The main reason why people decide to commit to network marketing is for a better life, financial independence, and of course, financial freedom. The majority of people who join do not realize that, although the business model is extremely simple, it is extremely difficult. They sign up with 'hope', but without guidance and proper training, all hope is lost within just a couple of months.
Network Marketing is simple - but it is not easy. That being said, it is important to find a company that makes it as simple as possible, and offers all the support you need to succeed.
Network marketing is rarely about the product. The business plan is effective no matter what the product is that you are 'sharing' or distributing. As an Independent Distributor, the most important factor in your choice of network marketing companies is that you find one that is: financially secure; has established themselves as a legitimate vehicle of financial opportunity; and something you believe you can commit to for 5 to 10 years as you work towards financial freedom.
So how do you know what is good and what is bad?
A 'good' network marketing company (often called an MLM: MultiLevel Marketing Company or Referral Marketing) offers: a good balance of leadership training; a legitimate business plan; is regulated by the Federal Trade Commission; has ethical recruitment policies; has real products.
A 'great' network marketing company is, what many call, a 5-star opportunity. Much like a 5-star hotel, an MLM that is a 5-star opportunity is a top quality company.
The following 5 questions should b e asked when determining a great company within the Network Marketing industry:
1. Do they have the right product?
2. Is the timing right?
3. Are the company/management/leadership team solid and are they willing to help you succeed?
4. Do they have a viable compensation plan?
5. Do you feel good about working with this company (its not a used car salesman type company)
1. Do they have the right product?
If the product is phenomenal, then this is a big plus. Again, a network marketing business plan can sell/distribute just about anything with success. But if it's a phenomenal product, then it makes your decision to join a specific company stronger.
2. Is the timing right?
Is the product in an industry that is growing? You want to be with the trends and not in a falling trend. Do you see continued growth within this trend, or did you get in too late?
3. Are the company/management/leadership team solid and are they willing to help you succeed?
If they just sign you up and throw you to the wolves, this is not a management team or leadership team that is willing to help you succeed. They need to offer leadership training and continued support from day one to year ten!
4. Do they have a viable compensation plan?
Do they pay you right away for getting off to a good start, and help people you sponsor do the same? Getting paid is a big motivator in continuing success in a Network Marketing company.
5. Do you feel good about working with this company?
Do they think about something 'bigger' than themselves? Are they a charitable company? Do they see outside the company and believe in a bigger cause like the environment, poverty, etc.?
Are they about the independent distributor or about the owners? If it is a public traded company beware! A public traded company is all about the bottom line and all about the stockholders; where Independent Distributors come 2nd, 3rd, or last.
These 5 important questions can help you weed out the good from the bad, and single out the great and incredibly viable! These questions determine the 5-star opportunity of a network marketing company.
It's up to you to dedicate hard work, time, and have a great commitment to a model that can lead to financial success.
The final consideration is to find out if you are willing to commit to a long-term goal. Some fortunate people can find success right away. Others, the average, will take longer but will attain success if they commit to it. If you want financial freedom, the following fact will take you and your commitment a long way: "90% of all network marketers who stay in the business for 10 years attain the highest level of compensation (From the book: "Your First Year in Network Marketing")."
Good luck
Note: MLM Rankings of the top 10 Netork Marketing Companies (Sept 2009)
1. AVON, INC.
2. Tupperware
3. Longaberger
4. Mary Kay Cosmetics
5. Pampered Chef
6. PartyLite Gifts, Inc
7. Herbalife International
8. MonaVie
9. AMWAY
10. Creative Memories
from http://www.mlmrankings.com/