Network marketing is becoming much more popular and that’s a great thing. This distribution method allows everyone to begin their own business and ultimately decide their own financial future.
However, with so many network marketing businesses out there, how do you decide which one is right for you? Here are my top 10 tips:-
1. Choose a company that has a product range that you personally believe in, and will be happy to use. You will be recommending these products to other people, so if you can’t get excited about a company’s superior soap, maybe you should be looking elsewhere. Whilst it may of an initial benefit to work with a company selling products that people you know would be interested in, if you don’t have enthusiasm for the company then you will find it difficult to promote the products to anyone. Select a company with products that you can feel passionate about, even if that means your closest friends and family won’t be your biggest audience.
2. Choose a company that will offer you an intensive training and support package. Network marketing is great because although you are beginning your own business, you should never be alone. Find out before you commit just what level of support you will be offered until you find your feet.
3. Choose a company that offers a compensation plan that you will be happy working to. Particularly, find out when the earliest payable bonus is. The better companies will have an initial bonus that is quite easy to reach and which often will pay for your monthly product order. Enquire about whether the Compensation Plan has ever received an award.
4. Don’t decide whether the opportunity is right for you by how well the person you speak to is doing. Their level of success is no indication of how well you will do. This means that while there is no guarantee that you will be successful, there is also every chance that you could actually do better than the person you initially speak to. Ask general questions about how well people do in your country, how much the average person earns, how many people are at the higher levels of the business and how long on average they took to get there. Remember that results will vary depending on how many hours each week each person commits to the business.
5. Take internet reports written by third-parties with a pinch of salt. Remember that anyone with an Internet connection and a blog can claim to be an expert on any subject, and negative stories attract more attention than positive stories. Choosing which network marketing business you would like to become part of is a big decision, so don’t allow an anonymous Google search result to make that decision for you.
6. Research the company’s performance. You will want to be part of a company that is stable, profitable and has expansion plans. You don’t want to grow your business with a company that is treading water, so find out what the company hopes to achieve within the next 5 years. If the company is growing internationally, find out whether you can take part in building an international business or are you limited to domestic growth?
7. While you are looking into various network marketing opportunities, if any of the companies’ representatives tell you that making money with them will be ‘easy’ or ‘fast’, or boast about the six-figure income you will have within weeks, RUN FOR THE HILLS. Run and do not look back.
8. Speak to the DSA (Direct Selling Association) about the company you are considering. The DSA will be able to give you impartial advice. Check whether the company is a member of the DSA, and at what level. I would be very wary of joining any network marketing business that wasn’t a member of the DSA.
9. Ask lots of questions. If anything is unclear, double-check it. If you are curious about a certain point, ask. Whoever you are speaking to about the company before you actually join will probably be the person responsible for your training, so take notice of how easy it is to contact them and how happy they seem to answer your questions. You don’t want to join and feel like you are troubling someone each time you need help.
10. Listen to your gut instinct. Although decisions shouldn’t be made ‘on a whim’, your natural feelings of warmth or wariness for a certain company are worth listening to.
11. Having a number 11 is a bit of a bonus, right?! You should never forget this one: have fun deciding which network marketing business to join. This is a great industry to become part of, and it’s a great time to get involved.