Multilevel Marketing (MLM) has made many people wealthy. This is because it has long since been established as a reliable method for selling products or services. Of course, the percentage one earns from sales generated by members on the downline adds to the "bounty".
However, in order for this method to succeed, all of its components need to be in place. One such component is the compilation of an effective list of individuals who take part in the network. Without a reliable method of lead and MLM list, no MLM network will succeed.
Thankfully, there are a number of tried and true methods to build those lists and leads. One of the best ways is the concept of the funded proposal.
In general, most people do not follow this relatively new concept.
Instead, they opt to utilize personal contact method to build up their networks. This basically means you approach someone to join the network. You then hope the people you sign up will sign other people up and expand your network.
While this is the most common way to build a network, it is actually the way how to NOT go about building a network. That's because this weak strategy has a massive failure rate. It just is not a great way to build a list. Instead, it is best to look for a more proactive and successful method of building a list. A funded proposal is such a method.
A funded proposal is a very simple concept. What a funded proposal entails is enacting a marketing program that earns revenues in order to recoup any advertising costs.
This allows you to acquire new members while simultaneously promoting your primary business in a manner that pays for itself. This is a very good system to utilize because it reduces the chances of losing money while promoting your MLM business.
Remember, not everyone in your network will turn out to be a producer. With a funded proposal, you will not lose money on recruiting such a person since such an individual will be covered under the revenue generated by the proposal. This greatly enhances the quality of your leads and list.
There are a number of ways a funded proposal can be enacted.
Something as simple as selling a prospective member an inexpensive Ebook is common. It is not very difficult to produce an Ebook and most people would be willing to part with a nominal fee for resource material that will help them earn an income. More elaborate (and costly) could be a training program that comes with a fee.
Again, by charging these fees a MLM market will recoup recruitment costs. Then, there is another very important benefit to this. Namely, only serious people will be willing to spend money to join your network. By eliminating those who may not be serious, you will raise the odds that you are recruiting people who will deliver revenue to your network. This is no minor point. The network is only as good as its members.
Yes, Multilevel Marketing can turn out to be a tremendous revenue generator for motivated entrepreneurs. By adding the concept of a funded proposal to the mix, those odds of success increase and they do so with less operating expense.
Aaron Alexandra Ngoh Kwong Meng is an expert online marketer and owner of the site worldsponsoringacademy.com/blog. The World Sponsoring Academy helps the Network Marketing/MLM pro to find, get, keep, and grow their downline by helping them to execute effective marketing and selling systems. If you want to succeed in network marketing,download your free book on how to use the Internet to double or triple the size of your organization within the next 30 days. Aaron has 10 copies to give away;click below for instant access