Saturday, January 15, 2011

Being Successful in Network Marketing - How to Choose One That WIll Work For You

There is an endless list of network marketing companies out there, some good, some bad and some just out right scams, even illegal!  So how do you choose one to invest your time and money in?

Here some things to look for, or look out for when picking a company. 
First you need a company who's management has experience and integrity.

Ask yourself who is the ceo?  Who decides the rules, and who runs the company?  Have they ever done network marketing before?  Go on google and do a search for information on the people that are going to be writing your check. Most of us have little information about the integrity and principles of the people that are deciding how this company will work. If this person or group of people has no experience in managing a company or if they are in it for the management, not the distributor, you will have trouble. The policies and procedures should be there to protect the distributor, not the management, and you should be able to understand the language. If it is written in lawyer terminology and has lots of pages, it is probably hiding something they don't want you to know. Ask yourself if this is a company you want to trust with your future?  Get a copy and READ the policies and procedures, they don't need to be 20 pages long unless they are providing more for the management than the distributor.

Next most important is timing in the industry and timing in the company.

So often we go by some great product that is said to be the next best greatest thing since sliced bread. Technology moves so fast that it is easy for someone to take a product and make it sound like the best deal yet. Always you need to get in on the "ground floor" to really make it big. And it is said to be easy and something everyone will want and need in the near future.  The trouble with these claims is that the ground floor could very well go out from under you anytime, because technology moves so fast, there will soon be something even greater to take it's place and that product will be so cheap you can't compete.. Something like 90% of the startup companies fail in the first 2 years. Do you want to build a business with this company?

The third thing to look at is the product, you need a remarkable product.

This one is the easiest. If the company has been around very long, they have to have a great product, or they would be out of business. The product should not be something you can get on ebay or in the stores for less than you can sell it for. If it is on the shelves for less, then they are making money on the distributors, not on the product.  Technology companies are the worst only because the product that is great today is replaced by  another one in the near future.  The best product is something that is being used up so the customer has to buy  it again the next month. This is why nutritional and cosmetic products do well.  Consumable products will keep customers coming back. You don't have to love it, you just have to find customers that do. Would you buy this product if there wasn't a business opportunity attached?

The fourth thing to look at is the compensation plan.

Most people do a network marketing company in their spare time. They are part time workers, and they have to be able to make money within a couple of months to stay in long enough to learn the business.  So the compensation plan has to pay the part time person. There has to be a way to make and build an income without having to build a massive network. They have to have products that are priced so they can be sold competitively in the retail market. The plan has to pay it's distributors on everyone that comes in.  Use something that is a level measure, for instance how many people do you need to make $1000 a month or $10000 a month, in residual income. All things considered, would you rather work in a company that you need 250 people in your total organization to make $10000 or one that takes 2500 people to do the same thing?  This is something to think about.

How about training, how are you going to go about building your business? You need a proven duplication system that will allow your people to go on learning and building even when you aren't around to guide them.

This system should be one that is easily understood. It needs to give you step by step instructions on how to do it, not just get people and sign them up, but HOW to get people to talk to and WHAT to say to them once you get them. When someone is looking at doing a business and joining YOU, they want to know do you know what to do to make money at this and can you teach them to do the same thing. With a system like this you can grow, you won't have to rely on the front end and just recruit to make up for the ones that drop out, because if your people can duplicate what you do and make money, they will stay.

With this system, you need a MENTOR, someone that you can model what you do and that can help you to understand what you need to be successful. No matter what company you are trying to build, this is the most important. You should NOT have to buy leads, make lists of friends and family, talk to everyone you meet where ever you go, and do presentations to as large of a group as you can. My mentor has showed me how to find people without doing this. I DO NOT spend money on leads, I have many ways to find people that are looking just like me and want to do a business from home. You can be successful no matter who you are or what you have done before. If you have failed before, you won't if you go by these principles. Just do some critical thinking and you will be a superstar!

If you want to find out more, listen to this audio.  the 5 Pillars of Success

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