When evaluating a network marketing company, one must take into account 5 crucial criteria. Without these five “pillars,” your success will be temporary through no fault of your own.
MLM Pillar #1-
Does the network marketing company’s management have rock-solid experience backed with unquestionable integrity? I would make it a priority to Google the names of the company leadership and your sponsor to make sure that there are no “skeletons” in their closets. Many of today’s leaders are business people and not network marketers. Heck, most of them can’t even spell MLM! This pillar is important because without experience, management has a tendency to make dumb decisions that affect your income and future.
MLM Pillar #2-
Timing in the company. Timing in the profession of network marketing. Timing within national and global trends. You have heard the saying that “timing is everything.” Well it is true in network marketing, but not in the way you think.
You see capture pages that state that now is the time. They use words like “pre-launch” or “just launched.” Another one to watch out for is “ground floor opportunity.” This ground floor opportunity, most likely, has an elevator that only goes down! Take my advice; run like a jackrabbit when you see those words or phrases in advertising. The majority of these businesses will fail within the first 2 years. I personally have been involved with these types of “opportunities” and they are gone today. Yes a very few of them may make it, but wait a couple of years to see if they are still around. If they are, there will still be plenty of opportunity to make money with them. Don’t waste your money on unproven business opportunities.
MLM Pillar #3-
Remarkable products people will buy even if a compensation plan is not attached to them. If you are trying to promote anything that people will stop buying or using without a compensation plan involved you will fail in the long run. Find a product or products that are life changing; get people to try them and your business will grow, even if they do not become affiliates. With this model you can build royalty income from customers as well as affiliates.
MLM Pillar #4
Seek a compensation plan that rewards the top builders as well as the part-time distributor. Studies show that 96% of your team will be made of part-time people. Many compensation plans are not designed for the little guy just starting out or working the business part time. Most companies do not streamline their businesses and have huge overhead that ends up coming out of the affiliates’ pockets. Look for a streamlined company with the least amount of overhead possible.
MLM Pillar #5
Look for a network marketing company with a proven, duplicable system that allows part-time and full-time people to create residual income. If a system is not duplicable, your chances of success are greatly reduced. Duplication is paramount and it has to be proven so that anyone who plugs in can do it.
There are lots of claims, glitzy websites, promises of astronomical wealth on the internet these days, but very few can deliver. Use this guide to qualify each company you look at to see if it is truly a 5-pillar company. For more information and a free audio recording about the 5-pillars just go to my blog and email me with “MLM 5-pillars in the subject line.”