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MLM Opportunities: The Top 7 Things You Need to Look for and Ask About in an MLM Company
So, you have decided to jump into the Network Marketing Industry, and join a reputable company. Great Move! It will open up doors in your life that you never knew existed, and the personal development you will experience will be amazing.
But you may be thinking- what do I look for? What should I be asking? What should I be trying to find out?
The first thing you need to do, is ask yourself a question. "What type of product would I like to market? A tangible product, like vitamins or skin care? Or would I like a more intangible product like internet malls or legal services?" Once you decide that, you can have a direction to look towards and decide on.
Then you can start looking at MLM companies and doing some research. Research is KEY to finding out about Network Marketing Companies and what they have to offer. Start looking and researching on the internet, and also call your Better Business Bureau, and see if there have been any complaints about that company.
The questions you should be asking are these:
1) How long has the company been doing business?
Many start up companies will not be around next year. Most MLM companies after three years are gone. If you are looking at a start up company, make sure they are well funded, and have good management to get it through the rough spots typical of MLM start ups. As a general rule, 3 years in business should be a minimum of considering a company.
2) What is the reputation of the owners and management?
Many great companies that could have been superstar companies are no longer around because of the decisions the owners made. This is true of real estate companies, mortgage companies, and any other entreprenurial ventures. Check the owners out. Ask questions, and do some research on them as well. What kind of reputation do they REALLY have? You will be glad you did if they have a past of possible questionable integrity.
3) Do they pay their checks on time?
Find out if they have missed paying any paychecks. If they have, this is NOT a good sign, and I would suggest to look at another company. This one has some problems you may not want to be a part of in the future.
4) Are people making money?
How many people are truly making money? Many times, hype can blind the truth. Do some research and find out if it is easy to make money with their pay plan, and if a lot of folks are. If many people are, that is a good sign. If it is a start up, and not many are making a lot of money yet, see what kind of compensation plan they have, and if it is "distributor friendly." If it seems hard to make money with the plan, then you have some thinking to do. It should be easy to make money in MLM.
5) What kind of market is out there for their products and services?
Here is a litmus test question for products: Would you buy these products outside of Network Marketing? If you would, you have a good product possibility, and probably a great market for it. If you would not, then you need to see what the true size of the marketplace is for the line of products. And, also, how many other like products are already out in the marketplace? Make sure that the market for the products is big, and available for you to market.
6) What kind of training and tools do they have?
Do their tools look professional? Does the website look like a professional website? Do their brochures, cds, and videos look and sound professional? If you are going to market products using these tools, make sure that they are of the quality that you can be proud of, and readily hand out. What kind training materials do they have? When are the trainings? Do they hold training events? Are there training conference calls and webcasts? Make sure you will have a training path to walk when you join a Network Marketing company.
7) Can you talk to some of the successful folks in the company?
You can tell a lot when looking at MLM companies, by talking to some folks who are successful. Do they try and hype you or honestly interested in your questions? Do they talk about themselves and all they have accomplished or what you can accomplish? Do they answer your questions, or dance around them? This will tell you a lot about what kind of people this MLM company attracts, and what kind of culture that it has in the distributor field. Talk to at least three to five people. That will give you some feel for the company.
These are some of the things you need to consider when looking at Network Marketing companies. Do your homework, and don't make a totally emotional decision. Do your research.
Here is a million dollar question:
What does your gut tell you about an MLM company? Listen to it. It is usually right, and probably is right on about what you are considering for a Network Marketing opportunity.
Doug Firebaugh is one of the top MLM Network Marketing Trainers in the world. Over a million people a month read his training ezine. He spent the last 7 years traveling the world speaking and training on Success. He lives in Birmingham Michigan, and you can receive a FREE subscription to his training ezine- The MLM Success HEAT- at: http://www.passionfire.com/pf_heat_4.html and http://www.passionfire.com
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