Choosing The Right MLM Company
Building a Network Marketing business can be seriously tough! I actually spent years trying to build downlines in companies I secretly hated. Although I believe your MLM company has no correlation with your success in this industry, it sort of does. As if you’re not passionate about your MLM company, you’re going to struggle full stop. There are four things you need to look for in a Network Marketing company:
- Strong Leadership
- Good Product
- A Lucrative Compensation Plan
- Tools, Systems & Marketing Training
If your Network Marketing company doesn’t have all of the above things, you’re going to struggle. If there’s no strong leadership then I wouldn’t take a second glance. What the heck is leadership? Well a strong group of people “backing” the company who are 110% dedicated to making the company successful. You need to look for company owners and distributors who are dedicated to taking their company to new heights for decades to come.
As for the product…
If there’s no good product, it puts me off. There’s a lot to be said about MLM products and what works best. To be honest, anything can work, as we don’t sell the product, we sell the dream and vision.
With all that David Wood talk over, a good product will dramatically impact the way you build your business. As your product is a useful selling point.
Although I’ve known people who are able to enroll reps without even mentioning the word product, it’s hard to do. So when you do have to talk about your company’s product, it better be good. As the majority of newcomers in this industry make an instant judgment about your company when they hear what the product is.
If it’s something they don’t like, then they’re not going to want to join you. Well, at least not right away. Back when I was building an Amway business, I had to persuade people to buy random crap like soap and vitamins. People didn’t want to switch to Amway stuff, it wasn’t cheap and it wasn’t any better. But I persuaded them to join after countless hours of Jedi mind tricks. Point being, things are much easier when your company has an attractive product. I would avoid expensive juice and vitamins; go for something more unique.
As for the comp plan…
It really isn’t as important as the other aspects, but still a key element. Most networkers will tell you the comp plan is either super important or not even worth talking about. As long as you can make upfront cash while building a long-term residual income, the minor details don’t matter. I’d avoid matrix-type comp plans as they tend to die fairly quickly.
The average lifespan of a matrix is around 8-12 months, so avoid those. The two key components of a good plan are fast start bonuses and residual income. Fast start bonuses mean upfront money as soon as you sponsor someone and residual income means a monthly paycheck. As that’s why most people get involved in Network Marketing, to build a long-term residual income that builds itself.
Lastly… tools, systems, and marketing training.
If you find a company that ticks all of the other boxes but lacks the tools, systems, and marketing training… it’s not the end of the world. You can create that stuff yourself. You need to look at companies with a leader’s mindset. Tools, systems, and marketing training are essential for building a downline that duplicates down hundreds of levels.
Without them, you’re practically on your own. You need tools like contact management, websites, and general marketing material. Then with systems, you need sales funnels and, of course, you need marketing training. You’re probably not going to find many companies with solid marketing material. Unfortunately, most Network Marketing companies still think it’s 1969. It’s a huge plus if you find a company that has systems, tools, and training. But… you can always do your own thing. Create your own lead capture pages, blogs, video presentations, and email series. Just remember…
…People join people, not companies.
In Prosperity,
David Wood
P.S. Let me know your thoughts, comments, and questions in the box below.
Comments
Emma, July 19, 2020, 2:15 pm
This is really helpful! Thank you for sharing your insights, David. I’ve been struggling to choose the right MLM company and your tips make a lot of sense.
John, July 20, 2020, 10:42 am
I agree with the importance of leadership. It’s crucial to have a strong team backing the company. Thanks for the great post!
Emma, July 19, 2020, 2:15 pm
This is really helpful! Thank you for sharing your insights, David. I’ve been struggling to choose the right MLM company and your tips make a lot of sense.
John, July 20, 2020, 10:42 am
I agree with the importance of leadership. It’s crucial to have a strong team backing the company. Thanks for the great post!
Sarah, July 21, 2020, 4:30 pm
I’ve been in MLM for a few years and finding a good product is always the hardest part. Your advice on this is spot on!
Michael, July 22, 2020, 9:15 am
Creating tools and systems is something I’ve been focusing on recently. Great to see this highlighted as a key factor. Very informative!
Linda, July 23, 2020, 11:47 am
Residual income is definitely what attracted me to MLM in the first place. Thanks for breaking down the comp plan importance!
David, July 24, 2020, 3:05 pm
Excellent post, David. I’ve been looking for a new MLM company and your tips will certainly help me make a more informed decision.
Rachel, July 25, 2020, 6:30 pm
I’ve been burned by bad MLM companies before. Your advice here is invaluable for anyone looking to avoid the same mistakes. Thank you!
James, July 26, 2020, 8:20 am
Leadership and good products are non-negotiable for me. This post reaffirms that I’m on the right track. Great read!
