The Covid-19 Pandemic Is Driving More People to Start an MLM Business From Home. Here’s Why…
The current coronavirus (COVID-19) pandemic has put the entire globe in a dicey situation. The deadly novel coronavirus, which has no publicly available cure yet is causing dramatic changes and severe disruptions to the daily lives of millions of people across the world.
Record high unemployment rates, volatile stock markets, and predictions of an economic recession prompt consumers, business owners, and entities to be on the defensive. Spending cuts, cost cuts, layoffs, and priority spending, which are all-natural behavior in a time of crisis, now dominates the atmosphere.
Economic and health crises are difficult times to sail through. However, these crises often present people with an opportunity to explore other legitimate business opportunities like starting an MLM (multilevel marketing) business.
What Is Multilevel Marketing?
Although this marketing strategy has been in existence for a long time, many people still do not know what it entails. For or the sake of clarity moving forward, I will briefly explain what it is. Multilevel marketing refers to a business strategy whereby the MLM company generates revenue from participants promoting and selling their products and services.
As a participant, salesperson, distributor, or promoter within this business structure, your earnings depend on your work and your sales of both products and services within the specific financial compensation plan of the MLM company, commonly referred to as The Distributor Compensation Plan.
These compensation plans generate income or commissions that usually come from two revenue streams. The first is from your own retail sales of the MLM company’s products or services. The second is a percentage override of the sales of participants you recruit, known as your “downline,” and often, a percentage of their “downline” recruits. And, also for a certain number of “Levels” below the distributor that you personally recruit. This is referred to as your “downline organization.”
Why the Covid-19 Pandemic Is Driving More People to Start an MLM Business From Home
People Are At HOME!
The shelter-at-home orders mandated by different international, state, and local governments to halt the spread of the coronavirus (COVID-19) means that BILLIONS of people are spending more time at home.
In between working remotely, taking care of the kids, and other house chores, many people are also paying a great deal of attention to their wellbeing. They are seriously considering starting a business from home. The pandemic is rapidly changing people’s attitudes, particularly in terms of their health, as they are now more conscious of hygiene, healthy eating habits, and self-care.
Are you still wondering how this connects with a Multilevel Marketing business? Well, there has been an increase in self-care, which according to the W.H.O., is an absolute must, people must now be part of and have the ability to promote and maintain health, prevent disease and cope with illness with or without the support of a healthcare provider.’
The W.H.O. defines self-care as: “the ability of individuals, families, and communities to promote health, prevent disease, maintain health, and cope with illness and disability with or without the support of a healthcare provider.”
People are now paying more attention to self-care during this pandemic, in various forms that differ from one person to another. For instance, through the intake of proactive and preventative health and nutrition products like vitamin supplements, herbal supplements, etc., they are supporting their mental and physical health and their immune system. This means that if you start an MLM business with an MLM company dealing with authentic products that can improve people’s health, nutrition, and overall wellbeing, you will be on the right path to success.
More Than Ever Before, People Need an Extra Source of Income or Means of Livelihood
Many companies and organizations, both big and small, are making drastic spending and cost cuts due to sharp declines in revenue and ongoing predictions of an economic downturn.
This cost-cutting defense has led to layoffs and furlough of millions of workers from their jobs due to the COVID-19 pandemic. It is truly a difficult time for many people. Starting a multilevel marketing business presents them with a legitimate and exciting way to make decent, and in some cases, phenomenal income. However, it is essential to note that a legitimate multilevel marketing business is not a rich, quick scheme. It is like every other business endeavor; the only difference is its structure and approach.
People’s New Found Need for Certain Services
There is a lot of speculation that the economic disruption by the coronavirus (COVID-19) pandemic will eventually lead to a global economic recession. This uncertainty is causing dramatic changes in the needs, desires, and preferences of consumers.
Fears of a pay cut or worse a layoff have made many people prioritize their spending habits and be on high alert for what they perceive as a good deal. This is where working as a representative for an MLM company comes in, uniquely if the product or service you’re promoting enables consumers to save money on what they are already purchasing. Not only will this grab their attention, but also get them onboard faster.
Services to consider are De-regulated Energy providers, telecommunications, health, and nutrition, etc. The idea is for you to select add-on products or upgrade services that will be important to consumers during this time.
More people are now spending time working from home and networking through live video-conferencing systems such as Zoom, a considerable time and cost saver for you. This means that internet usage will soar to record high levels. You should seriously consider using Zoom to build your business from home.
People Are Easy to Reach
Door to door or direct sales is a popular sales method during an economic downturn. This is because people are looking for ingenious ways to make money and also to save money by getting the best price for certain products and services.
Even though this current global situation is unprecedented, it does not limit the potentials of person-to-person sales. The person-to-person sales format during this time, with adherence to regulatory guidelines, is an incredible way for you to break into the network marketing and direct sales field.
Due to the current crisis, many people will not want to leave their homes. However, they will still appreciate people coming to them, particularly if they have products that they want and need. Hence, working with a multilevel marketing company with an appealing and useful product or service that satisfies a specific or multiple needs of consumers is a smart move.
Here, we have discussed some key points why the COVID-19 pandemic is driving more people to start an MLM business from home. However, it is essential to note that to scale and grow the MLM business, you need a powerful MLM software solution. For the smooth management of your MLM operations, such solutions like MarketPowerPRO from MultiSoft Corporation. That is where we come in. We are the top leading provider of fully functional, online, MLM Software Systems. The MarketPowerPRO MLM software has been designed and developed for optimum performance. It has advanced features and tools you can leverage to take your MLM business to the next level.
Watch This Video To Find Out Why You Should NOT Start An MLM Company
Now Watch This Video To Find Out Why You Should Start An MLM Company
And what is a realistic time to start an MLM company?
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Finally, you really should consider hiring a competent MLM consultant. You’ll be glad you did. It is surprising what qualified MLM Consultants can do to catapult your new business enterprise.
I’m here to assist you, along with my team of full-time network marketing dedicated professionals. Call me just for a chit-chat, it won’t cost you anything, I would like to meet you to discuss the industry I am passionate about.
Steve Mommaerts — Vice President MultiSoft Corporation, Est 1987.
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