Mintzbergs Five Configurations of Strategic Management
The famous management expert, Henry Mintzberg, proposed a five configurations approach to strategic management wherein any organization can be broken down into five core elements or parts. The interactions between these parts determine the strategy of the organization. The five parts according to Mintzberg are: The Operating Core which consists of those doing the basic […]
The Art of Strategic Marketing: Market Learning, Sensing, and Intuiting
Market Learning The first step in strategic marketing is to learn from the market about the changing consumer preferences and attitudes. Firms typically employ market research agencies to conduct surveys and research reports about how consumers and their preferences goods and services over others are changing with the times. In other words, firms attempt to […]
Features of CRM
Customer Relationship Management is a strategy which is customized by an organization to manage and administrate its customers and vendors in an efficient manner for achieving excellence in business. It is primarily entangled with following features: Customers Needs- An organization can never assume what actually a customer needs. Hence it is extremely important to interview […]
Determinants of Customer Retention
According to the market evidences following are the main determinants of customer retention: Delivered quality of products and services versus customer expectation: The worthiness of a particular product or service does not depend on its own merits. It is only worth and useful if it meets all customers’ expectation. If the customer expectation is very […]
Media as an Instrument of Control vs. Media as an Agent of Change
Media as an Instrument of Control In many countries, the media is used by the government as an instrument of control and for propaganda purposes. For instance, the Chinese media is heavily controlled and censorship is direct and deep. In countries like the United States, though there is no explicit control, the media is expected […]
Who doesn’t like the thought of having a few extra bucks on hand ?. Most of us try to think of alternative methods besides our jobs and profession to earn some extra money in order to be able to realize our long cherished goals and wishes. This happens to most of us. While some who have an eye for numbers tend to gravitate towards stock markets, many think of taking up a second job and work more number of hours. Then there are those who take up MLM activity and concentrate on building a network based on their family, friends, contacts, colleagues and others.
Though there are several options that one can consider as additional or alternate employment, it is important to give each of the business ideas a thorough thought to see if it suits you in all respects and if you will be able to be successful in the same. After all everybody will not be suited to all types of business or sales and vice-e-versa.
It is quite likely that you will be invited to a meeting or one of your friends or acquaintances will drop in with an appointment to meet you and talk about the MLM opportunity.
A look at the marketing plan, selling concepts and the income generating scheme will leave you overwhelmed with so many questions. You will naturally wonder if MLM really works and if there is so much of money to be made as shown in the plan. You will wonder about the product and build up so many questions in your mind. You will also wonder if you can really make this work and last but not the least you will wonder as to what your friends and colleagues will think of you. At this point you are likely to be under slight pressure to sign up as a distributor as your sponsor would be following up with you. You are now required to take a decision. But then how do you go about making up your mind as to whether you want to start with MLM or not?.
If the above sounds familiar, there is no need to panic. Always remember that the opportunity to join the MLM network will always be available and there is no need for you to jump at it before being prepared and ready for it. If you do happen to take it up and find that you aren’t equipped to take it ahead, no issues. You will not lose anything because the business opportunity doesn’t cost you any investment.
The first point of consideration of joining an MLM network has got to be YOU. You will need to sit down and think through the entire proposal to see how you are best suited to take this up. Does it go along with your long term objectives that you have for yourself?. Do you have that kind of time and energy to focus on recruiting and building distributer networks consistently over a period of time?. Are you willing to make sacrifice of your time with your family, social activities as well as your personal time to invest into this business?. What about selling skills? Do you have good communication skills and do you like approaching known and unknown people and talking about MLM business network with them?. All these questions would have to be answered by you alone.
As the saying goes, No Pain No Gain. Therefore MLM can be a great opportunity for you to build an alternate income generation stream provided you have the energy, focus, skill set and attitude to work on this concept for a long period. It calls for balancing your life, your priorities and responsibilities along with having to take up and begin a new and additional career with MLM selling.
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Finding and Keeping Customers in Multi Level Marketing (MLM)
February 12, 2025
