I do have a few thoughts on this subject.
By the way this topic is the main feature of Direct Selling News this month.
First I think we all agree our products and opportunity is equally important. Without an solid opportunity no one would market the products. And without the best in category products we would not have any need for an opportunity.
So what should we do as home based CEOs? Do we try and create some money story, showing how a person can earn millions from their home marketing mlm products? NO!
In the few companies I have been privileged to be a part of, they have all focused on providing the best products or services in their respective industries. It is this passionate focus on quality, that has allowed some of the best people I know to become multi-millionaires.
Let’s take a look at what some of the most successful CEOs in Network Marketing history have to say about this topic.
Greg Provenzano – founder & CEO of ACN: “Nothing happens and no money gets paid out unless customers are acquired.” (direct selling news)
Glenn Williams – President of Primerica: “For money to be made, sales must be made to the end consumer.” (direct selling news)
Bob Freeze – V.P. of Public Relations of XanGo: “From our standpoint, you have to start with a credible, beneficial product that people have a good experience with or you won’t have an opportunity.” 9direct selling news)
Bonni Davis – V.P. of Sales of Lia Sophie: ” People come into the business for many reasons, and they change frequently as things in their lives. So sharing the opportunity is utmost. However, most of our jewelry advisers start as customers.” (direct selling news)
Spencer Reese – Top MLM Attorney: “While offering an opportunity is essential for growth, companies leave themselves open to being prosecuted as pyramid schemes if their revenues rely too heavily on recruiting. (direct selling news)
Think for a second about the day you were first approached about your network marketing opportunity. Were you looking on the internet for a home based business? Or were you talking to a friend and they shared with you a new product or service they had just purchased?
Now, ask yourself this question… Did you like the way they approached you?
Here is another question you need to ask yourself… When you were first learned the company you might be representing was mlm/network marketing what did you think? “Not another MLM scam?” or something close to it?
In the past over ambitious, yet good hearted distributors have over pushed the opportunities of their companies. Three events have taken place from this type of zealous business methods.
1. These distributors turn off their friends and family and quickly fade from MLM.
2. These distributors attract the attention of the FTC and are fined along with their companies.
3. Reputable companies are left with not option but to terminate these distributors and pay huge FTC fines.
So, in conclusion here are three keys to growing your MLM business the correct way.
1. Don’t HYPE your network marketing opportunity.
2. Make sure you are with the right company for you
3. Share from your heart! If your story is based on the financial rewards of your company then share. If the products have changed your life, then share about it.
And remember… NEVER FAKE IT TILL YOU MAKE IT!
People are looking for leaders they can trust, and a business that will help them fulfill their passions and purpose in life.
Never Give Up,