Network Marketing | MLM consists of three major components.
SYSTEM OF DUPLICATION
Let’s First cover Time Leverage…
This is the ability to get paid month after month on the work that you do one time.
A good analogy that you are already familiar with is the franchising industry. In franchising, the franchisee, or one who purchases the rights to do business using a well-known business name for example McDonald’s, pays a royalty fee every month to the franchiser, or parent company. It’s always a percentage of the profits earned.
The parent company, or McDonald’s, has incredible time leverage. The more McDonald’s stores they have around the world, the more money they make.
But, the parent company certainly doesn’t do all of the work. If they have 5,000 stores, each open 18 hours a day, 90,000 hours are worked daily on their behalf.
The concept works in much the same way with our business system, except you don’t have to pay a royalty fee each month!
For example, let’s say you start your own Network Marketing | MLM business and begin by investing five hours per week into your business. You introduce your business system to Eric and begin working with him. He also puts five hours a week into his business. You now have 10 hours per week working on your behalf, although you are only putting in five hours yourself.
If you and Eric each bring in a new partner, who each commit to five hours, you will soon be benefiting from 20 hours per week. Remember, your actual time involvement is only five hours each week.
By the end of the first month, you have forty hours each week working on your behalf. At the end of the second month, over 640 hours will be invested into your business each week, but not all by you. You are only putting in five.
Do you see the beauty of time leverage?
In network marketing, we are paid for opening “outlets” and teaching those “outlets” to be successful.