MLM multilevel network marketing is a lucrative business–for the 5% who succeed. The depressing reality is that 95% of the millions of people who join even the top network marketing companies never make it.
There are four key components that must be in place for you to succeed in MLM multilevel network marketing.
A solid company.
A great product or products.
A strong team (upline).
An effective system.
A Solid Company:
This component may be the hardest to evaluate on the front end as every company will claim to be the best.
Here are a few things to look for:
What are their assets?
How much debt to they carry?
Have they proven they have staying power?
How well do they reward their distributors?
How charitable are they as a company?
What is the track record of the owner’s before this company?
But maybe the most important: What do their distributors have to say?
If they are financially viable, pay well, give back and receive high marks from their distributors, they are most likely a company worth working for.
A Great Network Marketing Product:
A great network marketing product is the backbone of a solid, well-respected MLM multilevel network marketing business. I would even go so far to say that it is unethical to sell something you do not believe in.
What determines if what you are selling is worth selling?
It meets a need in a person’s life, whether real or perceived.
It is a good value to the person buying it.
You believe in it enough to sell it to your closest friends and family.
If what you are selling meets these criteria, you will also want to look at marketability.
Unlimited Audience: MLM multilevel network marketing is a numbers game. The larger your potential audience, the more potential people you have to sell to. Ideally you would like to be able to target the young and the old and men as well as women, to not disqualify entire populations of people with what you are marketing.
Consumable: Large sales volume is the desired result of network marketing. The faster your costumers consume the sooner they are going to re-order. It makes sense to distribute a product that has to be re-ordered on a monthly basis.
Convenient: You want to be part of a company that has a convenient, automated distribution plan. The less a person has to remember (or you have to call and remind them) to put in their order the better. Companies with auto-ship plans can help assure that your consumers are consistently ordering their product.
Timing: You want what you are marketing to be something that many people desire-something with momentum–it is up-and-coming, it is expanding into new markets, it is exciting and people are talking about it. It is so much easier and more profitable to try to sell on the front end of a revolution than the back end.
Profitability: How easy is it to make money in the company? What type of system do they have set up to pay their distributors? You probably will be more excited about selling a great network marketing product if you make money doing it.
Ultimately, when we define success in mlm multilevel network marketing, making money must be a significant part of the equation. Without it we just have a hobby, which is fine for some, but I doubt what you are looking for. When looking at a network marketing opportunity, you have to honestly consider whether you will be earning enough in the long run to make it worth your time.
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