Good question. Lots of answers.
Group 1.
You can simply participate in MLM just to save money
on your personal purchases. Buying products and services at wholesale prices
makes sense. Buying product and services at retail won’t make you rich. In
fact, if everyone knew they could purchase at the wholesale price, just for
becoming a distributor, why wouldn’t everybody already be an MLM
distributor? Because they don’t know. Become one of the smart consumers.
Save money. Become an MLM distributor and purchase at the distributor
wholesale price.
Group 2.
Most people want a little more out of life. They want
another car, a newer car, a different house, more vacations, and extra money
for bills, retirement, or the fun activities available to people with
available cash. You can have this extra money by working part-time in your
own MLM business.
How much extra part-time income can you expect? Do you
want $500 extra per month? $1,500 extra per month? Or, $5,000 extra per
month? You be the judge. It depends on the time you are willing to invest,
and your skill.
Let’s look at your time. Everyone has 24 hours in a
day. Some people complain, "I don’t have time for anything!" That’s not
true. These people have the same 24 hours a day that you do. The secret is
how people choose to allocate their time.
If you allocate eight hours a day for cable TV, you
won’t have time to build your part-time business. If you allocate four
nights a week to bowling, your available time will diminish.
Time is one-half the formula for your MLM success. The
more time you can devote to your business, the more money you’ll make. Some
people allocate 3-5 hours a week to their business, others spend 10-12 hours
a week. It’s your decision how much time you can invest in building a
permanent part-time income.
The other half of your formula calls for skill.
Skill can be learned. When you join, you will have several mentors who
can help you learn and improve your skills. Your sponsor, your sponsor’s
sponsor, and other upline leaders have a financial stake in your future. The
more you are successful, the more they are successful. You’re on the same
team. Use your team members to help you succeed.
Your part-time business requires sweat equity (time
and training). You’re not risking thousands of dollars on a franchise or
business, but you can still get the rewards. Maybe you build your business
to $300 a month and feel comfortable. Would $300 a month make a difference
in your lifestyle? It sure could.
The $50 Payoff
I know of one instance where a $50 monthly bonus check
made all the difference in the world for one distributor. I had lunch with
the young man several years ago. He was a vegetable farmer from Missouri.
When his $50 bonus check arrived in the mail, he was so excited he couldn’t
stop talking about it. I couldn’t figure out why, so I asked him, "Why all
this excitement over a $50 bonus check?"
He answered,
"You see, I’m a vegetable farmer. After all my
expenses, I end up with about $5 a month that I can call my own. That’s it.
Just $5. Well, I got this $50 bonus check, and that’s 10 times more spending
money that I usually have. I can take the family to a movie, have dinner
out, or a dozen different choices I never had before."
He got me thinking. If your regular job pays all your
day-to-day expenses, then any bonus check your receive for your part-time
business is "fun money." It’s not spoken for. So, if you have an extra $500
bonus check a month, WOW! You could use it to make payments on a brand new
car. Or, get a larger house. Or, take a cruise every two or three months.
Set up an investment program and retire early. Or, ???? Hmmm. Extra money
really means more once your everyday expenses are covered by your salary.
The $100,000 Problem
Sometimes the part-time bonus checks even exceed your
full-time salary. My good friend, Tom, had a problem.
His regular job earned him $50,000 a year. After
working his MLM business part-time for three years, his part-time MLM bonus
income neared $100,000 a year. Now, I wouldn’t think he had a problem, but
he came to me with a worried face and said,
"Tom, I’m just getting too busy. I’m afraid I
won’t be able to service both my job and my part-time business fairly,
unless I give up one of them. I like giving good service and doing things
first class."
Well, my friend had good MLM skills, his part-time
income certainly was the exceptional, but I really questioned his
business sense.
I said, "If you are making twice as much part-time in
MLM as your full-time salary, I think it would make sense to quit your
full-time job and enjoy your $100,000 part-time income."
He agreed. Now his part-time MLM income continues to
increase and he has time to work out at the gym, spend time with his family,
visit friends on the telephone, travel, and yes, he still fits in his MLM
business. While he may have been confused originally on which career to give
up, it does prove that you don’t have to be a nuclear scientist to build
large incomes in MLM.
Another friend, Bob, used a conservative investment
strategy to build a fortune from a relatively modest MLM monthly bonus check
of only $500.
How did he do it?
He said to himself, "My monthly job earnings pays all
my bills, so I’ll just use the extra $500 a month to pay off my house
mortgage faster. In only four years time his house was completely paid off.
Now, he had an extra $1,000 a month free because there were no more mortgage
payments, and the additional $500 a month MLM bonus check. With the $1,500
total free monthly spendable cash, where should he invest it?
Bob purchased the house next door. The tenants’ rent
payment paid the monthly mortgage. Bob invested the extra $1,500 of his
monthly cash flow to accelerate his mortgage repayment schedule. In about
five years, the house next door was completely debt free.
Now Bob’s financial picture looked like this. His
regular job paid all his living expenses, plus he had $1,000 a month free
because he had no mortgage on his personal residence. Rental income from the
house next door added an additional $1,000 of monthly cash flow. And, Bob’s
bonus check still averaged and extra $500 a month. So what did Bob do with
his extra $2,500 in extra cash flow?
He purchased another house down the street. The
tenants’ rent paid the monthly mortgage plus Bob added an additional $2,500
a month in principal reduction.
Soon Bob’s financial picture looked like this. His
regular job paid all his living expenses, plus he had $1,000 a month free
because he had no mortgage on his personal residence. Rental income from the
house next door added an additional $1,000 of monthly cash flow. Rental
income from the house down the street added an additional $1,000 of monthly
cash flow. And, Bob’s bonus check still averaged and extra $500 a month. So
what did Bob do with his extra $3,500 in extra cash flow?
Well, you get the picture. Bob never earned more than
an average $500 bonus check, yet now, he is financially secure. Even if Bob
were to lose his job and his MLM company go out of business, his monthly
rental collections would support him nicely. As of today, his monthly net
income is over $5,000 from rental payments alone.
Group 3.
Finally, there is a full-time career in MLM. It takes
time, you have to develop and learn the skills, and it probably won’t happen
overnight. In fact, some people with great part-time MLM incomes never quit
their jobs because they love their jobs. They love what they do. The extra
money from their part-time income guarantees they will always have choices.
Their choices.
However, many people jump at the chance to leverage
their MLM incomes even higher by making MLM their full-time career. What
incomes do these experienced, skilled, full-time professionals make? A lot.
If you pay your dues, you should expect to be rewarded. Many times you’ll
hear of certain MLM professionals earning unbelievable incomes of six
figures a month. Well, these people are the exception. The real full-time
success stories in MLM are those leaders who have time with their families,
time for their church, time for their hobbies, and time for whatever they
desire because they receive a four or five figure monthly MLM bonus check
and now have the time to enjoy it.
So, how much can you make in MLM?
It’s entirely up to you.
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Tom "Big Al" Schreiter is a seasoned marketer and professional recruiter. You
can subscribe to Big Al's Recruiting Newsletter at
http://www.fortunenow.com