There are many network marketing companies out there. Some of them are scams. I bet you've seen network marketing companies shut down because it conducted a pyramid scheme or ponzi scam. Even if it is a legitimate business, how do you ensure you get the best results by working for it. Here's how you can identify if you're with the right company, or if the company you are choosing is right for you.
Has the company been around for more than 4 years?
If you want your efforts to be paid off at the end of the day, you will want to work for a company that is able to sustain itself for a long term. 90% of network marketing companies fail within their first 2 years, and statistic shows that a network marketing company has to survive is first 4 years of business to be able to sustain itself for a long time. You don't want to be working hard, and then at the end of the day, the company shuts down and you don't get paid.
How does the company protects itself financially?
In short, how much of the revenue does the company use to pay out to its distributors. Imagine you own a business, and you're paying your employees too much, while you don't bring that much business in. If a network marketing company has too good of a compensation plan, it will not survive as well. Do the management of the company have experience in network marketing? The saying goes, "you can change the products, the compensation plan, but you can't change the owners!" If you join a network marketing company and the management do not have experience in network marketing, they can't give proper directions in terms of growing the business.
How does the company pays you?
Some company pays you into your bank account, some pays you over paypal, some into a company issued debit card. If your company is paying you by cash, it seems very bad in terms of their accounting to me, and I will doubt the company's credibility. When does your company pays you? There are companies that owe its distributors up to 2 years of commission. That's not a company I want to be with.
Does the company have a unique product?
If the company is selling a product that is easily available elsewhere, you are putting yourself in a position with many competitions
Is there a need for the company's product?
You can't sell something that people don't need. Period.
Is the company's product built on loyalty and long-term?
If your company's product is only usable for a short-term, how are you able to build long-term residual income. Unless these products can generate repeat customers. The best way is to sell a long-term product, that your customers will keep using. That way, you can be sure that you are generating sufficient residual income for yourself.
Is there a limit on your income from this business?
Most network marketing companies have a cap on how many levels deep in your organisation can you earn overriding commissions. That limits your potential earnings. Because the most money made is at the lowest level of your organisation. That's where you have the biggest number of sales team.
Most network marketing companies have a cap on your maximum income as well. What happens when you're at your highest earning capacity? You cannot be earning more anymore income. Some companies gives you a second business center for you to build your business again. That way, there is no limit in your maximum income.
Does the company have a great support system?
Most people who join network marketing have no experience on how to work on the business. The company must have a training and support system to train yourself, people that you recruited into the business to be able to sell the company products. Without a good training and support system, you will see people quitting the company one by one.
The company must have platforms to help newcomers grow their business too. Does your company leaders conduct seminars, assist in presentation, assist in training etc? If it doesn't, it is can be very easy to fail in this company.
Does the company take advantage of technology?
We are in a different age today. A company that does not take full advantage of the internet and online marketing will not be bringing lots of business. The number of leads you can find offline is not as vast as the number of leads you can find online. You will eventually run out of leads in your current network.
Is your business global?
Why work with a company that is only opened in your country? Why not work with a company that is global? Your potential customers is the whole world compared to the limited population in your own country.
Is the person who introduced you to the business committed to your success?
If the person who introduced you to the business is not committed at all, you will be working on this business alone. Why work for someone who doesn't help you at all?
Are you able to do this part-time without affecting your full-time income?
Network marketing for most people is a part-time business. Of course there are people who are full-time network marketers. But most people are full-time employees and are looking for a gradual change for more time and money in their personal life. If the company you join requires a high level of commitment, most people will not come onboard on the business.
Is this meaningful and fun for you?
If what you are doing is not meaningful or fun, then you will lose the drive and motivation to work on it. Find a product that is helping you, and is able to help others while having fun too.
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