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One of the most important things you need to do when starting an MLM business is to figure out who your target market is.👥👨💼💰
And by that, I mean, who are you going to actually be approaching with your business proposition?
A lot of companies suggest that you go after what they call a warm market. A warm market of people that you know, like, and trust. The MLM company usually tells you to create this long list of people that are your acquaintances. This could be family members. This could be friends. These could be people that you work with. This could be people that you run into all the time at a restaurant or maybe somebody like your barber or whoever, right.🏘️♨️💲👥
The problem with this approach is that when you go after this type of warm market is that the only thing warm about them is that you know them.
This approach is not necessarily good if you're looking for somebody to come in and help you run your business or help you create a business and specifically create a business for themselves. I wouldn't necessarily call that a warm market.👀📈💲
What I would recommend doing is going after more of a cold market and looking for people that are interested in doing this type of business or at least motivated in starting a business in the MLM industry.
These are people that are possibly out of a job, especially with this current pandemic. They might have been laid off or their job has been surplussed. Or maybe look for people who are not looking for work but are looking for another source of income. Or maybe people who have a job and they are just looking at ways to make some extra money. Or maybe look for people that have two jobs and they are just running ragged and they need more of a residual income, which is what a lot of these MLM businesses will provide.👀👨💼💰💲👥
What about students? Students might be good, a group of people to target.
The other thing you can do is look for people that are in industries that already have a good downline.
Meaning they already have got quite a few clients or people that they could market this business too. So for example in my case, because mine is based on home services, such as phone services and internet services and gas and electricity … so realtors are perfect for me.👨💼👥💰
What I'm going to do is I'm going to focus on talking to realtors or brokers
A real estate brokerage, by default, is an MLM business that has a downline because they have all the agents under them.
So do mortgage brokerages … or maybe even people in the travel industry … They have a lot of agents and clients.
So, the point is that when trying to decide and pick your target market, get people that you think are going to be more able to create a business around what you're doing. Somebody with an entrepreneurial spirit, somebody that can help you or help themselves become business owners.🎯👥💰👨💼