If you have read any of the many financial books on the market today, you will discover that the multi level marketing or network marketing industry is exploding. There are hundreds of companies out there. But how do you choose the one that’s best for you? This article will give you some tips and insights to make your decision easier.
Product
The product is the most important thing that you need to consider when choosing a multi level marketing company. You must be passionate about the product. Don’t just like the product or kind of like it, but totally and completely passionate about it. Why is this important? You are going to be recommending this product to your friends and family. Don’t you think that they will be able to tell if you aren’t passionate about it? Sure they will! Any hint of doubt will inflect on your voice, your mannerisms, and your ability to close the deal.
First of all, you should use the product for 30 days before you sign up as a rep. If you like it so much that you would use it even if you weren’t a reseller, then you have a winner.
Ask yourself this: If I tell all my friends and family about this product and they do not buy it, will I really care? If you truly are with the right product, you will not care. You will just keep on using it.
Other product consideration questions:
What other products are similar to mine in the marketplace and how does the pricing and quality compare? Is the product unique? What do I like best about my product? What do I like least about it? It should be a unique product or service with little or no competition.
How will I market this product? Online? Offline? Can you think of a marketing plan in 5 minutes or less? If you have to think about it, then it’s not the right product. If you have 100 ideas, just flowing out of your head, then you are on the right track.
What is your personality? Are you a fitness nut? Then maybe nutritional products are right for you? Are you ticked off at the current legal system? Then maybe pre paid legal. The product must match your personality.
Company
Learn what you can about the company. Who are the founders? What experience do they have? How long have they been in business? If you get a new startup then you might have to deal with growing pains and lack of support. If you are going with an established company, then your growth potential is more limited. It’s best to stick with a company that is one to five years old.
The company should be keeping up with the latest technology. Does the company have a website? How is it? Can people sign up directly on the website? Do they have an email auto responder system set up to follow up on your leads? Do you get a custom web page? Do they set that up for free?
Another important consideration is training. What kind of training does the company provide? Do you have to pay for it? How much is it? The training cost should be less than $100. If they are constantly pressuring you into going to expensive trainings that are $500-3000 (and there are companies out there that do that), then stay away!
What kind of people are involved? Anyone successful or famous? Anyone in there that has already made a fortune somewhere else? Has anyone in the company written any mlm related books?
The next area is compensation. Study the compensation plan. Run the numbers to figure out what you need to do to make each level. Talk to others in the company and figure out how much they are making. Ask them to show you their check. Make sure that they are making the check from actual product sales and not from sticking product in their garage.
Do your due diligence on the company. The following are a few websites you should look at in your due diligence:
Better Business Bureau- www.bbb.org
Bad Business Bureau- www.badbusinessbureau.org
Federal Trade Commission- www.ftc.gov
Finally, ask around. Do a google search. See what you can dig up. Don’t sign up until you are completely satisfied that the company is legitimate.
Bottom line, the multi level marketing business can make you extremely wealthy but you must do your homework to make sure that you are in the right company.
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