Whether you’re trying to choose your first MLM opportunity, or you’ve been in the business a while and are looking at different options, there are a few things you need to check out and evaluate.
There is a lot of advice out there for choosing a business, and much of it emphasizes some of the same things I do below. Quite often, though, the big thing that may best determine your odds for success is really not given a lot of attention and focus.
So, how do you choose the best MLM opportunity for you?
Do You Focus on the MLM product?
I’ve said it many times, and stand by it – you should evaluate your product before looking at the compensation plan. The market is very competitive, and MLM products that are of marginal quality or built around trendy fads won’t likely get you a long-term residual income, no matter how great the comp plan is.
Is the Compensation Plan the BIG Thing?
The comp plan is very important. If the plan is lucrative and pays well, and gives the new rep a real chance to make some money quickly, it’s a winner and will attract quality people to the company. Paired with a winning product, a good compensation plan will drive growth and create huge momentum. All good.
Does the Company Track Record Make a Difference?
Absolutely. New, ground floor MLM opportunities are risky, go for it if you don’t mind the gamble. Otherwise, go with a company that’s been around a while and look at their track record, and the founders. Google the names and see what people are saying and check out the reputation.
ALL of these things are important when trying to choose the best MLM opportunity to join. However, once you find a business that scores well with the above criteria, what happens after you join? What can make or break you in your first six months? What is the key to choosing the best opportunity?
Support and Training. Period. This isn’t always emphasized, and it should be. Unless you are already a proven leader who can hit the ground running without help, you’ll need some guidance and assistance during those first few weeks or months of business. It really isn’t enough to give you a “success guide” that says make a list of 250 warm market friends and start contacting them. While that can be effective while you’re working to attract non-warm market prospects, you really need more than that.
For whatever MLM opportunity you’re considering, ask yourself these questions.
- Will your upline leaders be available, in person or by phone, to help you as you’re launching your venture?
- Will your upline leaders take time to do 3-way calls with you and your first prospects, to help you learn how to do this?
- Are there good online and offline tools (videos, PowerPoint presentations, etc.) to help you present the business without having to explain everything yourself?
- Leads are the life of your MLM opportunity – does your training teach multiple ways to generate leads and find prospects both online and offline?
The big thing that determines your odds for success is learning how to find leads for your business. Your product can be the best, your compensation plan might rock, but if you aren’t taught how to find leads, you chances for success pretty much go down the drain. Getting this support and training first hand, from successful leaders with proven track records, is the key to your success.
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
Eldon,
Great posting and I love all the points. Plus, all of them are valid so wonderful job.
I’ve been involved in the industry for a long time and can personally tell you that the product is usually the qualifier. So many times I hear “the product doesn’t matter”, and I even thought that in the past.
As it turns out, it really does. If you are not passionate about the product and what it can do for those who use it, how to you expect yourself to be enthusiastic enough to sell it. No convincing… just let the passion flow.
-Dereck
That’s it Dereck, if you aren’t passionate about your product, people can tell and it will make it harder to sponsor!
This is a great post Mr. Eldon Beard. It is always important for us to really study the mlm opportunity and evaluate it for what it truly is. Many times you can simply just get caught up in the idea of hitting it big. This lottery mindset is not helpful and usually leads you to premature quitting. With the information you have provided you will allow people to build there mlm business into a blessing and not just an opportunity. Thank you Mr. Eldon Beard and God bless you.
Thank you Justin, I appreciate it!