Network Marketing -Which Business to Join?
Network Marketing -Which Business to Join?
MLM Home Business - Which Company to Join?
Clearly the significant decision has been made and you've decided to join the Network Marketing Home Business Industry.Therefore now that's out of the way the next questionis which company to join and how to make a decision?
This is a significant question as it will have a substantial influence on your life 3-5 years from now. As you will be investing your time, money, mental and emotional energy into constructing your business, as well as placing your personal reputation on the line, you need to be sure you are joining the right business.
As a result what facts should you deliberate and what questions must you put when evaluating the huge choice of companies in the market?
At this juncture here are a number of factors to ponder:
Board of Directors/Vision and Track Record.
Training
Product/Service - Price Point
Compensation Plan
Sponsor.
Although all these factors are significant, the key matter will be discussed at the end of this article.
Board of Directors/Vision and Track Record.
Investigate the Board (management team); look into the personal record and reputation of each member. Do they exhibit an outstanding history of success? Are they ethical? Do they have a reputation founded on integrity?
In equal measure what is the vision for the future? What plans are in place for creation and market enlargement, 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 global sponsoring infrastructure in place?
Product/Service
The product/ service being offered through the Network is clearly crucial:
1) Is the product fundamentaland used daily ? (Note Amway built an enormous empire 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?
Training System
Most new entrants to the MLM Home Business arena have little or no prior skill in either managing their own business or building successful network organisations.
Does the company offer structured training? What is the quality? Is it systemic?
Consider the target of Network development is leverage and duplicationand the ability to control both time and mobility by means of ongoing passive income.
Is the training of satisfactory vigor and quality to train your team remotely? i.e. is it your task, in the main, to merely introduce individuals to the system and let the system do the work?
Or will you have to allocate a large proportion of your time to training?
Compensation Plan
Clearly a comprehensive appreciation of the compensation plan is critical: In what way is the income generated? How many levels in the plan do you get paid? Is it possible to pass your upline?
Is the plan satisfactory on a reward vs. effort basis? (i.e. is the plan of equivalent profit to both distributor and parent company?)
What portion of the income is paid back to the distributor channel?
Is the plan structured to allow the achievement of your monetary goals in a fair and satisfactory time scale?
Sponsor
It is also worth taking a close look at your sponsor, andalthough they are not crucial to your achievement (only YOU are responsible), it will difinitely 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.
In Summary
Each of these questions are significant, however, it is essential to keep in mind whose network you are building.
For the most part 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 circumstances transform.
It has been known for distributors, after investing countless years creating a thriving network, to have their distributorships terminated , and in that split second lose all the passive income.
Besides, companies, management boards, marketing strategies do change. It is not unknown for a business to apply the Networking model to manufacture a customer base to the situationof "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 harmful and an indictment of the Networkng Industry, just the brutal realities of life.
Consequently whilst deciding which MLM organisation to join, a question of equal significance is how to protect your future independent of the parent company?
Luckily 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 overall control.
It follows that if the parent company does amend the rules, move the goal posts, or move in a way in which you are unhappy, you can instantly promotea further MLM business.
It is also wise to think about the benefits multiple income streams and diversification of risk!!
Never forget YOU ARE THE LEADER OF YOUR OWN BUSINESS
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