In my last blog post we talked about the difference between a pyramid scheme and multi-level marketing.
You learned that there are some really great multi-level marketing companies out there that really do offer the opportunity to build wealth. Now let’s look at 8 tips to help you chose the network marketing company that’s right for you…
1. Do your homework before jumping into just any opportunity.
2. Be sure you love and believe in the product and company.
3. Research the comp plan. Weigh the pros and cons.
4. Is the product consumable or do your customers need to replenish and purchase your product often? That’s key to MLM success.
5. Be sure the investment to become a distributor is reasonable. There are many reputable network marketing companies that only require you to invest $100 -$200 for personal product to become a distributor.
6. How much money do you have to spend each month to be able to receive the full compensation available? Be sure the monthly personal volume required to be qualified is realistic. It’s usually the amount that you would spend on your own personal product. If there are big sales quotas or large amounts of product to buy each month, beware.
7. Is your sponsor someone that will give you the support and training needed to help you build your business? Are they available to talk to your prospects with you (3rd party validation)?
8. Are there product and opportunity training meetings in your area? The more you know about your products and the opportunity the easier it will be to grow your business and recruit more people into your downline.
These are a few of the most important things to consider when deciding on a Network Marketing company. Please take all of them into consideration when looking at multi-level marketing opportunities.
As an online business coach, I’ve mentored all kinds of business to consumer and business to business clients. Some sell their own handicrafts, others create and sell digital products and some offer a variety of services online. The one thing they all have in common is multiple streams of income. For instance, most do some kind of affiliate marketing, others sell ad space in their newsletters and on their websites and many have more than one JV partnership that creates yet more streams of income. I never recommend my clients to put all their eggs in one basket.
Of course another possibility I sometimes suggest for an additional stream of income is multi-level marketing. I have a surprising number of clients that are building a Network Marketing business as well as their online business. Then there are those that are completely focused on their MLM and are building a big business and wealth in the Network Marketing industry.