Choosing your network marketing business
When contemplating entering any business it is important to do your homework, to determine the viability of that business and whether it is the right one for you. This first section covers a number of topics that you should consider as part of your decision-making process before becoming involved in network marketing. The message that shines through is that you can never do too much homework on any company that you are looking to work with. The more comfortable you feel with the company, the more commitment you will have and the more successful your business will be. If you are already involved, this section will also be valuable in reaffirming your decision or highlighting something that you had not taken into consideration previously.
- #1 Finding the right network marketing business for you
- #2 The good, the bad and the downright ugly
- #3 Networking versus pyramid schemes
- #4 Take your time and do your homework
- #5 Always get your information from a credible source
- #6 Many fail, but many succeed in a big way
- #7 There will always be hurdles to overcome
#1 Finding the right networking business for you
For the majority of people, their introduction to network marketing has been through an invitation by someone already involved in a particular company, and therefore their only decision has been whether or not to get involved, rather than which company to get involved with you. Today though, due to the growing positive exposure that network marketing is getting around the world, people are initiating contact through their own interest and desire to know more and seeking out companies they would like to be affiliated with.
Network marketing and its acceptance is growing, with an increasing number of network marketing companies operating globally. Their business model, structures, cultures, products and remuneration can vary considerably; it is important to understand this variation rather than thinking of them as all the same.
For instance, you may have a background in the health industry or take a keen interest in your own health and well-being. A network marketing company that specializes in health or has a large product category in this industry may be best suited to you. It may be that your passion is for the beauty industry; again, a company that either specializes in or carries beauty products will be where you can take your passion and make a business of your own. For some it may be professional or specialized services, for others a company that offers a large cross-section of products and services. Other considerations could be that some network marketing business suit your time avail-ability better or that another’s remuneration structure best suits your goals and dreams.
It may be that you are looking for the security of a more established company, or the ground-floor opportunities that newly established companies provide.
Whatever the reason, with so much choice, it is important that you do your homework and find the company that’s right for you.
#2 The good, the bad and the downright ugly
In all industries there are the good companies and not so good companies, the reputable and not so reputable, the ethical and not so ethical. This applies equally to network marketing organisations, although, as we discussed in the introduction, the industry has come a long way in recent years, and corporate compliance regulations in most countries require and enforce the highest of ethical and standards. Most of today’s network marketing companies sell quality products if they didn’t, they simply would not be able to remain in business.
What is really important is to make sure the company is credible. Due to the growing acceptance of network marketing, more and more network marketing companies are being established. The majority are legitimate but some others, recognizing the trend, try to disguise themselves as a network marketing system when in fact they may be a pyramid scheme; still others are planning to be in the market for only a short time, make their money from the unsuspecting, and then disappear.
Remembering that the aim of building a successful network marketing business is to establish a long-term passive income, it is very important that you feel the company you are joining is going to be around for the long term. Longevity within the network marketing industry is a sign of stability, credibility, a sound business model, proven systems ans, most importantly, a commitment to the independent business owner’s long-term profitability.
This is certainly not to suggest that newly formed network marketing companies are not legitimate, but to point out that those companies that have been established over the long term have advantage of offering a sense of security and confidence to those thinking of affiliating with them, as compared to a new company with an unproven record.
So satisfy yourself; do your own research. Talk to other people who are involved, ring the head office or ideally visit it. Buy some of the products to satisfy yourself that they are high quality; in general, do whatever you can to be certain that this is an organisation you would like to be associated with. Don’t believe everything you read, especially when it is online. Don’t be pressured into joining any organisation. If you have any nagging doubts, listen to the little voice inside you. It will soon become fairly clear which network marketing business really are credible and can back up their offers and claims, and which ones to steer clear of— but in the end, it is entirely up to you and to your own due diligence and research.
#3 Networking versus pyramid schemes
For the uninitiated there is a risk of unwittingly getting involved in pyramid scheme, thinking it is network marketing. Unfortunately, because of the growth within the network marketing industry there will always be pyramid schemes around who will go out of their way to disguise themselves as a network marketing company. Due to a crackdown in recent times, these schemes are not as active as they once were, and the risk to the unsuspecting has been minimized.
There are many government organisation and watchdogs that can offer advice on pyramid schemes; a simple online search will give you the right organisation to contact in your country or state. Please take the time to do this.
Pyramid schemes are often extremely convincing and attractive, but they are unethical and illegal. Generally the person at the top of the pyramid makes a pile of money and the people at the bottom lose most of theirs. Pyramid schemes often target people they know who are in network marketing business simply because they already have a network they are selling to. Plus they are generally open-minded and they are motivated to get results.
If an opportunity looks too good to be true, it probably is. Network marketing business can make you a lot of money, but getting there takes time, energy and convocation, They are not an overnight path to fabulous fame and fortune, which is generally how pyramid schemes are sold to the unsuspecting.
