You’ve been talking with a friend online and they have shared with you an exciting opportunity that they are involved in with a multi level marketing company. You find yourself wondering if you shouldn’t look into this for yourself, but where do you begin before you commit yourself to this particular company or business. Evaluating network marketing business opportunities is a critical component of choosing the right MLM opportunity for you.
The first piece of evaluation that needs to take place begins at your mirror. You need to look at yourself first and ask some serious gut level questions. Are you willing to commit yourself to this business? This question goes well beyond merely signing up as a distributor. Statements like “I’ll try this for a few months” or “I’ll just pay the distributor fee, but not purchase any product” demonstrate a lack of commitment and indicate that you are not truly ready to undertake a network marketing business. At the heart of this question are these deeper questions. Will you faithfully use the company products and become a loyal user, not just a distribution point? Will you undertake the company’s training process and commit to utilizing the skills, tools and strategies that you are taught? Will you make a commitment that is unwavering to the building of your business? What this question is really looking at is your willingness to not quit, no matter how discouraged you may be at any given moment. This question also analyzes the size of your dream. Simply having your bills paid off is not large enough to keep you going, you need something much bigger, something much more inspiring to drive you. Finally are you willling to make an investment into your business? This investment entails both monetary investment and the investment of time. If you are not willing to pour your heart and soul into your business, it will go nowhere. If you are not willing to spend money on the resources and tools that will make you profitable, then you should not even consider taking the plunge.
The next evaluation point is the company itself. Not only will you be representing the network marketing company, but they will represent you as well. You want to evaluate their reputation in the market place. A simple Google search will provide you with an incredible amount of information on public sentiment towards a particular company. A search of the Better Business Bureau records will also give you an indication of consumer complaints against the company and their products. Next take the time to examine the distributor agreement. Are there clauses in the distributor agreement that could be detrimental to you and your business. What are your rights as a distributor and do you have a voice in the affairs of the company? It is also a good idea to examine the financials of the company you are considering. Are they experiencing growth in sales? Is the company ladened with debt? Do they have sufficient reserves to weather difficult economic times? Research the top officers of the company and see if their record in prior business undertakings has been good or bad.
After this you will want to examine the compensation plan . Is the compensation plan a stairstep, unilevel, binary or matrix? You will want to evaluate how many generation levels you are able to draw commissions from. You will also want to examine things like breakaway options in a stairstep plan and strong leg/weak leg conditions in a binary plan. Make sure that you are comfortable with the way the plan works and understand how you are paid. You will also want to examine personal and group sales volume requirements and how they affect your commissions and your promotion within the compensation levels of the plan.
The final point of evaluation is the product line itself. Are these products that you will use regularly? Do you so believe in the products and their benefits that you will naturally want to share them with others. Your conviction about the products and services of your company is key in your sales efforts. A lack of conviction and belief will show very quickly to your prospects.
Evaluating network marketing business opportunities does not need to be complicated. A little due diligence on your part can be the foundation of great success, or it can save you from making costly decisions. Remember ultimately your MLM success rests upon your shoulders and your time spent in evaluation will help you find the perfect opportunity for your personality and aspirations.
