BEFORE You Join: What to look for in a Network Marketing Company
What you should know before you join any opportunity, Network Marketing or Affiliate Marketing Company.
I have people ask me all the time what opportunities I recommend. Or they ask me what I think of a specific company. And of course, I have people pitching me on their opportunities multiple times a week.
I make it my business to look at as many different opportunities as I can. I want to be very much aware of what’s going on in the network marketing world. I want to know what the latest trends are, what kinds of companies are being launched, and what companies are stalled or struggling with their growth.
If you’re thinking about joining a company, making a switch, or adding on a new company, what should you look at?
Read on and watch the video below.
#1 – Pre-launch, Launch, or Established
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Pre-Launch Pros & Cons
If you’re looking at an opportunity that’s in pre-launch you’re definitely in the “buyer beware” category. Because there’s absolutely no track record, I don’t care what the opportunity is, you never want to put more money in than you’re willing to lose.
Personally, I’m not likely to join something in pre-launch, where there’s no product or service
that can be sold and shipped yet, if it’s going to cost me more than a one-time fee of $50.
If you’re joining something in pre-launch, be aware that there will always be delays. It’s just the nature of the beast. There will be glitches, technical hiccups, problems with the back office, etc. etc.
Pre-launches can also be great!
There’s tons of potential to grow a team really quickly in pre-launch. It’s a great time to get involved in the right opportunity because so few people will have heard about it. There are usually special discounted fees to join, lifetime deals, special incentives that can be very lucrative, and one-time opportunities for founders.
I like new launches. There’s still lots of upside and growth potential if it’s a good company with a solid product and/or service.
If you’re looking at a company that has just launched in the last 6 months, look at how quickly they’re growing. You want to join a company that is growing very quickly. The initial grow will be a good predictor of the longer-term growth and health of the company.
If a company has been around for 12 – 24 months and doesn’t have at least 100,000 members or distributors I would be concerned. If they have fewer than 100,000 members, it’s a pretty good indicator that they have not be able to attract any big leaders to the company. A big leader should be able to build a team of 10,000 people minimally in a matter of months. A new company with lots of potential should be able to attract several big leaders.
Every business has a natural life cycle. If a company has been around for 10 years or more in your market, in your country, it’s probably going to be more challenging to promote. It will have reached a level of market saturation that means that growth is slowing in your market.
If you’ve got lots of connections or know how to build connections in new markets where the company has more recently launched, or will be launching, great! Go for it.
Always look at where the company is growing and ask yourself it you can build a team in those markets.
Personally, I stay away from companies that have been around for 10 years or more in North America, which is the market where I have the most connections and the most potential to grow.
#2 - Products and Services
Obviously, you have to feel good about the products and/or services the company promotes.
WARNING: Just because you love a product and it’s changed your life, doesn’t mean you’re going to be successful at growing a business. You can always buy the product you love as a customer and find another company where you can really be successful.
If you plan on building a business, you have to
understand and be able to explain the product or service the company provides.
As there are more and more network marketing companies in various areas of cryptocurrency, blockchain, and all kinds of technology I find too many networkers who don’t understand what their company does and can’t explain it. Or worse, they think they understand what their company does and they’re misrepresenting it.
#3 – Trends and Sectors
Pay attention to trends and sectors.
The health and wellness sector is massive. This is a great thing because it proves there’s a big market for products in health and wellness. The downside to this is that there’s tons of competition, not just from other network marketing companies, but also from traditional retailers and the mega online retailers like Amazon.
Do research before you join a product-based company. If a consumer can buy a very similar organic, naturally sourced, same strength product from Amazon at half the price of yours, it’s not going to be an easy sell.
If your company has a brand-new hot product, like CBD was two or three years ago, or Omega
3, 6, 9 oils were when they first came out years ago, you might be able to ride the wave for a couple of years and make a nice chunk of change before it goes mainstream.
Once the product is all over Amazon, the tide changes, and it’s probably time for you to change too.
Cryptocurrency and technology companies are the latest greatest trends in network marketing now.
I’m all in favor of catching a trend while it’s hot!
And there can be challenges with new trends.
Especially in the world of crypto, my advice would be to exercise caution. Don’t get my wrong, I’m all in favor of crypto. And just like any thing, don’t put in more money than you’re willing to lose.
Any network marketing company has to have a product they’re selling to meet FTC regulations. The product can be an educational product. Be sure the company you’re looking at has a product.
Two companies that I’m aware of were shut down in the last 6 months because they didn’t have a product.
I would be very cautious about joining a company that is going to pay you in their own crypto currency, not one of the mainstream cryptocurrencies. It might look great now because the company is new and growing quickly so their currency looks like its only going up and up. But the minute that growth starts to slow, or something else happens your income can go right down the drain.
Comp Plan & Company Owners and Leaders
My Personal Test
If you know me at all, you've probably heard me say over the last several months that I'm on a mission to find 3 to 5, what I call "set it & forget it" businesses.
I have two criteria for any business I'm going to join:
100% of people have to make money. PERIOD.
You have to be able to make money without recruiting and without selling anything.
If a business doesn't meet those two things...
Because I’m tired of seeing so many people spend so much money on autoship, keeping up with their monthly required business volume, company conventions, and everything else under the sun, and pouring way more money in than they ever get out.
I’m on a mission to help you make money, instead of lose it.
So far, I’ve found 3 opportunities that met my two criteria.
If you’d like to find out more, check out these 3 links:
- And https://gloriamacdonald.com/freedom
Celebrating Your Success!