Many people in network marketing desire to know how to be successful in mlm. Indeed, with the attrition rate so high, finding success is not always easy. Many people do not realize that asking one simple question can greatly increase their chance of success? The question is quite simple. It is asking if they are in a vampire network. Read on to discover what a vampire network is.
-Vampire network question #1: What is a vampire network? A vampire network is always out for new blood. It is a company that constantly pushes distributors to build a huge downline. There is no true product and people would not join if there wasn't a business opportunity associated with it. Recruiting is important, but is spells bad news if it is the primary focus.
-Vampire network question #2: Is anyone retailing products or are they just garage qualified? Of course, everyone should continue to seek new leaders to grow and develop, but not to the point where no retailing of products occurs. There has to be a balance.
-Vampire network question #3: Where is the focus? If the focus is only on recruiting, and you are getting paid just to recruit, this is vampire networking.
-Vampire network question #4: What is the product price? Is it competitively priced? Is the product price being inflated? Remember, only a few companies manufacture products for most mlm companies. Inflated prices occur when a company's products are very high and the same product can be found with another company for much less. Plus, if you can find the product in places like Wal-mart, Costco, Safeway, on Ebay, etc., this spells trouble for distributors. Who can compete against Wal-Mart? When it comes to how to be successful in mlm, being involved with a company such as this will make success difficult.
-Vampire network question #5: What profit are people making? A profit is simply the difference between the wholesale and retail price of a product. If distributors only get 3%, 5%, 7%, etc. of the wholesale profit, they are going to need many, many people to build a good income. Many people more than likely means a couple of thousand or more. Ouch! Vampire networking!
-Vampire network question #6: How much overhead does the company have? For some, this sounds weird but it is important to consider. The less overhead, the more a company can put in a compensation plan for distributors.
-Vampire network question #7: Are bonuses paid out? Do people have to go through so many hoops that only the top 1% of people are qualified? This is especially important to consider since most people in mlm are part-timers. If almost no one ever qualifies, where does the money go? If people are looking at how to be successful in mlm, think about this very carefully.
-Vampire network question #8: Would people buy the product if there were no business opportunity associated with it? The question to always ask is if the recruiting stopped for any amount of time, would the company still be in business? If there is no true product yet lots of recruiting going on, it's an illegal pyramid scheme.
So, to answer the question how to be successful in mlm, think carefully about the above questions. If some people don't like their answers, it means they very well could be in a vampire network where success will be very difficult. Choose to be part of a company where you can build it big for your children and your children's children.