8 Ways to Make More Money with HempWorx
The most recent HempWorx affiliate earnings disclosure is pretty dismal, with over 95% earning much less than $1,000 per year.
This is largely due to the difficulties of the MLM industry (which we'll talk more about soon), but also due to the fact that a lot of affiliates aren't doing the 8 things we'll discuss here now... 8 ways to make MORE MONEY with HempWorx.
What Is HempWorx?
Assuming that you probably already know this, we'll keep it short.
HempWorx is a product line by the MyDailyChoice company that consists of CBD products, and was just launched in 2017.
Products are not sold in stores. Instead, the company relies on independent representatives (affiliates) to run around doing the selling. Affiliates also have the ability to recruit in other affiliates, build 'teams', and earn commissions from the efforts of those beneath them.
In a nutshell this is a CBD direct sales/MLM opportunity in which affiliates can earn money in 2 ways:
- By selling products
- By recruiting in other affiliates who buy and sell products
But here we aren't going to be talking about the super obvious like how you should recruit more people in or sell more products to make more money. Here are 8 ways to earn more with HempWorx that aren't quite as well-known...
8 Ways to Increase Your HempWorx Earnings
1) Use The Products Yourself
It will be hard to sell HempWorks products or the opportunity if you yourself don't even believe in what they sell.
You may be a naturally good BSer and have a knack for sales, but there is no substitute for genuinely loving what you sell.
Using the products for yourself will allow you to make a much more personal sales pitch to potential customers. You will eventually have some personal experiences to share (hopefully good ones) and in a modern world where technology has brought about a marketing system that seems to be massively impersonal at times, this is what people want.
And besides, if you aren't using the products then what are you doing with HempWorx anyhow? There are other MLM choices out there..
2) Know The Science Behind It
Again, you may be a naturally good BSer and you may be able to hype up a product without really saying much of anything. That is great and all, but you could do a lot better if you took a bit of time to know some of the science behind the HempWorx lineup and CBD in general.
CBD is all the rage nowadays and has many claimed health benefits, some of the most well proven being a treatment for epilepsy, anxiety, depression, and insomnia.
Adding in something like "In a 2019 study of CBD's affects on anxiety and sleep, it was shown to improve sleep in 66.7% of patients and decrease anxiety in 79.2%"... would sound a lot better than just saying... "it's good for sleep and anxiety". And this study is true by the way.
It would also be helpful to know the science so that you don't spread misinformation. Because of all the hype surrounding this new emerging industry there is a heck of a lot of misinformation being thrown out there... which isn't true.
And you should definitely know what CBD is! There of course are going to be people who, because it comes from the cannabis plant, have the wrong impression of it.
3) Know Everything About The Products
Study the products, get to know them. Know what they look like, taste like, feel like... well maybe not all of that... but you need to get to know them.
Know exactly what they are used for, how they are taken or applied, different concentrations and flavors, etc.
And know what products go together. If someone buys the Hemp-Infused Coffee then the Keto Coffee Creamer can be an easy additional sale to double your revenue.
This should be a given, but it's surprising the number of people selling products when they don't really have much clue of what they are selling. Don't be one of these people.
4) Recruit Business-Minded People
With the MLM structure that HempWorx has in place it is paramount that you recruit other distributors in if you want to take full advantage of the compensation plan. This is how you move up the ranks and this is how you get leverage on your side.
But don't waste your time trying to recruit everyone that is willing to listen to you. There are a lot of young people more than enthusiastic about the CBD movement, but might not make the best people for your 'team'.
You want people who are serious and who will help you expand your "team", aka downline. You want people who are just as motivated as you are.
In our post on ways to get local MLM leads we mentioned going to real-estate seminars, law of attraction events and things like this.
Because you often meet business-minded individuals at events like these that are serious about taking full advantage of opportunities like this.
5) Take Full Advantage of Online and Offline Sales
Some people are more old-school and will want to run their business face to face, selling products directly to customers and recruiting people in directly. Other people try to do everything online, both the recruiting and selling.
While it is possible to choose either of these methods, it is definitely recommended to take advantage of both.
You get your own replicated HempWorx website with lead capture pages, pre-made autoresponder emails and more. Take advantage of this and advantage of the fact that online you can reach people all over the world without ever leaving your chair.
