When I was first introduced to network marketing in 1979 there were far fewer companies than there are today. Back then, people didn’t go searching for the right network marketing business, but today it’s quite common. In fact, I believe that in order to achieve a high level of success in network marketing, you must be with the right company. Since there are well over 3,000 companies and more popping up every week, the task of finding the right one is often daunting.
Back in the seventies and eighties, it was difficult to research the network marketing industry, but today, primarily because of the internet, it’s quite easy to gather the information that you need in order to make an educated decision. In the past most people got into network marketing because a friend, family member, or co-worker introduced the company. Unfortunately, in most cases, this was not the right company and so it resulted in failure or at best moderate success. Today, you are not forced to go with whatever company is introduced. Now, you can do your own research and find the company that is going to be best for you.
Choosing the right company doesn’t guarantee your success, however it does increase your odds. Ultimately your success in network marketing is determined by what you do. Network marketing is all about building a network of people all buying/using products/services. Your job is quite simple: provide information about your business to people, answer questions and objections, follow-up, sponsor, train, and support. Those who have reached the highest levels of success are those who have done more than those who have failed.
Working in the right company will increase your excitement and enthusiasm, which will make all of the necessary tasks much easier and more enjoyable. Having chosen the right company will increase the odds that the company will be around for many years to come – providing you and your family with financial security.
So, how do you choose the right company? Here are the key factors to consider:
1. Company – Carefully research the company. How long have they been in business as a network marketing company? If they are a new company (under 2 years old) then carefully examine the financial backing and experience of the management team. They should have a solid mix of people who have been involved in managing successful traditional and/or network marketing companies. It's also best if the management team includes people who have been successful distributors. Research the internet to see if the company has any lawsuits or large numbers of people complaining. A solid company is the foundation for your network marketing success. If the company is solid, you can move on to number two.
2. Product/Service – First, is this a product or service you can get passionate about? If not, then you might want to find another company. Second, is this a product or service that is in high demand and will be for many years to come? Third, is this a consumable product or service, where people must re-order every month? Fourth, is the product or service unique in some way?
3. Compensation Plan – Is the plan easy to understand and explain? Does it reward the new person who sponsors a couple people or do you have to sponsor hundreds to make a decent income? Check to see if there are individual and group volume or purchase requirements, so you can weigh that monthly investment into your decision. Find the average amount of time it takes to reach that level. Find out if the commissions are paid monthly, weekly, or daily. Weekly is actually best, as it puts less strain on the company and yet provides quick and consistent pay. The plan should enable a person who has never been involved in network marketing to recoup their initial investment and cover their monthly investment within the first 3 or 4 months. It should also be lucrative enough to attract the big hitters and should enable people to develop a long-term residual income that they will receive whether they work in the business or not.
4. Marketing – Does the company offer full-color marketing pieces, DVD presentations, and customizable associate web sites? Is there training available that teaches you how to market your business? Make sure that the company has developed a solid internet based ordering system (so your customers can order via a web site). Also, the web site should allow you to sponsor new associates.
5. Training – Does the company offer a reasonably priced (under $50) associate training kit? Is there training available on the web? Are there conventions and conferences available in cities near you? Are their weekly webinars and teleconferences.
These are the five main factors you should consider when choosing a company. When companies meet your criteria, then you have to use your gut instinct to make a final decision. Does this company feel right? Do I have a sense of peace? If so, then you are ready to join and begin a successful career in network marketing.
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