MLM is a great equalizer where anyone can succeed because success is independent of age, race, sex, or any demographic and MLM therefore holds great appeal for many.

Are you ready to start your own MLM business? Before you embark, what sort of investment should you consider?

To answer these questions, this article will outline six-part investment required to be successful in your own MLM business.

1. Capital investment. Any business will require money. Fortunately within MLM industry you can start your own business with relatively minimal cash investment. You don't need to rent, buy or lease business premises or hire employees. You don't need large capital sums required to franchise a business (typically up to $250,000). And, since you will be creating your own good will, you don't need to outlay funds to purchase goodwill.

2. A willingness to take personal accountability. Well established and well run MLM groups will have a clear and defined mentoring or coaching system which will fast track new beginners. However, it is up to individuals to take responsibility for their own learning. The faster you learn about your business and develop skills to train others, faster your success will come. You will need to actively seek out information.

OK. You’ve got dream. Now let’s see what it takes to make it a reality. First question for you: What do you think is most important thing you need to launch your business? A great voice? Surprisingly, a great voice isn’t all that important for success. Talent? Well, yeah, you’re gonna need some talent, but talent (in most cases) can always be developed through study and practice. Determination? Sure, but simple determination won’t make you a success.

The Secret of Success

So, what’s most important thing? Get ready. It’s called…a plan. Yup. A plan. Not very “show bizzy,” huh? No, it isn’t, but it’s most important piece of business start up puzzle, and it applies to every type of start-up, not just voiceovers. Now, before we talk plans, let’s talk about second most important thing you’ll need for success—money.

It Take Money to Make Money

A lack of capital, seed money, whatever you call it, is overwhelming reason most business start-ups fail, including those with a plan. You’ll need enough money to pay for equipment, marketing materials, office expenses, insurance, utilities, etc., etc., while you’re waiting for checks to come rolling in. Oh, and just to remind you, you’ll need money to live on, too. How much money will you need for business and living expenses? We’ll get to that shortly, but first, let’s talk about your plan.

A Plan by Any Other Name

Call it a business plan if you like, but that tends to sound a little intimidating and, frankly, overwhelming. Call it your “plan for success,” or “my freedom from oppressive employers plan,” you know, something more self-affirming and inspiring. Whatever you call it, your plan should include following points…

The voice-over services you will sell and to whom you will sell them. You probably have, or will have, a particular strength, e.g. characters, promo/imaging for radio and TV, corporate narration, animation characters, hard sell, etc. Accentuating your strength and marketing it to appropriate clients can lead to more gigs than just a general scattershot approach to all possible clients.