What Are The Elements Of A Good MLM?
As the economy continues to under-perform and as unemployment continues to go up, Multilevel Marketing and Network Marketing opportunities are on the rise. And rightfully so, because of the changing dynamics in the market place. In some MLM companies, distributors are earning more money than they ever dreamed of earning. But I caution you, before you join and promote any Multi-Level Marketing Companies or MLM Business Opportunity, there are a few things you need to consider, analyze and research. I am going to outline some of the basic elements that will help you in making an educated decision.
Things You Should Consider In A MLM
When looking for a good Multilevel Marketing opportunity, there are 5 things to consider and look for before you make a decision.
1. The first thing to consider is your level of comfort in promoting the MLM and their core products. Consider selling or promoting something that you really like or something that is of real interest to you, keeping in mind the value it offers the end user. Ask yourself this question: “Am I interested in purchasing the mlm company’s products for my own personal use & consumption and will I really use it?” If the answer is “YES”, then it’s a good indication other people may be interested as well. If the answer is “NO”, it may not be a deal breaker, but I suggest you take a much closer look at the product and its feasibility. There are several other MLM Reviews regarding products on the internet that can assist you with making this critical decision.
2. The MLM company should be positioned in a Growing and Sustainable” target market. Look for a company that is in a growing industry and one which has “real” products that are in demand and has a strong foundation and track record! There are several Top MLM Companies to choose from, but do your very best to stay away from get rick quick schemes and MLM Scams!
3. The company’s products should be of “high quality” and be “consumable”. A high quality product is generally a product that is produced using the very best resources, raw materials and ingredients.
Determining the quality of a product is not always apparent or easy and can be be marred subjectively, so consider doing research on customer reviews or complaints, product reviews, competitive comparisons or obtaining data on customer returns, and in some cases examining the general look of the product and packaging.
A consumable product is a product that the consumer uses up and is generally replenished. Examples include: Technology (Cell Phone Service), food (Eggs), personal care products (Toilet Tissue), printer ink…basically anything that is consumed. Having a consumable product especially one that is in high demand means repeat sales for you and your MLM business.
4. Your MLM opportunity should have a compensation plan that payout in excess of 30%-50%. It should be one that offers leverage and pays you residual income on your work. It should also offer at least a fast start bonus! Many Network Marketing companies today offer fast start bonuses in addition to other bonuses.
Also, how are you paid? You’ll also need to know how often are you paid for your work — is it weekly, monthly, quarterly or a combination of all? Are you paid by debit card, wire-transfer or check. It is truly beneficial to know the answers to these questions.
5. Lastly, research the Network Marketing company and it’s management. There should be no “smokescreens” here. If the company is an honest legitimate company, getting useful information should be relatively easy. If it’s not, move on! I see too many people getting caught up in the “next big opportunity syndrome” thinking they’ll strike it rich, only to be let down by empty promises and disappointments. When all they need to do is some research and look beyond striking it rich.
Get The Facts On The MLM
You can get information using the internet (i.e. discussion forums, or searches), or from your potential upline or even the company itself. Be aware of any complaints or anything that consumers or distributors are unhappy about and find out what type of MLM Training you’ll receive. Use all your information gathered wisely in weighing your decisions — we are in the information age you will find good and bad information. You will need to judge all information based on all the sources, and circumstances.
The above 5 elements will help in determining which MLM program to choose. Once you have chosen your MLM company, the next critical thing to think about is a plan of action and how will you market and build a successful sustainable MLM business?
Live Your Dream,
Like this post? Subscribe to my RSS feed and get loads more!