Although this is one of the least discussed topics about your MLM business, it is actually a very important part of your business. To be successful in your home business,  it is extremely important to get a good mentor. In fact, it is just as important as finding a good sponsor if you want to achieve success in your MLM business. Tracking out a good mentor and finding one, when starting your MLM business, is like hitting the jackpot to win a game.While working on your home based business, when you are blessed with a good mentor, the difference between success and failure can distinctly be observed. With his long years of experience, your mentor will ensure that you don’t encounter the same mistakes that they experienced before. They will also guide you to learn the ropes of MLM business and on the possible fall backs you may encounter during the course of this business. This will not only save you time but will also gain you more experience when you start your own business. Starting without a mentor, you might just feel really frustrated and possibly lose your direction within a few months.What has to be borne in mind is that, when looking for a mentor, look out for someone really special whom you can respect, trust and accept the teachings from and also look out for the one, who is already making a steady income of about $5000 – $10,000 every month. It of course depends upon your goal of earning a specific figure each month and to look out for a mentor achieving similar target as your goal.Learning to be consistent and persistent is one of the main ingredients when starting your MLM business. Find someone who has gained success in one company rather than many other companies and accept the conditions of learning the classic way of doing what your mentor does and saying what your mentor says. Make certain that you maintain a healthy relationship with your MLM mentor. It is good that the mentor you choose matches your personalities so that you not only get comfortable with the coaching, but also get a long lasting friendship which will strengthen your success, ahead in life. A successful MLM person is always willing to help others be successful and hence a good mentor will listen to you and would perhaps add in a few useful ideas and tips for a positive result. Finding a mentor is not so difficult and you can get your perfect choice of a mentor through forums based on network marketing/MLM. Here, you can evaluate how respectable the members are and know more about what they have to say and on how they introduce themselves. Always revising thoroughly on what you intend to talk about, approach the member you have chosen, and very politely and professionally ask them if they could be your mentor. When they get convinced of your determination and seriousness in the MLM business, they will be more open to be your mentor. Focusing on how the relationship can benefit both of you, get prepared for long term relationship with your newly found potential mentor. Following the etiquette is what people expect in the MLM industry and if this is respected in its true professional sense, then you are in the best of positions for the rest of your life, to get a good mentor for your MLM business.

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Members of multilevel marketing (MLM) currently are growing by leaps and bounds. But just as there are multiple members of MLM, there are as many myths and misconceptions that surround those who practice multi level marketing.

The following are myths commonly associated with MLM.

First MLM myth: Multi level marketing is a form of pyramid scheme.
The fact is that – it is not. Fist of all the obvious difference between MLM and a pyramid scheme is that the former is a legal means to perform business while the latter is definitely illegal.

The common process in a pyramid scheme is that you usually have to part with a significant amount of you hard earned money in exchange for literally nothing. You get no visible services or goods. What you are supposed to have is a lot of luck and a chance to double, triple or quadruple the money you put in – if that is ever possible. But chances are — and there is a lot of chance of this happening – the only person or persons that do get rich are the ones on top of the pyramid.

The idea is that pyramid schemes is a way to transfer funds from one person to another.
But in multilevel marketing, you are given the opportunity to involve yourself in a system of business that is legal. There are actual products distributed among MLM members and networks composed of various clients and buyers.

Second MLM myth: Multilevel marketing provides better money making prospects than
conventional businesses and business models.
The fact is that that is not the case for all MLM ventures. There have been instances where only a mere one percent of MLM investors and distributors actually gained profit. Meanwhile, those who earn a living via MLM are also smaller in number.
The conclusion that opportunities for success in a multilevel marketing business is slim is mathematically sound. This is because the structure of MLM can actually support a very small number of successful MLM winners.

Basically the system is unstable and the quantity of distributors in a specific area is unlimited, also there is no clear or specific market potential evaluation.

