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Welcome to the MLM Startup Series!
You've decided to start a multilevel marketing company. Where do you begin? Do you have a product or service you want to sell? How can you be sure if there's a market? Will copying a successful network marketing company's compensation plan work for you? Should you use a party plan marketing strategy or an opportunity driven strategy? How will you find your first leaders? These are just a few of the thousands of questions anyone seeking to successfully start a multilevel marketing business must answer.
Welcome to the MLM Startup Series, a guide specifically directed to startup and young direct selling companies that utilize multilevel compensation plans. This includes both "party plans" and those businesses which are commonly categorized as "MLMs." We will endeavor to provide answers to questions ranging from frequently encountered situations with industry-wide application to unique situations applicable to specific product or service genres.
For anyone starting an MLM, or who is running a young network marketing business, the MLM Startup Series is an exceptional guide you can use to your advantage, but don't make the mistake of allowing it to be your only resource. I encourage you to take advantage of as many resources as possible, for there is no such thing as too much education when you're launching a network marketing business.
Start with our overview on the Legal Principles of Multilevel Marketing.
Other great resources include the annual Direct Selling 101 seminar sponsored by the Direct Selling Association (www.dsa.org), the semi-annual Direct Selling Symposium sponsored by the Symposium Group (www.thesymposiumgroup.com), and seminars sponsored by the Direct Selling Women's Alliance (www.mydswa.org).
Also, check out the enormous collection of materials on the mlm.com website (www.mlm.com). And for those who need to understand compensation plans (and everyone in the industry does!), Mark Rawlins' book Understanding Multilevel Compensation Plans is a MUST read. Don't forget the legal resources as well.
Our firm's website, www.mlmlaw.com, contains reams of material focusing specifically on legal issues. You can also access press releases issued by the Federal Trade Commission (www.ftc.gov) that provide great case studies on where others have gone wrong.
I encourage you to visit us frequently, as new content will be added on a regular basis. So welcome, we hope you find the MLM Startup Series helpful, and of course - Good Luck (just don't count on luck alone!).
Spencer Reese
Grimes & Reese, PLLC
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