Choosing the right network marketing company is a hard decision at times. A person can be so overwhelmed by the meeting or the people there that they don’t look at the whole picture. Through research, there are key components that one should consider before he or she gets involved with a network marketing company.
Management- If a company does not have a good management team in place, you can bet your bottom dollar that the company will fail. I am not talking about people that have gone to good schools and took up business management or anything like that. I am not talking about those that have inherited this position. I am talking about those that have failed several times in business but have learned from their mistakes and have become wiser. I am talking about those that through their careers have been at the bottom and worked their way to the top not by brown nosing, but by treating others the way they want to be treated. I am talking about those individuals that are distributor based minded. I am talking about those individuals that understood the mission is far greater than their own pockets. When you have a management team built around integrity, honor, trust, commitment, values, ethics, and the list can go on and on, that company has the potential to impact the world.
Product- The product is what makes the company legit and not a pyramid scheme. By sale or distribution of the product, an individual is able to get it in the hands of the customer. A good product is one that has broad market appeal. It appeals to the masses. A good product is the solution to a problem. Because it is a solution to a problem, it will be in constant demand. Now keep in mind that the product can be tangible or intangible. Whether it is a juice, skin treatment, life insurance, phone service, credit repair, or whatever it is, you want to make sure that the product is rock solid and you know that you can market it. Make sire that you believe in the product too. A company can have the best product in the world, but if it doesn’t have the other 6 components, it will fail.
Compensation – Network marketing companies all over claim they have the best compensation plan in the world. To the naked eye or one that is not used to network marketing, it may seem that way for that particular company that they are in. There are a few things that an individual should keep in mind before he joins a company. One of the most important things is whether or not the plan is distributor based minded. A lot of compensation plans appear as if you can make a lot of money, but in reality you can’t. They promote building your downline wide and deep, but limit you on getting the actual promotion after you have put in all the hard work. A lot of compensation plans take away some of your money once you reach a certain level. Some even have charge backs built in. That is when a customer purchases a product from you and then cancels in the future. Since your commission is advanced to you, the company gets back what you owe them. So there are several things to watch out for when it comes to this particular part. It can be tricky. One more thing, watch out for those plans that either pay a ridiculous high percentage in commission or extremely low percentage in commission.
Leadership – Iron sharpens iron. Birds of a feather flock together. Whoever has your ear has your destiny. Surround yourself with good council so that you can be wise. All of these sayings are so very important in network marketing. Be around good leaders so that what they have can rub off on you. Serve them. Why is that important? Because if you are not a good server, don’t expect anyone else to serve you well. If you are not a good follower do not expect to be a good leader. Your leaders don’t have to be a part of your upline. For that matter, they don’t have to be a part of your organization. Just find people that are doing better than you and have the qualities that you posses or want, and follow them. You can always tell a good leader by how many people he serves. Leaders will help keep you in line and hold you accountable. If you are not coachable, do not get involved with network marketing.
Timing – Location is everything in real estate. Timing is everything in network marketing. People always complain that they will never be rich because they didn’t get in when the company started. This has a lot of truth to it, but there are people that get in at the beginning that don’t do anything either. Those people are broke as a joke just like you. In network marketing most of the wealth is created in the formulation stage, 0-18 months when the company started. I would say roughly 70% of the wealth. That’s when people don’t know about your company. Then at the next stage, only 20% of the wealth is generated. That is the stage when people know about your product before you even ask them. The last stage, only 10% of the wealth is created. It has already reached the masses then. It is way too late to get involved then. So be smart when it comes to timing.
You- This is the last component. People are always looking a for a better opportunity, always looking for different ways to make money. When the opportunity slaps them in the face and has a big neon sign, they want to think about it. Or they have to talk it over with a broke family member that doesn’t understand business at all. Don’t let fear, family, finances, or friends stop you from changing your life. Get involved once you have reviewed the 5 other components. If they all line up, jump in full speed and change your life
