New research released by Civic Ventures, suggests that more than 12 million Americans, ages 44-70, want to start a small business, if you are one of the 12 million, the “brick and mortar” model may be monetarily out of your reach. Why not give Multi Level Marketing a try?
If you decide you would like to get involved in a quality MLM , let me share with you what actions you should take before you sign on the dotted line.
Investigate the company
If you’ve never heard of multi level/ network marketing, go online and do your research. There is a wealth of information out there. MLM.com and Npros.com are good places to start. Does the company have a stable track record? How does it do business? Is it on ethical grounds? Identify if the company’s values match up with your own.
Find a well established company
You’re looking for an experienced company that has been in the business for at least 3 to 5 years, more than that is even better. You want a company that has surpassed the initial survival phase and is now in the growth stage, in order to increase your chances of being successful. Steer clear of the fly- by- night MLM if you’re looking for a long lasting business.
Select a member of the Better Business Bureau
It is always a good idea to join a company that is a member of the business bureau or registered with the Direct Selling Association. This not only ensures the company’s reliability, but also gives you a place to voice any complaints you may have regarding the conduct of the company.
Investigate the Product
Along with Identifying the MLM company is sound, it is also important to know about the products the company has to offer. Remember, your success in the network marketing arena ultimately depends on the sales of the product you are offering. Is the product marketable? Do you yourself like the product? This is especially important, if you don’t like what you’re selling how can you or why would you encourage someone else to buy. Don’t make things hard for yourself. If you like the product, it will be that much easier for you to market it.
Is it reasonably priced? Is the product a consumable? In order to generate residual income, you want to select a product that needs to be replenished on a regular basis. This increases the chances of repeat sales and ultimately passive income.
Investigate the Compensation Plan
Its important to understand a company’s compensation policies before jumping in. You’ll want to find out if the compensation is based on sales or recruits? Remember, it’s considered illegal practice if a company pays commission on the number of recruits, and if there is no useful product, RUN! MLM compensation plans should be based on product volume first, and of course the bigger the team you develop the more volume you can push.
Find out what the initial start of fee is required to become an independent owner. If the investment is relatively high, over $500, be careful as some fraudulent companies will ask you to pay huge sums of money upfront. Run from them as well.
Investigate their Training Program
A good company will provide training for new mlm marketers. This is a must. The more training they can provide the better the chances you have to be successful. The last thing you want is to connect with a company with high hopes, only to be left to figure it out all on your own. The one thing I love about Network Marketing is that everyone involved has a vested interest in your success. If you find that NOT to be the case in a company, turn the other way.
Investigate your Potential Sponsor
So you find the company you would like to join, you’ve done all the investigative work and you’re ready to get started. Please, Please, Please make sure you don’t just sign up with the first person you find that is involved in your desired business opportunity!
Make sure this person is well informed about the corporation, its product, and it’s compensation plan, at least. Go to meetings with your potential sponsor to make sure that you feel comfortable with the group. More than likely you will be showing the plan to others and inviting them to this same group of people, and if you have any doubts or are less than inspired, chances are the people you share the business with will be less than thrilled as well.
Remember, this will be your up-line for the duration of you business. You are always advised to consult with your upline in the beginning of your venture if you have any questions or issues. If this person is not completely competent, you’re gonna have problems. Yes, you are in business for yourself, but you’re not suppose to be alone. Network Marketing is about helping people achieve their success. So be choosy when choosing.
To sum it all up, a quality company comprises of people who are committed to products that actually help make people’s lives better, which see their distributors as their assets, and have a promising compensation plan that pays well in return for efforts.
If you follow these guide lines it will help make this process easier and you will be more than able to make an informed choice when prospecting a new mlm.