Because not all network marketing or direct selling businesses are born equal and spending the time up-front, at the beginning, to do your due diligence can pay of enormously later. So here are a couple of things you need to consider before you make the ultimate decision :
How long has the company been in business? Are they privately owned or in public traded. Who is the managerial team and what real world experience to they have in operating and growing an International business? Where are they open for business and can the products or services instantly be shipped into different countries without custom issues?
These are all important questions because most new, ground-floor startup firms fail inside 5 years. Not some. Most. So while it may sound like getting in on the ground floor is an advantage, in numerous cases, it should be a massive warning sign because the chances of this new start up company surviving is terribly slim and your best possibility of success is to join a confirmed MLM business opportunity with a real record which has been in business, on a steady growth curve, for no less than 5 years.
One other thing to consider is the price of the product and services. Ask yourself this one query, "Would the average individual buy this product from this company at this price, under standard market conditions, if a MLM business opportunity wasn't attached to it?" If you cannot honestly answer, "Yes" then you should not join this company.
The explanation is purely economics. Understand most people who start in MLM will sponsor and induct less than three folks their complete careers. In other words, most people never do what's necessary to achieve success in their new business. So if these people are required to make a once per month purchase of a service or product they wouldn't typically buy at that price... They will cancel their autoship and quit. Which is the reason why the once a year attrition rate, the drop out rate, in numerous internet promotion companies is usually in the seventy to 80% range. And any attrition rate higher than twenty p.c. yearly will make building a moneymaking business fast exceedingly challenging.
So the best MLM business opportunity is one that has got a good product that folks already use at a price comparable to what they are already purchasing. If they are used to paying $35 for supplement they already use and are now asked to pay $75... If they do not build the business they may soon give up and go back to paying $35 per bottle.
Next thing you need to seriously consider before beginning any new business is how, specifically, you intend to advertise, market and promote your new business. Because the final analysis is you won't make any money until you sell a lot of products and sign up a lot of new team members. So what is your plan? Because even the best MLM business opportunity out there will not make you a penny unless and until you effectively and efficiently market and promote that business.
How long has the company been in business? Are they privately owned or in public traded. Who is the managerial team and what real world experience to they have in operating and growing an International business? Where are they open for business and can the products or services instantly be shipped into different countries without custom issues?
These are all important questions because most new, ground-floor startup firms fail inside 5 years. Not some. Most. So while it may sound like getting in on the ground floor is an advantage, in numerous cases, it should be a massive warning sign because the chances of this new start up company surviving is terribly slim and your best possibility of success is to join a confirmed MLM business opportunity with a real record which has been in business, on a steady growth curve, for no less than 5 years.
One other thing to consider is the price of the product and services. Ask yourself this one query, "Would the average individual buy this product from this company at this price, under standard market conditions, if a MLM business opportunity wasn't attached to it?" If you cannot honestly answer, "Yes" then you should not join this company.
The explanation is purely economics. Understand most people who start in MLM will sponsor and induct less than three folks their complete careers. In other words, most people never do what's necessary to achieve success in their new business. So if these people are required to make a once per month purchase of a service or product they wouldn't typically buy at that price... They will cancel their autoship and quit. Which is the reason why the once a year attrition rate, the drop out rate, in numerous internet promotion companies is usually in the seventy to 80% range. And any attrition rate higher than twenty p.c. yearly will make building a moneymaking business fast exceedingly challenging.
So the best MLM business opportunity is one that has got a good product that folks already use at a price comparable to what they are already purchasing. If they are used to paying $35 for supplement they already use and are now asked to pay $75... If they do not build the business they may soon give up and go back to paying $35 per bottle.
Next thing you need to seriously consider before beginning any new business is how, specifically, you intend to advertise, market and promote your new business. Because the final analysis is you won't make any money until you sell a lot of products and sign up a lot of new team members. So what is your plan? Because even the best MLM business opportunity out there will not make you a penny unless and until you effectively and efficiently market and promote that business.
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