So, maybe you’ve read a previous article about network marketing and the companies that utilize direct sales as their marketing and distribution platform. And, maybe (hopefully) you’ve taken the next step and reviewed Robert Kiyosaki’s video describing the type of person who will do best in network marketing. If not, you may want to do that now. Okay, now that we’re square on that, let’s get down to the nitty-gritty.
First, I’ve said it before, and I’ll say it again:
Not all network marketing companies are created equal, in my opinion.
Second, they span across a multitude of industries. As of today’s date, when I Google “network marketing companies”, there are 52,500,000 results! Yes, that’s 52 million.
Now, in all fairness, it is Google, so it’s also likely that not ALL 52+ million results are actual companies. Some of these results are likely network marketing haters and nay-sayers posting videos and articles bashing one company or another. Still, there are a lot! Agreed?
How do you even begin to find the right one for you??
Although I’m really going to hone in on the business-savvy and logical aspects of targeting the best network marketing companies, I also believe whole-heartedly that it’s vital to find one that’s aligned with you, your personality, and your passions. Why? Because it’s going to be difficult to do what you need to do if you’re dreading dumping yourself out of bed every morning and there’s nobody and nothing “there” to motivate you to do it – like a boss who you have to answer to if you’re late… again.
So, to begin with, I think it’s best to ask yourself what’s really important to you about a company you’re going to align yourself with. Truthfully, this should be a consideration and thought process that takes place whether it’s network marketing or a traditional employment situation. I mean, you can get just as burned out (if not moreso) at your j-o-b than working as an independent contractor in a network marketing situation. If you’re in alignment, that’s less likely to happen.
Where do you begin paring down 52 million results, though?
Well, for me, some important things were:
- transparency (in dealings, complaints, value, compensation, and so on)
- a fairly wide open market (leaving plenty of room for growth in all directions)
- stability (I think the stats are something like: 50% of all new companies – traditional or not – fail within the first five years and 50% of those remaining fail within the second five years)
- leadership (both of the company and my sponsor)
- consumable products (or at least those that I can see people paying a monthly subscription for)
When you start looking at these things, the list gets shortened pretty darn fast. Believe me, though, I’m in no way trying to say that even with all these things in place a publicly-traded company – with all it’s “transparency”, years of operations, seemingly stable leadership, in-demand and barely tapped market, and needs-based products that are consumable – can’t dupe the American population. They can and will – even with the government’s knowledge! History has shown us that. It’s no different than a traditional business, however – whether online or off – as we’ve witness by the dot-com bubble, real estate bubble, pending economic bubble, and the list goes on. We’re just hedging our bets here. Even with a traditional job, you can be hired this week and the business be insolvent in another one or two. (This actually happened to a friend of mine.)
So, to further narrow down the search… IF your list is similar to mine… It may be wise to check into DSA (Direst Sales Association) registration, listings, complaints, and standing status. See, the DSA only ranks about the top 200, I think, so you’ve now gone from 52 million to 200 with just this one criteria! (For instance, the company I chose to align with is within the top 10, I believe, and is the only one in that range for its industry – health and wellness.)
With this knowledge in hand, you should be able to wipe out the vast majority of even the DSA’s list of 200.
- Find something you feel passionate about and can “get behind”
- Check the DSA for stats, complaints, standings
- Look at company performance on the NYSE
Next, are there any documented endorsement or testimonials. Be sure you understand I said “documented”. How come? Because – especially with the use and ease of the internet – people can throw whatever they want up on a web site. Again, using my company as an example: Would you agree it’s pretty powerful to be able to tell people (customers and potential network marketers, alike) that the company’s products are endorsed by over 600 professional athletes – some of whom are Olympians?? I mean, those people are tested, right? And they have to be in optimum physical condition. Those things help in terms of customers wanting to do business with a company backed with that kind of confidence by people who use the very same products they’re considering using. Plus, those building a home-based business within the company get the confidence of knowing that that very same confidence exists outside of themselves, their sponsor, or even the company president.
Then, the biggie: earnings. As discussed in a previous article, network marketing is a place where you can make no money, some money, or an absolute abundance of money… depending on your own focus, efforts, growth, etc. The company’s statement of average earnings should be a great indicator if you’re serious about your business and know the income level you’re aiming for. (Some people just want a little more money at the end of their month, and some want six and seven-figure earnings and beyond.) Again, almost every company has at least a few who are or have been quite successful. As is said in the industry, though: “Those results are not typical.” I’m the kind of person who (although I’m tend to be very optimistic) will always evaluate for worst-case scenario, knowing that everything above that is “gravy”… a “bonus”, if you will. With that said, I look at a company’s average earning statements this way: If I can accept the lowest amount on the statement for average earnings, then I’m pretty good with everything above that. See, one of the companies I was a part of did have million-dollar earners… but the majority of people aligned with them made no money. None. Conversely, when I saw my current company was paying out an average part-time income of $25,000, that seemed reasonable to me. (I supported my son and myself on less than that a few times during my 16 years as a single parent!)
And lastly, let’s look at the leadership. This applies, in my opinion, to both the company and the sponsor. (No, I don’t believe your sponsor directly determines your level of success. One of the beauties of direct marketing is that your “boss” can be a total jerk, know less than you, etc., and you can still go on to earn more money than them! I do believe having a great sponsor as a leader can dramatically reduce your learning curve, though — and thus, speed at which you achieve success.) I’d suggest you really evaluate why the company was started, how it’s been developed, whether or not it’s aligned with your personal values (One of mine is philanthropy, so it was important for me to find a company that also “gives back” in proportion to its success.), and what their overall mission statement is.
Believe me, if you’re seriously considering a network marketing business for yourself and just spend a few hours on one day to go through these things on your own, I have no doubt you’ll find…
The absolute best network marketing company for you.
Your partner in success…