Solid Advice on Evaluating or Entering Into Network Marketing
I actually wrote this as a response to an article that was written in Better Networker. I have had so many people respond to me personally about it, that I decided to post it here, as well as on my Blog. The question posed was simply, I am looking for an mlm company.....
Well, you can imagine the response that drew and of course the responses were focused on individual businesses. But I am not sure that was the purpose of the question. I decided to answer with more of a generic platform offering Food for Thought. I think we all need to do an assessment as if we are choosing the company we are in for the first time.
Well, first off you had better be passionate about what you do. If not, it becomes just another business. And I don't care what anyone says it is in the end about the money.. It is about creating a way for you to operate your life on your own terms. The way our system works, no matter the country, you have to make money to take care of your foundation or base, to free you up to be your most dynamic and creative self.
So if if you have the passion part down and it produces an income you agree with, you are headed in the right direction. Next step, integrity and alignment. Is this group integrous, what is their history, all companies have history no matter how new. Look at the people who created it and their background. What does the leadership in the comapny look like? Is it based on true success or are they false gods? Ask questions of people in the company as well as those that have left. Understand that people with negative comments may have an ax to grind which has to do with their inability to create a successful business. Get a response from several parties not just one. Every company leaves clues along their path.
How viable is their product line(does it have a very broad appeal, and will it appeal to a non network marketer, & is it set for them to do that simply...). If you are dealing with an actual product for resale, how big is the spread between your cost and the retail price, could you make money just off the sale of the product, and is the spread big enough that you can control special pricing events as well, & offer specials to your continuing users. Something I call an investment in your business- Loyal Customer Rewards!
I personally, because I have done both, prefer a product that is more service oriented, that does not require you to collect vast amounts of their product that you need to create space for. As opposed to an auto ship, there is a monthly service fee, and of course the headache of dealing with lost product is non existent, along with all of the other multiple warehouse issues. Most important question, Is there a strong need in the marketplace for the product or service? Remember the old adage, Find a Need & Fill It!
Make sure before you make your final decision , look at several different important issues: Does the person I am speaking with about this opportunity have experience, good political presence in the company and will they have the ability to represent your voice and business well inside, what does their business look like, and is it well run? What is the training like, is there support, does your upline or group in the company offer you training in skills you may not currently possess? Wanna be able to learn some online skills & need someone to help you, or vise versa? What is the culture within the company? Very simply, is their camaraderie with a healthy dose of competitive spirit, or is it mano y mano, and a lack of sharing information.
What is financial status of the company look like, what is their payout history, have they been on time, every time? The comp plan could look like the greatest one in the world, but does it offer the company stability as well as pay it's distributors well. Is it realistic or is it reliant on new monies to pay out bonuses w/o reserves to survive the ups & downs of fickle or weak markets? And, what do the people involved in the company have to say about their experience? Bottom line,are they ecstatic about being there and walk with pride in representation?
And also, a word to the wise, never ever fall in love with the company or the product. You are building a business that represents your name and your integrity, and your reputation. Can you create a solid business that you can bank on for years to come, if You decide to stay on that path. But remember you will continue to grow and evolve and need to ask yourself the above questions on a regularly scheduled basis to make sure you and your company are still on track.
Understand you are getting ready to build a business and put in a great deal of sweat equity and time. People have the tendency to, because some of the entry levels are so low, not take what they are venturing into seriously. I never go for things that are lower in entry, as I prefer to be with people that understand that you have to invest in your business to make money. That dollar amount can be different things to different people depending on their circumstances. I am sure there are many people that can offer you their opinion about that entry level issue. But it also has to match the market you are after. Where and who is your market and what is your personal influence? People build stronger businesses with people that either match them or their ability to communicate with a variety of audiences.
Multi Level Marketing or Network Marketing is big business, big money, and extremely rewarding. Treat it and you with the thoughtful insightful respect it deserves......
Best of success,