Alright let's chat all about MLM's! Whither you are thinking of joining a MLM, you are currently in one OR you have nothing to do with MLM's, this podcast episode is for you!
So let's start out with what is an MLM. An MLM is a Multi Level Marketing business. A business where you make money by recruiting people under you.
Now let's get one things straight, I have no problem with MLM's, in fact I've been in a few of them and have really loved it. Today's podcast episode is all about: what I love and didn't love about MLM's, what I currently use in my business today that I learned from my time having an MLM business AND what I would do differently if I were going to join an MLM business.
WHAT I LOVED:
The products! Seriously the two companies that I joined I absolutely LOVED the products and I still use them today.
The sisterhood and community that came with joining an MLM team.
That my upline taught me the importance of self-developement which opened a WHOLE new world to me.
And last I loved making my own money.
WHAT I DIDN'T LOVE:
The lack of business training. I felt so lost, didn't understand business and there were no great business training material. I just did what my upline did.
The DM strategy. AKA copy and paste the same message and send it to your facebook friend list. Please, don't do this.
All of my financial eggs were in the MLM's basket not mine. If the MLM went under, there went my income. If they changed commissions then there goes my income.
WHAT I'VE TAKEN AWAY AND USE CURRENTLY IN MY BUSINESS:
My MLM companies always told us to "Be the result of the product" and I LOVED that! I became a walking testimonial that the products worked and I use this moto in my business today. I am a walking testimonial that multiple revenue streams work, that online businesses work and I talk about this and teach it on my podcast and The Revenue Party Course.
Have a Success Partner aka accountability partner. My success partner that I had back in my MLM days is my same partner today and she's AMAZING!!! She helps me see things in my business that I miss and she helps me stay accountable to my goals and vice versa.
Personal Development. Before joining the MLM the most personal development I did was scripture reading. Now I've also added podcasts and books that help me with my money mindset, business, marketing and more. Seriously read or listen to some personal development at least for 10 mins a day, it will change your life!
Last is community! We as mamas and women need community. So I strive to have community in my course groups, membership site, podcast and instagram.
HOW I WOULD BUILD MY MLM BUSINESS KNOWING WHAT I KNOW NOW:
First we need to talk about a statistic. Not to discourage you, but to help you understand why this strategy is so important, and it is this: 90% of people who join MLM's loose their money.
So, how I would build my MLM business is by playing the LONG game & Build MY business.
So what this looks like is this: Let's say that the MLM business you want to join is a makeup company. I want you to build your business like any business builds a business.
Build your email list. You can create like a fun 5 minute makeup routine video or PDF in exchange for peoples emails. If you wand to learn more about building your list then you'll want to dive into Episode 32.
Create a blog talking about your favorite things like makeup, hair, fashion, mommy life etc. In your blog talk about your favorite products (outside of the makeup MLM) and use affiliate links or sponsored ads and get paid from different companies.
Create an online course that teaches women how to do makeup. You can totally use the MLM makeup products to teach the class and so you would be getting paid for both our course and possibly the products as well!
Basically, I want you to build YOUR business and have the MLM products just be an asset for your business.
Not the other way around where you build the MLM business and YOU are the asset.
The Revenue Party Course - A course teaching you how to build courses and membership sites
Flodesk - The BEST email service provider
P.S. Are you subscribed to my podcast? If not, go subscribe HERE! I don't want you to miss out! I’m adding a bunch of bonus episodes to the mix and you might miss them if you are not subscribed.
You are confident, successful and have so much potential. You got this, girl!