Partnering in your Cyberwize business

Creating a MLM takes a tremendous amount of effort, talent and drive. Sometimes when a person has a product that they want to sell through a MLM they look for a partner to help with the capital and the decision making. As with any new business sharing ownership can be a hit or miss and it is important to take all aspects of the MLM into consideration before deciding to form a partnership.

Kinds of Partnerships

When you are a partner in a business you usually take one of two paths. Either you are an active partner or a silent partner. This is a simple definition as it is usually much more complex, but basically an active partner is more involved in the day to day planning, while a silent partner is more about providing capital and financial support. Because of the outgoing nature of MLMs there are likely fewer silent partners than what one would find in other businesses. Because MLMs demand a certain level of passion in its owners, it is more likely that all partners will be active.

Business Decisions

The decisions made as a MLM is formed will affect it for most of its life. Issues such as the compensation plan and recruiting methods have to be thoroughly reviewed and selected. The owners must discuss and agree upon all the details and methods. They need to look at division of labor and who will be responsible for each area of the MLM. They have to look at their long range goals and determine if they have the same level of commitment. They must look into the future and plan for changes that can and will happen. The biggest change is when one of the owners decides to leave, what happens to the company? Every possibility must be explored.

Legal Concerns

Once all the details have been worked out the plan must be committed to paper and agreed to by both owners. It is important that this step includes legal counsel. Both owners can either share one lawyer or have their own. If one lawyer is used it must be someone who is fair to both sides and has no bias against either of the owners. The document should be reviewed and each section gone over and agreed to by both sides. Only when this document is signed should they start to launch the MLM.

Problems

If the MLM ownership document is complete then any major problems should be addressed. It is important that owners resolve conflicts quickly because a lingering dispute can halt the progress of the MLM. One legal expert advises that the number of owners should not go above two, as the more owners involved the greater potential for conflict. He especially advised against three owners as in his experience it often turns into a two against one scenario and the power struggle can destroy the MLM. As with any business decision it is important to do extensive research and get legal advice before agreeing to share ownership of a MLM.

Outsourcing MLM Lead Generation

In MLMs the business model depends on a constant flow of new leads. Many new inexperienced MLM salespeople are easy to spot because they approach their family and friends. Some are shy about it, but others are bold and follow the “Three Foot Rule”, and talk about their MLM to anyone that gets within three feet of them. MLM salespeople who have been it the industry for a while are always looking for new places to find leads and on option is to outsource their lead generation.

Leads Finders

There are companies who specializing in generating leads and they can do it several ways. Some operate like direct mail list builders. They enter certain criteria into a database and a list is produced. A MLM sponsor or salesperson would want to use criteria such as age, income, and region and this will produce a list of prospects names and addresses, and if available phone numbers. Other lead generating companies might compile lists through market surveys or other sources. The MLM sponsor buys the list and then may use it for a certain amount of time.

Cold Leads

The big drawback of these lists is that all the prospects are cold leads, meaning they are not referrals from anyone. They just happen to meet criteria and ended up on the list. For a very assertive MLM salesperson this may not be a problem and he will have no reservation about contacting these people. Others MLM salespeople will not want to cold call themselves, and in that case they may find another company to do the cold contacting.

Lead Contactors

A newer type of lead generation companies will create the lead list for you and make the initial phone contact. They create customized scripts for your MLM product and system and deliver to those leads that are available in your criteria zone. If a prospect is reached and expresses interest they can transfer the call over to you and you can complete the presentation. It is similar to a business call that is transferred from one person to another, except in this case the transfer is from the lead generating company to your MLM.

Making the Decision

Using outside lead generating companies while seeming to provide a large list of prospects, does have its drawbacks. Because these are cold leads there is a lower percentage of successfully contacting them and getting them to agree to listen to your proposal. If you go this route you will need to monitor your costs verses results to determine if it is worth it. Also due to telemarketing restrictions and Do Not Call lists there are fewer available phone numbers every day. You could use the list for a direct mail campaign which may be an option if you’ve had successful mailings in the past. Finding leads gets tougher every day, but it is still important to research the business before outsourcing the lead generation function for your MLM business.

MLM and Market Saturation

MLMs depend on two main revenue streams, the sale of the products and the recruitment of new MLM members. There has always been the challenge of trying to find new leads in a market. While the internet has opened some markets, there is still some problem with market saturation. And if saturation is severe the MLM can start losing members who are no longer earning a good income.

Local Markets

If the local market is considered a regional area, then as more members of a MLM are working in the region, then more leads will be used up and the pool of leads shrinks. The problem is that not only are different MLMs competing with each other in the same market, but often sellers for the same MLM are competing in the same market. It is not unusual to have two or three Avon representatives all located in the same few city blocks. There have even been instances where MLM sellers were coworkers at the same firm and thus in competition with each other for the other employees’ sales. When too many sellers are in one region, it can eventually lead to market saturation, and some of the sellers will drop out of the MLM.

Expanding Markets

With the internet MLMs were able to fight market saturation by using online functions to reach new potential prospects and recruits in new markets outside their region. They could send out email marketing letters to people hundreds of miles away. Their online MLM sites also attracted new prospects outside their regional market. And many regions who were rarely contacted by any MLM seller were now considered viable markets to sell in. But just as the local market eventually can suffer market saturation, it is possible that the newly opened market will be saturated too.

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Tunguska Blast - Relieve - By CyberWize

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