When You See A List Of The Top 10 Network Marketing Opportunities
When you do a search for something like "The Top 10 Network Marketing Opportunities" or try to find "The Top 50 MLM Companies," how do you know if these people determining the “best” network marketing or top multi-level marketing companies really know what they’re talking about? Do you think these bloggers have thoroughly done their research? I wouldn’t bet on it, and I certainly wouldn’t make an important decision based on someone else’s opinion. Most successful mlm and network marketing companies share common characteristics which you can find easily. Why not do your own research? There are six important steps you can take when you have a list of mlm companies to review. If you want to be in a top network marketing business, and more importantly if you are going to invest your time and money building your own profitable home business, this list is a must have.
Six Important Steps to Choosing
the Right Network Marketing Company
Step 1 - Do A Thorough Self Assessment
First of all, the one thing that dictates your success is you. If you are someone who has not been making the kind of money you think you should be making, and you’ve tried several different companies, you must do a quick self-assessment to see if maybe it wasn’t just the company, or your upline, or the product…maybe it was something you did or didn’t do. Is it a recurring pattern? A big part of this beautiful business model is personal growth, and there are many skills you need to develop, as in any business. You can’t just jump in and expect to know what you’re doing if you’ve had no experience. Rate yourself to see if you’ve spent the time and practice developing the basics:
How to Prospect • How to Generate Leads • How to Connect • How to Invite • How to Present • How to Follow Up • How to Make Your Offer • How Not to Be Offended If They Say No • How to Build Relationships • How to Market Using Social Media • How to Do a 3 Way Call • Where to Find the Tools • How to Set Up a System • How to Duplicate • How to Train Your Team
If you are just starting out, be sure to ask whoever is pitching you their business to tell you how they handle each and every one of the items listed above. It will help you determine how much they know, and if they stumble that’s a red flag.
Step 2 - Get More Specifics On The Company
Research the company. Do not rely on anyone else’s biased opinion, you must find evidence supporting that the company has a good reputation, is well-established (10+ years in business) and debt free. The leaders need to have field experience in the industry as well as corporate. Is it a private legacy company or is it going to be sold out to the highest bidder? There are less than a dozen companies that have reached a billion dollars or more in annual profit and been able to maintain that status. Many of them, such as Amway and Avon have been in business for over 50 years. If the company you are researching is less than 20 years old and making the same kind of profits that's a good sign. Be sure to see if the company you are considering is recognized by the Direct Selling Association and Inc 5000. Where are they ranked compared to all the others? Do they have any business awards? What’s their BBB rating? How many associates are listed as top earners worldwide? Do they continue to increase sales every year in their country of origin and by what percentage? Why do I say "in their country of origin?" It has to do with timing. You want to join a company in the critical mass stage of business growth, after it's built a solid foundation and worked out all the bugs, a great company generally goes from being unknown to becoming a household name. Please don’t fall for the “get in on the ground floor” thing, most companies fail within the first year.
Step 3 - Take The Product For A Test Drive
Do you love the products? You truly can’t be all in if you’re trying to sell something you don’t believe in, and if you think you’re going to be able to sell something you haven’t tried, you’re in the wrong business. This is referral marketing, and each and every client is putting their trust in you. It’s your responsiblilty to know what you’re talking about and that comes directly from personal experience. You can’t just wing it! Your prospect will be able to see through a fake pitch. You must be so passionate about what you are offering that there is no doubt in your mind it’s going to help solve your customer’s problem.
In addition, there are 3 important questions to ask about your product:
Is it consumable? When you’re paid residually, you can scale it up massively when your customers order again and again and again. That doesn’t work so well if you’re selling an expensive device or a handbag.
Is it unique? You want your customer to purchase from you, correct? Is your product something they can get down the street at Walmart? What sets it apart from all the others?
Do your products have an emotional impact? If your product is really effective, it solves a problem and has a significant a “wow” factor. You want to create loyal customers, and that only happens when your product provides an impressive benefit that makes a real difference in someone’s life.
Step 4 - Check Out The Compensation Plan
You’ve got to understand the compensation plan. Unfortunately, there are all kinds of comp plans out there and most of them are designed to make money for the company, not the associate. If it’s too complicated that’s a red flag. Find out the structure of the comp plan: is it a Unilevel, Matrix, Stair Step Breakaway, or Binary? You should know the difference because this is your paycheck we’re talking about. Get with someone who can explain exactly how you get paid and how often, and be sure the company has it in black and white. If you don’t understand it, how will you be able to explain it to your prospects? The compensation plan must be very simple and straightforward. You should be paid on every single sale generated in your downline, no matter your “rank” or numbers, and your sales volume should not flush at the end of the month, it should roll over.
Step 5 - Look For The Culture, Training and Support
If you are new and don’t have any experience, you must rely on your upline. They are there to help you succeed, and you should be tapping into their expertise as well as their stories. It’s okay to not know what you’re doing, as long as you are actively working with a mentor who is coaching you. In the beginning, your coach should be working for you! This is the essence of the 3 way call, so that you’re not in that awkward place of having to explain it all to your new prospect when you really have no idea what to say.
This is HUGE, so don’t over look this step. There must be a large community of support and tons of training available to you free of charge. Take a look at the people who are successful. Study them. The best mlm and network marketing companies have top earning associates from all walks of life. Is there diversity? That means the company has a system in place and anyone can follow it. Most likely the money makers have massive teams and have developed a culture that matches the company culture. You should be able to tap into their methods as well as the company’s. If your company does not provide a step by step blueprint for how to grow your business, tools to help you with marketing and sales, and a large number of people that want to help you learn how to be successful, move on!
Step 6 - Timing Is Everything
Timing is everything. In order to make money in any kind of business, you’ve got to be able to spot the trends and get in front of them. There are 3 types of people, those that make things happen, those that watch things happen, and those that wonder what happened. Which one are you? You’ve made a good start if you’re investigating home business opportunities. This industry explodes during a bad economy – everyone is looking for an opportunity right now to supplement and or replace their income. Best bets right now are anything related to healthy eating, fitness, weight loss, and anti-aging. Online shopping is massively increasing, so be sure you are keeping up with the technology and get in front of the people who are buying.
As far as I'm concerned, if you are serious about becoming a professional network marketer you'll need to do much more of your own work in the beginning, before you get started promoting. Understand all of the components that go into making a truly successful network marketing business. If you would like to see an example of a company that fits all of the above criteria check out my webinar here.
Bottom line, only you can determine what's best. Think about what motivates you to want to make a better life for yourself and for others, and if you find something that excites you then that's the direction you should go. Your enthusiasm is what will drive you and others to create a large network. This is a team building business, so you must find a deeper meaning behind what you do. It's not about making more money, it's more about making a better life. Find what's important to you.
Did this help you? If so, please leave me a comment below and share the article.
To your success,
Judy
Email: judy@solutionsfornetworkmarketers.com
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