If you’re new to the MLM industry or even if you’ve been around for a while but are thinking about making a change, it can be very challenging to make a choice between all the new MLM companies that are available to you. So how do you pick the one that’s right for you? There are some things you can do, some questions you can ask yourself to help you make a better decision.
New MLM Companies are Popping Up Everywhere. It’s no wonder you can hardly turn around without hearing about another one that’s in pre-launch. These new MLM’s get a lot of attention and often times they’re pretty hyped up and can grow like crazy in a very short period of time. The problem is that you don’t want to get caught up in the excitement of all that hype. You need to take some cautions and do your homework before you choose.
Here’s a list to help you sort it all out. Ask yourself these questions before you make your final decision:
1) Do the products or services have a strong demand in the market? In other words, do people want to buy the products and are they competitively priced. I’ll give you an example, in the health and wellness MLM industry, there are a lot of companies that have products that are little better than what you can buy in your local pharmacy, but they’re often much more expensive.
2) Do they offer a lucrative compensation plan? You especially want to look for one of the new MLM companies that pays well up front as well as having a strong residual income opportunity. That way you’re able to make money in the short term while building you long-term residual income on the back end.
3) Does this company have strong backing? Do they have the money necessary to fund a start up as massive as launching a new MLM? This information will be readily available on their website. If not, be very wary because they ones that have strong funding will tell you so right up front. The ones that don’t might be more vague. That’s a clue.
4) Do they have a proven plan of success? This is much trickier for a new MLM because they haven’t been around long enough to have any proven results. But you should ask the hard questions of whoever is asking you to join.
5) Does your potential sponsor have a duplication strategy? If the company doesn’t have a success plan in place, then your potential sponsor absolutely has to have a duplicatable strategy or you’re going to have a very tough time succeeding.
The bottom line is that new MLM companies can be risky because a lot of the new ones don’t make it past their first two years. Of course it’s totally up to which way you go but remember that new MLM companies come with greater risks than more established ones. It’s also very important to go with your gut feeling when choosing a network marketing company because there have also been well established companies that are not as good as they once were.
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