Tag Archives: Starting A New Business

Is MLM a Real Business?

The short answer…YES!!  There have been many, many people who have become millionaires working an MLM business.

If you aren’t sure what MLM is, read my earlier post here.

The longer answer for those of you who don’t want to just take my word for it ;-)

An MLM business and a traditional “brick & mortar” business are very similar and very different.  They are both “real” businesses.  However, one is easier to start and can be worked from wherever you are and the other is harder to start and has to be worked from a physical location.  Obviously MLM is the one where you do not have to be in a physical location to work it.  I know a woman who was homeless and started an MLM business.  She is now a multi millionaire.

Let’s look at this one at a time. 

 

First – Traditional (brick & mortar) business:

  • According to the Small Business Administration, the average cost of starting a new business from scratch is just over $30,000.
  • You (business owner) are basically on your own figuring out your business model unless you start a franchise.   (The average cost of starting a franchise is around $100,000)
  • You need to lease or buy an actual building
  • You will most likely need to hire employees
  • The average owner of a traditional business works at least 60 hours per week
  • Experts estimate that 50 to 80 percent of all new traditional businesses do not make a profit for the first 5 years.
  • A traditional business takes money, time and effort to build

 

Next – MLM business:

  • The average MLM business start up costs are $500 or less
  • You are in business for yourself, but not BY yourself.  There is a whole team of people to help you.
  • You work your business from wherever you live
  • You do not need to hire employees.  You will need to look for business partners.
  • The average MLM business owner works 20 or less hours per week.
  • You can begin making a profit within a month or two with MLM
  • An MLM business takes money, time and effort to build.  If you have more time than money, then you can spend that time instead of spending more money.

 

In conclusion…YES…YES…YES…MLM is a real business.

Starting a New Business

For those of you who don’t know, I’ve been a business coach since 2009 teaching entrepreneurs how to market their business online using social spaces.

Prior to that, I spent about 10 years building a home based network marketing business.  Well…about 7 to 8 years were spent in a trial and error phase learning what works and what doesn’t and about 2 to 3 years were actually spent building a business.

I decided that I wanted to help more people and follow my passion of teaching, so I left my business to teach others what I had learned.  I’ve been having a great time doing that, however, I’m seeing the people that I’ve coached have success in their business and I feel that I’m leaving money on the table.

With that said, I have decided to join a company called Forever Living.

The first question I will probably get is “Why Forever Living?”  Here’s what I saw:

Great products at reasonable prices
Once you qualify for a certain pay level, you never have to re-qualify
I can sell products to someone without making them join the business
Worldwide distribution facilities
I absolutely LOVE LOVE LOVE aloe and they have aloe!!
They have been in business since 1978 so obviously they are doing something right

These are just a few reasons why I chose Forever Living as my new “home”.