Are you looking for a network marketing opportunity to create additional income and perhaps even achieve total financial and time freedom?
Have you tried a business in the past that just didn’t work out as you had hoped? Do you KNOW you can be successful with a business, and just feel you need to find what’s right for you?
Perhaps you already have a network marketing business, but something just doesn’t seem right about it. Maybe you just don’t feel comfortable promoting it, for some reason. If you feel that way, you are not alone. I have been there and done that for sure. I’m here to help you sort through some of this.
Finding the best network marketing opportunity for YOU is a challenging process that requires some thought. Honestly, I’ve found that way too many people start a particular home business because they have been pumped up with hype and promises of great wealth. Being excited about making money and achieving your dreams is important, but it’s just as important to think about your vehicle (your chosen opportunity and products) carefully before jumping in.
To get started, let’s take a look at six important questions you can ask yourself, when considering whether a particular opportunity you’re considering is right for you.
You might feel excited about sharing products that you personally like and enjoy, and if you do, that’s the key! Some people, though, choose to represent products based more on a perception of “how much money I can make”.
The latest wonder weight loss product might have tons potential for making some fast money, but if you aren’t excited about sharing that type of product, what’s the use?
2. What is the appeal of the products to retail customers who aren’t participating in the business opportunity?
In some cases companies take a product line and create a network marketing opportunity around it. If the products are not really that great, and overpriced as well, then the primary customers will be the marketers who are hoping to make money. It’s important to have products that actually have a market outside of the income opportunity itself.
3. Are the products “faddish” in nature?
Some MLM products are created to make a big splash in hot and trendy markets – for example, weight loss. Obviously, this is common because some markets just have huge demand and there is always a stream of new and exciting products being introduced. Weight loss is just one example.
If you are seeking a quick short-term income and can accept the risk, there is good money to be made this way. The problem is, when the next big hot product comes along (complete with celebrity endorsement) your product may fall out of favor. Sales may drop dramatically and your income with it. People you sponsored may jump to other programs based on what’s hot at the moment.
If your interest is in building a long-term and stable home business, consider products or services that have long-term appeal that isn’t based on what’s hot at the moment.
4. Does the company behind the opportunity have a stable history?
The number of years a company has been around isn’t the most important thing, because all successful businesses were once startups. However, it is more risky to team up with an opportunity that is brand new, than to go with a more mature and established company.
Some MLM promoters talk about “getting in early” and riding some sort of momentum and “catching the wave”. Sure, you can go with a startup and perhaps make some money for a time. However, striking out with an unproven venture, there is increased risk of putting your heart and soul into it and losing it all if the company or product doesn’t cut it.
Always remember that the market determines the viability of an opportunity. I have always believed, and taught, that it’s better to choose a product line that has a proven history and appeal outside the distributor group itself. This is the way to go if you are seeking long-term and stable residual income.
A network marketing opportunity pays when products are sold or consumed. There is a certain amount allocated for payout to distributors. For example, for every $100 of product sold, 50% or $50.00 may be allocated for paying out at various levels, depending on the compensation plan.
The key consideration here is how much of that money is available for payout up front? New distributors need to have the opportunity to get into profit quickly. A retailing opportunity works for some, while many companies today have “fast start bonuses” that allow new business builders to make decent income while they are building their downline team.
Residual income is the ultimate goal, but while you are building your team, there must be a way to make the business profitable and worthwhile.
6. What is your upline team like?
If you feel good about a particular business you’ve found, think about the support and ongoing training you’ll receive.
Is the person you are thinking of signing up with a “recruiter” or a “sponsor”? A recruiter enrolls people and moves on to other prospects, often leaving you to figure out things on your own with minimal support. A sponsor is on your team and is very interested in your success.
A sponsor knows that their success depends on helping others (you) get what you want from your business. A recruiter tends to throw mud against the wall and hope some sticks. You can’t always know for sure which is which up front, but a good indicator is patience. Ask questions and see if the person you are considering enrolling with takes time to work with you and look at things from the perspective of what’s in it for YOU.
Think about these six considerations when choosing the right network marketing opportunity for you. And, above all, have fun with whatever business you choose!