I think just about everyone taking the plunge into network marketing gets a little ‘glossy eyed’ when scanning the hundreds and even thousands of MLM companies. There are so many of these companies that are grouped with all the small business ideas from home, that it becomes extremely overwhelming. Which product is selling best? What company is growing the fastest? What kind of compensation schedule do they provide? The best step you have taken thus far is choosing the path within the MLM industry. Elliott Kosmicki, a stellar MLM industry leader, states “With so many of the fastest growing MLM companies pushing to have you join, it can get confusing when you’re looking at MLM products, compensation plans, where to get leads, marketing tips, and most of all – can I really make money with this? What you need to remember, is that the best MLM to join in your situation is going to come down to one thing – finding a product and a business you are excited about sharing.
People who wonder why network marketing doesn’t work have likely also never joined the best MLM for them at the time or had great upline support and a team around them to get through the often frustrating first few months. Opportunities abound – even publicly traded multi-level marketing companies, who you would think are these huge businesses that give you no attention, have small teams and wonderful leaders to join. It’s just a matter of finding the top teams in the company you’re looking at“. His synopsis on how to choose the best opportunity within the thousands of MLM companies will give you a pretty good perspective on how he picks the ‘needle in the haystack’.
If you have already done a little bit of homework, you probably have a good idea of what to expect in terms of the general business & sales philosophy. Multi level marketing has increasingly become more popular over the past 10 years for people that are looking for small business ideas from home. The idea that you can reach millions of people, instantly, on the internet creates a huge opportunity. But, this is an opportunity that must be planned & executed well. Thus, a MLM endeavor may become successful, but only if you do it the right way. With so many MLM companies selling similar products, with the same philosophy of recruiting additional sales people, how do you make sense of it all? If you’re about to jump into network marketing and are having difficulty finding the right MLM opportunity, the following tips will shed some new light on how you can achieve success with a new company even if you don’t have a lot of experience with choosing from the all the small business ideas from home.
While there are many business opportunities out there for MLM marketers, you need to take your time and find a company that’s going in the right direction. A lot of people are caught off guard and jump into a MLM opportunity that could or could not work for them. This is one of the reasons why people have a bad taste in their mouth about the MLM industry—they feel like they have been duped because they were misled by the overly excited, enthusiastic neighbor, friend or random guy at the travel party, gushing about the opportunities, how awesome the product is and where the company is headed. Don’t fall into this trap and roll into the risk of joining your neighbors scheme when you know he does not have much business experience. MLM companies are a dime a dozen, so you need to find one that’s focused on growing. Any of your small business ideas from home should follow this first, foundation rule. As a beginner, you need to narrow down the companies you want to join and push aside the newbies. What this means is you have to pick companies that have been in the game for a while, and more importantly, companies that are growth oriented. Businesses that have got a proven track record and are clear in their idea of progression from its inception to the future of the company. These companies also usually have teams that are earning millions in sales and are not shy to boast about it.
A tremendous resource in whittling down the MLM companies is MLM Legal. These guys do an outstanding job in evaluating ALL of the network marketing companies, from top to bottom. They leave no stone un-turned and are very objective in their evaluations. They primarily assist the actual companies in legal matters within the business, but their site is a gold mine of information on all the companies in the MLM industry. If network marketing is your first choice within the small business ideas from home, refer to these guys immediately.
While you’re evaluating the various opportunities, you may also want to take a look at those companies that haven’t hit that ceiling yet and are still in their “growing” phase. These companies will consistently stress training for all the employees and encourage new salespeople to join their existing team. MLM Companies like these usually offer great incentives along with training that gives you the knowledge needed to succeed.
Any company that succeeds in ANY industry must have an incredible product or service. It doesn’t matter if you are selling toilet paper or operating a restaurant—when’s the last time you saw a restaurant that is booked 6 nights out of the week have bad food? Okay, well there may be a few here and there, but generally, people don’t keep coming back if they don’t like your food. If you are still mulling over your various small business ideas from home, you need to evaluate the products and/or services they are promoting & selling. If it is something that doesn’t ‘wow you’ or at least something you cannot fully believe in, you need to remove this from your short list immediately. We all know there are tons of MLM companies selling similar products, but you need to evaluate why one company’s offerings are better than the others. The website www.businessforhome.org is a quick and easy resource to find what products are voted the best in the MLM industry. The site was established in 2007 by Ted Nuyten and has provided MLM news, facts & figures within the industry ever since.
As a fresh networking marketing you need to choose a company that already has an established list of well-known products in their inventory. While this is a bit difficult to find, it is not impossible, and is far better than going with a company that has just started up and does not have any products yet. If you have made it this far within your search and choice of small business ideas from home, you know that you are starting your own business—from scratch. Thus, partnering with an established company, where you will be selling products that are already on the market and which customers are familiar with is a huge advantage & benefit.
There are plenty of MLM companies in the industry that have been around for only a few years and have made a huge impact. Cosmetic companies such as Nerium and travel companies like WorldVentures have grown extremely fast, catapulting their selves to the top MLM opportunities within a very short time. Not only are these companies sky rocketing up the charts within the network marketing industry, but they are starting to gain steam within the Inc. 500. Almost every woman has used or continues to use skin care products, so that will always be a good product. Traveling is a huge product and/or service opportunity, because almost everyone loves to travel. When you see cool things like the WorldVentures ‘DreamTrips’, it’s pretty hard to NOT be attracted to that kind of lifestyle.
