Amway or MLM Program
This page is dedicated to Amway or similar multi level marketing programs and is not for any pyramid scheme. To be able to understand what’s given below, you should at least understand the difference between MLM and Pyramid schemes. I have seen people using these terms interchangeably which is absolutely wrong and then they end up having wrong perception of both the worlds.
At a high level, Amway business model is all about three steps i.e. use products, sell products and get more people into the system to do all these 3 steps. For a computer engineer, it’s like a recursive call :-). In concept, it’s very simple but yet more than 95% people quit during first year and lose the money whatever they invested or spent in the process. But still there are always new people joining this business and trying out this business model. This post is for those people who are looking to built this business (or are already there) and want to know the secret of how to succeed in this model. These are all personal views and might not fit in all the scenarios or with all people but still these hold true in concept.
Steps to follow to be successful in Amway or any MLM business
1. Aquire good understanding of products – Even though this business is all about making big teams and inspiring more and more people to join the business but nothing can work unless the person doing this business understands the products well. At the end of the day, products are the core of the business and person has to sell them (directly or indirectly through the team) and right knowledge of products is required for that.Once bad recommendation of product, can really result into loss of customer or future IBO for whole life. Also good knowledge of products, boost the confidence to promote them.
2. Have good selling skills – This business or anything else in life is all about selling. Event if you apply for a non sales job, your first step in interview is to pitch and sell yourself. Selling skill might not be required a lot in life but to be really successful in this business, you need to have good selling skill. Somebody familiar with the compensation plan and bonus module would know how important is to have side volume to get good compensation.
3. Good networking skill – Networking skills is not a talent but a skill and can be acquired with some learning and continuous effort. Person working in this business has to keep increasing his network and try to add more and more people to his business. This is kind of tricky and takes most amount of time but this skill is most important to grow business. Other than increasing the team, other benefit of networking is to add new customers and increased sales.
4. Follow the education system and your uplines – This is where some people don’t like this whole MLM business model. It’s like a borderline cult and sometimes person has to blindly follow the system or uplines even if they are not right. But no matter what this is the reality and somebody trying to stick to this business model has to keep doing this.
5. Have patience with the system – This is last but not the least step to be successful in the Amway business. Success takes time and person has to keep patience with the system. Anybody who doesn’t have faith in the system, doesn’t stick around for long and hence never see the success. Keep doing what you are doing with the hope of earning big money some day. If it happens you are one of the luckiest people in the system otherwise keep trying and Good Luck!!