Every year there are new MLM companies springing up. This marketing strategy has become a great way for comapnies and individuals alike to make a good income. It is a Win-Win situation. However, with all the choices out there, how do you choose a good company to sign up with? Here is a checklist of some of the things you should look for when choosing an MLM company.
So you've decided you want to get in on MLM or Network Marketing. You've read all the literature about how it's a good marketing plan and that it's endorsed by such people as Robert Kiyosaki and Donald Trump.
But now you are not sure what company you should join. What makes one company better than the other?
Well I am here to tell you that if you just want to join, stand on the corner next to the homeless guy and put on your sign "Looking for MLM Company". You will create a traffic jam of network marketers running to sign you up.
But once you sign on the dotted line what do you really get. Not all MLM companies are the same. From compensation plans to training there is a lot to know.
Here are some points to consider (your checklist, so to speak)
1. What is the product you will be marketing?
First and foremost, you are selling product and selling by word of mouth. So the product needs to be something you believe in. Ask yourself, Do you like the product? Would you buy it and use it if you weren't selling it? Is there a demand for it? Is it of high quality? (Does the company stand behind it with a guarantee?)
2. What is the price for the product?
Is the price reasonable and fair? How does it compare to the price of similar products on the market? Is there a discount available to you as a distributor? In other words, can you make money by retailing the product?
3. What is the initial investment required to get started?
To join an MLM company you are usually required to become a member or a distributor of some kind. To do this there is a cost. How much does it cost to become a business builder in the company you are looking at? Do they offer several levels of entry? What all do you get for your initial investment (product, training material)?
4. How much product do you have to purchase each month?
Most MLM companies will require some sort of personal product purchase in order to be considered a distributor or business builder. How much will it cost you each month? Are you allowed to pick what you would like or are you just sent an auto shipment of products they decide you must buy?
5. Are your earnings based on amount of product sold or the number of distributors you sign up?
While it is desirable to have a downline (people you sponsor into the company), make sure your earnings are based on amount of product sold by you or your downline.
Since you have two goals, retailing and recruiting, you need to pay close attention to #6 & #7
6. Is the product consumable? / Do you have a chance for repeat customers?
Since one of your goals with an MLM company is to retail a product, it helps to know who your target prospects are and how they are going to use the product. Will you be able to get them going on a monthly program of buying your product? Is there an auto ship program to help keep your product moving?
7. Is there training offered to help you build your business?
In my opinion, this is one of the most important areas to check out when you are looking for a good company. Do they offer you a way to get trained and get trained correctly? Network Marketing, like any other job, has its own methods. There are both good and bad ways to go about the business. Your upline is critical to this training.
Your upline is the person who sponsors you into the company and the people who sponsored them in. This is your mentor and coach. This is the person who can get you through the tough times of starting a new business.
Even if the person who sponsors you isn't the best at training is there someone farther up that is doing the business and having the success you are looking for? 95% of all people who start and MLM business FAIL. The two main reasons are they don't want to actually work or they aren't being trained to work the correct way. So if you are committed to the plan than all it takes is the right guidance.
8. What is the companies track record? Last but not least, you should look at the company and see how it does business. Do the company's values match up with yours? Have they been around and do they have a stable track record? Check out their website and don't be afraid to go around the person sponsoring you to do your own research. Don't believe everything you hear.
Multilevel Marketing can be the opportunity you have been looking for. It provides a way to start your own home business for little initial investment and little risk.
By following the checklist you can get yourself off on the right track with a company that fits you and your goals.
But don't forget, no matter how great the company, Network Marketing requires hard work and commitment. You can't just sign up and then sit back and wait for the cash to flow in, you need to take advantage of all the training the company and your upline has to offer. Figure out the plan that is going to work for you and then go, Go, GO!
As the great commander Peter Quincy Taggart once said, "Never give up, Never Surrender!"
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