6 Top Tips To Consider When Choosing a Network Marketing Company
6 Top Tips on Choosing a Network Marketing Company.
If you are considering joining a network marketing company it pays to do your homework before you sign up. Don’t join at an opportunity meeting. You are liable to be making an emotional rather than a business decision. It is best to come home, do your due diligence and before you make a decision use these 6 top tips on choosing a network marketing Company.
Tip 1 The Network Marketing Company
What do you know about this company and what can you find out? The website npros.com list each new Network Marketing Company as it is formed and they also list those who have gone out of business. Network marketing can be a volatile business so you want to choose the company carefully. You definitely don’t want to waste a lot of time building your organisation only to have it taken away overnight if the company goes out of business.
A number of sites can be helpful for background research into the Company.
To find out if there are pending or unresolved complaints about the business or owners you can go to the Better Business Bureau bbb.org. They hold a list of all companies by town and state and they grade them according to how many complaints are made by customers and how well they are handled. If you see a company here with a low score or history of many unresolved complaints it should be a red flag.
Most reputable network marketing companies will also be members of the Direct Selling Association and they can be searched by going to dsa.org
How long have this company been around? If they are new there is a school of thought that says getting in at the beginning of a Network Marketing Company can be very lucrative. Alternatively you may want to go for a company which is well established and has a good reputation. This is a personal decision and I chose to go with a long established company who were very unlikely to go out of business, especially since they were debt free. And debt ratio is the last criteria I would include when looking at the company.
Top Tip 2 The Leadership Team
Find out who is driving the bus. Do the leaders have a track record of success in this industry and are they the kind of people who can successfully run a Network Marketing Company. What does the culture inside the Company look like? Does it fit your value base? You can check bbb.org again for any outstanding complaints or issues with the Leadership Team.
Top Tip 3 The Products or Services
The first thing you want to check is that the Company actually have some. In the past a few unscrupulous individuals have given the Network Marketing Industry a bad name. They didn’t actually have products or services to sell and were just paying people to join. You will have heard terms like ponzi scheme, pyramid scheme and scam. One of the features of these schemes was that only the guys at the top stood any chance of earning money. We will cover more on this in the next tip. One of the ways to distinguish a legitimate Network Marketing Company is that they have a range of products and services and that the majority of their income comes from customers, not from signing up distributors.
Is this a product or service you use? Firstly I think it is just ethical that if you are recommending something to others you should be using it yourself. And secondly you will be much more energetic and authentic if you have your own experience and story to tell regarding your use of any product. Remember 7% of communication is words, 38% is your tone and 55% is body language or energy. Most people can spot a fake a mile away so you want to be congruent in what you are doing to really get long term sustainable success.
Would you happily recommend it to your family and friends? if the answer is no then you probably should consider another opportunity.
How big is the market for this product? The bigger the market, the bigger your potential customer base is going to be. Is it a fad or here to stay? The key here is long term sustainable success and on-going residual income.
What is unique about it? It is likely that any Network Marketing Company you choose will have competitors. What makes your product/ service stand out? Why is it different or better than someone else’s? If you take the health industry as an example, choosing a Network Marketing Company in this niche you could be looking for research to back up the claims about the benefits of taking the products. And you can transfer this to any other niche.
Lastly are you or could you be passionate about it? I think this is a must when you are deciding to become involved with a Network Marketing Company. Don’t get involved if the product/service doesn’t excite you. How would you hope to excite anyone else?
Top Tip 4 The Compensation Plan
How much, when and how will you get paid? And how much does it cost to join?
With a joining fee you should be looking at something below $500 dollars. There may be exceptions to that but in general one of the features of Network Marketing is a low start-up cost. Just consider how you will feel asking others to pay what you are being asked to join. If it feels comfortable and right, go for it! If not, another red flag to consider.
In terms of being paid it stands to sense that 50% commission is better than 10% and being paid straight into your bank is better than having to wait weeks to get a cheque in the mail which you then have to wait 5 days to clear.
Some Network Marketing Compensation plans can be hard to understand at first as they may have 5 or 6 ways of paying you and the structure you build may have to be a certain shape or design. Take time to understand it at least at a basic level. You can ask the person who introduced you to the opportunity to explain it further to you. I looked at one opportunity that I think is a good one. Unfortunately after three conversations I still couldn’t understand how the comp plan worked so I knew I couldn’t explain it to others and walked away.
Top Tip 5 Training
How much training is provided on the products and the business model with this Network Marketing Company? Is there any local support or does the company use webinars or other web based learning to aid you. Can you contact them easily if you need help? Make sure the training matches your style as a learner or at least is available to you in a format which will work for you. And make sure you are supported until you are independent.
Top Tip 6 Your Sponsor
Last, but by no means least. Who is your sponsor? How well do you know them? Do you trust them to mentor you to success? How long have they been with this network marketing company? How successful are they? How accessible are they and how and when will you be in contact with them? Some of you will work well independently. Others will require support starting off. You know what your needs are, make sure your sponsor can match them.
Follow these 6 top tips to give yourself the best possible chance of success in this industry. Remember Network Marketing means you are self-employed so your success depends a lot on you and how much effort you put into growing your business.
To your success
Anne
Anne McAllister is a coach and online entrepreneur
Article Source: http://EzineArticles.com/6788169
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