How to Choose an MLM
How to Choose an MLM
I don’t just want to talk about a business opportunity but, I want to educate as well. Three factors that should affect your decision in choosing an MLM are length of time in existence, market saturation, and market penetration.
I’ll start with the easy one first. How old is your network marketing company? Most network marketing companies are in business for less than 3 years. If your choice is to make residual income, I personally would look for a company that has been in business for at least 5 years. This just shows that the business has sustainability. Look at the revenues for the company. Does it show that the company is growing or shrinking? Look at the products. Are additional products being added or is the company stagnant? Have the products proven to be useful? Do the products do what they promise to do? Five years will give you the facts and statistics that you need to make a good decision. Check out this company which has sustainability and results to back up its claims.
Secondly, is the market saturated? If you are still trying to sell rotary phones in a digital age, your market might be saturated. Not many people are looking to buy a rotary phone except as a novelty item. Although come to think of it, I was talking with a lady and she says her sister still prefers a rotary phone. Well never say never there may be a comeback. :-) If the market is saturated, it will show up in your sales volume. Are your sales still rising or have they leveled off? One company I know of has new people coming in and reaching the upper ranks of the group in less than 6 months. I know that these results are not typical, but it is being done.
Third, how does market penetration look? Some markets are more difficult to get into than others. I’m told that the retail food industry is difficult to get into. I’m also told that the weight loss industry is a 16-billion-dollar industry. One company has done 100 million dollars in the last three years and are expecting to have a billion dollars in business volume over the next 10 years. This company has barely penetrated the surface. There is so much room for advancement.
When I look to join a multi-level marketing company, these are just three of the things that I look for. There are others but, these are my top three.
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