Multi-level marketing can be a good source of part-time or full time earning. If you are planning to join a networking business for extra income or for a full time opportunity, there are a few things that you must remember. There are a few network marketing opportunities that are just scams while there are others that have a poor track record. Whatever may be the reason, nobody will want to join or buy from a business that has no or little chances of survival. Below are some facts that one should know before joining a MLM business:
How old is the company?
Check how long the company has been in business. Statistics show that almost 90% of MLM businesses fail within 2 years of their start. To be on the safe side, it is better to join a business that has been operating for more than 5 years. This is to ensure that you do not invest your time and energy on a business that is not going to survive after the next month.
How’s the financial condition of the company?
Does the company that you are about to join have enough cash to maintain its growth, infrastructure, attract talented personnel in managerial roles, keep pace with the latest technology and most importantly pay your commission on time?
How are the products or services of the company?
Does the company offer products/services that are really unique? If not, then it probably will not be wise to join the company. It is difficult to convince and sell the products/services of another “me too” company because of the tremendous competition.
Are the products/services really helpful?
You might have heard stories about people ending up with a garage full of expensive water purifiers or other trendy items - the reason is there’s really no need for the product. The product must have a real need at a fair price and there must be a large untapped market for the product.
What’s the nature of the product?
Check the nature of the product as well. You cannot build a healthy flow of income with a product that has short term appeal. You should think long term. The product/service should be such that customers will continue to use it for a long period of time.
Is the company providing you with a marketing system?
Not everybody can be a good sales person on their own. Does the company provide a system that will help you build your network? MLM distributors usually use self replicating websites to promote their business. The replicating sites are usually pre-branded and can be customized to include a distributor’s unique information.
Is the person who introduced you to the system committed to being your mentor?
This is another important point. The person who has introduced you to the system must be committed in helping you building your network. Likewise, when you start developing your own network, you must be committed to inducting new people and training them.
Will you enjoy this line of work?
This is probably the most important point. Will you enjoy this work? Do you enjoy connecting with new people and building relationships? If you do, then you will succeed. Otherwise it may be difficult for you to continue.
How old is the company?
Check how long the company has been in business. Statistics show that almost 90% of MLM businesses fail within 2 years of their start. To be on the safe side, it is better to join a business that has been operating for more than 5 years. This is to ensure that you do not invest your time and energy on a business that is not going to survive after the next month.
How’s the financial condition of the company?
Does the company that you are about to join have enough cash to maintain its growth, infrastructure, attract talented personnel in managerial roles, keep pace with the latest technology and most importantly pay your commission on time?
How are the products or services of the company?
Does the company offer products/services that are really unique? If not, then it probably will not be wise to join the company. It is difficult to convince and sell the products/services of another “me too” company because of the tremendous competition.
Are the products/services really helpful?
You might have heard stories about people ending up with a garage full of expensive water purifiers or other trendy items - the reason is there’s really no need for the product. The product must have a real need at a fair price and there must be a large untapped market for the product.
What’s the nature of the product?
Check the nature of the product as well. You cannot build a healthy flow of income with a product that has short term appeal. You should think long term. The product/service should be such that customers will continue to use it for a long period of time.
Is the company providing you with a marketing system?
Not everybody can be a good sales person on their own. Does the company provide a system that will help you build your network? MLM distributors usually use self replicating websites to promote their business. The replicating sites are usually pre-branded and can be customized to include a distributor’s unique information.
Is the person who introduced you to the system committed to being your mentor?
This is another important point. The person who has introduced you to the system must be committed in helping you building your network. Likewise, when you start developing your own network, you must be committed to inducting new people and training them.
Will you enjoy this line of work?
This is probably the most important point. Will you enjoy this work? Do you enjoy connecting with new people and building relationships? If you do, then you will succeed. Otherwise it may be difficult for you to continue.
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