In the old days many people picked a network marketing opportunity based on a referral from a relative or friend. This is part of the reason why so many people failed.
Today the Internet is helping improve the success rate. Let's take a look at what you should focus on when choosing a network marketing opportunity to get involved with.
1. Will you use the product even if you are not a distributor? I think this is probably the most important thing for people to consider.
If you are a large Internet marketer the product becomes less important because you already have a huge email list and a website with traffic. Many people who join a network marketing business do not have these two things.
If you choose to join in MLM business based on the product you personally use you will stick with it even when you are not making money. Not only that, but so will a greater percentage of your downline.
This means do you do not have to enroll as many new distributors to replace the ones that are quitting. When you promote a product you like you will do a better job of selling it and get that point across to new prospects as well.
2. Can you buy the same product at Wal-Mart for 30%-50% less? You reach a time where it is difficult to convince people about the quality of your product if it is grossly over priced.
Certainly your product is a high-quality one or you wouldn't be using. But if your prospects, or even people in your downline, can go to Wal-Mart and buy a similar product for less some of them will.
People who are not making money in their business generally quit using the product based on price and believability in it. Plus many people shop at Wal-Mart and it's just more convenient to pick it up than it is to wait on it to be shipped.
3. Does the compensation plan have fast pay retail bonuses and the ability to create reason to link them? I see it all the time where a person drops out of network marketing because they're not making money quick enough.
It is very exciting to receive even a small check right away and that's what your network marketing company should provide you. More people will retail products when they know they are going to get paid the following week. This is good for their cash flow and their excitement level.
Of course residual income is what many network marketers want. If you have a pay plan paying you in the future for work you are doing now you can create an excellent residual income. This makes it more likely you will choose that specific network marketing opportunity over another one.
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