Considering joining a Network Marketing or MLM Opportunity?
Make sure you make a wise decision when choosing a MLM opportunity. Here’s what you should know before joining a Network Marketing or MLM opportunity!
Making the right decision about the MLM Opportunity you choose to pursue can be a very difficult task especially if you are new to Network Marketing and have yet to experience all the wonderful possibilities that the MLM industry has to offer. What I am about to share with you is my criteria when choosing a new MLM Opportunity and it is very sound advice.
Currently there are over 12,000 MLM Opportunities in the world and many more opening up every day. There have been many people that have become millionaires in this industry with the current top earner in the whole industry to date earning over a Million a month.
Bottom line a MLM Opportunity can be very rewarding and life changing for sure but you really need to choose wisely when considering to jump in with all you have.
Why? Because 98% of Network Marketing or MLM Opportunity fail with in their first 5 years.
Many companies are here today and gone tomorrow. So if we look at the big picture here you can see that out of the 12,000 companies that are here today only 2% are actually going to stand the test of time.
Real Industry stats are that only about 130 MLM Companies have made it past 10 years historically. That’s a scary number especially since thousands have gone before them and there are over 12,000 here today and more opening all the time.
Your odds are literally better in Vegas unless you know what to look for when choosing a MLM company that will reward you for the long haul which is what I am going to teach you how to do in this post so pay close attention.
It’s so important that you choose your MLM opportunity very, very wisely because time can never be given back.
Your time is in fact priceless! I have seen many MLM Opportunity companies come and go leaving distributors devastated and leaving a huge bruise on the industry as a whole. So my priority in this post is to educate you so that when you make your final decision it is in fact a good one since we are all here for long term residual income that will be here for your children’s, children.
Here are some questions to consider asking or digging deeper on before joining any Network Marketing or MLM Opportunity:
How long has the MLM Opportunity been in business?
I advise that a Network Marketing or MLM Opportunity should be at the least 5 years old but be aware that many of the big giants today in Network Marketing because the fortunes have been made. I love it when someone pitches me on the fact that they have the masses joining their MLM Opportunity. This is funny to me because if they have 20,000 people or whatever joining a week that’s 20,000 people less that I can NOT sponsor. Which means more than likely the market has been saturated for this MLM Opportunity! No thanks!
Find a MLM Opportunity that has yet to hit hyperbolic growth but is on track to do so. Don’t follow the herd ever to every MLM Opportunity they decide to jump to! Always be opposite of the herd!! The most successful people don’t do something because everyone else is doing it because it means there is less opportunity for them.
Timing is critical with your MLM Opportunity and usually the bigger they are the harder they fall if a MLM Opportunity is growing too fast.
Is there a need and want for the products that you will be distributing with your new MLM Opportunity?
This is very important to consider upon joining any MLM Opportunity because one of the main components in being successful in your MLM opportunity is auto purchase. You want to make sure that the products being offered by your new MLM opportunity are actually being sought after. Many MLM opportunities offer a variety of products while others will focus on one. Here is the problem with focusing on one or just a few people end up with a garage full of them and they stop ordering.
I feel having many products with a MLM Opportunity creates the most long term residual income because let’s say your prospect tries the “one” product and decides it irritates their skin or the service is poor in their area they will surely not be ale to do the business anymore. But what if they try one product and decided it’s not for them but can try another? Of course if you have many different products and there is something for everyone this will squash this objection about your MLM Opportunity.
Are the products that your MLM Opportunity provides economical?
This is a huge one because we are in tough economic times and many cannot afford a luxury product in this day and age even if they wanted too. Having products that people already are using is very important when choosing a MLM Opportunity. It’s easier for people to simply make a switch rather than feeling as if it is a luxury that they normally would not have. Wouldn’t you agree?
What advantage does the MLM Opportunity in question have with their products and or services?
Meaning are they competitively priced with products that people can’t buy at the big box stores. Many companies have products that are saturated in the market place. This does not mean you cannot build a huge business and many of the Trillion dollar companies to date have proved that. What it all boils down to is that the products your MLM opportunity has are easy to fall in love with and better than what anyone else has.
What Niche is your MLM Opportunity in?
I feel this is also very important because many companies have gone before you and they are either here today or not. History always repeats itself so look closely at the statistics. It is a known fact throughout the industry that Health and Wellness companies have the most longevity. It does not mean that some haven’t failed it means that if we look at some of the giant companies in the industry they have done well because they are in this niche. Look at the Phone or wireless service MLM companies for example the record company was Excel communications and their top earner was making a over million a month. However this MLM Opportunity was short lived holding the record of 9 years in business before it went under.