#4 Take your time and do your homework
When deciding whether to get involved in network marketing, or which company to be involved with, be sure that you give yourself enough time to make an informed decision. Be careful neither to make an off-the-cuff decision and jump straight in, nor to dismiss the opportunity without checking it out. Whether it takes you a week, a month or a year, take the time to properly research the opportunity. A word of warning, though: be careful that you are not simply procrastinating on getting started due to a fear of the unknown or because you are being influenced by the opinions of others.
It is important that you feel comfortable with your decision; don’t be railroaded rarely by someone ‘selling you on the idea’. People who are railroaded rarely go on to build a successful business. A key to building any successful business is to be excited and passionate about what you do. with so many different network marketing companies now providing a vast array of different products and services, it is important that you find the one that is right for you, the one that you are excited about. When you are doing your homework, take the same approach that you’d use if you were looking to start a traditional business.
If you are looking to make a start in network marketing, use the following series of questions as a framework or reference point which you can come back to. Note down what you like about the opportunity being offered, and what you find challenging, and compare the results to assist you in your decision-making process. If you are already involved in the industry, still note down what you like and what you find challenging about what you are doing, and discuss your pointers with your support team.
#5 Always get information from a credible source
Far too often someone looking at a networking opportunity will seek the advice of people who are simply not qualified to give it. Nearly everyone has some option or other on networking, but when you challenge them, you will find that a large majority have no real knowledge of the industry or how it works. You must be very careful when researching your involvement and looking for more information that you seek it from someone who is qualified to provide it. The person who best fits this criteria is someone has been successful in the industry.
When seeking information, ask yourself: Is this person qualified to be offering this information?. Have they been successful in networking marketing. Have they been successful in any of their endeavors? are they entrepreneurial? Are they financially independent? Or are they struggling financially and going through life on a treadmill?.
Some people will say that information or advice from someone who has been successful in network marketing must inevitable by biased. Others, the smart ones, will see it as commonsense. If you wanted to really lose weight, is it best to get advice on how to do that from someone who has tried and failed, or from someone who has been successful. If you wanted to establish a successful traditional business, would you seek the advice of someone who has failed, or someone who has been successful.
A word of warning on researching via the Internet. While the Internet is a great tool for accessing information, be aware that it also provides a platform for anyone to put unqualified information and negative comments on any subject, including network marketing. If you are using the Internet for research, do not let yourself be influenced by such comments without first being sure of the credibility of the source. The Internet provide you with lots of valuable information, but at the same time it contains just as much valueless nonsense. You need to be sure that you can determine which is which.
In the end, you need to be certain that the decisions you make are not governed by information and advice given by unqualified people.
#6Many fail, but many succeed in a big way
If you’ve never met anyone who has been in network marketing and failed, you simply need to get out more. There are countless numbers of people who have failed at network marketing, just as there are countless numbers of people who have failed at weight loss, a fitness program, learning a new musical instrument, learning a new language, finishing university or, more to the point, traditional business. Dose this mean that no one can ever lose weight, get fit learn to play a musical instrument, speak another language, get fit, get a university degree or have a successful business. Of course not.
The reality is that there will always be a percentage of failures in most endeavors but, as long as there is a percentage of success, it is proof that you too can succeed. The level of succeed and the time taken to achieve it varies from individual to individual, but if you have the drive, the motivation, the stick-ability and, most importantly, the dream, you can make it work.
So when it comes to choosing your network marketing business, once again we come to the key point of this section make an informed decision based on all of the information at hand. Find out about the success stories, but also find out about the failures–and why they failed. Collect a complete and accurate view on the business opportunity to make sure it fits with you and where you are in your life.
#7 There will always be hurdles to overcome
Network marketing provides a great business opportunity, but like all business it has its challenges and pitfalls. The scope of these, and their impact, will vary for each person, with some finding certain areas than others. Compared to some of the challenge and pitfalls faced every day by traditional business owners, those faced in network marketing pale into insignificance. But they are there, and it is important that you are aware of them. In particular, it is crucial that you are aware of the ones that relate to you so you can address or avoid them.
Some of the challenges and pitfalls you may face include:
- Stepping out of your comfort zone
- Negativity from friends and family
- People letting you down
- Having to do extra work on top of what you are already doing
- Not always achieving your goals
- Giving up some leisure time in the short term
- Extra strain on your finances in the short term
- Frustration that it’s not working for you as quickly as you would like.
Everyone who’s gone on to build a successful network marketing business has had their own challenges to overcome and experienced some pitfalls along the way. But all of them have backed that up with hard work, commitment, persistence and a never-give-up attitude, something also required if you are to be successful in traditional business. For most, the road has not always been easy, but the trip has certainly been worth it. They will all tell you. ‘Although it has been challenging at times, compared to what we were doing before network marketing, it has been easy.’