With thousands of Network Marketing companies opening their doors every day, it’s extremely important to make sure that you align yourself with one that will be mutually beneficial for both you and the company you partner with.
After carefully observing the trends of the fly by night companies versus those that have a strong and solid reputation with a long term vision for growth and success for their Reps, I have put together a 5 Point Checklist that you must use BEFORE signing up with any company.
1. Company / Vision
Knowing the integrity and vision of your company is critical to your decision making process, and it must not be overlooked. Far too many times, people joined up with companies where the owner just wanted to make a quick buck, and had no personal interest in the long term success of their reps.
Partnering with a company whose vision is both long term and fully committed to the growth of the company and the success of the reps will provide more security and confidence in your future and growth within that organization.
Be sure to ask questions about the ownership. Listen in on their calls. Attend the meetings when they speak so that you can judge the genuineness of the leaders and their intentions. If you do this upfront, you will prevent wasting time and money and save yourself from massive heartache and disappointment later.
2. Leadership / Upline
Being associated with the right team and up-line leadership can make or break your business. This may step on some toes but it has to be said. Joining a company to do your cousin or brother a favor isn’t going to work if you’re not serious about building a business. You want to make sure that your up-line and team has systems in place that will provide training and support where needed.
If you join any random team without guaranteeing that you’re under proper leadership, it won’t take long before you lose your zeal and eventually get disconnected from what’s happening within the company.
One of the benefits of being involved with a network marketing company is the ability to be amongst an exciting culture of people that motivate and challenge you to grow. If you aren’t plugged in with that culture, the chances of you surviving alone are slim to none.
Be sure to get to know your potential upline, visit their meetings and join in on their calls to see what kind of support system you’re connected to.
To succeed in any business you must have systems in place to support you and the growth of your organization. Network Marketing is all about building a team of people that duplicate you and your efforts so that you can begin developing a residual income.
The most frustrating scenario is one in which there is no structure and no systems in place that support the growth of a blossoming organization. It’s as frustrating as sitting in traffic because that’s exactly how you’ll feel when your team is growing but the duplication isn’t happening due to a lack of systems.
Every leader should be preaching the same message. This is not the place where you want to reinvent the wheel or promote superstardom. The more duplicable your systems are, the quicker you’ll grow and the more success you and your team will experience.
There’s a common myth that products don’t matter, but that’s not true. In order to generate an income in your business, you have to sell something so it’s best to ensure that you’re selling something that people are willing to buy.
Far too many times, I’ve seen people begging for a sale, trying to convince someone that they “need” their product. The best way to master the art of sales is to be sure that you’re selling umbrellas when it’s raining and snow boots when it snows.
If your company is trying to create a market for your product, it will be much harder to convert sales, rather than selling products that are already in demand. The reason why most people despise the term sales is simply because of the idea of “convincing people” to buy, rather than having people chase you for the purchase. Remember, “People HATE to be sold, but they LOVE to buy.”
When you are selling the right product, you will find more motivation and commitment to build your business along with great potential to keep your team inspired to continue making sales.
Be honest with yourself when assessing the potential companies’ product. Make sure you will be a customer first, if you know for a fact that you wouldn’t dare buy them, don’t fool yourself into believing others will either. Exercise integrity when choosing a company, use the product or service yourself and give honest opinions of the product.
5. Compensation Plan
Money does matter so the comp plan has to make sense. Compensation plans can often be more complex than necessary so before partnering up with the potential companies that you’re considering, ask the following questions to make sure that your time invested in building this organization is worth it.
- What percentage of earnings do I make for each sale?
- How much do I earn for each new rep that I sign up?
- What is the percentage of overrides that you will earn from your organization, and what do you need to do to qualify?
- What bonuses are being offered and what do you need to do to earn them?
Work is definitely required in order for you to generate a generous income. However, the compensation plan must make sense and you want to understand the numbers and the work involved to earn a decent income.
Now that you have the 5 Point checklist to selecting the right Network Marketing company, visit here and get a FREE booklet on “Prospect to Win”. Then you should be well on your way to partnering with an amazing company and accomplishing great success!
All the best!