The growth of the Internet and people looking to earn some extra money from home, paved the way for MLM companies to double over the last decade. With this growth in interest in network marketing, many new companies have sprung up to join the ranks of the time-tested, older MLM companies.
If you are thinking of starting a side career in MLM, or just want to see how your current company measures up, take note of the critical things to look for when choosing an MLM company.
The first thing to look for is stability. It would be best if an MLM company has been in business for 2 to 5 years. There is really something about companies that have already "stood the test of time".
The longer the MLM company has been around, the more chance of it staying around. There are enough things to worry about in network marketing, such as sponsoring and advertising, without having to wonder if your company will be around next year.
Even if you were able to build the biggest downline and become the highest earner in the MLM company, it would not matter if they suddenly shut down. There are never any guarantees, but a company with a longer track record generally has more chances of longevity.
The second thing to look for is the one in charge of the company. Who is the president, and who are the directors? What is their track record? Have they spent time in the network marketing industry, or are they new to it all? What businesses have they been involved with in the past?
If you do not know the answer to these questions, call or email the company to find out. It is critical to know the answers to these questions from the outset. If you plan to spend many years with the MLM company, you would want to be dealing with people who are honest, savvy, and have integrity in and outside of the business world.
Third, is the product being marketed. Generally speaking, the more products the better. The fewer products you have, the more chance your prospects or potential customers might not be interested.
There was one MLM telecommunications company that recently went bankrupt. They basically only had a few products in the industry. Perhaps if they had added some nutritional products, they could have survived.
In addition to this, the products should be competitively priced, and somewhat unique.
Fourth, know if it is easy to start in that MLM company. Can people join online, or do they have to fill out paper forms?
Having the option to join online makes the whole process a lot easier. On the same note, having the option to join free will open up your opportunity to many more people.
Your MLM company should let people join free and allow them to market the products to earn income. Once someone has joined free, they have partially committed to the business. This makes it easier for you and your company to follow up with them, via mail or email.
Lastly, the more automated the MLM company is, the better. They should give you a personal company website that you can refer prospects to. A prospect should be able to contact you from that page.
And the MLM company should have a series of emails that follow up with your prospects.