MLM, Multi-Level Marketing, or Network Marketing is an amazing industry, yet it is one of the most misunderstood and misrepresented industries.
So, you’re looking for top MLM companies. Why?
Are you looking for a good company to join? Unfortunately, looking for the top MLM companies may not be the best way to decide what company you should join.
First, let’s talk about Network Marketing. What’s it all about?
The concept is simple. A company has a product or service they wish to sell, but instead of setting up retail stores around the city/country/world, they have consultants or distributors market and sell their products or services.
This way, they don’t have to pay for retail space and other expenses including utilities, insurance, employees, etc. They also don’t have to pay out the marketing expenses to gather customers for their products.
This is where the network marketer comes in. We, as network marketers are responsible for producing our own leads and prospects for whatever product or service we are selling. We are then compensated by the company with money they would have otherwise spent on office space, employees, advertising, etc.
We find prospects through means of effective marketing strategies and then turn them into customers. Many times, these customers decide to become distributors because it seems like a great opportunity.
Here’s the problem. It is a great opportunity, but being successful at network marketing has little to do with joining the top MLM company.
Being successful at network marketing is about taking ownership and responsibility over your own business. Taking that responsibility is important because after all, you are starting your own business when you join a network marketing company.
Is It A Bad Idea To Look For Top MLM Companies?
No. I’m not saying it’s a bad idea. I’m simply saying that there are many other things to think about when making a decision to get started in this industry.
For example:
Are you passionate about the product line? This isn’t a retail job where you just sell what you are told to sell. If you aren’t passionate about the product, people are going to see right through it (and you). Hint: You want a product that you care about and believe in. Something you’d be able (and want) to sell, even if it wasn’t attached to a business opportunity.
Does the company provide you with the proper leadership, tools and training? This may be the first time you have started your own business. You want to be sure that you will be provided with the necessary tools to be successful. Hint: This is as much for you as it is for your future team members. If the training isn’t already in place, the responsibility for teaching your new members how their business works will be your responsibility.
How are the orders processed? Are you going to be responsible for any overhead or monthly costs? Will you have to take the orders or will they go directly through the company? Hint: You want as much of this to be automated and handled by your company for you as possible!
How will you be compensated? Will you be paid for your efforts directly or will you only make money once you have thousands of distributors beneath you. This can be a big one and is one of the reasons that we are involved in the company we are in. Hint: sometimes making one or two high ticket sales can be easier, and more profitable than making hundreds of smaller sales.
Who will your sponsor be? In all network marketing companies, you sign up under another distributor who becomes your sponsor. Make sure that you find a good sponsor. Someone who is invested in this industry and in your success. Hint: You want to join someone who will be there to help you with questions, and share their experiences and successes.
Ultimately, your success will be up to you, but having a good sponsor and mentor to guide you can eliminate months or even years off of your learning curve.
What are the leaders of the company like? Do they represent nothing but integrity and high morals or do you even know anything about them? Are they just pictures on the company websites or are they invested in the success of their business? Hint: You want to be a part of a company that’s headed by the kind of people you’d want to have as close friends – people you can trust, respect, and even look up to.
So, you see, being a “top MLM company” isn’t the end-all be-all to making your decision – remember, just because a company is at the top, doesn’t necessarily mean they are anything more than a passing fad.
These are just a few things to think about when it’s time to make this important decision. Remember though, you are starting your own business so there is going to be work involved.
However, if you are willing to work as hard on your business and yourself as you do on your day job, that day job will soon be just a memory!
Good luck with your decision and welcome to a wonderful community of entrepreneurs!
