There are people daily who are seeking to become entrepreneurs. They look at their savings and possibilities of financial funding to start their own business and they realize that financing may be impossible. So these entrepreneurs look at a way to start a business with little funding. They look at network marketing but with so many companies, choosing the right network marketing company is the most important starting point.
Here are 8 pieces of advice I will give you in choosing the right network marketing company.
Choosing the right network marketing company advice #1: Research
So many people just “jump” at the first network marketing company that comes along. It is important that you “dig in” and find out more details about the company. You will want to know:
- How long have they been in business. Keep in mind that many new businesses fail.
- The leadership. Do the leaders have a strong background in network marketing and business?
- Look for any possible lawsuits or legal inconsistencies.
- It is also wise to take a look online at reviews. Do keep in mind that every company will have some negative reviews. But you need to weight the positives and negatives.
Choosing the right network marketing company advice #2: Are the products or services unique?
If you are trying to sell products or services that are essentially the same as 10 other MLM companies, do you think you will be successful?
Believe me, it is much easier to sell an item if it is somewhat unique.
Choosing the right network marketing company advice #3: Do you have passion?
It is very important that you have a strong passion for the products or services you are offering. You need to use them yourself and have a love for them.
Just consider this – would a 50 year old man who has never allowed lipstick on his lips (well, except when his wife kissed him) do well selling Mary Kay lipsticks?
He may sell a few, but without that love and passion for the product, I doubt he will drive one of those pink Cadillacs.
Choosing the right network marketing company advice #4: How far can you reach?
One of the key factors in building a huge network marketing business is recruiting team members. It comes down to building a strong downline.
It is important that you understand just how far you can go for team members. Is it only in the U.S.? Can you attract people from Canada, Mexico, South America, etc…? MLM is huge in places like India and Australia, so you need to completely understand how far you can reach and if the company has plans of expanding.
Choosing the right network marketing company advice #5: Does the company compensation plan meet your expectations?
I cannot count the number of people who have joined multilevel marketing systems without understanding the compensation plan. It only makes good sense that you understand how you will make money before you dive into a home based business.
If you are applying for a normal job, you will ask how much your salary will be. It just makes good sense that you do the same before starting a network marketing business.
Choosing the right network marketing company advice #6: Will your sponsor be a strong support?
If we were to interview 100 people who quit their network marketing company within 3-6 months from joining, I would predict 60 of them would claim they quit because their sponsor did not help them or answer their questions.
You DO need to look closely at your sponsor. You are going to have a relationship with that person. Treat it similar to a marriage. Will you be able to have a relationship with that person? Will they help you? Will they provide the training you need?
Choosing the right network marketing company advice #7: How can you market?
This is quite important! Some network marketing companies will not allow their representatives to market via their own websites or blogs. You need to understand all the options you have to market the products and/or business opportunity.
Choosing the right network marketing company advice #8: Are the products or services reasonably priced?
If the products are priced far above comparable products, selling them may be quite difficult. While slightly overpriced is okay, if they are way overpriced, you will feel a lot of stress from rejection from price objections. You really need to research if the products are priced in a way that will make selling them not stressful.
Just like any other traditional business you may consider starting, you would dig in deeply before investing your money into starting that business. You really need to use that same approach in a network marketing business start up. Treat it as if you were investing $50,000, $100,000 or even $500,000.
I want to give you another great resource once you have decided on that network marketing company you will join… The name of the game is recruiting and we have an app that will make recruiting much easier. So go check out Rocket Recruiting here.
Success is right there in front of you!
Thank you for visiting and may your network marketing business lead you…