How to evaluate the quality of an MLM business
Phoenix Alliance’s previous business segment discussed how to succeed in MLM and we mentioned that choosing a good MLM company was an important aspect of it, and deserved to be explained in detail as the main subject of another article. So here we are.
It took me seven years to finally find the Network Marketing company I have now been «happily married» to, for over ten years now. Of course, that was before the Internet and Google were as efficient as they are now. Also, I have to admit that I had not realized how important working with a great company actually is.
So I hope that this article will impress upon you that no amount of talent will ever compensate for choosing the best company for you. And don’t be fooled, there are important business principles to be followed, but you also have to be a good match for each other.
Women when they marry buy a cat in the bag.
– Michel de Montaigne
Based on my personal experience and the experience of many other professional Network Marketers, I identified six crucial aspects that absolutely have to be carefully considered when choosing between all the MLM companies out there. And here they are.
Company
The founder must have a genuine vision and still be at the helm (or a trustworthy successor).
The founder must have previous successful business experience.
The company must put the interest of the distributors before all else.
The company must listen to its leaders, through an official council.
The company and its management team must be of the utmost integrity.
The company must be publicly traded, allowing access to their financial information.
The company must have been in existence for at least 10 years or more.
It must be well capitalized, preferably having started with the founder’s own funds.
It must be solvent, on a continuous basis from one year to the next.
It must show stable growth from one year to the other.
It must reinvent itself, at least every decade or two, to keep up a fresh image.
It must have a good public image, and good public opinion.
It must have accolades and recognition from legitimate third parties.
It must have one area of expertise, and continue perfecting their products through R&D.
Products or services
First of all, you have to use the products and be sincerely passionate about them.
You have to be convinced they will enhance the quality of life of its users.
The products have to be excellent, and always maintain their top ranking.
They also have to be unique, in order to minimize competition as much as possible.
There has to exist a genuine need for the product.
You have to know who your market is, preferably everyone.
The products must actually make the customer’s life better.
The products must be part of a long-lasting trend, in order to avoid any fad.
The products have to be distributed solely through Network Marketing, and not be in stores.
They have to be priced fairly, according to their quality.
Training
Training is very important and so often overlooked, so please avoid this mistake.
The business system offered by the company upon buying your business must be complete.
The training must yield successful business owners, meaning you and your team.
The company’s support must extend throughout your business partnership with them.
The training techniques must allow you to choose between hot and cold markets.
The marketing system must take full advantage of the most up-to-date technology.
The training must create momentum in your team.
Leadership
The team leader who introduces you to the business must be committed to your success.
They must be willing to personally train you, at least for the first few months.
You must feel comfortable with his or her training techniques.
The team leader must have the most experience possible with the company and with MLM.
He or she must have a positive outlook on the industry and not degrade other companies.
They must be passionate about the industry, the company, the products and the pay plan.
They must have a professional attitude at all levels of business operation.
A good leader must tell you exactly how much time and effort are required to meet your goal.
The team leader must be available to you as much as you need, as long as you do your part.
He or she must encourage you to reach your goals and develop your potential.
They must also encourage you to become a leader, and even to surpass them.
Commission structure
The pay plan must meet your needs and expectations.
It should allow you to make at least some money within the first few weeks.
And it should allow you to recover your investment within the first few months.
The details of this subject are quite elaborate and will appear in another Phoenix Alliance business segment.
Compatibility with you
The company and your team leader must match with your personality and your lifestyle.
You must make sure that what you expect to get out of it is feasible with this company.
The time and effort commitments must fit into your current schedule, or be ready to change it.
Find out if there are options of both part-time and full-time.
Also find out what the recruitment requirements are, and if that suits you.
Most important of all, make absolutely certain you will have fun growing your business.
And be excited about it, since that is what will get you through the difficult times.
I invite you to visit this page of our website as an example of a company rated among the best, every year.
For more in depth and detailed information, Phoenix Alliance offers a FREE specialized «What are the most important aspects to consider when choosing an MLM business» seminar to its registered members.
Interesting outside link: « How to Evaluate MLM Companies? »
