- How long should MLM companies been in operation to be considered as contenders for your interest?
Most business start- ups fail within the first 3 years so look for a company with at least 5 years of solid growth. The rewards can be bigger getting in on the ground floor of a brand new company but the risk is higher. If they keep changing their prices, compensation plans and marketing systems they may still be in the experimental stage. You want one that is well established with a Turnkey Marketing system that allows you to start marketing immediately.
- What types of products are best?
MLM Companies offer some of the best and most effective consumable products you can find. Look for products that are aimed at ongoing concerns of people all over the world to ensure there is long term demand for the products. Then find a company that produces unique products or services that meet concerns such as diet and losing excess weight, overall health issues, beauty, life extension, environmental issues.
- Are the products items that I would personally use?
Retailing products that you are passionate about will keep your enthusiasm up.
- Is the company financially sound?
Check to see if it listed on the stock market. It is hard to assess the financial position of private companies but publicly listed mlm companies are more transparent as they have to publish regular reports for all to see.
What should I look for in a Compensation Plan? Any decent MLM compensation plan will pay a nice commission for retail sales of the products and an ongoing residual income from sales of those you bring into your organization. There are variations in compensation plans and we would be happy to discuss with you how they work.
- How much time can I spend on my new MLM home business?
When you own and operate your own home business you are the boss and you get to set when you work and how hard you will work. This business is often run part- time but it can’t be run in your spare time. Invest around 10-15 hours a week and be laser-focused on how you use your time. You need to treat your new business as you would had spent $100,000 dollars or more to buy it from someone else. In other words, treat it as a business, not a hobby.
- Am I going to have to bother my friends and relatives?
The answer to this is NO if you don't want to. MLM has joined with Internet Marketing to open up the entire world to your business.You can leverage on social networks and blogs. Times have changed dramatically since the old days of MLM and the changes are all good. But when you start making good money, you’re going to want to share your opportunity with everyone you know. The difference is you will be attracting them to you and not annoying them in any way.
- Does the company provide adequate support system to enable me to carry on the core activities of an MLM business?
Whatever you want to call it..sharing, retailing, selling, marketing.. your main activity is the distribution of goods or services. Being in business for yourself, you are buying the products wholesale from the company you are representing for resale at retail price.
But the more lucrative activity is in building an organisation through which to channel your products, an organisation in which a lot of distributors each doing the same thing. Sponsoring, motivating, educating, training, and supporting people in the organisation are vital activities.