Is the MLM Opportunity your looking at doing business beyond borders?
This is so key in my decision process because we are a global world now because of technology and I hate limiting my income. Make sure that the opportunity you plan to pursue is seamless in many countries so you can have a real advantage in the market place. I have teams in many countries because of the internet and believe me the rewards for this is tremendous with my MLM Opportunity.
If the MLM Opportunity is not in many countries but you really like it find out what their plans are for global expansion. For example there are a few gas/ electric energy companies out there that are so limited because they only do business in a few states and territory’s in Canada this can be a huge obstacle for you to overcome and I recommend not limiting your income by joining. Finding out later that your cousin in Utah cannot use the services or join your MLM Opportunity is very disappointing, if you ask me.
Can your MLM Opportunity show you the money?
Of course we all want great products and services with any MLM Opportunity! we also want to help others but at the end of the day money is the ultimate motivator and you need big carrots to get the excitement going. I have seen so many MLM Opportunity comp plans that I can tell you
that the majority of them are so unfair to the distributor it’s not even funny.
So here’s what you will want to know or consider about the comp plan with any MLM Opportunity:
- Does the MLM Opportunity pay fairly? Many companies will pay more in the front and leave not very much for residuals or vice versa. I like a MLM Opportunity with a Uni level the best because it pays the fairest and pays evenly with out passing the majority of the profits to the company.
- What hoops will you have to jump through to be paid by your MLM Opportunity? Again many companies promise you a fortune but the majority of their rosey promises are hit or miss. I hope your not here to get a winning lottery ticket because only a few people ever win the lottery. Ask the person presenting you with the opportunity exactly what you will need to do to become successful. How many people you will need to sponsor and then help them sponsor in the MLM Opportunity.
- Is there balancing of legs or volume requirements to be paid on your whole organization? Again hoops and one of the most popular compensation plans to have them is a Binary. You have to sponsor 2 that get 2 to be paid etc. Or you have to have someone holding volume and if they quit you lose all the people in that leg. Big time balancing act with MLM Opportunities that have a binary compensation plan. Also with a binary you will want to make sure that you are placed in a power leg so that you can leverage the compensation plan. Binaries are for the company and not the rep. General rule of thumb!
- Some uni levels have the balancing acts to so look to see if there is a volume requirement per leg so you are paid on your organization. I assure you it is always tough to keep legs balanced because it is a mathematical fact that the attrition is high in any MLM Opportunity and I would hate to see anyone not get paid because of someone elses ignorance. If you do decide on a comp plan that has a balancing act choose your front line wisely and make sure they are clear on their path with the company. Always, always one leg takes off more than another so make sure you ask your sponsor how that works with in your New MLM Opportunity so you know how to conquer it an most importantly duplicate it.
- Are you being/ going to be rewarded fairly for sponsoring to your MLM Opportunity or the MLM Opportunity you are considering? No one wants to be paid unfairly for there hard work. This industry is tough enough so make sure the carrots are big enough when people join you in your MLM Opportunity. I recommend looking for a company that pays out 30% or higher with Fast Starts on what is sold when sponsoring reps or customers. Make sure again there is not any hoops like sponsor 3 and you get paid over 30% because the majority of the people in this industry statistically only sponsor 1.5 people in their whole MLM career with any MLM Opportunity.
Money motivates people! The bigger the carrots the faster your MLM Opportunity will GROW! Period!
If we look at the historic fact that the majority of companies with a binary, matrix, linear, one up or whatever mumbo jumbo comp plan a MLM opportunity has that is not a Uni Level you will more than likely agree with me that a Uni Level has the most longevity. Many of these types of comp plans fizzle out at the bottom. I know several companies right now that have been here more than 5 years but have a binary pay structure and are right now in some hot water financially. I think I have made my point clear that Uni level pay structures are the way to go.
If it sounds to be good to be true and looks hypey run the other way! Many MLM Opportunity’s entice people with the display of people with large checks and make outrageous income claims. This will get them in trouble and is called inducement. Make sure this company is in compliance with that because they very well could be skating on thin ice. Read their disclaimer or ask for it!
Does the MLM Opportunity have a proven leadership track record?
