Effectively the big choice has been made and you’ve chosen to join the Network Marketing Home Business Industry. So now that’s out of the way the next decision is which company to join and how to make your mind up?
This is a fundamental question as it will have a substantial impact on your life 3-5 years from now. When you will be investing your time, money, mental and emotional energy into building your business, as well as putting your personal reputation on the line, you need to make sure you are joining the right company.
Consequently what specifics should you take into account and which questions ought you raise when evaluating the huge array of companies in the market?
At this juncture here are several factors to think about:
Board of Directors/Vision and Track Record.
Product/Service – Price Point
Even if all these factors are valuable, the decisive issue will be discussed at the end of this article.
Board of Directors/Vision and Track Record.
Research the Board (management team); look into the personal history and reputation of each member.Figure out if they have an outstanding background of success? Are they ethical? Do they have a reputation built on integrity?
In identical measure do they have a vision for the future? What plans are in place for creation and market improvement, future expansion and diversification? If it’s a national company, do they have global development plans, and if already global, what, and how good is the worldwide sponsoring infrastructure in place?
The product/ service being presented through the Network is clearly important:
1). Is the product fundamental and used daily? (Note Amway built a vast business on soap!!)
2). What is the price point and is this competitive?
3). Who /What is the target market and how accessible is it?
4). Is the product guaranteed, and how is it received in the market?
5). Is there a stable of products available?
Mainly new entrants to the MLM Home Business arena hold little or no prior experience in either managing their own business or designing lucrative network organisations.
Does the company offer structured training? What is the quality? Is it systemic?
Bear in mind the point of Network development is leverage and duplication and the capability to control both time and mobility because of ongoing residual income.
Is the training of enough vigor and quality to train your team remotely? i.e. is it your job, in the main, to simply introduce people to the system and let the system do the work?
Or will you have to allocate a large quantity of your time to training?
Evidently a comprehensive knowledge of the compensation plan is essential: In what way is the money generated? How many levels in the plan do you get paid? Is it possible to pass your upline?
Is the plan realistic on a reward vs. effort foundation? (i.e. is the plan of even advantage to both distributor and parent company?)
What portion of the revenue is paid back to the distributor channel?
Is the plan structured to allow the achievement of your monetary goals in a fair and reasonable time scale?
It is also worth examining your sponsor, and though they are not vital to your success (only YOU are responsible), it will definitely the whole process easier if they know what they are doing, are already successful and understand the skill/value in drilling depth into an organisation.
Every one of these questions are central, however, it is absolutely critical to understand whose business you are building.
A large amount of distributors in the Networking industry are, to a large extent “glorified sales people” focusing on building the parent company’s business and not their own!!!
Life and conditions transform.
It has been known for distributors, after spending countless years building a flourishing network, to have their distributorships terminated, and in that split second lose all the residual income.
Besides, companies, management boards, marketing strategies do alter. It is not unheard of for a business to make use of the Networking model to create a customer base to the moment of “critical mass”, and then dispense with the network channel, leaving the distributor base high and dry.
Please note these comments are not intended to be off-putting and an indictment of the Networkng Industry, just the powerful realities of life.
As a result while choosing which MLM organisation to join, a question of equal weight is how to protect your future independent of the parent company?
Thankfully the answer is simple:
The Marketing Platform, built on Attraction Marketing principles, is the decisive ingredient:
Brand yourself as a Leader.
Build your own database of people.
Build relationships with these people.
This is an asset of major importance over which you have complete control.
Then if the host company does alter the rules, move the goal posts, or move in a route in which you are unhappy, you can instantly promotea further MLM business.
It is also wise to ponder the benefits many income streams and diversification of risk!!
Never forget… YOU ARE THE LEADER OF YOUR OWN BUSINESS