Hey there everyone!!
As the industry of network marketing matures, it is becoming less important to explain its legitimacy, and more significant to illustrate how to effectively select the best company to promote. This is particularly true for the new generation of university students and graduates who have had neutral/positive exposure to the industry, and who are otherwise unable to find gainful/satisfying employment.
Of course there’s not one size that fits all — different companies are suited for different people. I’ve been in network marketing for over eighteen years, and I wasn’t making any money until my twelfth year. I’ve looked at hundreds of companies in detail, and have been actively involved in fourteen MLM’s including five MLM start-ups. I have made money in four companies, one of which has been providing me with good residual income for the last three years (I override an organization that does more than half a million dollars in sales volume every month).
This is what I’ve learned:
1. It Is a Lifestyle Choice
Consider that you’re not picking a job, a career, or even a compensation plan. You are picking a lifestyle. To be most effective, you will need to be completely immersed in your choice. What kind of lifestyle do you want?
You will not know exactly what lifestyle each company has to offer, until you explore. Attend various events. Consume products from different companies. Compare the culture from your experiences and ask yourself where you find the most resonance.
2. Who Do You Like?
At the end of the day, the most valuable support you are going to get to build your business is from your active upline sponsor or above. This is the person who brought you into the MLM, or someone above them, who is acting as your mentor/coach, and who has a financial benefit in your success.
It is far better to work with someone you like, know and trust in a mediocre company, than to work with someone who you do not have an affinity towards in a spectacular company. Companies don’t make people successful — relationships do.
3. What’s Your Passion?
Are you a health phreak? Do you love travel? Maybe you’re a coffee addict. You could be a techie, a chocolate lover, or a even a financial nut. Whatever the case may be, there is an MLM for you!!
We all want to be doing what we love. So why not promote what we love? That’s the beauty of MLM. Yes, salesmanship helps. But there’s no salesmanship required in talking about what you already love to talk about.
4. Can You Use It?
Have you heard horror stories about people who have tons of products in their basement or buried in their backyard? The sad part is, some of these people actually make enough money where they can afford to throw out a bunch of product (they are just meeting sales requirements for their cheque).
I think this is more of an ethical/moral question everyone should ask themselves. Is the product/service I’m promoting actually adding real value to people’s lives? Penny auctions, for example, don’t add much value. And while hype does work, if hype is the primary focus, then there probably isn’t any real value added.
5. New vs. Established Paradigm
Are you turned on by ground-floor opportunities? Or do you prefer something more secure? Innovative new companies can be much more exciting, and lucrative if they work. The challenge is, like any new generic business, the chances of it working are so slim.
If you’re an older baby-boomer who has had a job for much of your life, then I would suggest a traditional company that has been around for at least ten years. They are not going out of business, and you can be assured to create a firm foundation. If you’re young, you probably won’t like the culture at those companies anyway – they’re very old-school and take a long time to change.
6. International Means Nothing (Unless it’s a Digital Business)
One of the draws of many MLM companies is how easy it is grow globally. If you’re just starting off, you need to become successful locally first. That’s true with any business. Trying to be an international star before you’re even covering expenses is a recipe for disaster.
By the time you establish yourself locally, and your MLM company doesn’t offer its products in the country of your choice, then just work with the company to make it happen! You can be at the top of the entire country for your company.
7. Compensation Plans
Compensation plans are not for most people. They can get very complicated, and even superstars do not understand them fully. But then who understands financial derivatives, and who needs to?
Compensation plans should be quick and simple to understand in their overview. Why would a company want to make it complicated, if not to confuse you? Good questions to ask yourself are, “Do I understand how I will make money, and where that money will be coming from?” and “What percentage of money does the company keep?”
8. Open To Multiple Streams
Many people don’t take on multi-level marketing because they think it will become their primary source of income. Rather, they understand that wealth requires multiple streams of residual income, and that one MLM company will be one stream for them. What’s wrong with making an extra $100 per month from three different companies?
It’s unfortunate that lawyers have made some companies have agreements that speak contrary to this philosophy. Of course, if you’re not directly competing (i.e., have different streams offer different product lines), then why should any MLM care? I believe that it’s better to offer a variety of products/services than to be assuming that everybody will be interested in the only one product you may have to offer.
9. Supporting the Industry
It’s natural for a company to toot its own horn and to encourage its customers to be loyal consumers. That’s just good business. But when a company becomes so elitist that it condemns and degrades others in the industry, then that’s arrogance. We don’t need to put others down in order to build ourselves up.
More than other industries, I love the network marketing because there is a collaborative, community atmosphere where everybody is supporting everybody. That’s a great energy to be around, and some would argue, is essential for success.
As an entrepreneur, I understand that I need to build my brand more than any particular asset. That way, if an asset fails, it’s just the asset and not my business. Your biggest asset is you, and your brand.
Contrary to that, many people join an MLM like they are an employee. They promote the MLM rather than promoting their own business. Today, your business could mean your own web site, and you simply forward people from your web site to your MLM’s web site. It’s not rocket science, but it means that if the MLM goes under, all of your past effort could be redirected to your new MLM or business project. Pick an MLM consistent with your brand and image.
Network marketing is not for everyone. But neither is becoming a doctor, a lawyer, an artist, or a rock star. The question is, what kind of lifestyle do you want? If you like financial freedom and personal development, then network marketing is perfect for you. Select your MLM company wisely.
Let’s love the world together…
[)anish /|hmed, blind visionary
P.S. Currently I am making most of my money from promoting essential services,