How To Choose A Network Marketing Company:
When it comes to choosing the right network marketing company for you, it’s been my experience that the vehicle you choose and the people you partner with will dictate your financial success. My good friend and successful networker, Erik Despain and I had a conversation about how to choose the right network marketing company the other day and I thought I would share the “How to choose a network marketing company that’s right for you” checklist.
First it is important to note that network marketing is a truly powerful industry yet few Americans take it seriously. Asian and Hispanic cultures understand the power of this person to person model and they treat it just as serious as any traditional business which is why we see so much financial success in these two cultures. Most of us Americans take more time to decide what we are going to wear than we do in researching the legitimacy of a network marketing opportunity.
I don’t know about you but I’ve been in the industry (and out of it) for 20 years now and I’ve made this mistake time and time again so learn from my mistakes, save yourself a lot of time, energy and effort and do your due diligence BEFORE you launch your network marketing business. 🙂 🙂 🙂
Here’s what 40 yrs of combined experience has taught the both of us about what a company must have before we would consider partnering with them. P.S. If we can’t put a green check by one of these, we will not partner with the company.
How To Choose A Network Marketing Company:
Mission Driven –
- If you have a true vision that people can buy into then your company can have a soul. (Legacy & Longevity)
Stability –
- Company founders are the most important piece of the puzzle that you must look at before making a decision to launch your business. The truth is, the company owns 51% of your business so you better be sure the founders are honorable, experienced, ethical and completely understand that without the distributors, they do not have a company.
- Substantial financial backing and debt free with experience and plans for future investing and International expansion.
Timing is not everything but it is CRUCIAL –
- People who get in on ground floor and go to work before momentum have a huge advantage financially over those who get in after momentum. It’s just a simple fact & a new launch is also for those with thick skin. This phase is always a bumpy ride and just like traditional business, 90% don’t make it past 12 months.
Product –
- Unique, highly consumable/viral and timely product that people are passionate about.
- A product line that people not only use but need in their daily lives & will share even if they make no $$$.
Easily understood product –
- Anybody can easily share the product with people they know and care about.
- People understand it and do not need training, explanation, experience.
Compensation –
- Must be simple to understand and simple to qualify for commissions.
- Pays weekly and monthly bonuses to get your business in the black quickly.
- Lucrative for anyone who launches their business – part time, full time, professional.
- Offers profit sharing. This is a massive incentive for leaders as they earn on every sale and it creates true teamwork.
Technology –
- Disruptive technology. Does it have the ability to positively impact humanity and change the way we think, or what we do in the future? Innovative. Cutting Edge and up to date.
Start Up Cost – All legitimate businesses have some sort of startup cost.
- Must have low to mid entry point so everybody can participate. Start packs/kits are not tied to comp plan. This truly levels the playing field for anyone, no matter what pack they come in with, to participate in the same compensation and income generating opportunity.
Training –
- Provide cutting edge marketing technology; mobile apps, fully responsive sites, social media campaigns etc.
- State of the art materials, printed and virtual. Personal attention & field support from corporate.
Customer Service –
- Extraordinary & excellent. As your team builds, this is imperative. Great customer service is non-negotiable.
Choosing the right network marketing company is not rocket science. Much like exploring a traditional business, you need to do your due diligence. Research the competition, the timing, the finances, the growth potential, the corporate staff, etc etc. but the simple fact is that 99% of people do not fully understand how to choose a network marketing company or how to evaluate a business and that’s why they make pour decisions which adversely effects their income and their success.
My biggest failure thus far in making the best choice is that I give people the benefit of the doubt too often. When it comes to corporate executives I’ve missed the mark. Thus, this one thing is the most important for me every time and in my experience in interviewing 100’s of leaders in the industry, they all say that the corporate execs and owners make or break your business.
So what company are you researching? Does it meet or exceed all of these requirements? If you are not sure, then take the time to call customer service yourself, ask some questions and see how you are treated or how they respond. Take the time to get to know the corporate staff, the founders etc. Do some online and offline research and see what you come up with.
Before I choose to partner with a company I spend weeks evaluating the company, the mission, the founders, the distributors, the product, the philosophy etc. I reach out to every leader in my circle and personally asked them about the corporate leaders & master distributor if there is one. I “Google” every name, I find everything I can that may be a hurdle or a pebble to trip over, to have to explain, etc. I look for green lights and red flags. I speak to all of the corporate staff via phone calls and I go to meet them in person, try the products, get a feel for their sincerity etc. I listen to all calls, company events, etc. You may not have the time or finances to go to this extent but be sure you are joining someone who has. Even then, it’s always a gamble, you just want to make it as calculated as possible.
Even if you are already with a company, I encourage you to go back and answer these questions. Go through this checklist and if you feel that some pieces are missing, ask yourself if it is in fact the right network marketing company for you? Will it provide long term, passive, residual income? Do the customers or distributors that are really customers (there are a lot of them in the industry and it’s a great thing) reorder every month? etc. etc.
When it comes to you and your teams long term success…this “how to choose a network marketing company” checklist is important. Evaluating our success is important. Establishing a plan of action and a launch strategy once you do find the right opportunity for you, is imperative.
If you are struggling to find the time and qualified leads, be sure to subscribe to get my “Lead generation on a shoestring budget” Rolodex of tools, tips and techniques I’ve used over the past 5 years to build a successful network marketing business from home. I truly open up the arsenal and let you in on all of my free lead generation, time saving, team building and networking tools, tips, scripts and more that I’ve used to reach top rank and become the International distributor of the year in network marketing. So subscribe and download your copy and let’s get you on the path to becoming the next network marketing knockout in your company!
fortune favors the action taker,
Dani Walker
P.S. What evaluation techniques do you use to choose a network marketing company? Leave a comment and let’s connect.
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