MLM Home Business Opportunity
A simple MLM checklist you must follow
So, you are looking at a MLM home business opportunity but want to do your homework before joining one. I just want to say that you are off to a very good start! Well done.
There are a lot of people out there who select the wrong network marketing company. This is simply because they don’t put that tiny amount of effort in that you are putting in, to check that what they are getting into is safe.
Sadly, some people lose their $100 - $500 investment, because they discover after a short period of time, the products they have rights to sell aren't that great.
Or in some instances, new Independent Business Owners (IBO's) suddenly learn that they must order a certain number of products per month just so they can maintain the right to stay with a company.
This can be enough to cause anyone to become broke in a matter of months. Hey let’s face it, most people have a budget to stick by and also a limited cash flow.
I hope you can see that choosing a MLM home business opportunity isn't just a matter of Googling "Network Marketing Companies" and picking the most attractive one out of the first ten presented to you.
What I have here for you is a mini MLM checklist guide that will help you to cover off on the main aspects of companies in the MLM Industry.
These basic (but very important) points could be the difference of you failing or succeeding in this business.
What to Look for in a MLM Home Business Opportunitiy
When I was first approached about the MLM home business opportunity I am currently with, I had absolutely no idea what to look for.
The first thing I wanted to know was "Is this even legal?". Because to tell you the truth, the thought of building a business which consisted of selling a variety of products and sponsoring others to help duplicate your efforts through
is very exciting.
Especially when you know somebody who has given up their day job and is earning $7,000-$12,000 per month.
Another thing that popped into my head was "Is this one of those pyramid schemes?". This is probably an item on your mind too. How can you tell if it's a
MLM fraud or pyramid scheme?
Here are the main things you MUST, as a minimum, consider when you are looking at a MLM home business opportunity.
- History - I strongly, strongly recommend that you do some good research on any company you may want to join. I wouldn't take the risk of signing up with a new company, because they need to establish themselves first - for a few years at least.
A network marketing company with a solid proven track record is far safer than one that has only been operating for a couple of years.
For all you know, a new born company could be illegally operating, ripping customers off and who knows what else.
As a general rule of thumb, I advise you to only look at MLM home based opportunities that have been around for at least 8-10 years.
- Products - OK, there are a few things to consider here. Obviously, you would only want to be distributing good quality products. Otherwise you are going to have customer dis-satisfaction, which leads to complaints, bad reputation and refunds.
However, the good thing is, is that your check up on the company's history would had determined its reputation and a general consensus on their products.
Your business growth depends on the merchandise you sell, so it's vital you go with a company that more than satisfies its customers with its product range. Top network marketing companies
believe it or not, have teams of scientists and agriculturalists developing and producing their products.
I know for a fact that this is the case with the company I am with, which was one of the reasons why I approve of it.
It's also a good idea to check on the actual range of products made available to you through a company.
This means you have variation for the target markets you can go after, meaning you are not limited to just a few customer bases.
Finally, check the money back guarantee aspects and warranty promises.
- Financial Position - This information may be a little harder to get your hands on. But in cases where MLM companies are reported to be having growth, they tend to brag about it on their websites.
So it's a good sign when you see a company stating they have sold a half a billion dollars more in goods compared to the previous year.
This reinforces the importance of a proven track record. A lot of startup companies fizzle out in the first year or two, that's why I recommend you going with a company that has been around for a long time.
- Supply and Demand - If you aren't up to date with economics lingo, that's OK because I'm here to help. What you want is high product demand with lower supply.
In other words, if you find that several companies are selling a very similar product, you probably shouldn't go down that track.
Why? Because the market is going to become over saturated, meaning more competition than you want.
To help prevent this problem, it helps to be with a company that has a large variety of unique products.
- Product Ordering and Availability - I suggest you check the ordering process of a network marketing company's products.
Do they have online capabilities? Can you order over the phone also?
A major thing that some people do not consider is whether or not the MLM company they are about to sign up to actually has a presence in their city / town.
In some circumstances you will find well established network marketing companies who have used the initiative to get around that problem, by enabling online ordering and a flat delivery rate country wide.
In addition to this, make sure you check out how many, and what countries your potential MLM home business opportunity operate in. You do not want to be limited to just one country.
- Compensation - You are doing this venture because you want to earn an extra income, so you should probably look into how each MLM home business opportunity is going to pay you.
They will vary and some will be better than others. At the end of the day it's up to you with which one you think is best, or is more suited to your needs.
Here is an example of the
network marketing compensation plan
of the MLM company I’m with.
- Customer Service - If you want to get a feel for the customer service of a particular company, just pick your phone up and call them.
The manner in which they treat you will give you a good indication of what the company is like as a whole. If they care about you, they will look after you. It's also a good way to check the credibility of the company.
- The Plan - What is a plan? Well, a plan summarises how MLM home business opportunity actually operates. It breaks down how they get their products, how those products get to your customers and where your portion of the money comes from.
Plans will tend to be similar, but again, it's reassuring to see where your MLM home business opportunity gets the money to pay you. Because at the end of the day, the most important thing is that YOU get paid right?
Now that you have a good solid check off list to go with, you shouldn't go wrong when it comes to making a decision and selecting an network marketing company for your MLM home business opportunity.
If you have any questions or need more advice/extra clarification, just send me an email using the submission form in the contact me link on the navigation bar. Happy hunting!
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