Third myth: Multilevel marketing is a Ponzi scheme in disguise

The fact is that – it is not. A Ponzi scheme derived its name from a man who existed during the 1920’s whose last name was Ponzi. Charles K Ponzi operated a scheme wherein older investors earned money literally by sitting down and doing nothing thanks to the influx of money invested by newer members.

The difference between a Ponzi scheme and a pyramid scheme is that the Ponzi scheme ollows no clear structure or hierarchy. Actually, there is only one — lucky – person who collects money acquired from new investors. This person then uses the collected funds to reward, award and give these cash to older investors who were earlier promised that they will be given the proceeds originally promised to be given to them.

So the bottomline is: if you are involved in a Ponzi scheme, you are then merely paying off profits originally promised to earlier investors. Ponzi schemers make you believe that they will help you make money when in actuality they are taking your money and giving it to those investors who earlier put their money in long before you did.
In a Ponzi scheme there is also no visible goods and services provided or distributed.

Fourth myth: Multilevel marketing is a way of life that gives you security and fulfillment.

The fact is that — it does not. In reality no such business exists that will give anyone a secure and fulfillin way of life. No business is perfect, there will always be financial ups as well as financial downs. And multilevel marketing is just as subject to that.
Unfortunately most MLM advertisements and come-ons involve truly tempting forms of materialism. The excesses presented by multilevel marketing companies would make even Fortune 100 companies blush. Most MLM ventures promise scandalous wealth, personal fulfillment and luxury.

Fifth myth: Multilevel marketing is as easy as one two three.

The fact is that MLM is not for the lazy at heart. There is a misconception that MLM equals to easy money. Some even think that all they have to do is establish a few contacts – preferably those they already know like family and friends – and from there wait for their checks to arrive in the mail.
Most people who actually get rich from MLM ventures are those that worked the hardest.

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Several questions buzz in one’s mind regarding Multi-level Marketing business. People seem to be perplexed by the status of this business…is it really a business! Then comes the question of its productivity….can it generate enough money for livelihood? Is MLM business is a distribution business? Does it care for the satisfaction of customers and looks always for new customers?

All the answers of these questions are positive.

Let me clarify how and why it is called a business. There are 5 business factors test questions whose replies are required to qualify any venture as a business.

Does MLM business distribute some kind of goods and services?

Yes. Goods and services are distributed in MLM business by personal distribution methods. The goods are directly distributed to the customers without any involvement of middle man. The MLM company can certainly manufacture these goods and services but they generally don’t. In the MLM business, the goods and services are fabricated by outsiders; those are then shipped by the MLM business to the distributor or customer. The distributor now takes possession of the goods and is ready to sell them to their own customers.

Is there any existence of official office, headquarters or structure from where the MLM business is done, with an address?

Yes. Every MLM business possesses some sort of headquarters of office from where the goods are shipped; they must take the responsibility of the handling of the shipments to the customers. The office need not be a pretty looking edifice, but a structure which provides proper atmosphere to accomplish the necessary works in scheduled time. All the MLM businesses must have a visible address for the convenience to communicate.

But the distributor works out of this office as his business is home based.

Does MLM business possess a structure of accounts for an effective and legal running of its works?

Yes. The MLM businesses have an accounting structure; there should be professionals for taking care of the smooth running of all business transactions. These persons maintain the book keeping task for the MLM business as well as the MLM distributor. The MLM business taking place from home must also have some kind of an accounting function. This is needed for profit and loss statements and tax purposes.

Are there business licenses and legal structures of MLM business which are required to do business in the countries and states they work in?

Yes. Every MLM business, irrespective of the time period of their operation, requires having the necessary legal structures and business licenses to work in any corner of the world. They are subjected to cease in a state if they cannot show proper documents. A large portion of MLM business possesses some kind of a corporate body under which the company operates.

Is the basis of the operation of any MLM business ‘for profit’?

Yes. A traditional or non-traditional successful business, in general, operates on a ‘for profit’ basis. The MLM distributor even requires working on a ‘for profit’ foundation. This ‘for profit’ basis is needed because operating not in a mode of profit and incessant loss of money can mar the prospects of a business.

