MLM Income Opportunity
Picking a good MLM income opportunity becomes easier when you review these 5 main things to think about as you make that important decision.
We Look at All Aspects of a Good MLM Income Opportunity
Network marketing, commonly called MLM (multi-level marketing), makes a great home-based business. However, there are things to be aware of… things that can make the difference between success and failure.
Speaking of failure, many of us have been in that boat a time or two. Personally, I have been on both sides of the situation. After struggling for a few years with one MLM income opportunity after another, the pieces finally fell into place for me. I use articles and mini-sites, such as this one, to pass along information that can help make the road to success a little less bumpy for other people.
5 Main Factors to Consider for Any MLM Income Opportunity
These things apply whether you just want some extra income or if you want the kind of income that allows you to leave the “9 to 5″ world.
1. The Company
The company behind the MLM income opportunity should be well established with a good track record. Look for a company that has survived in business for at least 3 years. One that has been around 5 years, or more, is even better.
Every company goes through a start-up period that can be touch-and-go for a while. Many MLM companies never make it past the two-year mark and some don’t even last six months. While there is no absolute guarantee about the future outlook for any network marketing company, you can certainly minimize the chance of them going out of business by picking one with a solid track record.
2. The Products
The products and/or services offered should be of high quality and sold at a reasonable price. There should be something unique about the main product/service that makes it appealing. Here’s an important question to ask yourself; “Is there a chance that I would buy this product or service even if it was not part of the MLM income opportunity?”
Too many network marketing companies try to sell inferior products at inflated prices and then wonder why they are not attracting more distributors and/or customers.
3. The Pay Plan
Since money is the reason most people get involved, the MLM income opportunity should have a pay plan that is fair and generous for everybody. The pay plan should reward the full-time business builders that create momentum and spillover.
The pay plan should also provide an income to the part-time people as incentive to remain active. After all, the majority of people in any MLM program are part-timers, and if they are not able to get some extra income, they will leave, and the program’s retention rate will be low.
It is easy to get excited about the pay potential, but you should understand how to make it happen. So, find out the answers to questions like these:
* How much product do I need to buy each month to remain active?
* What qualifications must be met in order to move up?
* How many members do I need in my downline to reach my income goal?
By the way, your pay (commissions and bonuses) should be based on the sales of products/services to your customers and/or to the distributors you sponsored into the program. If a company says it will pay you for simply bringing in others, the company might be operating illegally – look out! Avoid that type of thing because it is most likely a scheme, not a legitimate MLM program.
4. Training and Support
It is in the network marketing company’s own best interest to help the independent distributors do well. Therefore, a good company should provide tools and training that can help people promote the MLM income opportunity.
Unfortunately, some companies charge a hefty fee for the tools and training. Beware of companies that charge a lot for the same things that other programs make available for a low cost or no cost at all.
In many cases, the best help you will find is from a team of independent distributors. So, as you look for a good MLM income opportunity, also look for a team (one with a winning track record) that represents the MLM programs you are considering. Or, instead of a team, you could think about joining an experienced individual that is willing to be your coach/mentor.
5. The Market
We already mentioned products, and the market refers to how many people have access to the products and/or services as well as the network marketing program itself.
Some programs, and their products, are only available in the United States and maybe Canada.
When you find a program that you like… get answers to two important questions:
* How many countries have access to the program and the products?
* If the market reach is currently limited, are there plans for expansion in the near future?
One possible reason for limited availability is that some countries have tough regulations (customs and import restrictions). Getting approval to ship certain items into that country can be a lengthy process.
Usually, the more global reach that a program has, the better it is for you. After all, a wider reach means more potential distributors and customers.
Do a Reality Check BEFORE Picking Any MLM Income Opportunity
Picking a good MLM income opportunity is only one part of a successful venture. The other part is totally dependent on YOU!
Network marketing is a great way for the average person to attain a high income, and even to become wealthy. However, it is a business and should be treated as such. It is not like buying a Lotto ticket and hoping for the best.
You need to make it happen by following a basic plan and sticking with it until it pays off.
Even with the best MLM income opportunity, you should understand that the break-even point might be a couple of months away and a decent profit a few months after that.
When you do a self-assessment and honestly feel that you have a success mind-set and a willingness to persevere, you will have much better odds of success with whichever MLM income opportunity you pick!