Would a network marketing tip help you succeed?
If I could give you one network marketing tip, it would be to ask tons of questions before you join any MLM company. Unless you just 'accidently' find one you like, there's a lot to think about. After all, you'll need to spend a lot of your time and money to make more than a 'casual' income. That's why it pays to do your homework before you sign any papers and get committed to one company. It's important to choose a company that fits your lifestyle. So here's 12 network marketing tips or questions to ask someone.
- How long has the company been around? Considering that half of all businesses fail before reaching 5 years, you want to evaluate a new company carefully. I think that there's a "sweet-spot" of not too new but not too old in most companies.
- Does the MLM offer a good compensation plan? Is the compensation realistic for your goals? Do/can you understand the comp plan? Does anyone understand it and can they explain it to you? This is important because it affects how you will be able to make money.
- Will anybody (either from the MLM company or your sponsor) train you? Are you expected to learn how to run your business on your own? Are there books available through the company to help you learn? Does the company offer reasonably priced seminars/workshops? Are there conventions or other large events? And if there are, is attendance optional or required?
- Is the MLM company growing quickly? Can you find out how many other distributors are there? If there's too many, especially near where you live, your local market is saturated. It's hard to earn the B-I-G money in MLM's when there's too many others already in it. If the company is brand new, the opportunity is greater for growth but there will still be the problems that come from 'working out the bugs'.
- Do you like the product? You had better find one you like, especially if it's meant to be eaten or used several times a day! Is there more than one product to consume? Are there more products on the way?
- How much will it cost you each month? Can you really afford it? This is another one to think about being really honest with yourself. Sure, if you start to earn money you can probably afford it really easily. But what if the money is slow to come, and recruitment is difficult? (We learned this network marketing tip hard way. Had an expensive product and the economy tanked. Ouch!)
- Does the MLM company have a mission statement? How does it fit your personal values?
- Does the company have legal problems? Where can you find that out.
- Is there a market for the product being pitched? Is it a broad market or more of a 'niche' market?
- Some of your friends and family are likely to be unhappy that you're involved with a network marketing company. Does the MLM have a product you'll be proud to represent anyway?
- Is the product consumable? That means it's meant to be purchased repeatedly, instead of a one-time or occasional purchase. There's more income for you if the product is meant to be bought on a regular basis.
- Is anybody willing to answer your questions? Some of these will have obvious answers. Will someone try to find the answer for you? If not, why not? You should expect answers to at least most of your questions.
These aren't hard questions. If no one can answer them or if their answers are evasive, that would be a "red flag" to me about the company. It's just my opinion, but I feel think a company that keeps simple answers away from the public may have something to hide. I'd rather keep looking for a different network marketing company. There's plenty of excellent MLM companies to be involved with. Why settle for anything less? I hope these network marketing tips or questions help you make a decision you're happy with.
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