Millions of people are involved in MLM schemes as a way to make money. However, many are skeptical, despite the promises of large salaries and luxury lifestyles.
The reality is, most people that get involved in MLM lose money. So, here are some alternatives to boost your income in 2022.
What is MLM?
Before we start, let’s take a quick look at what MLM actually is. MLM business models work so that a workforce is not salaried. Instead, they earn money by:
- Selling products and earning a percentage in commission.
- Recruiting others into the company and earning a bonus or commission on their sales.
There are some scams, as well as some legit MLM schemes – such as Avon, Herbalife, or Forever Living. But, even with genuine schemes, most people fail to earn money.
Top MLM alternatives
If you’re looking for another way to make some extra cash, here are some of the best options:
1. Affiliate marketing
Affiliate marketing means you get paid to promote products. Like MLM, you earn commission on product sales, but there’s no recruiting others involved.
To become an affiliate marketer, you can join a merchant’s program – this could be a product creator, seller, or brand. Some major brands use affiliate marketers, including Amazon.
You can promote products in various ways, like social media marketing, starting a blog, or creating a YouTube channel related to a particular niche.
Another option is dropshipping, which is similar to affiliate marketing, as it involves selling products. But, you need to choose your own products and handle the distribution, too.
To start a dropshipping business, you need to start an online store to sell products, the find a supplier using a platform like AliExpress. The supplier then sends the products directly to the customer, and you earn commission on each one.
If you have skills and some spare hours, freelancing is a great way to make extra money. You can choose your own 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 job
Lastly, for many people, getting a part-time job is a good way to earn extra cash. This can also be something you enjoy, like a passion or hobby, that you make money from. The benefits of this are you get paid quickly, it’s low risk, and it doesn’t require any upfront investment.