When they want to start a home based business in the network marketing and direct sales industry, most people focus on the products and the compensation plan. Actually most MLM companies are built around the compensation plan. They forget that a business is about SYSTEMS and PEOPLE.
You can have the best product in the world, along with the best compensation plan, if you don’t have a system to market your product and a mentor who can teach you how to market efficiently, you will never make a dime. And that’s actually why 95% of network marketers make no more than $10 a week.
What I’m going to share with you here are a few key points you should look for when you are choosing your network marketing business. These are very important factors of success in this industry.
- First of all, you must find a business where you can have a mentor, a coach who is going to be there for you, someone you feel you can trust. This has to be someone who is willing to listen to your needs and actually cares about your success, someone who will answer your questions and help you be successful. This person must also have a financial interest in your success. Make sure he/she gets paid every time you do!
- Make sure the team you are working with has a powerful marketing system in place that anyone can duplicate. A strong system that anyone can plug into and get results with. If you have to figure out your own lead generation or if the company relies on recruiting family or friends, purchased leads or newspaper advertising, just run away. If you don’t have a reliable way of getting quality prospects in front of what you are offering you cannot be successful on a long term basis.
- Find a company where you don’t have to do any personal selling or explaining. Make sure there is a team of people in place to do this for you. You should have an entire team of people to support you.
- Make sure that the products being sold are legitimate stand alone products. These must be products that would sell independently from the business opportunity. Most network marketing and direct sales companies are built around the compensation plan and not a stand alone product. If what you are marketing is not a stand alone product, you will have a hard time building residual income and a stable business as most people will not be able to duplicate what you are doing and people will leave your team faster than they joined.
- Make sure that the company has a long term vision and is going to be financially stable as long as you are going to be marketing for it. Also make sure the company is not hiding offshore somewhere to keep out of reach of the attorney general. This is a key sign of a company’s true colors.
If you can find a legitimate company, with stand alone products, a strong marketing system, good sales support, and a personal mentor, you will dramatically increase your chances of success in the network marketing industry.
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