Are you looking for a home-based business? This could be a wise decision since there are countless advantages to having your own home-based business. Or it could be an unwise decision for you if you get caught up in one or more of the many, many scams out there. Before picking a business that seems right for you, you should at least know some basics.
Select a business according to your own special interests, abilities, time and finances.
As you pursue that dream of being your own boss, working from home, having more time and money, undoubtedly you will run across numerous MLM opportunities.
MLM, or multi-level marketing, also referred to as network marketing, offers the wonderful benefit of allowing you to develop a substantial residual income. Your income is based, not just on your own efforts, but also on the efforts of others. MLM is a people helping people business. The more you are able to help others succeed, the more successful you will be, too.
However, you will want to understand some basics about the company, its products, and its compensation plan, before you join.
With so many new people entering the world of wanting to work from home, it is not at all unusual for me to hear them ask, How do I get paid?
So be sure you know this important fact: a true, legitimate MLM company will pay you commissions only on the sale of its products or services!
You do not need to do all the selling by yourself. In fact, if you choose, you can simply be a user of your companys products. But you will need to enlist other people into your organization (your downline) who will also use or sell the products. The company will then pay you a certain percentage from the sales of all products in your downline. If you have only a few people in your downline, most likely your commission check will be very small. But, if you have some workers in your group, your own efforts can be multiplied many times over, helping you to build a large downline. Then you could be looking at some very lucrative commission checks.
There are several types of compensation plans used by MLM companies to pay commissions. It is not the scope of this article to go into detail on these compensation plans. But one point I would like to make is this: some MLM compensation plans require high sales quotas, making it necessary for you to be a good sales person in order to do well.
Other plans may use a type of matrix, which requires a much lower volume in order to be paid commissions. In my opinion, matrix plans are better suited for most people, who may not be great at retailing products.
Make no mistake about it, though, a home-based business, whether MLM or not, requires work and financial investment. In addition, it requires a great deal of self-discipline.