Hello every, good day. I bring you greetings from the depth of my heart. I’ve come to share with us the very first things anyone about to start MLM business should consider and be able to translate into action so as to succeed in MLM. MLM is very lucrative no doubt but the height of the success depends heavily on the system run by the MLM outfit. There are so many outfits invoke right now, but your choice of which one to work with depends mostly on the following:
1. Ask how long the company has been around: Is it a new ‘start-up’? Has it been around long enough to have all of its procedures in place and working well? Is the company financially secure or debt free? Find out if they deliver on time, all the time? Is the “business” you buy transferable or able to be ‘willed’ to your family?
2. As I said earlier on, Network Marketing is about “duplication” of effort. Look at and learn from those in the company that have been successful. Endeavor to duplicate the methods and techniques that they have employed. In many cases those successful people in the Network Marketing Company will be happy to assist and train you because, if the company’s “rewards” are modeled correctly they will also benefit from your success.
3. Do not rush into the very first Network Marketing opportunity you get introduced to. Make no mistake about it the person that is introducing it to you will be excited about his or her opportunity.
There will most likely be some ‘gentle pressure’ on you as it is likely the person introducing it to you will be a friend or a family relative. Think carefully about some of the points that follow before you make your decision to join any particular business venture.
4. What kind of products or services are they or the company selling? Is it something, like vitamins or soap powder & so on that anyone can buy at any corner store or supermarket? Just because their product may have some ‘special ingredient’ or feature it does not, necessarily, mean that it will be easy to sell to others, either in the first instance or for any subsequent sales.
Remember it is always easier to sell a ‘repeat’ sale to a current user than it is to make a completely new sale to a new customer.
5. Is it a quality product or service? If it is not or if it is not well supported by the parent company then it will be much harder to make those ‘repeat’ sales which should, normally, be easier to make.
6. How well is the product or service priced in the marketplace – is it competitive in both price and features? Always endeavor to stay away from products that are too costly despite how great their ‘features’ may be – they will, most likely, be difficult to sell in any volume or for you to get those important repeat sales.
7. Be cautious of Network Marketing companies that focus on only signing up other people below you and not on selling good quality products or services. These companies will generally fall over and fail with time.
8. Do you need to buy and carry stock of the products yourself? Do you have to commit to the company to buy a minimum monthly order whether you sell your stock of their products or not? If so be very cautious and consider any such venture carefully.
9. Does it have a ‘low entry’ sign up cost? Most successful Network Marketing enterprises do not require a great amount of investment to get started as they make their income by generating good volume sales. If you are asked to make a considerable investment you need to research the ‘opportunity’ very carefully and, as necessary, seek advice from professionals, such as an independent accountant or business consultant, just as you would if you were buying a Franchise.
Please do not confuse Network Marketing with Franchising. These are really totally different although they do share several common characteristics. Our advice to most people who want to start out in a business of their own for the very first time, those that want to be independent and work for themselves, is that they should seriously look at Network Marketing business opportunities as a much better ‘vehicle’ for their time and money than the majority of franchises.
10. Does it provide you with a “Residual Income” (Residual Income is an income gained without you personally working. What If YOUR income suddenly and absolutely stopped, for whatever reason – sickness, car accident, loss of your job etc – how long could you survive on your savings if, in fact, you have any savings? Other than hopefully getting some kind of social welfare payment from insurance or from the government, how long could you continue to pay the rent, the mortgage, buy food, make your car payments and so on?)?
Thank you for sharing your precious time with me.
To Your Success!