The MLM or Network Marketing Industry can be really rewarding and profitable, yet it’s unfortunately misrepresented and misunderstood by many.
You’re looking for top MLM companies. Why?
Is your goal to find a great company you can join? Unfortunately, searching for the top MLM companies may not be the best way to decide what company you should join.
First, let’s discuss Network Marketing. What is Network Marketing all about?
It’s based on a very simple concept. Instead of setting up retail stores in multiple cities and towns, a company contracts consultants or distributors to market and sell their products and/or services.
Paying for retail space as well as utilities, employees and insurance can be expensive so this eliminates those expenses. Having to spend money on marketing to gather customers can also put a dent in the budget.
This is where the consultants or distributors come in. We, as network marketers are responsible for producing our own leads and prospects for whatever product or service we are selling. Then we are compensated by The Top MLM or network marketing company Hints we have a contract with. This is the money they would have otherwise spent on retail space, utilities, advertising etc.
Through effective marketing strategies, we are able to find customers for what we are offering. Quite often, many of these customers decide to become consultants because it appears to be a wonderful opportunity.
Herein lies the problem. It is a wonderful opportunity, but running a successful MLM or network marketing business doesn’t have a whole lot to do with joining the top MLM company.
Being successful at network marketing is about taking ownership and responsibility over your own business. This is so important because you are starting your own business when you join a network marketing company.
Is It A Bad Idea To Look For Top MLM Companies?
No. I’m not saying it’s a bad idea. I’m simply saying that there are many other things to think about when making a decision to get started in this industry.
Are you excited about the products and/or services? This isn’t a retail job where you just sell what you are told to sell. If you aren’t passionate about the product, people are going to see right through it (and you). Hint: It’s important to market a product that you believe in. Something you’d be able (and want) to sell, even if it wasn’t attached to a business opportunity.
Does the company provide you with the proper leadership, tools and training? This may be the first time you have started your own business. It’s important to make sure that you are going to be provided with the proper tools and training for you to be successful. Hint: This is not only about you and your success, but also about your future team members. If the training isn’t already in place, the responsibility for teaching your new members how their business works will be your responsibility.
How is the order processing handled? Will you be responsible for any monthly costs or overhead? Are you going to be taking the orders or will they be handled directly through the company? Hint: You want as much of this to be automated and handled by your company for you as possible!
How does the compensation plan work? Will you be able to make the type of income you desire on your own personal efforts or will it take a team of thousands beneath you to reach that goal? This can be a big one and is one of the reasons that we are involved in the company we are in. Hint: sometimes making one or two high ticket sales can be easier, and more profitable than making hundreds of smaller sales.
Who are you going to sign up with? In all network marketing companies, you sign up under another distributor who becomes your sponsor. It’s an added bonus if you can find a good sponsor. Someone who understands this industry and who is interested in helping you succeed. Hint: You want to join under someone who isn’t just there to sell you something, but who is interested in sharing their experiences and knowledge to help you with your business.
At the end of the day, you are the one who is ultimately responsible for your success, but having a good sponsor can help take months or even years off of your learning curve.
What are the leaders of the company like? Do they represent nothing but integrity and high morals or do you even know anything about them? Are they just pictures on the company websites or are they invested in the success of their business? Hint: You want to be a part of a company that’s headed by the kind of people you’d want to have as close friends – people you can trust, respect, and even look up to.
You see, joining the top MLM company may not be the most important factor in your decision. After all, being the top MLM company isn’t the end-all be-all and that company may be nothing more than a passing fad-who knows?
Hopefully, this helped to give you a few things to think over when making this important decision. Just keep in mind that you are starting your own business which is very exciting, but there is work involved.
However, that day job may soon be just a faded memory if you remember to work harder on your business than you do on your job!
Good luck with your decision and welcome to a wonderful community of entrepreneurs!