7 key things before getting involved into any Network Marketing Company:
Statistics show that 90% of all startup Companies fail in the first 5 years in business. Statistics also show that 90% of the remaining 10% also fail in the next 5 years in business. This also applies to all Network Marketing companies. So before joining any Network Marketing company, you should know the age of the company. How long has it been into existence? It should have at least lasted more than 5 years. 10 years is even better. That proves that the company management is stable and it could survive all those years.
2. Credibility of the Company:
Credibility is defined as “The quality, capability, or power to elicit belief.” And this belief has to be both subjective and objective. What does the company talks about themselves and what other “Credible” sources talk about the company? You need to work with a company which you can trust. A company which you have 100% faith in. Otherwise you might find yourself being trapped in an illegal business (like pyramids schemes) which might bring you problems.
3. Size and Growth of the Company:
The size and growth of the company gives you an idea of the level of success the company has achieved. Where are the offices operating? How many offices they have? In how many countries? How many independent representatives/distributors are with the company? That’s all important.
But an even more important question to ask is how fast is the company growing? A growth is more important than the size. There are companies which have been in business since 1970″s and they have 7,000,000 Independent distributors and there are companies which have started in the late 90″s and they have 6,000,000 Independent distributors.
Now which company should you get involved in? Off course the 2nd company has proven that it’s growing in a rapid pace. That means more money is being generated than the first company. So it’s obviously a smart decision to get involved in the 2nd company. Involved with the 2nd Company.
4. Products:
The type of products the company sells is also very important. There are companies which generate their business without having any products. They claim to build their business using the Network Marketing model. People get enrolled by paying money and recruit other people as well. I want to make this loud and clear to you. Those are not Network Marketing companies and are illegal in most countries. I highly suggest you don’t get involved in such companies. Most of them never last.
Network Marketing is all about having a large group of distributors promoting and marketing a products or services of their respective companies to the market place.
As a token of goodwill, the company shares its profits to them. That’s how Company’s survive and that’s how distributors make money. It’s a win win situation for both the company and the distributor.
Now it’s the job of the company to do their market research and see what products/services are needed in the marketing place. The job of you, the distributor is being able to market those products/services in a hungry market. We all have to admit that not all products sell the same. The products have to have a lot of value to the market place. I’ll share with you the niche markets which the most successful Network Marketing companies focus on. These are:
1. Health and Wellness Products (80% of all Network Marketing Companies)
2. Telecommunication services
3. Vacation
4. Gold and Silver numismatics and jewelry (It’s a growing trend)
5. Education (Self-improvement, Financial education, marketing etc. – a growing trend)
So if you join a Network Marketing company which has positioned themselves into any of the above niches, you should be fine with it. You should also be passionate with the products you promote. Passion is a positive emotion, and emotions are more powerful than logic. “People buy into emotions and justify with logic.” The more emotional you are to your product, the more you sell.
5. Compensation Plan:
You are into Network Marketing to make money. Period! If you want to get into Network Marketing just because of the product(s), then there is no reason for you to continue reading.
If the company you get involved in doesn’t pay you good money for you building the business, I seriously think you should look somewhere else. You have bills and need to pay tuition fees for your children.
Off course almost all Network Marketing can eventually make you earn a large amount of income.
So how do you know if a company pays a lot of money or little money? Simple. Just look at 2 main things.
1. How many people do you need to you recruit in your opportunity to earn a certain amount of money? Compare that with different companies and you will know which company pays better.
2. What is the highest commission you can earn for selling a single product? For some companies it can go to let’s say $200 or more.
The question that might be or should be running in your head right now is,
“For the company to pay a big commission, doesn’t it mean that the price of the product(s) has to be expensive?”
I’ll answer the question in this way. People usually don’t care about the price of the product. You might not agree with my answer but it’s the truth. What people really care is the value of the product they get from that price. So value always comes first. That’s why we see some people save $400 to buy an iPhone or borrow $7000 from the bank to buy a Toyota RAV 4. As long as that person sees value into something they will be willing to pay for that value.
So what is my message? My message is, don’t join a company which sells cheap products. Join a company which sells valuable product and a company which pays you valuable income.
6. Training:
It is said that the best business training is found in a Network Marketing Company. Not in an MBA. I am sorry if I offended you here. But hey! That’s the truth. It’s only in Network Marketing where you can find a dishwasher who’s a high school dropout who ends up becoming a Millionaire in less than 5 years. I’m not saying it’s easy becoming a millionaire in Network Marketing, but there a many success stories of Network Marketers than there are of MBA holders. What I’m saying is you have a higher chance being a millionaire through Network Marketing than an MBA graduate in the corporate world.
It is really important that the company you get involved in has that training to raise you from where you are to where you want to go. It doesn’t matter how BIG you want to grow. There is no limit. And off course to grow bigger, you need to raise your thinking.
As Albert Einstein stated, “The same level of thinking that has brought you to the level of success you have today, will not bring you to the level of success you want for tomorrow or beyond.”
Success is a knowledge which is not taught in school. But in a good Network Marketing company, you will get that knowledge. You will learn the blue print of becoming successful.
7. YOU:
You are the most important factor in the equation of your success in Network Marketing. You might be in the best company, which offers the best product and the best trainings. All is useless if YOU are not willing to do whatever it takes to succeed.
Network Marketing is not a get rich quick scheme. Don’t expect to join a Network Marketing company and do nothing and expect to make a lot of money. Why should they pay you anything? What have you done to deserve anything? To earn $1000/wk you have to pay the price of earning $1000/wk. To earn $10,000/wk you have to pay it’s price. Every good thing has its price.
If YOU want to make it BIG in Network Marketing, go look at the person in the mirror. Do you really want to do it? Do you have what it takes? Are willing to put your heart and soul into the business. The answer to all your success lies within you. Stop looking somewhere else. Only 10% of people in Network Marketing make the BIG bucks and live the life of their dreams. The rest just occupy space and complain about everything but them. We call these people turkeys. To win you need to be an eagle!
As Brian Tracy says: “You can’t fly with the eagles when you’re down scratching your back with the turkeys.”
So are you an eagle or a turkey?
In the coming emails, I’ll be giving some tips on how you can become a better you. Let me give you a secret. If you understand this philosophy which I’m about to tell you and abide by it, you will grow to become a very successful person.
I learned this from a man called Jim Rohn. And it goes like this,
“You get paid according to the value you give to the market place. To increase your income you should increase your value to the market place.”
Now, what does that mean? What that means is STOP working hard at your job. START working hard at yourself (self-development).
The knowledge you have got in the first few days has already increased your value to the market place. You can get paid for that.
So those are the 7 things you need to look at before getting involved in any Network Marketing company. By having this info, you will make the right decision in choosing your Network Marketing Company.
valiant's net 