MLM Business Plan - The Most Critical Part Of The Equation and 97% Fail To Do it.

The majority of people who join MLM do so out of emotion, which is either stress for money or excitement for the riches they are promised by their upline, that leads to involve people in this industry who have no business skills and knowledge whatsoever, and have no idea what to do first in their business, which causes to a great failure rate in this industry. Therefore, in the following sentences I’m going to discover the first key element to success which is a “clear business plan”. But not to waste your time, I’ll keep it short and to the point.

I have to stress out here that MLM or Network Marketing will only make you money if you consider it as a real business, and manage it with the mindset of as if you would have had to invest in it $50,000 to start. That will help you determine what you should and shouldn’t do for your business. With that being said let’s jump in to some of the key elements of a well planned business plan.

1) The first thing to define is “the product or service” which we call the “what”, meaning what is the value you will be providing to society. Think about it deeply and write out the key points of what of value you will be selling and offering your customers. In the MLM and Network Marketing industry there is 2 parts you have to think of, #1 is the product or service you’ll be offering and #2 is the business opportunity that will make them money on the internet. So take your time to clarify that and then continue on.

2) The next thing to take in account is your “target market” which we call the “who”, that’s simply who do you want to sell to? of coarse you want to sell to everyone… right? But in business we know the rule that you can’t win them all. So instead of wasting your precious time and energy on trying to sell to people who are not interested in what you have to sell, try to figure who are the people that do want what you offer and put up your efforts in selling to them. So now it’s time to create a list of people types who you would want to do business with and who wants to do business with you. In the MLM industry you can think of existing MLMers or people struggling in business etc.

3) In conjunction to the “who” we discussed, you need to add a “why” to get specific why that person should be the one to do business with, what separates them from the general public. For example: you want to go after real estate people, because the real estate market is very slow so these people are looking for a new or another income stream etc. So, get creative and make a list of as many why’s you can think of, this will help you a lot later on.

4) Next on, determine your “competition” and learn a lot about them. you need to have a clear picture what separates your company, product, and or service from the competition. You can always find pro’s and con’s on every company, no company is 100% perfect. So be specific at that and put together as many benefits your company has against the competition.

We covered so far, “what”, “who”, “why” and “competition”. I’ll stop this segment here and in the next segment I’ll discuss the “how”, “expenses vs. revenue”, “marketing”, and more. So stay tuned.