10 Ways to Choose a Great Network Marketing Opportunity
There are a few network marketing opportunities that are simply scams. There are far more that may be well-intentioned, but have a poor track record for any number of reasons. So how do you separate the wheat from the chaff? Here are 10 questions to ask about the company which will help you choose the correct networking marketing opportunity.
Has the Company Been Around for at Least Five Years?
If you want the efforts you put in today to pay off for many years in the future, choose a company that has proven that it will be around for the long term.
Approximately 90 percent of all network marketing companies fail within their first two years. You don't want to invest your precious time and resources—not to mention your future—in something that may not be in business next month.
Is the Company Well-Capitalized?
Does the company have the cash that it will need to grow, to maintain a solid infrastructure, to attract talented management, to keep pace with technology, and to pay your commissions? Publicly traded companies are required to disclose their financial condition in great detail every 90 days to the SEC and other governmental agencies. You may not be able to obtain this information about a private company and may have to take a risk on its financial condition.
Does the Company Offer Products or Services That Are Unique?
Ensure that the products or services not readily available elsewhere—especially at a discount—and they're not just another "me too" product or service that has loads of competition.
Is There a Genuine Need for the Product or Service?
You've probably heard horror stories about people ending up with a garage full of expensive water filters or other items. This happens because only other distributors will purchase the product at that price. Your product or service must fill a real need at a fair price, and there should be a large untapped market for it.
In other words, it must provide tremendous value so that the customer is the biggest winner.
Is the Product or Service Trendy or a Fad?
You can't build long-term residual income if the product or service only has short-term appeal—e.g., beanie babies, etc. Think long term instead. Is the product or service something that your customers will continue to use for a long time?
Can You Generate Immediate Income?
You need to be able to finance your marketing and expansion efforts from cash flow. Having to invest hundreds or thousands of dollars now only to see a return on investment months from now is not a good strategy.
Does the Marketing System Take Full Advantage of Technology?
Not everyone is a sales type, but anybody can plug into a system and tools that do the selling and sorting for you. This can be as simple as scripts or email campaigns or as full-blown as an entire marketing funnel. The important thing is that you're given a marketing system that is already proven to work and not required to trial-and-error your own.
Is the Person Who Is Introducing You to the Opportunity Committed to Your Success?
If they are, the company is strong, and the product or service is a winner, you will succeed.
You will have to put the effort in to learn the systems and processes that make it work, but there's a big difference between a sponsor and a recruiter. A sponsor coaches, motivates, and trains and a recruiter just signs people up and, in most cases, abandons them once their commission is collected.
Is There a Way to Build Your Business Part-Time Without Losing Your Full-Time Income?
The company must have automated systems that can do the heavy lifting—selling and sorting—for you so that you can use your limited time efficiently. Being able to build your business part-time while keeping your full-time income is the least risky way to transition to a new source of revenue.
Will You Have Fun?
Although this may not be an element of your current job, it is important. You should have fun with your business partners while you work together to build a long-term business and your financial army.
So there you have it—10 criteria for selecting a superior network marketing opportunity. Of course, even with a great company, there's no such thing as a free lunch. You will have to work! However, with the right opportunity, your job won't have to be forever.