Joining a multi-level or network marketing (MLM) company is a legitimate way to earn money and become rich. I personally know two people what have become millionaires because of it, and a handful of friends who earned modest profits.
But I’m sure, like me, you know a lot more people who lost money and failed miserably in this kind of business opportunity.
So what went wrong for them?
There are many factors that affect one’s potential for MLM success, and one of them is not choosing the right network marketing company that suits their skills and capabilities.
And this is what I would like to help you with today, to give you some tips and advice on how to decide which multi-level marketing business is right for you.
But before anything else, I encourage you to first read my other articles on this topic. They serve as a primer to what network marketing is all about:
- The Basics of Multi-level Marketing
- Big Myths and Facts About Multi-level Network Marketing Programs
Qualifications of a Good MLM Company:
The first thing you need to do is to check if it’s a legally-registered company with a physical office and complete business permits. This is common sense and most of the time, they will pass this qualification.
After that, more due diligence is required from you to research the following:
- The company should be stable, with reputable investors and board of directors who have proven track records in the field of business.
- It should have an excellent, unique and tangible product that you, yourself, are willing to pay for and use.
- It has a clear and fair product pricing with a business model that is NOT dependent on membership recruitment to profit and survive.
- The company should have a good support system that provides free training and education to members and a well-running system for customer service and complaints.
If you’re not willing or simply do not have the time to do research on the above mentioned details. Then I can bravely say that multi-level marketing is NOT for you.
However, if you’ve done your assignment and has found a couple of network marketing companies that pass these qualifications. Which among them should you finally choose and sign up with?
How To Choose The Right MLM Company:
In a nutshell, one should choose the one that fits their needs and wants, one that complements their values and belief system.
Deciding which MLM company to join in should be like choosing a spouse. There should be the “right chemistry” between you and the business’ products and people to become successful.
Ask yourself these questions to help you decide:
- Do I believe in their products and I’m willing to use them myself?
- Will I be proud to announce to everyone I know that I am a member of this company?
- Do I know a lot of people who will be interested in using this product?
- Will I be comfortable in selling this product to people I barely know?
- Am I willing to be known in my social network as a member of this company for years to come?
While all questions are important, the last one is something you should really think about. Network marketing success is all about focus and sticking to just one company for the long haul.
The two people I know who become millionaires have been in their respective MLM companies for more than five years already, and they both say that their secret was patience, persistence, optimism and loyalty to their chosen business.
Want to learn more about network marketing and other business opportunities out there? Then please subscribe to Ready To Be Rich.
Photo credits: luc legay
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