Ok so this is the next installment of our Multi-Level Marketing Review. Take a few minutes to come up to speed by reading the first part, Much Ado About MLM.
Before you get all excited and want to rush head on into the first MLM opportunity that knocks at your door, there are some major pointers you should look out for in a really good one. If your objective is to make a cool load of cash then you need to know if what you are getting into will get you there and how. Otherwise, you might as well be throwing your hard earned cash to the dogs. To ensure you succeed in network marketing, these are some questions you need to ask:
Proven Products: Rule number one in network marketing is to make sure your product is fantastic. Not just good; fantastic. You know why, because your product is what the business is built on. If the product is nonsense and you have the best sales strategy in the world, you will still fail. It’s only a matter of time before the people in your organisation begin to receive bad reviews and tell others that your product is a sham. Some people rely on the number of years the company has been in business and a general rule of thumb is to go with those that have recorded steady growth and have been in operation for at least 5 years. You usually can’t go wrong with that.
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Consumables: Rule number two in network marketing. Your product range has to ensure you get repeat business. You won’t be much of a distributor if you have nothing to distribute. The most successful companies usually have a wide range of products that ensures there is something for everyone and that they need to use them continually. This is very good news for any distributor. In summary, you will always be in business.
Quality 100% Guaranteed: Rule number three. Ensure that the product delivers exactly what it says it will. Remember, this is a network and as it grows bigger over time, you might not be there to interface face to face with each and every distributor in your organisation. Be sure that your product speaks for you. If the company's products do, and have been doing so for a long time, you will be sure to make some good money.
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Worldwide Reach: Rule number four. Ensure that the product can get to the people you expect it to get to. There is nothing more frustrating than having a product that cannot be delivered as needed. It is a major issue in any supply chain. If a company has a presence in many countries, it reduces that risk by a wide margin. A lot of the older and more established network marketing companies would have this in their favour as they would have built a good base over time and very few companies have that kind of reach. The network framework is ready, use it!
Exclusive Processes: If a product has an original patent guiding it's production which is wholly owned by the company, it's a huge plus. What this means is that the product is not subject to external factors which may play on its quality and availability. Very good network marketing companies that are worth their salt not only produce but have a controlled supply chain system. In which case, they control the entire process, from manufacturing to packaging to shipping and delivery to distributors. This is such an advantage to the distributor because everyone can tell you that it can be quite annoying having to pay extra for shipping and handling and then having to run around when your products don't arrive on time not to mention bearing the cost if your shipment somehow doesn't show up! In other words, if no other company can do what the company does, the way the company does it, they are likely to dominate their market and it will probably be that way for a very, very, long time.
No Demotions or Pass Ups: The pivot of network marketing is in sponsorship and compensation. Even with a good product, if your compensation structure is not well planned out and properly structured, you will have major issues. The sponsorship of new distributors must also be straight forward, transparent and easy to replicate. This is not the time and scenario to have a complex series of schematic diagrams that would confuse everyone except a select group of geniuses. If you don't understand it, don't get into it. You will only blame yourself when you've walked the line and have nothing to show for it after you've put in so much. Take time to understand the marketing plan and be sure to verify that when you sponsor someone, you are not passed up under any circumstance even if he/she excels in sales. Be sure that you will also not be demoted once you are inactive for a certain period of time. Things happen; you might need to take a break and focus on one or two other things that require your attention. It should be a way to achieve dreams not a modern form of slave trade!
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Solid Support: A good network marketing company does not leave its distributors out in the cold. They should be ready and willing to provide support to help individual distributors grow their businesses effectively. You shouldn't be made to wing it or just figure it out as you go along. The company should be there providing all you need as at when due. This could be free training, useful literature, seminars, training materials, staff that can help out with inventory management and supplies etc. It should be a mutually beneficial arrangement and when you begin to feel like its one sided, something is bound to give.
So I think that about covers it. Are there any other things I missed out? Please leave your comments in the box below.
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