To be successful with a network marketing opportunity, it is important to do a good job choosing the company and product that makes sense for you.
All too often, new marketers make the mistake of choosing an opportunity based on hype and glitter, an appearance that may not be so real once they get “on the inside”.
Here is a reality – not everyone is naturally suited for a network marketing home business. It is VERY easy to start one, and I firmly believe that virtually anyone can make money at this (even if they are not a “natural” in the beginning). The key is due diligence in choosing the opportunity, then hard work and a willingness to face fears and shortcomings – and overcome them.
Here are some things to consider when choosing the right network marketing opportunity for you.
1) How long has the company been in business? In reality, even an established company can fail, but this is at least a relative indicator. Some new companies launch aggressively and get killed by growing too quickly and imploding. Others are poorly managed and doomed from the start. After 3-5 solid years, the odds are much better and chances of building a long term income you can depend on are improved.
2) Find out who the founders are, and who comprises the primary management team of the company. Google the owners and top management figures and look for reputation….sadly, some people start MLM’s that fail for various reasons and then go start another and another….with the same result. Due diligence in checking this out is a good thing.
3) Do a scam check. Google the “company name + scam”….check activity….almost every opportunity will have a few people calling it a scam and relating a bad experience. That is normal, because there are always unhappy people who want to blame the company for their failure. If you see a few complaints don’t be too concerned…but if there is a strong pattern of complaints, bad reports, and negatives then this is a red flag.
4) If you are so inclined, do some sponsor interviews. Take time to talk to potential sponsors and get a feel for who you’d enjoy working with. You want to work with someone you are comfortable with, someone who is committed to the opportunity. I wouldn’t ask how much money they make (or whether they are full time with the business) and expect the answer to predict YOUR chances of success, as some opportunity seekers tend to do. Much more important is working with someone who is committed, you feel comfortable with, and with a team that will give you encouragement and support.
5) Your network marketing products! I have always emphasized this, and can’t say it enough. Your products or services are the foundation of your success. You have to realize that the most incredible pay plan is worthless IF the product is marginal or not popular with your target market in the long run.
Ask yourself:
Do I personally like the product and feel excited about sharing it (as opposed to just thinking “hey this will sell a million” and looking mostly at dollar signs)?
Is the product based on fads that are likely to pass? For example, there are many excellent MLM opportunities that focus on nutritional products – some with established and sound scientific research behind them and others built on hype and the “latest hottest” berry or some newly discovered miracle mineral. If you desire long term income with a network marketing opportunity, think long term about the products. Ask yourself, honestly, is that product going to be around in 5 years or likely to be pushed into oblivion by other hot trendy products that emerge?
I hope these tips will help you choose the right network marketing opportunity. If you found these tips helpful, please share them with others (share buttons floating right there on the left).
Did you get some value from this post? If you did, I would really appreciate you sharing it with others! And, your comments are welcome below!
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About Eldon Beard
Great tips Eldon! I couldn’t agree more about the value of doing our homework before jumping into a business – any business. The beauty of the internet is it’s easier than ever to do that homework from the comfort of home – it just takes time and I think a realistic sense of what you really want to achieve, and what you’re willing to give to the business to make that happen.
Thanks Marquita, and I agree that “what you’re willing to give to the business to make that happen” is important. You can do all the homework, due diligence, etc. but your network marketing business doesn’t grow until you put the work into it.
This is a good list, Eldon. Two more I would add…
1. The compensation plan should pay part-timers well, because that’s what the majority of network marketers are. If it’s worth their time, they are far more likely not to quit.
2. There should be a system for success that is easily duplicated by your team. There should be complete resources available: books, videos, audios explaining the system, as well as one-on-one coaching readily available.
Willena Flewelling
Hi Willena, those are excellent additions to the list. The duplication thing is important, but as you point out it needs to be easy and simple. Something anyone can do over and over to build their business effectively.
Eldon, this is great information and particle. I believe that you can create any home business only after you have a solid foundation. Product purchasing has its place yet not a business. It is a sales subcontracting situation. Like what we did in the 70’s with Amway.
If you do your research and keep it real by leaving out the greed and fear things will be great. You have to build a real foundation. Just remember this is a lifetime journey and not a race.
Looking at the payment plans and getting to accept them has nothing to do with if your business is real or just another sales position. Yet, you pay for all the advertising and long hours without payment. You put in more than you will ever get out if you did not create the product line.
Think about it, a company is giving you the honor to join them while you pay x amount until you get some others to do the same. You must keep paying them month after month even if you never recruit anyone else. Now, tell me how is that a business?
I know a business is created with a foundation. Then finding your passion and learning how to use it to service the needs of others. That is a real business and doesn’t cost you money to purchase junk. You also show people how to find their inner passions and do the same.
No monthly fee and product purchase requirement to have unlimited prosperity including revenue. Now that is a real business.
Eldon, I will make it a mission to get involved with seeing this site. This is my first visit to your location and have not seen articles like this in so many years. Thank you for bringing me back to remember those days which truly took energy and time away from loved ones for the dream.
Thanks, William, I appreciate your thoughts!
Thanks a lot for sharing this very informative one. There are so many network marketing opportunities online but you have to take some time to know more about it.
Appreciate it, Nicholle!
This is very helpful tips! Doing a background check is one of the best way to know if the company has a good reputation. Well the internet world is huge that is why we need to choose the right network marketing opportunity that soothes us.
Hello Eldon
I appreciate all the tips in this article. Very well written. I could really use some a few back links. I’ll try to write something constructive here. I’m just cutt’n my teeth and learning this business of driving traffic to my website. Regarding this business we are in, speaking in generality with regards to sustainability and duplication of web traffic, these are the two main caveats which could make or break a business. Unfortunately, sometimes sustainability can’t be proven immediately. Also, there are outliers which can create sustainability out of sheer habit. And when I got into this business, it was the deciding factor. I would love for you to take a quick peak at my website.
Best,
Jody Heath
Neucopia.