Interested in a Network Marketing Company? 3 Things to Consider
Did you have an Avon lady in your neighborhood? Or maybe you’ve attended a Tupperware Party.
It takes many forms nowadays but network marketing, aka direct sales or multi-level marketing, has emerged as a viable money maker, giving those willing to leverage their network the training and products to build solid businesses.
Nearly 20 million Americans were involved in direct sales in 2015, an 11 percent growth from the year before. The Direct Selling Association expects up to a 5 percent growth per year for the next 3 years, so the market is strong and growing.
I'm involved in a few network marketing organizations myself and have seen firsthand the amazing opportunities the industry provides.
With all the options out there, how do you decide what network marketing company to partner with?
I chatted recently with Stacy, a long time member of the Live Out Loud organization, on what to look for in a network marketing company and I want to share those tips right now:
Consider the basic stats of the company: its size, how long it’s been in business, and its track record. You don’t want to spend the time and energy to build a direct selling business and a team just for the company to dissolve or go out of business.
And make sure you look into the R&D that goes into the products. Your livelihood is on the line, so don’t invest with a company that makes false claims or sells products that don’t work!
Pay attention to the people who are talking to you about the company. You can go online and read as many reviews as you’d like, but you’re always going to get a mixed bag of opinions.
Focus on the biggest question: Have they made money?
People will be able to give you the best insight on the pay structure, the product, and the company.
Of course, you’ve got to know how you’re getting paid; but you don’t have to be a compensation expert in the direct sales. Really, all you need to know is if the pay structure works for you. Again, ask the people you’re dealing with in the company if they’re satisfied and why.
And remember that if most of your revenues have to come from enrolling others and NOT selling a product or service, you may be walking into something sketchy.
And there you have it!
The “Get 2 to Get 2” mentality doesn't work long term. It’s 2017. If you’re going to pick this industry, then understand that you're creating a business with marketing, a website, databases, pay structures ... make it serious! Don’t do it for a measly extra $20 a week. COMMIT!
If you want to learn more about how to pick a network marketing partner, listen to my Real Money Talks podcast, "Picking a Network Market." Be sure to subscribe, rate and review!
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