You're a Serious Entrepreneur and have decided that you want to generate extra income...and you're checking out the Network Marketing phenomenon that has taken the nation by storm. Like you, more and more people are looking at home-business opportunities, attempting to find a real mlm goldmine.
You could google the key words "work at home" and you will get 1.71 BILLION results! Researching all of those would literally take you months...or you could just read what I've learned after years of first-hand experience.
Tip #2: The Company
Network marketing companies are sprouting up all over the place, and there are just too many of them to keep up with. This makes the choice of which program to join a frustrating and time-consuming process. Yes, regrettably there are a few network marketing opportunities that are scams. Companies that sell the opportunity and don't have much of a product are teetering on the line between an MLM and a pyramid scheme.
Then, there are far more that may be well-intentioned but have a poor track record for any number of reasons. To separate the wheat from the chaff, ask yourself these questions:
1. How long has the company been in business?
Some network marketers choose to go with an established company that has been around a long time; but if it's more than 15 years old, you've probably missed most of its growth. Others may choose to go with a relatively new company with an established reputation. If you go with a new company, do as much background research as you can.
You must consider the reputation of the company you will be dealing with. Search the internet to see if the company has any lawsuits or outstanding complaints against it.
You want the efforts you put in today to pay off for many years in the future, so choose a company that has proven it will be around for the long term. 90% of all network marketing companies never see their 2nd anniversary. That's HUGE! You don't want to invest your precious time and resources (not to mention your future) in something that may not be in business next month, do you?
2. Is the company well capitalized?
In other words, does it have the cash that it will need to grow, to maintain a solid infrastructure, to attract talented management, to keep pace with technology? And, of course, to pay your commissions!
As a rule of thumb, do not get involved with any network marketing company that does not show responsible financial stewardship. Most people don't consider the financial status of the organization that they're thinking of joining before they join; they're too busy thinking about the money that they can earn for themselves using the organization's products and service and compensation plan.When thinking so microscopically, take a step back and consider how the overall company is doing fiscally. A few things to examine financially when looking at top network marketing companies:
Have you asked yourself why you want to enter the arena of direct sales? You should. Now ask the company you're considering the same question. What drives their passion? Is giving back to the community part of their vision?
Examine the management team to see if it has a solid mix of successful entrepreneurs who've been involved in managing successful traditional and network marketing companies.
Quite frankly, if they're not, your business is going to suffer dramatically.
The truth is, if you're a Serious Entrepreneur, you have to think about the network marketing organization as a whole before you ever think about signing on the dotted line.
If you're serious about learning how to break into the network marketing industry, go to to see a nearly flawless machine that takes advantage of Web 2.0 and will show you how I'm getting tons of free exposure for my business using all these new websites, or visit my blog the Serious Entrepreneur at blogspot.
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