How do you choose the right company?
What do i want to look for if I am looking for a reputable company to do a home business with?Hi TJ,
Thanks for the question. I have a checklist of sorts that is a good starting point. Take a look and see if it helps you out.
Here are some points to consider (your checklist, so to speak)
1. What is the product you will be marketing?
First and foremost, you are selling product and selling by word of mouth. So the product needs to be something you believe in. Ask yourself, Do you like the product? Would you buy it and use it if you weren’t selling it? Is there a demand for it? Is it of high quality? (Does the company stand behind it with a guarantee?)
2. What is the price for the product?
Is the price reasonable and fair? How does it compare to the price of similar products on the market? Is there a discount available to you as a distributor? In other words, can you make money by retailing the product?
3. What is the initial investment required to get started?
To join an MLM company you are usually required to become a member or a distributor of some kind. To do this there is a cost. How much does it cost to become a business builder in the company you are looking at? Do they offer several levels of entry? What all do you get for your initial investment (product, training material)?
4. How much product do you have to purchase each month?
Most MLM companies will require some sort of personal product purchase in order to be considered a distributor or business builder. How much will it cost you each month? Are you allowed to pick what you would like or are you just sent an auto shipment of products they decide you must buy?
5. Are your earnings based on amount of product sold or the number of distributors you sign up?
While it is desirable to have a downline (people you sponsor into the company), make sure your earnings are based on amount of product sold by you or your downline.
Since you have two goals, retailing and recruiting, you need to pay close attention to #6 & #7
6. Is the product consumable? / Do you have a chance for repeat customers?
Since one of your goals with an MLM company is to retail a product, it helps to know who your target prospects are and how they are going to use the product. Will you be able to get them going on a monthly program of buying your product? Is there an auto ship program to help keep your product moving?
7. Is there training offered to help you build your business?
In my opinion, this is one of the most important areas to check out when you are looking for a good company. Do they offer you a way to get trained and get trained correctly? Network Marketing, like any other job, has its own methods. There are both good and bad ways to go about the business. Your upline is critical to this training.
Your upline is the person who sponsors you into the company and the people who sponsored them in. This is your mentor and coach. This is the person who can get you through the tough times of starting a new business.
Even if the person who sponsors you isn’t the best at training is there someone farther up that is doing the business and having the success you are looking for? 95% of all people who start and MLM business FAIL. The two main reasons are they don’t want to actually work or they aren’t being trained to work the correct way. So if you are committed to the plan than all it takes is the right guidance.
8. What is the companies track record?
Last but not least, you should look at the company and see how it does business. Do the company’s values match up with yours? Have they been around and do they have a stable track record? Check out their website and don’t be afraid to go around the person sponsoring you to do your own research. Don’t believe everything you hear.
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