7 key considerations you must know before starting your own multi level marketing business
DESCRIPTION
we are outlining 7 incredible tips intended to see you succeed in your MLM venture.TRANSCRIPT
7 KEY CONSIDERATIONSYOU MUST KNOWBEFORE STARTINGYOUR OWN MLM
BUSINESS
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Introduction
Do Your Research
Choosing The Product or Services
Financing
Create A Winning Team
Taking Care Of Legal Aspects
Compensation/Commission Plan
Training and Rewards and
Recognition
KEY PRESENTATIONFEATURESWHAT WE WILL COVER TODAY
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Planning is the most important aspect for any
business; MLM Marketing
is no different. Even though you have a
fabulous plan, you should desist from
falling in love with your plan blindly.
INTRODUCTION
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MLMSoftware
Here are the 7 key considerations you needto know before starting off.
These considerations are intended to give youa reality check before you make
investments.
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INDUSTRYEXPERIENCE
1: DO YOUR RESEARCH
Analyse the market of your chosen
products and services by checking on the
competitors and their strategies.
Use the success strategies of the
competitors.
Do demand analysis of the product in the
market(s) where you would be launching
your company.
Check the attractiveness/uniqueness of
your business in those territories. Use
services of market research companies, if
required.
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Know your target audience well so that your
product/services could fulfil those demands in
the targeted market.
Your product should answer these 3W’s - WHAT,
WHY, and WHEN, that is what to launch, why to
go for this product (is there any demand or you
will need to create demand) and when to
launch it (timing/seasonality, if any).
Never compromise on quality
2: CHOOSING THE PRODUCT OR SERVICES
You should be ready with a detailed project
report.
Avoid online services, use services of a CA
instead.
Discuss all the PROs and CONs with the CA.
Ensure one year financing that’s transparent &
legal.
Remember to include all costs, including
office and staff, travel, training among others.
TIP: You can opt for a co-working space instead
of renting own office. You will save loads of
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3: FINANCING
INDUSTRYEXPERIENCE
4: CREATE A WINNING TEAM
Just like any other business, MLM is a
serious business that requires hard work,
perseverance and patience.
You should lead by example by attending
as many meetings and conferences as
possible so people can follow you &
replicate success.
Pack your days as much as possible, slog
hard to motivate people around you.
You will go far if you create winners
everywhere.
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TIP: If you are unwilling to slog, you are bound to flop. MLM business
needs people who could lead from front.
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Legal compliance and registrations help you in two
ways:
First, local authorities will not bother you.
Second, compliances create trust factor among
people that eventually helps in
business growth.
Hire a business attorney to take care of your taxes,
paperwork, employer identification number, and
apply for the necessary license, trademark
registration, PF, GST and other compliances.
5: TAKING CARE OF LEGAL ASPECTS
Remember, people join companies to attain
their financial goals. If your business plan
delivers to fail, your company is bound to fail.
The goal of your company should be to
attract skillful people that could propel your
business further.
It is imperative to have a very liberal and
lucrative commission plan.
Money is the biggest motivator, just like you
are launching MLM company for money,
people also have their dreams. Help them;
they will help you in return!
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6: COMPENSATION/COMMISSION PLAN
INDUSTRYEXPERIENCE
7: TRAINING AND REWARDS & RECOGNITION
MLM business is all about working
through people who are independent
contractors (distributors).
You need to have a well-defined,
structured training program to enhance
the skills of the distributors.
Training could be offline, online
(including webinars and video sessions).
You need to have a great R&R Program to
recognize outstanding distributors for
motivation.
.
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TIP: You need not dwell much into R&R, checkout the leading
companies & customise as per your needs.
OUR PORTFOLIO
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Let's connect on social!
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KEEP IN TOUCHHOW TO REACH US
Sankalp Computers & Systems
Private Limited (Makers of Ventaforce,
world’s most loved MLM software)
First Floor, Opposite Ladkat Petrol
Pump, Narpatgi, Pune
Maharashtra - 411011 (India)
MAILING ADDRESS
EMAIL ADDRESS
Landline: +91-20-41062333
Mobile: +91 9881748645
PHONE NUMBER
THANK YOU FORYOUR TIME!
HOPE TO WORK WITH YOU SOON!
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