With one website alone listing well over 4,000 networking opportunities, you can be sure that there are probably many more than that number available. This is great for you in one way – you can choose a network marketing company with a product that is perfect for you, but on the other hand it is going to take you a considerable amount of research to find the right company. From cosmetics to healthcare to precious metals, it doesn’t matter which one you choose, as long as it’s a product people will continue to need.
Network marketing is two things: an opportunity for you to start a potentially rewarding and profitable independent business of your own, and you will also become part of a team.
There are a number of things you should take into account when looking for that perfect network marketing opportunity. Don’t just jump into something that you’ll regret later, you should be going into a network marketing business opportunity for the long haul. It can be financially devastating if you have to bail out after a couple of years and find something else. You need to start out with the certainty that the company you join is going to do its best to help you, unlike many who sell you a starter kit and throw you out into the world to fend for yourself.
Let’s assume you have already decided which kind of product you feel you could promote best, but you’re still looking at a list of 50 companies you could join.
Here are 6 things you should consider:
How old is the company, if it has been around for a number of years and has a healthy financial track record that’s good, and if they own their corporate headquarters that’s even better.
Look at the management team. Have the majority been there since the beginning of the company or are they always changing? Trouble at the top will mean instability for the entire company. If there have been recent changes, are the newcomers old hands from within the MLM business that have successful track records?
If you are considering an opportunity in a relatively new MLM (Multi-Level Marketing) business, the management team is the first thing you should look at. There has to be some expertise there. MLM is a unique business model that works in specific ways, and if the management team appears to have no experience in the industry, I would avoid that company.
What is Company’s Retention Rate?
You can usually figure an MLM company’s retention rate by how difficult it is to get in. If everyone is doing really well, there are going to be few openings in well-established and well-run MLM businesses. Opportunities that are posted on lamp posts around your city are probably a big no-no, if the company is constantly trying to recruit new people, the chances are there’s a high turnover because of bad product, poor commissions and inadequate training. You would never be able to retain a happy downline in this situation, and you’d spend all your waking hours recruiting more people.
The Compensation Plan
This has to be scrutinized very carefully if you are going to be able to build an income for yourself and eventually your team. Make sure you understand it, and if you don’t have a lawyer look at it if needs be, especially if there is a lot of fine print. Are you only going to be able to make a part time income, or can you become so successful you can generate a high six-figure annual income? If the answers you get are not satisfactory, move on.
Training is Vital
An MLM company that provides ongoing training may seem to be helping its people but will that training cost more than its worth? There may be a monthly fee involved for training or maintaining a website. Charging for a website is a sign that they are going to nickel and dime you to death – make sure you will be able to get your money’s worth if there is a fee.
Will the people in your upline be accessible at all reasonable hours to answer your questions? Does the person who is looking to recruit you answer your questions, is he or she a leader, and are they concerned about you? If they talk about themselves all the time, be wary – they should be asking you what your goals are for the future and helping you, not seeing how quick they can sign you up to collect a commission. Remember, if you have an upline that cares, you are the next step down until you recruit your own down line and pass all your knowledge onto them. If the people upstairs won’t help you, you will never be able to recruit and keep a happy down line.
If you weren’t exactly sure what kind of product you wanted to promote, make sure the company you are considering has an excellent product. It’s hard enough selling anything these days and if it’s overpriced and of inferior quality, then you are not going to be able to build a successful business. Evergreen and health products are the best. These are things that people have used in the past and will continue to use in the future. Promoting an electronic gadget that will be obsolete within a few weeks is not a good business idea.
If you were starting a bricks and mortar store, you would look at location, the kind of clientele you could attract, how well the landlord maintains the building and finally spend a great deal of time choosing the right products to sell. An MLM business is exactly the same; you want it to be your livelihood for the rest of your working days, so choose wisely and do your home work.