Last Updated on February 13, 2022 by Matt Zavadil
How to make money with network marketing?
The question of our time!
Multi-level marketing (MLM) can be a great way to make money, but it’s not easy.
It takes a lot of hard work and dedication to become successful.
That’s one reason why earning a full-time income with network marketing is a dream for many people.
But, it can be a reality if you know how to do it correctly.
In this article, I’ll teach you how to make money with MLM so that you can achieve your financial goals.
I’ll also provide some helpful tips for those who are just starting in a multi-level marketing (MLM) business.
So, whether you’re a beginner or an experienced marketer, this article has something for you.
What is MLM and How Does It Work?
Multilevel marketing (MLM) is a type of business where you sell products or services through a network of distributors.
This type of business has been around for many years and it’s become increasingly popular in recent times.
MLMs can be a great way to earn money, but there are some important things you need to know before getting involved.
In this section, I’ll explain what MLM is and how it works.
What’s the Difference Between MLM & Pyramid Schemes?
There’s a big difference between multi-level marketing (MLM) and pyramid schemes.
With an MLM, you’re selling legitimate products or services through a network of distributors.
With a pyramid scheme, you’re only selling your distributor position to other people.
99% of all MLM companies are reputable, legal organizations selling products that help solve real problems for customers.
Why Do 95% Of Networkers Struggle To Make $500/mo?
It’s not easy to earn money with MLM.
95% of all networkers struggle to make $500/month.
That’s because it takes a lot of hard work and dedication to become successful in this business.
Most people who join an MLM don’t have the right mindset or they give up too quickly.
That’s why I always recommend that you focus on developing the right mindset before doing anything else.
- 20% of all small businesses fail in Year 1
- 50% fail in Year 2
- 67% fail in Year 10
That’s straight from the Small Business Administration (SBA)
MOST businesses fail.
So, all the schmucks online yelling and screaming about how network marketing is a pyramid scheme and scam, I guess they should start yelling and screaming about how every business opportunity must get shut down.
Let’s shut down the ability to build the following businesses:
- Flower shops
- Online course sellers
- Car repair shops
- SaaS (Sofware as a Service) companies
- Online coaching services
- eCommerce websites
Hell, 67% of them will fail so we might as all give up!
Sorry, but I have no patience for these negative people and I’ll never apologize for my entrepreneurial spirit, drive, and toughness.
Why Do 50% Of MLM Distributors Drop Out Of MLM Quickly?
50% of all distributors in an MLM company will quit within the first year or so.
It’s usually because they’re not seeing any results and they get discouraged.
Others may find that the business isn’t a good fit for them.
Whatever the reason, it’s important to remember that not everyone will make it in this business.
The people who say they want to build a six-figure business and quit the moment it gets hard?
The truth isn’t that MLM companies are selling a scam. The truth is that most people shouldn’t try becoming entrepreneurs.
See, MLM isn’t a job.
You don’t trade time for money.
Instead, you increase your skills until you’re worthy of getting paid as an independent salesperson and marketing expert.
Do People Lose Money in Network Marketing?
Of course, they do.
To suggest otherwise would be silly.
It’s the so-called reasons they lose money that some folks try to push down our throats that are silly.
The truth is, there are risks involved in any type of business venture. But, if you do your homework and take action, you can minimize those risks and make money with MLM.
The risk is how much you’re willing to invest in yourself, how much time and effort you’re willing to put into building your business.
Are MLM Recruits Being Sold a Disgusting Lie?
I read some women’s blog and this was one of her headlines: MLM recruits are told a disgusting lie.
She seems to think that someone promises every MLM rep that they’ll earn money in network marketing fast and easy, be sipping drinks on the island they bought in 6 months, and it’s all easy-peasy.
No one’s being sold a lie.
The lie exists in the minds of the people who think they will join network marketing companies, put in 3 hours a week, and get rich.
I’ve coached these dreamers.
And, yes, it’s a lie.
It’s just that it’s a lie sold within the soul of the person who believes that “get rich quick” is real.
You gotta work hard to make it in any business, whether it’s inside MLM companies or selling online courses, being an affiliate marketer, selling software, or building a local business.
You better bust your butt, or else.
And, if you don’t make it?
So many factors are at play:
- Are your competitors simply better than you?
- Did you fail to recognize your skill weaknesses?
- Did you get better once you recognized your skill deficiencies?
- Did you quit too soon?
The Benefits of Network Marketing
Alrighty, now you know what I think about network marketing and pyramid scheme nonsense LOL
Let’s get positive and start talking about the benefits of network marketing, as well as how you can earn a solid income with direct selling.
Here are the main benefits of multilevel marketing.
You’re in Control
When you work for someone else, you’re at their mercy.
If they decide to let you go, or they close down the business, you’re out of luck.
But, when you have your own network marketing business, you’re in control.
You can earn money when you want and how you want. You call the shots.
There’s No Limit to Your Income Potential
Unlike a job where your income is capped based on minimum wage amounts, there’s no limit to how much money you can make in MLM.
It all depends on how hard you work and how successful you become.
