There are a few network marketing opportunities that are just scams. There are far more that may be well-intentioned, but have a poor track record, for any number of reasons. So how do you separate the wheat from the chaff? Here are ten tips to help you pick the right network marketing opportunity for you.
1. Has the company been around for at least 5 years?
If you want the efforts you put in today to pay off for many years in the future, choose a company that has proven that it will be around for the long term. 90% of all network marketing companies FAIL within their first 2 years. You don't want to invest your precious time and resources (not to mention your future) in something that may not be in business next month, do you?
2. Is the company well capitalized?
In other words, does it have the cash that it will need to grow, to maintain a solid infrastructure, to attract talented management, to keep pace with technology — and, of course, to pay your commissions! (I prefer publicly traded companies because they're required to disclose their financial condition in DETAIL every 90 days to the SEC and other governmental agencies. You may not be able to obtain this information on a private company, so you'll be taking a risk on its financial condition.)
3. Does the company offer products or services that are unique?
That is, they're not readily available elsewhere (especially at a discount) and they're not just another "me too" product that has loads of competition.
4. Is there a genuine need for the product or service?
You've probably heard horror stories about people ending up with a garage full of expensive water filters - the reason that happens is because only other distributors will purchase the product at that price! Your product or service must fill a REAL need at a fair price - and there should be a large untapped market for it. In other words, it MUST provide tremendous value, so the customer is the biggest winner.
5. Is the product or service trendy or a fad?
You can't build long term residual income (i.e., your retirement!) if the product or service only has short term appeal (e.g., beany babies, etc.). Think long term instead. Is the product or service something that your customers will continue to use for a long time?
6. Can you generate immediate income?
So that you can finance your marketing and expansion efforts from cash flow.
7. Does the marketing system take full advantage of technology?
Not everyone is a sales type, but ANYBODY can plug into a system and tools that do the selling and sorting for you!
8. Is the person who is introducing you to the opportunity committed to YOUR success?
If they are, the company is strong, and the product or service is a winner, (and, of course, you're willing to learn) you WILL succeed. There's a big difference between a "sponsor" and a "recruiter." A sponsor coaches. motivates and trains and a recruiter just signs people up and in most cases, abandons them.
9. Is there a way to build your business part-time without losing your full time income?
The company must have automated systems that can do the heavy lifting (i.e., selling and sorting) for you so that you can use your limited time efficiently.
10. Will you have FUN?
Although this may not be an element of your current JOB, we think it's important! You should have a lot of fun with your business partners while you work together to build a long term business and your financial army.
So there you have it — ten criteria for selecting a superior network marketing opportunity. Of course, even with a great company, there's no such thing as a free lunch. You WILL have to work! But, with the right opportunity (unlike your job), it won't have to be forever!
This post has been edited by stacyleslie: Apr 18 2014, 09:55 AM