Choosing the Network Marketing Company you will represent is the most important career decision you will make for probably a decade or more. You are aligning yourself with a business, a product, and a sales organization. You should regard this decision seriously, for this commitment will be a long-term endeavor. Your days, and probably your evenings, will be filled with recruiting, training, and sales. Here are some sure ways to pick the right Network Marketing company.
Choosing the right fit for you and your company will not guarantee a successful career in network marketing, but it will definitely move the odds in your favor. The bottom line in Multi-Level Marketing, just like any field, is determined by your personal performance level. If you recruit, sell, and mentor other recruits, you will be successful. If you provide a legitimate product, back it up with a guarantee, and sell with enthusiasm and positivity, you will generate sales.
Your excitement about the product and the organization will make your job easier and definitely more enjoyable, plus you will be enthusiastic when talking to prospective distributors for your company. If you believe in the product and the company, you will convey this confidence in your attitude and your demeanor. The faith you have in the security of your company will be revealed by your voice and your countenance.
Finding the right company is like finding the right pair of shoes, you may try on many, but few will fit in just the right way. A company is similar, there are many choices but probably only a few with which you feel comfortable from the moment you try them out.
How do you make the right decision? Here are the 5 tips to help you choose the right MLM company:
How To Choose The Right MLM Company: Top 6 Tips
1. Look at the stability and longevity of the company
You should consider the stability and longevity of the company. It’s possible to jump on board with something new and achieve the heights of success, but one way to make success far more likely is to go with a system that is proven. Think of the most commonly known examples of multi-level marketing companies – Amway, Avon, Mary Kay Cosmetics, etc.
Why are these companies so well known? One reason is they offer high-quality products, and they have a system that flat out works. Remember Avon has been around since 1896! They must be doing something right.
You can’t go wrong by going with something that is proven to work. That doesn’t mean you have to go with the oldest company around, but you should consider the history of the company. If you find a company that has only been around for a year, it might fail. It may be that the product is a fad product and not sustainable over the long term. Some companies end up in legal trouble for various reasons, maybe they are selling a bad product that could harm consumers, or they are a veiled pyramid scheme that isn’t the best fit for sincere people who want to do network marketing as a legitimate business.
So, longevity is clearly in the companies favor. If a company has been around a long time, we know that:
- It’s selling products that the buying public wants.
- It’s not primarily based on short-term fads. The company probably adds new products to its line, but it probably has a secure base that works in evergreen fashion.
- The company treats members well; it won’t survive if people are not able to become successful multi-level marketers.
- It’s not getting into constant legal trouble.
- Simply put – it has a proven system that works to move product and make for successful multi-level marketers.
Also, look at the earnings of the company. Are they growing, or at least stable? A long-term company can be a sinking ship. So make sure that even if the company has demonstrated longevity that it’s still pulling in respectable revenues that are not declining.
Stability fits in with these points listed here. As we said with Amway, it had even been investigated by the FTC for being a pyramid scheme, but they found out that was not the case. Amway has been around for more than fifty years, making it a solid bet – it’s legal, it sells products people want, and with more than $8 billion in sales, it’s making money.
But keep in mind that longevity isn’t everything. If you used longevity as your only criterion, you might be stuck with IBM and have missed the big four. Quite often, new companies burst on the scene that offers high-quality products that they can use to establish themselves in a solid niche. It’s important that you go with something you’re passionate about over simple stability. If you are bored with Amway’s products, you’re not going to be a good fit for them.
While Amway and Avon have been around a long time, you might look at companies that are relatively new but have been in operation for more than a decade, so show some stability. One company that fits that profile is NHT Global, which offers a wide variety of products that can be sold via e-commerce with annual revenues of around $1.5 billion.
2. Evaluate the products and services
Before jumping on board, you will want to actually check out and use the products and services offered by the company. If you’re going to be effective at selling something, you’ll want to know that product inside and out. Suppose that a company was selling a keto diet meal plan, home delivered. Do you think you’ll be more successful selling that product to others if you’ve actually eaten some of the meals? What if they taste lousy, or are too hard to make? You will look shallow and foolish if you are trying to sell something you really aren’t familiar with.
Also, you’ll want to evaluate the products and services offered by these companies so that you’re more likely to choose a winner. If you can actually experience the product and see that it’s high quality, then you’ll have more confidence in going with that company because you’ll know it will be easier for you to make sales and have happy customers. You may also find subtle differences between different products and services, helping you weed out similar companies to find one that is most suitable for your goals.