You Can Work from Home
One of the best things about having your own MLM business is that you can work from home.
You don’t have to deal with a boss, an office setting, or commuting to work every day.
This means more time with your family and no babysitter costs!
A Steady Stream of Passive Income
When you build your network marketing business the right way, you’ll be able to make money while you sleep (passive income).
One of the reasons why I love this type of online business so much is because once you set up an online MLM funnel correctly, it will bring in passive income month after month without much maintenance on my part.
It’s how I’m able to earn money even when I’m traveling or taking time off from work.
You Can Earn Money Without Going Into Debt
If you start a local business, there’s always the risk of debt. Most small businesses fail within the first few years because they don’t make enough money to pay off their debts and expenses.
But with network marketing companies, it doesn’t cost much to get started (usually around $100). That means that there’s little financial risk when you decide how to make money with multi-level marketing on your own terms.
And if things don’t work out? You can walk away without having lost too much cash.
A Good Fit for Stay at Home Moms
MLM is an excellent way for moms who want to work from home and make money with network marketing.
It’s a great fit for stay-at-home dad-preneurs, too.
You can decide how much time you want to spend on your business, how much you want to earn, how many hours per day or week that you’d like to work (part-time vs full-time), etc. It’s totally up to you!
And what else?
Moms and Dads can even juggle their MLM side hustle while they take care of the kids.
They don’t have any added expenses of childcare or other costs they face in traditional employment situations.
The Downside of Network Marketing
Now you know how great network marketing can be. Let’s talk again about the downside.
The main reason people don’t make money with MLM is that they give up too soon or they’re not willing to put in the hard work required.
It takes a lot of time and effort to build a successful business, especially if you’re starting from scratch.
You need to learn how to market your products or services effectively and create a system that will bring in new customers consistently.
You also need to be able to generate MLM leads (people who are interested in what you have to offer) and convert them into paying customers.
This is not an overnight process!
It takes time, patience, and a lot of hard work.
But if you’re willing to put in the effort, network marketing can be a very lucrative way to make money from home.
Tips for Making Money With Network Marketing
The best way to make money with MLM is by following these simple tips.
Set goals for how much money you’d like to make and how many hours per week or month that you’ll work on your side hustle.
Do this before you sign up with an MLM company so that you know you’re dedicated to seeing this through.
Pick a niche that interests you.
The more passionate you are about it, the easier it will be to market yourself as an expert and find success in multi-level marketing.
Don’t pick something just because it’s popular (like weight loss products). Pick something that really excites you personally and makes sense financially too.
How to Succeed in Multilevel Marketing
Once you’ve sifted through all the available network marketing companies, found a product you’re passionate about selling and are ready to win inside the direct sales industry…
…it’s time to get busy becoming a person deserving of becoming one of the master MLM sellers.
The only MLM participants who avoid losing money inside a network marketing company are those people who learn how to win at direct sales.
Increase Your Multilevel Marketing MLM Industry Skills
Winning inside the MLM industry is all about becoming more skilled at sales and marketing.
You will be more successful in your direct sales or multilevel marketing business if you are skilled at selling, organizing, and leading people. You must know how to recruit new MLM team members and how to sell network marketing products effectively too.
The only way to get better at these things is by turning yourself into a lifelong learner. The most successful entrepreneurs are always learning how to do everything inside their businesses just a little bit better than they did yesterday.
Winners Inside Network Marketing Companies Improve Daily
Want the best chance of becoming one of the winning MLM participants inside the direct selling industry?
Then, take some time each day for self-education about how to make money with multilevel marketing companies.
Read great books like Think and Grow Rich, The Millionaire Fastlane, and The E-Myth Revisited.
Listen to podcasts like The School of Greatness, Ziglar Show, and Entrepreneur On Fire.
Watch videos on YouTube related to how to earn income with network marketing.
Attend live training events and webinars where you can learn from some of the best in the business how to succeed with MLM.
Take a tax course so you know how to take business expenses legally.
Take a Sales Training Course
Take a sales training course that will teach you how to sell your products and how to recruit new MLM team members.
Take an Online Marketing Course
Take an online marketing course that will teach you how to market your products or business opportunity effectively.
Learn how to write copy so that people will be interested in what you have to say about the MLM business model.
Get Better as a Leader
Become a better leader by reading books on leadership skills, taking courses in leadership development, and attending live training events where leaders inside multilevel marketing companies share their success tips.
The more information you gather about how to earn money with an MLM company, the better your chances will be for success.
You don’t need a college degree to be successful in network marketing.
Unlike the vast majority of people who won’t commit to what it takes for financial success, you need to remain willing to learn and work hard.
With the right training and education, you can become one of the success stories with the MLM business model.
Bottom Line: How To Make Money With Network Marketing
This is not an overnight process.
It takes time, patience, and a lot of hard work.
But if you’re willing to put in the effort within your everyday life, selling MLM products, maximizing compensation plans, and adding a new potential customer daily, you can make a sufficient income with the same MLM company for decades.
Use network marketing to become self-employed, get rid of a “real job”, and make more money through your company’s compensation plan.