If you have agreed with me so far and believe that an MLM company may be of benefit for you, how do you go about working out which companies out there are good and which are not so good.
There are 100’s if not 1000s of companies out there across the world that will offer everything under the sun to get you to sign up with them. Bear in mind that you will be signed up by a representative that ultimately you will make money for.
So How do you choose an MLM company that is right for you?
The company !
OK so the first thing that I want to research is the company that I will be joining. This will enviably be a public company and you should be able to find out plenty of information about them online. I will tell you that you want to look at official sources rather than blogs and reviews which will no doubt tell you how good that company is or how bad (sign up with me here, or don’t sign up with them sign up with me here).
I look for length of time they have been in business. A lot of companies within the Network marketing model don’t succeed past the five-year point, so I want a company that has reached that or at least is very close with no visible signs of struggle.
How does that company, look after its representatives? How is at the top[ and what experience do they have ?
For these two questions you normally have to find the companies own website, they won’t outright lie but if they have experienced CEO’s or they pride themselves on looking after their own people they will sure be shouting this from the rooftops of their website.
For the company to be considered an MLM rather than a Pyramid scheme (here is the difference) it must have a product that sells to customers. Those product sales to customers rather than distributors must account for 50% or more of the sales. This way you know that the product has a value to its customers rather than just being stacked up in peoples garages.
To be successful within Network marketing you need to believe in the product you are recommending to people. This is why it imperative that you check out the products that you are going to be dealing with. Does the company have more than one product range ?
Are the companies products a range that you will use and have basic knowledge in? There is little point trying to get into a hair products company if you are a bald man that has never used conditioner before in his life ?
The Compensation Plan
This ultimately for some companies is not that clear some of them can be very basic and some can be supper complicated. The bottom line is to take one point of reference from each that you are comparing, IE, if you take base commission this is a commission that most companies use and therefor can be compared.
Now there is a lot more than meets the eye to most compensation plans, but in general you will be there a lifetime if you try to understand every aspect of it before deciding which company you would like to work with.
The one point that I will make here, If the company is a good company to work for, and the product is a good product to work with them as long as the compensation plan is not way below everyone else I would say this part does not matter. Your belief in the company and products will earn you a dame sight more than your belief in the company compensation plan.
OK so as you may already know if we enter a MLM to build our business, we will have people that are already building their businesses above us. The idea is for us to get others building their businesses below us so we make commission from them. Ultimately you will be earning the person above you and the person that recruited you money.
Not many people will discuss this part when considering joining an MLM company. The reason for that is, the majority of people that join get the idea from someone actively encouraging them to look at the opportunity, IE being recruited by someone. But if you come to the conclusion yourself that this is a career option. You might like to pursue them you can have a look around to see who may help you to achieve more. Who you may have a better working relationship with.
I would like to target the people that are clearly on the move. People that are improving their influence on the company, these are generally the guys that are going to help you achieve the next level.
Chose an MLM company? There are numerous considerations, ultimately a network marketing business is 100% reliable on you.
Only YOU can succeed and only YOU can fail.
This is not a get-rich-quick scheme. It looks like it will be hard work and I will need to do this around my current job until I earn enough to transition. However, it gives me the opportunity to build a business of my own with little initial investment. I can plan to achieve certain levels in the long term, Antony Robbins said “People over estimate what can be achieved in one year and underestimate what can be achieved in five years”