3. Learn about the compensation plan
Do you understand the system of compensation? Is it clear to you exactly what is required of you to make the best possible paycheck? Do you have a reward or bonus with each new recruit, or do you have to recruit dozens before you can make a good bonus? Do you have specific requirements regarding inventory or purchase volumes? Do you know what the average income is per level, and how long it takes to move up in commission? Are the paychecks issued weekly, monthly, or by some other method? Do you draw a salary plus commission, are you directly on commission only, or do you “draw” against future commissions or sales? Is there a tier or level that changes the compensation?
4. Pay attention to the team you are joining
When you join a network marketing organization, you’ll begin by joining an existing team, and then you’ll be building a team of your own as you begin to grow your own business. High commission rates are good, but you’ll also want to be comfortable with your team.
- Are these people you are comfortable spending time with?
- Do they seem honest and sincere?
- How do their goals align with your goals?
- Do they share your same values?
Evaluating the team you are joining is as important as evaluating the products and services the company offers. If the team is not a good fit, you aren’t going to be happy and may not do well as a result. When you need training and mentorship, if you don’t feel comfortable with the team members, you may avoid getting all the help you need. Instead, look for a team you gel with, and your success is more likely. If you can’t get along with the team at the first company you look at, consider finding a new one instead.
When recruiting your own team members, you’ll want to consider the type of person that you want to recruit. For example, are you going to prefer educated team members? While a college degree may not be a requirement, you may find that requiring more education can help you filter out inappropriate team members. You’re also going to need to know their life goals. Are their life goals consistent with yours? Obviously, you want team members that have consistent goals so that you’re all working toward one end.
What’s great about today’s world is that while the old methods of building MLM teams are still around, it’s also possible to leverage technology to recruit team members. You can start by having your own website and collecting email addresses of people interested in joining. Write a blog about your network marketing venture to drive traffic to the website. You can also leverage Facebook and Twitter to find new members, and you might be able to employ digital advertising. One advantage going to the web has in getting your network marketing business off the ground is that you won’t have to plead with friends and/or family members to join you on your MLM adventure.
5. Check if the company offers free training
Are you required to purchase a training kit? Is the cost excessive (over $100) to buy into the program? Are the conventions located in a convenient location for you? Will it be very costly for you to attend the required events?
Most MLM programs have monthly, and even weekly meetings with the new recruits. Will you be able to attend these meetings or are they located more than 50 miles from your home? What are the repercussions if you don’t attend them faithfully?
When you are required to attend training events, who pays for the training? Do you have to purchase DVDs or special notebooks, books, or manuals? All of these considerations can add up to a significant cash outlay for the new distributor that has not established a regular income.
6. Determine if the business fits your goals
Aligning with the team is important, and so is aligning with the company. In order to maximize your success, you’re going to want to seek out a business that fits your goals. First and foremost determine whether or not the company will help you achieve the financial goals that you’ve set out to achieve. Remember that you can’t take shortcuts in life, and if you’ve set high goals, then you need to find a company that can deliver those results if you put in the hard work. You are not going to want to be joining up with a company that will limit your financial and personal growth.
You’re also going to want to look at the values of the company as well. Do you believe in the company’s mission and the products or services they offer? Do they share your views on the environment, health, and religion? If not, then you might be better off looking for a different company. There is no shortage of good MLM companies these days so don’t think you have to get on board with the very first one that you find.
Making The Final Pick
To summarize, you’re going to want to learn:
- When was the company founded and how long has it been in business? Has it been embroiled in any controversy or even legal trouble? If so, how did those situations work out?
- Educate yourself on the team members at the top! Learn who they are and what their backgrounds are. Are the members in the c-suite well-suited to the long-term success of the company? Are they outsiders or did they work their way up?
- Evaluate the company’s products or services. You should obtain samples, buying them if necessary. The best way to know the company is by using its products. Do you want to attach your name and personal reputation to a second-rate product?
- Know the company’s compensation plan and study its advantages and disadvantages.
- Determine how much time you’ll have to spend training, mentoring, and team building. While network marketing derives profits from the sales activities of new members you recruit if too much effort must be devoted to activities related to recruitment, how much time is left over for sales? Remember that ultimately you have to sell actual products. Examine the ability of the company to help you reach your ultimate financial goals.
- Determine if the business aligns with your values.
- Do the products the company offers align with your passions? Remember to choose a niche you are interested in so you can maximize success.
Remember, the world is full of network marketing companies – you don’t have to settle. At the same time, you don’t want to keep pushing goals forever to the future by not picking one and going with it. When you’re just getting started, you should probably move forward with a company and see how it works out for a few months. If it isn’t to your liking for one reason or another in the future, there is no rule that says you have to stick to that company for life. Value the fact that you’re more experienced with network marketing, and find a new company that is a better fit.