KEY POINTS TO LOOK OUT FOR BEFORE JOINING A NETWORK MARKETING COMPANY.
The MLM industry has well over 5,000 companies operating all over the world and statistics shows it will continue to grow in numbers and revenue earnings with distributors and customers joining different companies. However, many tend to jump into a network marketing company with different intent and motives. Some join because of the money they will make in a quick succession , some join as a result cronies and family members who got them introduced in to it. Unfortunately not many of them do their due diligence to have a background check on the said organization for proper guidance. I will say that choosing the right company matters to every home business owner and entrepreneurs who desire a career path in the industry. As the industry continues to grow in numbers it is important to understand some basic factors that should be able to guide you in choosing the right company and find stability with the entity.
Leadership culture of the company –
A culture driven organization says alot about who they are and what they intend to achieve while running he affairs of its operation.
“Leadership is a combination of strategy and character. If you must be without one, be without the strategy.” – General Norman Schwarzkopf
A company with a money making drive will definitely be swept under the carpet in a matter of time and that will be a non motivating factor for intending individuals who want to be part of that kind of vision. There must be checks and balance on the people behind the affairs of the company, do they even have previous experience of the MLM industry? Have they been involved as former distributors to have brought in their wealth of knowledge to steady the ship of its operations?
An effective leader of a culture-driven organization will be recognizable by several traits. When others try to describe him or her, they think of the vision first. The leader is thought of more as a person devoted to a cause than as a manager running a company.
The product line of a company is very essential here but unfortunately, new entrants into this industry have one thing in mind “SHOW ME THE MONEY“. I believe the heart of the company’s business is actually the product as that is what generates revenue when customers and distributors are in tune with it. Again there goes the questions being asked by the public… Are the products unique do they have an already existing market? Are the products positioned in front of a trend or riding a current trend. Scientific proof and clinical studies are also what you need to put into perspective when looking to join an MLM company. The affordability is another aspect you need to research on because this will go a long way in ascertaining its wide acceptability and position in the market trend. These factors putting them together will help build the business for you by way of retention of customer base.
TEAM CULTURE –
plug into a system that encourages growth. so many people fall prey to pitching tent with someone who barely has experience about the company or even network marketing as a whole. Would you want to join a team that will show you no love and not carry you along to achieve success tremendously. I personally look out for a deep team culture where i can find a mentor or mentors that will raise the bar for me personally. Look for a leader that will educate you, inspire and have u go full throttle. There has to bonding and connection so you can develop and crush it. You don’t deserve to be left in the dark when so much is happening within the industry. This is a no brainer as i believe that it is imperative being part of something greater than yourself will be the best place to call home. I have learned the hard-way within the industry myself.
While making plans to join an MLM company, you need to put into perspective the momentum growth of its sales and revenue generation. The first 5 years of a company’s existence is just about the right time to be part of its operation because the 5th year is actually when they will be hitting momentum and getting the right balance. Taking into consideration the high productivity and sales.
MARKETING SYSTEM AND TOOL
One major factor that most network marketers desire is generating leads. That is the hub of any business and without continuous leads into your business, you may find it difficult to achieve massive success. Not a lot of network marketing companies have a marketing system tool that helps capture leads. Having a compensation plan is not enough to allow for distributors to recruit new people into the business.
An automated lead generation systems guarantee many rewards to any firm that uses it. It helps the firm to access reliable customers and market its goods in a simple and fast way. Here are some the advantages you get when using the systems.
- Automated Lead Generation System helps you to find a reliable market for your products, in a very short period of time and help you create a strong customer base.
- The tools are quite efficient and have accessibility to emails through the internet while creating a large market for the company’s goods and services
- Helps create a large market base.
The factors should be put into consideration while looking to sign up with any network marketing company. I highly recommend Online sales pro for a quick upsurge in your business and see the turn of result you will get.
Understanding network marketing compensation plans is essential for success in network marketing.
What are the most commonly used network marketing compensation plans?
How do they differ from each other?
Is there such a thing as the best compensation plan?
Many distributors in network marketing invest a lot of their time, money and lives in the business. These same distributors do not invest any of their time in studying their companies’ compensation plans.
Four types of compensation plans have become the favorites for network marketing companies. Each plan consists of three basic elements, namely:
Commission type, that is, the amount of money that is paid out to distributors each month for their activities during the month
Rules that lay down the criteria distributors need to meet in order to qualify for commissions or rewards and benefits from the company, and
Structure. The rules in a compensation plan that determine where a distributor will be placed in an organisation form the structure of the compensation plan.
Any compensation plan that does not have all three elements will probably not be sustainable in the long run.
The four most commonly used types of network marketing compensation plans are…
- The unilevel plan
- The breakaway plan
- The forced matrix plan
- The binary plan
If you really want to make it big in network marketing, study the compensation plan of any company before signing up.
Do remember that deciding to join a network marketing company solely on the basis of its compensation plan can be disastrous?