And never underestimate the power of the old-school approach, which is equally as important. Doing business in the real world, face to face, gives you more power to create personal connections and lasting relationships... which can help build a stronger team. And while the HempWorx company does provide online training, being present and helping out new recruits in physical form can make a difference.
6) Deduct Your Expenses
Let us not forget that you are considered an independent contractor (self-employed) with a business like this and that you can deduct your expenses come tax time with the IRS 1099 form.
The one-time affiliate enrollment fee of $20 is an obvious deduction along with any starter pack you order.
If you would go all-out and order the Executive Pack for $599 you might use the products that come with it yourself... but it seems this could still be a deductible business expense since you are using them with the purpose of getting to know your products of course... but I'm no tax professional.
Other expenses could include:
- Home office space
- Cell phone
- Supplies (pens, paper, ink, giant billboards, etc.)
- Car expenses (driving to meet people and so on)
- Health insurance if this is your main job
- Educational expenses if you feel like taking a course to learn more about some aspect of the business
Here is a good list of some top deductions we found online that will give you some other ideas.
7) Don't Be Too 'Salesy'
No one likes that annoying salesperson that won't give up trying to sell something that you have no interest in. We've all had experiences with these types of people at one point or another.
Salesy salespeople are becoming more and more a thing of the past, as sales methods are improving and data is showing better results from less in-your-face approaches.
There is hard-selling and soft-selling.
Hard-selling is when you jump straight to the point with your sales pitch... you let the person know what you are selling that they instantly know they are being sold to. It is aggressive. Soft-selling on the other hand is more indirect and has more focus on building trust and a relationship before closing a sale.
Of course a sale is the end goal, but try to get away from thinking about making sales constantly. Focus on helping people, whether that be with some health problem that CBD can help with or with the opportunity of a home-based HempWorx business. Focus on helping first and go for a soft-selling approach, which most people who have tried it will say works better.
8) Treat It Like a Job
The insanely high failure rates of participants in MLMs, which was estimated as being as much as 99% by a study of 350 MLMs by the Consumer Awareness Institute, can be a bit misleading.
No one doubts that MLM failure rates are high, but how much are these statistics skewed by people who don't fail... but rather just quit too early and Peter out?
Running your own home-based business has its advantages. There is no commute, more flexibility, no boss breathing down your neck... but it can be difficult to stay motivated and keep on track.
If you are serious about making money with HempWorx then treat it like a job, not just something that you might or might not have time for today.
A lot of new affiliates work other jobs and what not, and you might be one of them. But try to take and schedule a piece of your day where you can dedicate to the business.
So take the time to go to that local meeting. Take time to set up that Adwords campaign. Take the time to help train a new recruit. Of course without putting in the time the results won't come.
Set goals, make a schedule and write it down... and then put this schedule somewhere you will actually see it so that you don't forget. Make it a habit to put in the work.
One of the keys to forming a habit is to make it as easy as possible on yourself. So for example, if you want to create a good habit of eating breakfast then you can prepare it the night before, so that it is easier to eat in the morning when you are tired. Or if you want to make a habit of working out in the mornings you can sleep in your exercise clothing, which means one less thing to hold you back in your normal half-asleep morning state. (tips from Shawn Achor's great book The Happiness Advantage)
Being successful with the HempWorx opportunity, or any MLM for that matter, takes someone who knows the products and believes in what they are selling, knows who to recruit and who might be a waste of time, and takes the business seriously.
Many of these 8 tips seem like they might be common sense, but most people don't do this stuff... and if you do you can increase your chances of good earnings.
But at the end of the day you are still at the mercy of the MLM pyramid business model, which unfortunately favors a small percentage of people due to its structure and how people high-up receive kickbacks (commissions) form affiliates multiple levels down below. This pretty much ensures the high failure rates that we often see.
The HempWorx compensation plan has Leadership Check Matching that pays down 10 levels...
They have Binary Commissions where you can earn even further into your downline...
And they have other ways to earn that are based around the MLM pyramid structure... which is good if you are sitting pretty at the top, but not so good if you are one of the majority at the bottom.
There are many reasons why people who get involved in MLMs fail and the very structure of the business model is undoubtedly one of the main reasons, which is why here at Legendary Wallet we promote affiliate marketing and recommend the Wealthy Affiliate training program to get started, as this requires no recruitment and you keep all your commissions.
Now it's your turn: Do you have any tips for HempWorx affiliates to increase their earnings? Let us know in the comment section below...
We like to hear back from our readers 🙂