More Things You Need To Know About MLM, Business Opportunities And Affiliate Programs!
by on November 16, 2009
in Articles, EZ Wealth Solution
The internet is FULL of MLM’s(Multi Level Marketing Companies), affiliate programs and business opportunities. Systems of that nature usually pay out REALLY low commissions. From my experience, you’ll want to promote a product or service that allows you to receive a HIGH commission on whatever it is your selling. I’m able to earn the money I do because I earn 100% on every sale I make. Now, this is not possible with MLM programs, binaries, matrices or even affiliate programs. Don’t get me wrong. A lot of money can be made online even if you aren’t earning 100%, but you’ll have to do LOTS of volume to bring in any serious money and most people simply don’t have enough marketing experience to generate high sales like Coca Cola for example. A typical commission payout is 5-20% with most MLM’s and business opportunities. From my experience, I could never make any real money from programs like that even if I made many sales. I now make in one day what I would make in 1-5 months from any given MLM.
Here is an example of what I’m getting at. I used to be with a popular MLM called GDI(Global Domains International). I personally referred 100’s of people to this company and had a downline in the hundreds. You may think that was enough to make some serious cash right? Wrong! I only earned $1 a month for every person that was in my downline. For all the work I did and money I spent on advertising, receiving a check in the mail for $150-$200 just didn’t sit right with me. I spent more on marketing and promoting than what I was earning. At $10 a month, GDI was a great entry level MLM and the fact that they paid out 10% was pretty good. 10% is actually a high commission payout for an MLM company, but as you can see in this example, I was working my butt off to make their company filthy rich!
You should also know that MLM not only requires that you do a lot of work, but you must also recruit people into your downline that will work just as hard as you. In my experience, I’ve found that out of 20 people you can recruit, only 1-2 will be good candidates for your business. This is why I don’t recommend MLM opportunities because you can waste a lot of time spinning your wheels only to recruit tire kickers(lazy people) into your downline.
You should promote something that will give you immediate access to your money. Most programs will make you wait at least one month before you receive a commission check. This was the case with GDI. This makes it very hard to self fund your business when you’re first starting out. By promoting a system that will give you immediate access to your money, you can put your earnings back into your business without having to pull out your Credit Card over and over as I had to do when I was with GDI.
You also should not promote anything that has a high payout threshold. From my experience, this is the most unethical thing any internet business can do. You see, most MLM businesses and affiliate programs do not want to give you a commission check as sad as it may sound. They can easily accomplish this by setting a high payout threshold by requiring you to earn $50-$100 or even more before they pay you any money. By doing this, the company is able to have many people promoting their service which may bring just a few sales for the people doing the promoting, but this will add up to many sales for the company. This is how MLM’s get a bad name. I’m sure you’ve heard the term, “Only the guys at the top make the real money.” Since most people will never reach the payout threshold in a timely manner, they’ll eventually quit without receiving one penny after doing a lot of hard work. So the company ends up keeping all of those unclaimed commissions.
It’s really up to you what you sell or promote, but like I said, from my experience, you won’t make any big money unless you’re marketing something that pays out 100% on what you earn.
You can sell affiliate products, but you’ll never earn 100% on sales and you’ll never get immediate access to your money. You’ll also need to know how to create splash pages if you want to promote affiliate products through networks such as Clickbank which can be a nightmare if you’re new to internet marketing.
I basically own my business outright. I own every product that I sell and I only have to pay a small admin fee of $10/month, but I’m able to earn $47, $97, $247, $497 and $997 instant cash payments by selling digital software products online. I also don’t have to share the profits with anyone which is really cool!
Taking the FREE TOUR will allow you to see the full power of this system.
Look deeper into your compensation plan and you’ll know what your company owners think you’re worth. Are you worth 5-10% or 100%?
The choice is yours!
Take care,
Sean Grimes
EZ Wealth Solution Success Coach
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