As many of you know, I run several businesses that I've started over the years. I love being an entrepreneur because it allows me to stay at home (for the most part).
One type of business that I've been curious about is starting a network marketing company. MLM companies can be a highly profitable because of the residual income that the different levels sales. MLM businesses can sell anything from flowers to Internet marketing tools.
Starting this type of business doesn't have to be hard.
Decide what type of product you want to sell
Check out different distributors to see what would be the most profitable product to sell and what you would be interested in dealing with.
Set a retail price for your products.
You need a profit margin high enough so that your distributors can get 20-40 percent on their purchases. Look around for companies that have Network Marketing Software and consulting.
Invest in a website
Hire a web designer to put together a website for your MLM company. There are many design sites that do this, like this San Francisco Web Development site. You will need a MLM specialist to do your MLM team websites as well.
Advertise
The last step is getting your business out there. Plan a budget for advertising and use free resources as well.
Soon, your MLM business will be up and running and you will be enjoying your residual income for years to come!
Wednesday, February 9, 2011
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2 comments:
I have been flirting with the idea of starting my own business for a while..While I like working, I really wish I had the flexibility to attend more school functions, or even pick up my kids from school. My problem is I can't give up my full time income unless I know I can replace it. MLM businesses have such bad rep (at least with the people I know) - and that makes me a little nervous. Maybe I should do some research - thanks for putting the seed out there. :)
~Heather @ www.dorilukedesigns.com
My last post: The calmed closet reveal
I tried for 2 yrs and I just couldn't make it work. I have a friend who does it and she works SO SO hard, not just home parties, but lots and lots of fundraising - anything to keep her name out there. I closed up when I was doing taxes and saw how much we spent and I had nothing to show for it. Donald trump is in MLM now, and I really want to see if that biz works over the long term. Avon & Amway are still around so it's working for some lucky ones!
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