MLM Products - What Role Do Your MLM Products Play When it Comes to Creating Residual Income?
An ever increasing variety of MLM products is available on the market, many of which are truly awesome, however not all of these are capable of supporting you in your quest to create residual income.
Let me share with you exactly how your company's products may impact on your long term success and secondly I'll also tell you what the one essential criteria is that must be fulfilled by these products to ensure that you achieve this goal.
So what is residual income first of all? Put simply it means being able to sip on cocktails on the French Riviera or do whatever else it is you might choose, while your business pumps dollars into your bank account in your absence.
Residual income can only come about if your company provides for this in their MLM compensation plan.
If they don't, what are you still doing there? The plan can't do this on it's own however, you have to make ti work.
You do this by establishing your organization to a required size and by having enough of your team continue to be active business builders.
The fact of the matter is this is challenging to achieve because the drop out rate in this industry is so high.
You will be fortunate if 3% of your total team is active and successful at any one time.
In this industry people frequently give up very hastily for one or more of the following reasons: They run out of leads, go broke, have no decent system to use and no effective leadership as an example to follow.
All of these could be solved dependent on whether you were able keep people in your business long enough to teach them but this does not usually happen.
They opt out because they don't believe they are getting sufficient value from the company to warrant their staying there till they are successful.
The company MLM products is often the one place where value is first and mostly evaluated.
What tips their decision is having to buy $200's worth of auto ship every month without knowing whether the products are definitely adding any value to their lives while continuing to be unsuccessful in their business.
You can be pretty certain their plan had been for their business to fund the products.
Frequently, new business owners can't really afford the products anyway.
If they thought differently about these, they would not cancel their auto ship the moment they decided to leave the business.
So holding on to more of your people so you can teach them to become successful in business is reliant on them knowing without a doubt that what they are getting offers more value than they could find elsewhere at the same price.
If they can buy a bottle of XYZ juice for less elsewhere and they are no more certain about it's value, then they will go where it is cheaper.
Your MLM products must not only be unique, have mass appeal and be well priced, but the perceived value of the products has to be far more than the price tag and all the better if the value can be proved in some way.
So by way of an extreme example if your juice sold for $20, had a perceived value of $100 and the results were able to be verified, you would have a product of immense value to offer others.
How do your company MLM products measure up on the value scale? Regardless of how aggressive an MLM lead generation program you have in place, the more value these offer, the more likely you will be to hang on to your distributors for longer and so coach them to their own and your long term success.
Let me share with you exactly how your company's products may impact on your long term success and secondly I'll also tell you what the one essential criteria is that must be fulfilled by these products to ensure that you achieve this goal.
So what is residual income first of all? Put simply it means being able to sip on cocktails on the French Riviera or do whatever else it is you might choose, while your business pumps dollars into your bank account in your absence.
Residual income can only come about if your company provides for this in their MLM compensation plan.
If they don't, what are you still doing there? The plan can't do this on it's own however, you have to make ti work.
You do this by establishing your organization to a required size and by having enough of your team continue to be active business builders.
The fact of the matter is this is challenging to achieve because the drop out rate in this industry is so high.
You will be fortunate if 3% of your total team is active and successful at any one time.
In this industry people frequently give up very hastily for one or more of the following reasons: They run out of leads, go broke, have no decent system to use and no effective leadership as an example to follow.
All of these could be solved dependent on whether you were able keep people in your business long enough to teach them but this does not usually happen.
They opt out because they don't believe they are getting sufficient value from the company to warrant their staying there till they are successful.
The company MLM products is often the one place where value is first and mostly evaluated.
What tips their decision is having to buy $200's worth of auto ship every month without knowing whether the products are definitely adding any value to their lives while continuing to be unsuccessful in their business.
You can be pretty certain their plan had been for their business to fund the products.
Frequently, new business owners can't really afford the products anyway.
If they thought differently about these, they would not cancel their auto ship the moment they decided to leave the business.
So holding on to more of your people so you can teach them to become successful in business is reliant on them knowing without a doubt that what they are getting offers more value than they could find elsewhere at the same price.
If they can buy a bottle of XYZ juice for less elsewhere and they are no more certain about it's value, then they will go where it is cheaper.
Your MLM products must not only be unique, have mass appeal and be well priced, but the perceived value of the products has to be far more than the price tag and all the better if the value can be proved in some way.
So by way of an extreme example if your juice sold for $20, had a perceived value of $100 and the results were able to be verified, you would have a product of immense value to offer others.
How do your company MLM products measure up on the value scale? Regardless of how aggressive an MLM lead generation program you have in place, the more value these offer, the more likely you will be to hang on to your distributors for longer and so coach them to their own and your long term success.
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