Millions of people participate in MLM Schemes as a way to make money. However, many are skeptical, despite the promise of big salaries and luxurious lifestyles.
The truth is that most people who participate in MLM lose money. So here are some alternatives to increase your income in 2022.
What is MLM?
Before we get started, let’s take a quick look at what MLM actually is. MLM business models operate so that the workforce is not paid. Instead, they earn money by:
- Selling products and earning a percentage of commission.
- Hire others in the company and earn a bonus or commission on their sales.
There are some scams, as well as some legitimate MLM schemes – like Avon, Herbalife, or Forever Living. But, even with real schemes, most people fail to make money.
Top Alternatives to MLM
If you are looking for another way to earn some extra cash, here are some of the best options:
1. Affiliate Marketing
Affiliate marketing means that you get paid to promote products. Like MLM, you earn commission on product sales, but there is no hiring others involved.
To become an affiliate marketer, you can join the merchant program – it could be a product creator, seller or brand. Some major brands use affiliate marketers, Including Amazon.
You can promote products in different ways, such as social media marketing, starting a blog, or creating a YouTube channel related to a specific niche.
Another option is dropshipping, which is similar to affiliate marketing, as it involves selling products. But you have to choose your own products and handle distribution as well.
To start a dropshipping business, you need to start an online store to sell products, and find a supplier using a platform like AliExpress. The supplier then sends the products directly to the customer, and you get a commission on each product.
3. Freelance work
If you have skills and some spare hours, freelancing is a great way to earn extra money. You can choose your own working hours and work on a project or hourly basis.
Some types of freelance work include:
- virtual assistant
- graphic design
- Social Media Manager
4. Part time work
Finally, for many people, having a part-time job is a good way to earn extra cash. This can also be something you enjoy, such as a passion or hobby, for which you make money. The benefits of this are that you get paid quickly, it’s low risk, and it doesn’t require any upfront investment.