Becoming a successful distributor in a network marketing company and enjoying a freedom lifestyle doesn’t come easy. It takes hard work, dedication, and nailing the critical success factor: finding the right company.
Through my 48 years of industry experience, I’ve found success by asking the right questions. If you’re considering joining a network marketing company, here are some insights that will help you form a foundation for success in network marketing.
1. Have Clear Goals
You’ll want to start by asking yourself a few questions:
- Why are you considering becoming a network marketer?
- What are your intentions?
- What do you expect to achieve from the time and energy you are willing to put forth?
- Are you looking for extra household income, OR an opportunity that can replace your job income within 3-5 years?
- Is early retirement your goal?
- Are you looking for more time and freedom to live your life?
Take time to reflect on your answers. Your answers to these questions will help direct your future actions.
2. Understand that the First Company You Join, May Not Be the Last
The core strength of the network marketing business model is that customer bases and distributor organizations are built upon personal relationships.
The majority of new entrants into our industry come from a family member, trusted friend or business associate. They ask you to join their new found path to riches or purchase their company’s product.
Their company may not be the best choice. That’s why you need to dig deeper and research the company before you join.
3. Thoroughly Evaluate the Company
To succeed in network marketing, you have to make smart business decisions.
There are hundreds of network marketing companies. And they’re not all created equal. Looking for the right company can be a daunting task. And falling in love with the product is NOT enough to find long-term success.
You need to conduct thorough research of the company and learn their:
- Operating history
- Financial strength
- Corporate management
- Compensation plan
- Field leadership
You have to ask the right questions to get the answers you need BEFORE jumping in with both feet. It also helps to have a sponsor with previous success in network marketing.
The lure of fast easy money clouds good judgment. Watch out for companies that have NO legitimate consumer market for their product or service. The regulatory agencies consider them ‘money games.’
These companies rarely last. They’re eventually exposed if the majority of their sales come solely from distributor enrollments.
When you’re reviewing a network marketing company ask yourself, “Would I purchase and reorder the products strictly as a consumer, if there were no income opportunity involved?”
If your answer is, “No,” than you need to look elsewhere.
5. Be Cautious of Marketing Hype
Start-up companies can generate a lot of ‘ground floor’ marketing hype. Be cautious.
Historically, only 1 out of 100 are still in business after three years. These odds are not in your favour.
You could end up damaging your reputation. That’s just not worth it. Your reputation is key to attracting others if you find yourself changing companies in the future.
It can’t be overemphasized how important it is to look closely before you leap!
6. Seize the Opportunity
Finding the right company ensures a positive FIRST experience in network marketing.
If your first network marketing company matches your objectives, and satisfies your thoughtful inquiries, then seize the opportunity. You’ll be on your way to finding success in network marketing from the get go.
Once you’ve found the right company, there’s no reason to keep switching companies and starting over again.
You’ll embrace the industry, and develop the necessary professional network marketing skills and the vital mindset for success.
When you’re open and coachable, you too can be one of the millions of success stories and positive experiences that happen every day in this $180 billion dollar a year industry.
I’ve served in every capacity of the network marketing business model in my 48 years of experience. I’ve learned that the critical success factor in network marketing is finding the right company.
It begins with being clear with your objectives, asking smart questions, and avoiding the flashy talk. Evaluate the opportunity using sound business principles, then seize the opportunity, and work hard.
Once you find the right company and work hard, then you’ll reap the rewards of lifelong residual income that network marketing can deliver.
Now that you know what it takes to find success in network marketing, learn how timing can have a huge impact on achieving your objectives.