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As the name suggests, mlm (multi-level-marketing), basically involves selling a company’s product directly to the customer by way of networking. Traditional retail selling is left to the brick and mortor businesses.
Mlm is executed through a multi-layered distributor system where payments by the company are made to the distributors according to the distribution level they are in. Distributors are responsible for the business development and the revenue generation for the company.
The products sold are traditionally those that are used daily. Generally mlm is done by the companies that are offering products of regular use, such as, soaps, detergents, vitamins, car wash, containers and cosmetics. This is not an exhaustive list, it’s merely a sample.
The convenience of shopping is another strong feature of mlm. Generally, mlm supports online shopping and at times even people network makes the shopping process easy. The distributor goes to the customer’s house, workplace or wherever it’s convenient to both the seller and the buyer.
The key features of mlm include networking, flexible timing and convenience.
Networking is the backbone and the soul of mlm. Word of mouth and trust play major roles in the success of mlm. People known to the distributor trust him or her recommendations and try out the products. If the products do have the impact on the customers, then these customers most often recommend these same products to other people they know. And so the snowball rolls.
There’s nothing quite like the flexibility of working for yourself. A mlm distributor can work for as long as he or she wishes to. Therefore, the time, money and efforts to be invested in mlm is totally on your choice. You may pursue it full-time or part-time as suits you.
Along with the convenience of flexible timings, mlm distributors generally work from home. They don’t have to show up in the office daily and they can work the hours that fit around other important things in their life.
Startup capital is usually very small as a mlm distributor. Therefore, you run little financial risk. But, do measure the risk-return ratio before venturing into mlm.
Is this a get rich quick business? NO. It takes a lot of time to grow in mlm. But, if you are determined to succeed there is nothing to stop you. Results will show.
Permission is granted to reprint this article as long as no changes are made, and the entire resource box is included.

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Have you ever wanted your own home based business and considered MLM, aslo know as Multi Level Marketing. MLM can be a good way to work as an independent contractor and earn a good living without having to worry about expenses and having the office skills the one requires when operating a wholly independent business. Multi Level Marketing has become associated with fraudulent schemes which were based on this premise. How does one ensure that the MLM opportunity they are interested in is above board, and how does one choose the most suitable opportunity for themself?

A valid MLM opportunity will reward you with revenue which is based mostly on sales that you make on products and services. Multi Level Companies can be thought of as distributors and many operate order fulfillment warehouses. These MLM companies motivate you as a franchiser to sell their products, with support coming from the MLM company. Be carefull of MLM companies that offer compensation based solely on how many people you can persuade to sign up under you. Also be wary of MLM companies that require you to put up large amounts of money to join. Some may claim that the signup fee is used to cover training costs or startup equipment. These types of companies are not truly an MLM company, but rather a pyramid or ponzi scheme. You could invest a large amount of money up front and end up flat broke. The law also takes a dim view of these types of schemes and could get you in trouble with them. Working for a valid MLM company you will be rewarded financially for your hard work and sales you make to your customers.

Who stands to gain from multi level marketing? Although the number of fraudsters may make it seem intimidating, choosing a good MLM scheme can put you in a very good economic position. MLM schemes can provide a great way to start up in business for the first time, as overheads are low and it is not usually necessary to have a lot of business skills. You may be able to acquire skills while working as part of multi level marketing initiative which you can then transfer to other business interests. However, an MLM company will not do the work for you. You will only earn money in proportion to the effort you put in. Many MLM companies offer bonuses to particularly hard working employees. MLM schemes are great for highly motivated, committed individuals who want to make the best of their sales skills. With MLM, you do not need to worry about the logistics of managing products or services; you can just get out there and do what you are good at. Every business initiative carries some risks, and most can be avoided by using common sense and taking time to think over each individual contract. So do not be afraid to give MLM a try. It could be the right solution for you.

Sources:-

http://en.wikipedia.org/wiki/Multi-level_marketing

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