Multi-level Marketing (MLM) is by far one of the easiest ways to make money, but how do you find the right MLM for you?
Read this to see if MLM is right for you.
First, you need to know what to look for. When it comes to any type of home based business, you want to work with a company that has “all the stars aligned”.
First thing to look for is the longevity of the business. Has it been around for at least two years. Why two years? Any MLM type company that has made it past the two year mark, has a good chance of being successful for the long-term. Over 95% of companies fail within the first two years for many different reasons.
Who is managing the company? Management is the number one reason why a company fails. It is true that investors invest in people, not just a business idea. A good management team can take a business in the dumps and turn it around and a bad management team can take a thriving business and run it into the ground. I have seen that happen. So you want great management behind any company you get involved with. The last thing you want to do is put your hard work into a company, start making money and then it collapses because of bad management.
You also want to look for the right compensation plan. This is very important since this is how you make money. I personally like an MLM with a binary plan, which is built by the power of two. Basically, in a perfect world if everyone brought in two people you would make six figures per month pretty easily. But that will never happen. This plan has two legs and depending on the company itself, the amount of money you make depends on the lesser leg. An MLM I am involved in has a binary plan and every time I reach $900 in business volume I cycle, which means I make $50. This works on every single person in my down line. So even 1,000 levels deep every time I do $900 in business volume I cycle and make money. This can happen multiple times in a day as the down line builds.
The product is also very important with any company. I personally do not like to sell the product, I like to sell the business opportunity. To me, when it comes to MLM programs, most of the time the product is just overpriced and usually not worth the money spent. This is why you do not join an MLM to buy a product, you join an MLM strictly to make money. MLM companies have internal consumption products, meaning the only people buying the products are people that are in the program. You will not find MLM products in stores. If you can find a product that happens to be superior or a product that more people than not use then you are onto something.
At the end of the day, if you are a professional network marketer you can be successful in any program you push. The reason is, the act of being successful in this industry is basically the same no matter what program you join. Hopefully these simple steps will help someone make the right decision on what program to join.