Many companies are simply poorly ran and lack the leadership needed to succeed big time. Make sure you do your due diligence on the President and the companies staff. Look for what their success has been in the past and how long they have been in the industry. You will want to have experienced leadership!
Is the MLM Opportunity debt FREE and does it have great financial backing?
We all know it takes money to make money in any business this same rule applies to MLM Opportunity’s. Find out who owns the company and if they have the financial backing to protect it.
What type of plug and play business system and support does the MLM Opportunity have for their reps?
The Network Marketing industry thrives on duplication. Does the MLM Opportunity have the tools and support you need to succeed? Look at their marketing does it even appeal to you? How about their customer support? Call there customer support and ask questions. If you call during their business hours and no one answers the phone this is a really bad sign because this is a people business and when issues arise and are hard to get resolved it puts doubt in people’s minds. Don’t find out later that the company lacks in support. You will be sorry that you joined if the support is simply not there.
How successful is the team and upline with the MLM Opportunity you are considering ?
This is critical and many people neglect to really pay attention to this when considering a MLM Opportunity. What are they going to do to support your success in your MLM Opportunity. I mean it takes a team to build a army and with out strong leadership on your team that is very hard to do. Make sure that your team has training, presentations, upline support for 3 ways and mentoring. If the person sponsoring you does not have a lot of experience you will need to keep reaching up until you find someone that does. Learning from others MLM Opportunity success is critical and having a relationship that lasts a life time is also important. Make sure this person leads with integrity and picks up their phone or returns your call.
I have sponsored over 200 people and I hear the same sad story over and over again about horrible uplines that would never help their teams in their MLM Opportunity. They just would sponsor people to their MLM Opportunity and see who sticks! Don’t let this happen to you! You can ask to speak with others on their team to see how well the upline has performed. Ask to hear about success stories etc. from other team mates.
As you can see there is much to consider when choosing the right MLM Opportunity for you and your family. Having experienced the devastating effects of a company closing before I have decided that it is really time to educate the masses on choosing a MLM Opportunity that is rewarding. So they are not left high and dry. Even though this company was not my primary business it still has affected me and the people that joined me in it. Sheeeshh it bruised the whole industry really and has made many skeptical of the legitimacy of any MLM Opportunity.
My best advice to anyone seeking a MLM Opportunity is to not jump into the next big MLM Opportunity launch or start up hoping for a big pay out later. Buckle down and get to work with a company that fits your needs and your friends. Become the leader you seek and think long term. If there is a doubt in your mind about the longevity or integrity of the MLM Opportunity that you are with move on. You will find that perfect MLM Opportunity and when you do you will be wildly successful with it. As long as you never quit! Remember to always serve people by helping as many people as you can and watch your MLM Opportunity business flourish.
Any Success worth having is worth fighting for and takes time.
Still looking for that perfect storm with a Very Profitable MLM Opportunity?
I am very happy to say that I have found a MLM Opportunity that meets all of the MLM Opportunity criteria above and if you are serious about your success and the success of others you really should do yourself a favor and check it out!
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The key to success with any MLM Opportunity is to find one and stick with it for many years to come! Every MLM Opportunity is different but one very common missed aspect to consider before joining is leads. You will need leads for your MLM Opportunity! Guaranteed! You will also need to learn the necessary skills to recruit to you MLM Opportunity and train thos that are on your team to do the same.
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I hope you learned a ton from this post about how to chose the right MLM opportunity and I look forward to hearing your success story in the future with your MLM Opportunity! Let me know if there is anything else you look for when choosing a MLM Opportunity or what your thoughts are by leaving a comment below and if you think your friends will enjoy this post be sure to share it with them.
Have questions about how to choose a “MLM Opportunity – What to consider before joining any MLM Opportunity” Go over to Ask April Marie and send me a message. I will respond within 48 hrs with your answer.
April Marie Tucker
April Marie went from being a Single Mom, BROKE Cocktail Server slaving away all night in high heels and a tu-tu in cold Chicago to with in a few months leaving that job and now working 15 to 20 hrs a week from the comfort of her laptop in beautiful SUNNY Florida. She now enjoys traveling the world, living at the beach, raising her 3 children and assisting others to doing the same. April Marie is a Online Marketer that specializes in the Artistry of Network Marketing. She prides herself on helping others that truly have the desire to change their circumstances through sharing much of her training for FREE on this blog but also personally mentoring and coaching people to the top! If you have questions or if you are seeking success online with your business you have certainly come to the right place. Be sure to follow us on Facebook, Twitter and Google+.