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7 KEY CONSIDERATIONS YOU MUST KNOW BEFORE STARTING YOUR OWN MLM BUSINESS

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7 KEY CONSIDERATIONS YOU MUST KNOW BEFORE STARTING YOUR OWN MLM BUSINESS

  1. 1. 7 KEY CONSIDERATIONS YOU MUST KNOW BEFORE STARTING YOUR OWN MLM BUSINESS https://www.ventaforce.com
  2. 2. 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 PRESENTATION FEATURES WHAT WE WILL COVER TODAY https://www.ventaforce.com
  3. 3. 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 https://www.ventaforce.com MLM Software
  4. 4. Here are the 7 key considerations you need to know before starting off. These considerations are intended to give you a reality check before you make investments. https://www.ventaforce.com
  5. 5. INDUSTRY EXPERIENCE 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. https://www.ventaforce.com
  6. 6. https://www.ventaforce.com 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
  7. 7. 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 money. https://www.ventaforce.com 3: FINANCING
  8. 8. INDUSTRY EXPERIENCE 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. https://www.ventaforce.com
  9. 9. https://www.ventaforce.com TIP: If you are unwilling to slog, you are bound to flop. MLM business needs people who could lead from front.
  10. 10. https://www.ventaforce.com 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
  11. 11. 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! https://www.ventaforce.com 6: COMPENSATION/COMMISSION PLAN
  12. 12. INDUSTRY EXPERIENCE 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. . https://www.ventaforce.com
  13. 13. https://www.ventaforce.com TIP: You need not dwell much into R&R, checkout the leading companies & customise as per your needs.
  14. 14. OUR PORTFOLIO https://www.ventaforce.com
  15. 15. Let's connect on social! https://www.facebook.com/ventaforce FACEBOOK https://twitter.com/ventaforce TWITTER https://www.instagram.com/ventaforce INSTAGRAM https://www.ventaforce.com
  16. 16. KEEP IN TOUCH HOW 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 sales@sankalpcs.com EMAIL ADDRESS Landline: +91-20-41062333 Mobile: +91 9881748645 PHONE NUMBER
  17. 17. THANK YOU FOR YOUR TIME! HOPE TO WORK WITH YOU SOON! https://www.ventaforce.com

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