Choosing an MLM- The Seven Things You Should Look For When Choosing an MLM or Network Marketing Co.
If you have been around the Network Marketing Industry for a while you have been asked this question before. Usually the answer is "Yes". The sad thing about network marketing is that 95% of people spend more money then they make. Most of the time it is due to lack of follow through and under capitalization but on some occasions it is due to picking the wrong company to market. The average person getting started doesn't understand what makes a good company. They see a product they like and a sponsor they trust and they are sold. Ten months later they are doing a Google search for the next big thing.
If your goal is to become successful working from home then do some research. There are a few things you should look for when getting involved with a new company. Before you get started ask yourself: "Does my company have these things in place?"
The first one is unique products. Companies must have products that serve the masses so you have lots of people to market to. The products must also be unique and patented so they can't get knocked off and sold cheaper by someone else. The products should also serve a couple different market categories so you don't get saturated in one area.
The second thing is company stability. What is the point of marketing something if it is going under in the next 12 months? There is no point in building a massive residual income just to have it evaporate in a year. It is gut-wrenching to start over. I recommend the company has at least a 5 year track record of growth.
The third thing to look for is a good marketing system. Most companies, good or bad, have terrible marketing systems. As a result this lies in the hands of your sponsor. Are they getting results and can everybody duplicate their system? Remember, the average person must be able to do it.
Number four is company management. Is the company run by a group of intelligent leaders? Do they have a vision for future growth and expansion? You do not want to stay pigeon holed in one country.
Number five is similar to number four but just as important. Can the product line expand internationally? Many products have no use in other countries. One example is the pill that lowers fuel costs. If the price of the pill is more expensive then the fuel it saves then no one will buy it. Every country has different fuel costs. This is just one example.
Number six on the list of things to look for is compensation and incentives. My goal is to make $10,000 per month in as little time as possible. The differences here are staggering. Two companies with very similar products on the market right now have very different comp planes. One company requires 300 people to make $10,000 per month while the other requires 2500 people. It should never take more than 500 people Does the company give fast start bonuses? These are important for the new business builder.
Number seven on the list of things to look for is "How philanthropic is the company". Does the company give back to the community? This shows the true stripes of an organization. If a company is greedy then they will look to squeeze your cash flow too.
The Network Marketing industry makes more millionaires on a daily basis then anything in the world. You can have a great lifestyle if you do it correctly. Make sure you start by choosing a company that abides by the seven fundamentals above. If you do so you will make your journey a lot smoother one.
Related Tags: entrepreneur, work from home, home based business, mlm, network marketing, multi level marketing
Aaron Parkinson is a 29 year old Network Marketing millionaire. He is co-founder of http://www.profitwildfire.com an extremely successful self funded proposal. His company teaches people how to create massive duplication by eliminating lead costs altogether. He can be reached at aaron@profitwildfire.ws
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