Have you been approached to join a multi-level marketing (MLM) or network marketing opportunity?
Here are six things that a good business opportunity should give you to make participating worthwhile.
- Affordability – Are the packages or products on offer affordable? Many companies that start in developed countries have packages and products that are priced for the average dollar-based income. What many companies fail to understand is that $1000 is within reach of the dollar-based earner but is impossible for people living in developing countries. Often the product is great and has many advantages but to the average person, it makes no sense at all and will take a lot of selling to convince them.
- Ease of Access – How easy is it for people to join the business? Can people with slow internet connectivity access your website and when they do, are things easy to understand? What about the products, are they available in the country or will people have to smuggle them in?
- Make Money – Can you actually make money and how easy will it be to withdraw your earnings? If you are joining a product company, do you know people who will buy these products? Check if the people who are making money are just the people recruiting or can you actually participate without selling or recruiting? Recruiters often lie to people and tell you that you don’t need to sell or recruit, just so that they can earn commissions. It may take time before you sell or recruit, so what would the benefit be of joining? At what stage can you withdraw your earnings and how will you be paid? These questions need to be answered before you join.
- Binary Compensation Plan – Binary compensation plans are one of the finest ways of organisational structure in multi-level marketing. They usually consist of two legs of your business and these plans are designed so that you concentrate on the weakest leg of your business and you get paid on the performance of your weakest leg. Should your weaker leg become stronger, then you move to the opposite leg and your business continues to grow.
- Fair Distribution of Earnings – Human greed is the failure of most businesses, so before joining any opportunity you should make sure that there is a transparent and fair distribution of earnings. Any business that is not transparent about the way the money is earned is either a fake business, or they are taking too much for themselves. Another area of concern is when leaders are overcompensated for the work they do, much like in the corporate world. If you like corporate life you should stay there, but if you considering an MLM opportunity it should be because you have advantages that the corporate world does not provide.
- Residual Passive Income – If you thought that the promise of financial freedom was the biggest lie told by the MLM world you are wrong. The biggest lie told by MLM opportunities is that you can have a residual passive income. This means that you can go on a long extended holiday or retire and your business will continue to give you monthly returns. I have met many successful people who have made millions from multi-level marketing but they will always tell me that unless their team is active they do not earn anything. The reality is that if you have to consistently motivate your team to attend meetings and buy products, then you will never be free and you will need to be active to earn the income.
If you find a company that can suitably address these 6 points, then you will have a greater potential for success.