When you’re starting out in the MLM industry, you need to know if someone has your back when push comes to shove. I don’t care if you joined the best or the worst company, you will go through some hard times with any of the MLM companies you choose. That goes for any and all of the small business ideas from home as well. This is a business and it is your business—and sooner or later you are going to hit a road block or come across a storm. It’s all about weathering those storms, keeping your head up and continue to work hard. This is where getting MLM leaders who are willing to work with you can help. So, where can you find these leaders? To tie this point in with the first one, again, you will need to find a company that has been in the game for a while and/or has a great reputation with training their new people. Entrepreneur mentors and coaches are required to create a health and vibrant team. The top MLM firms recruit and train leaders who have the experience and skill that’s necessary to succeed. And more importantly, who are not afraid to work with other people and pass on their wealth of knowledge in the MLM industry. If you’re lucky at getting one, your leader will assist you in areas where you lack knowledge or skill. They will create an action plan that you can follow to improve your chances of success, while you make your way up the ladder.
Industry leaders such as Matt Morris, Ray Higdon, and Eric Worre all became successful because they had someone helping them when they started. Then they created and cultivated their team, helping everyone succeed below them. When the team succeeds, you succeed. The best leaders always check in with their crew on a regular basis to inquire of their development and progression and to inspire their members. Check out the Top 50 MLM Blogs to see & learn from the MLM leaders on a daily basis.
The Best MLM Leaders all have the same qualities:
It is important to identify the leaders in any of your small business ideas from home, but specifically find the leader in the MLM company and nestle up close to him or her. Learn from them and you will soon learn that it will be absolutely worth it in the long run. This leader will care more about you here is no better feeling than knowing that someone actually cares about your success, other than your family.
When you are selling a product, you need to know what you are selling. While you may be able to count the number of units that you have sold to measure your success, you will also need to maintain that track record. Having a great leader will enable you to know how you are doing on paper. The performance report that your leader provides you can then be used as a basic watermark with which you can analyze why you and your team were able to perform better, and why you failed to hit your targets on some months. This is also a great way to up the ante whenever you seem to be slouching in your sales. Even the highest paid people in all of the MLM companies always strive to be better at what they do, so why shouldn’t you? The same goes for any of the small business ideas from home you may be contemplating. Sarah Robbins is a superb MLM motivator and she is big believer in tracking progress.
She states “If you are serious about increasing your pace and seeing results, I want you to focus on tracking your daily activity for the next 90 days. This is what leads to the ultimate goal of higher titles, more volume, and bigger checks. You can’t control the title at the end of the month—but you can control your daily activity, which leads to the new recruits—which eventually leads to the title and volume goals. Here is what I want you to begin tracking, starting tomorrow:
1) Prospecting and Presenting: 3 way calls, live meetings, or 1-on-1s you conduct each day!
-3 is a good goal, 5 is a great goal, 10 is an excellent goal
2) Lifestyle Marketing and Passing Out Sample Packs
-Can you at least pass one sample, business card, or tool out per day when dropping the kids of at school, or when running an errand?
3) NO’s! –because the no’s get you closer to a yes. When you know your own personal set of odds you’ll have a better idea of what it takes to double your results, and accelerate your pace. This also helps track results with your sponsor and to share what it truly takes with your team.”
When you are reviewing all the MLM companies, deciding on which one to join, another crucial area to focus on is what marketing system they use. The best thing about the MLM industry above all the other small business ideas from home, is that this is your own, personal franchise. You’re not re-inventing the wheel, here. You’re taking a proven system and duplicating the same game plan in order for you to achieve success.
When going through your ‘pros and cons’, ask yourself if this MLM company is using a marketing system that has been proven to be successful or are they using systems that could possibly leave you floating in the boat. Point is, you need to know what you are getting yourself into which is why a marketing system is so important. While you might have your own resources that you bring to the table to improve sales, you will also need your new MLM company to be straight forward and share their own marketing system with you for improved success. You would be surprised of all the MLM companies that do not have a blue print for success. Any of the small business ideas from home should have the same checklist and vetting system—confirm that there is a proven system in place.
This can also save a lot of effort at your end. Why waste your time trying to figure you a marketing plan for yourself when you can join a MLM company that is already well established and has a proven marketing program that is being followed and is successful.
While the number of sales that are hit cannot be guaranteed or estimated, having a well established company and a leader on your side can assist you in the training and development of your own team and also help you when it comes to ideas on closing the sale.
Go Cutting Edge
No matter what you do, or what business you have, technology plays a central role when it comes to the success of any business, and these MLM companies are no exception. Technology is essential and the foundation of all your small business ideas from home.
When you are selling products you will need to use technology to your advantage. Whether you’re demonstrating a product or marketing your wares at a convention, it’s good to know that you have the technology that is needed to make a lasting impression on the client.
The technology and resources you use may be in the form of audio or video presentations, or consist of documents or material that is available online. You may be using a single resource or prefer grouping them together, no matter what your strategy is, including the latest tools and resources in your arsenal will without a doubt lead to success.
We all have smart phones, use laptops and tablets, so put those to use and make them work for your advantage. A few things we can do from our couch:
Referral Programs Work!
A lot of MLM companies will push for this. Heck a lot of the small business ideas from home use a referral program. When it comes to referral programs, some people are still on the fence. But, you don’t have to be. A referral program can be set in a variety of ways, but it needs to offer a reward. The referral award you choose should be a well thought of strategy which will lead much needed credibility to your own business. Having a dynamic referral program means your customers will be excited that they have got the opportunity to earn a reward. This can be in the form of a product discount or a t-shirt, whatever it is, it will help encourage potential or future customers.
As you can see, there is a lot of research that goes into choosing from the multitude of MLM companies. Like any of your small business ideas, you need to choose the opportunity that best fits your personality, as well as giving you the best opportunity to succeed. This is your own home based business and it will be difficult to get up and running. Once you have your plan in motion and your entrepreneur coach assisting you along the way, it should become second nature. Knowing and living the process will allow you to achieve milestones along the long journey towards a residual income and financial freedom.