MLM Tips for Finding the Best MLM Business Opportunity
Often people will ask us, “What is the best MLM business opportunity to join now?”
The knee-jerk reaction is going to be, “Well, the best MLM business to join is mine, of course!” But rather than push our MLM on them we try to offer them some criteria to look for when deciding which network marketing company to join.
Because not all network marketing or direct selling businesses are created equal. Plus, not everyone is a good fit for our team, or our company, even though we do represent the best MLM business opportunity.
And, most importantly, doing your homework/research can pay off massively later.
Peppered below are many options to consider, and among them are the 4 important overall traits which Eric and I believe you should account for when deciding on the best MLM business opportunity for you.
Is the MLM a Solid Company?
Best MLM Business Opportunity Trait #1: When looking for the best MLM business opportunity, you want to make sure you join a company that isn’t going to fold under pressure.
Find out how long the company has been in business. A minimum of 2 years is a good place to start. There are exceptions to this rule of course, but be wary of BRAND NEW ground floor opportunities. Those things come a dime a dozen.
Products vs. People?
You also want to know if the company pushes selling a product or recruiting people. Again, it’s important to know if the company has a long track record or if they are just starting out. A lot of network marketing companies don’t make it through the first five years of existence because they don’t have a proven product.
A company that promotes products and business over recruitment is going to be better in the long run than a company that does not. In fact, if an MLM company’s focus is heavy on recruitment, then it runs very close to an illegal pyramid scheme. The laws of supply and demand cannot support that.
Don’t get me wrong, the best MLM business opportunity is going to strike the right balance on product and people.
That said, there are several MLMs that actually have an incredible retail product that has been around some time and has been proven in the marketplace. Then, to further expansion of a product people already love, these companies decide to join the network marketing arena. You’re much better off in this type of scenario as opposed to a couple of guys who got together and decided to get rich by starting a network marketing company as soon as they can come up with a product.
Who Owns the Best MLM Business Opportunity?
Also find out if the company is held privately or if it is publicly traded. Is the company solvent? Is it in debt? Does the company answer to investors or to its reps?
This can be a very important factor to you because there are some MLMs that have been around for years that are publicly traded companies. We personally feel a completely solvent, privately-owned MLM is going to be in a much better position to offer the best MLM business opportunity than a publicly traded one.
Here’s an example of a powerful MLM that has taken a public beating as of late because that fact.
How Will I Earn Money?
Best MLM Business Opportunity Trait #2: They will offer a fair and easy to understand compensation plan.
Take a good, long look at the compensation plan. Does it make sense to you? Do you see the potential for growth on your end?
Not all compensation plans are set up the same so really take the time to figure out what you are required to do to earn a sizable income.
And just because someone claims to have the highest-paying MLM company, doesn’t make it the best MLM business opportunity. Dig deeper than the claims. Remember, the company has to make money too. If they pay out too much to the distributors, soon there will be no more company left to promote. Super high payouts are also a sign of grossly overpriced products.
Do you have to do all the work yourself or is it set up in a true teamwork fashion?
What did the average rep in that company earn in the previous year? What did the average leader earn? MLM business opportunities are required by law to disclose this information, so you can easily look it up.
The majority of those who get into network marketing recruit about three people throughout their entire career within the business. If you are skilled enough to recruit more people than that, be prepared. Why? The majority of those people won’t have the drive to continue and will later drop out. This is called attrition.
If possible find the attrition rate of the company and if it is greater than 20% you may have a hard time building a profitable business. It’s not impossible, but you’ll have a lot of hard work to do.
More About the Product
Best MLM Business Opportunity Trait #3: They have product that people like and would actually regularly buy auto-ship or not.
Even more important than that. Do you like the products? Yes, we already touched on the product point a little earlier in this blog post. But this one trait truly is KEY because to have a successful MLM you are going to have to be a product of the product. If you don’t like the products or wouldn’t use them… HOW will you ever sell other people on it?
We’ve met people who get into a business and could care less about the product, they just think they can sell it like gangbusters–and they’re gonna get rich. We have yet to see a single person with that mindset follow through with actually getting rich. MLM is a relational business, and relies heavily on word of mouth. Reps who don’t believe in their product never amount to anything.
The best MLM business opportunity will offer no boundaries. So with that in mind, you’ll also want to consider is if the MLM company has a presence in other countries. Will you have the opportunity to grow internationally and recruit outside of North America. Because if so… well, the sky is the limit!
Your Chances for Success?
Best MLM Business Opportunity Trait #4: They have a solid blueprint or roadmap for success.
What does the training and mentorship look like?
Without good leaders and mentors you will not go far in any company – even if it is the best MLM business opportunity. Now that’s not to say that a good mentor should be calling you every day to check in. That is not a mentor’s job.
As a network marketer you need to go in with drive and persistence and a will for success. But a great mentorship and training program should provide you with the keys and tools as well as support you need to succeed.
You want to be part of an active team. One that is excited and consistently growing. If you find a team like that, one with awesome energy flowing up and down the line… YOU. WILL. ROCK.
Which MLM Did We Choose?
For Eric and I, the best MLM for us and the company that fit all of the above criteria perfectly for us is Evolv Health. You can find out more about our awesome team and what we think is the best MLM business opportunity by clicking here.
One more thing before I close and that is – there are two parts to a network marketing opportunity. The “network” which is the people you know that you can talk to about your opportunity. And there is the “marketing” which is really the often forgotten part of the business.
The big difference between those who make a lot of money in network marketing and those who don’t is the ability to market. Even in the best MLM program, you have to master this skill to succeed.
You have to ask yourself if you have a personal marketing strategy to help you find leads, sell product, bring people to you, and basically find success? If not then click here to see a glimpse of the system Eric and I have successfully used to market online.
If this article helped you or if you have questions leave a comment below. We would be happy to hear from you.
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Until next time!
“I share success strategies and MLM tips to help you become a leader in your network marketing business.”
PS: If you want the keys to success for marketing and building a home business, it WILL be easier for you to recruit more reps with more leads, check out the latest program in online lead generation here – Click here to watch the video.
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