When you are just beginning in this business, it is important to choose a company that is a good fit for you. Here is a list of things that I investigate and think about. Take the time to do your research. There are stories of people putting their heart and soul into the new latest and greatest MLM , only to have the company fold after only a year or two.
1. Funding (especially if it’s a new company). Take a look at as much financial information as you can gather. It’s easier to find this on publicly traded companies, but private companies will offer some information if you ask the right questions. You can use the internet and the phone for this type of work.
2. Along with funding you want to clearly understand how much debt the company has, as this has the potential to effect your future earnings. Also try and look at a dept to earnings ratio if you can find that.
3. Read as much as you can about the founder(s) of the company, the CEO and the upper management. You want to know about their history in business, both financial and ethical. Many
4. Understand the compensation plan!!
There are 4 main types of plans:
There is a huge amount of information about this. For this reason, click on the following link to read an article about compensations plans. Follow the author’s links for details about each type of plan.
Compensation plans information.
5. Learn all that you can about the product. Some companies have just a single product, some have a line of products. Ask yourself questions like:
What is my area of interest? (examples: nutrition, skin care, cleaning, books….)
What type of product fits in with my lifestyle and beliefs?
Is this a product I would use myself? (if not, it’s probably not a good choice for your business).
Are you concerned with the environment? Do you prefer organic products, or fair trade certified products?
Has the company won any awards in it’s field? Is that important to you?
6. In what scenerio’s are you most comfortable selling?
Some network marketing companies rely on home parties, some on one-on-one contacts, some on large meetings with a speaker and a flip chart. What do you imagine you’d prefer?
7. Read about the Direct Selling Association and see if the company you’re researching is a member. Be aware that newer companies might still be going through the process of becoming members. Some companies might have chosen not to be members. That’s not necessarily bad. It’s just information for you to have in making your decisions.
Take all these areas of research and the questions and put them in a format that you can use. Some people prefer a large piece of poster board. Some prefer an outline on the computer. Whatever works best for you will be what is most useful. Answer the questions. Do your research. The best company for you will become clear.
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