The Five Pillars For a Successful MLM Home-Based or Network Marketing Business
When evaluating a network marketing company, one must take into account 5 crucial criteria. Without these five “pillars,” your success will be temporary through no fault of your own.
Experience and integrity
Does the network marketing company’s management have rock-solid experience backed with unquestionable integrity? I would make it a priority to Google the names of the company leadership and your sponsor to make sure that there are no “skeletons” in their closets.
Also, make sure the leadership includes people experienced in network marketing. Without the right kind of experience, management has a tendency to make dumb decisions that affect your income and future.
No emphasis on “timing”
You have heard the saying that “timing is everything.” This is true in network marketing, but not in the way you think.
Be wary of capture pages stating that now is the time. Watch out for terms like “pre-launch,” “just launched,” and “ground floor opportunity.” That ground floor opportunity, most likely, has an elevator that only goes down! Take my advice; run like a jackrabbit when you see those words or phrases in advertising. The majority of these businesses will fail within the first two years. I have been involved with these types of “opportunities” and they are gone today. A very few of them may make it, but wait a couple of years to see if they are still around. If they are, there will still be plenty of opportunity to make money with them. Don’t waste your money on unproven business opportunities.
Look for remarkable products people will buy even if a compensation plan is not attached to them. If you are trying to promote anything that people will stop buying or using without a compensation plan involved, you will fail in the long run. Find a product or products that are life changing. Get people to try them and your business will grow, even if they do not become affiliates. With this model you can build royalty income from customers as well as affiliates.
A comp plan that rewards everyone
Seek a compensation plan that rewards the part-time distributors as well as the top builders. Studies show that 96% of your team will be made of part-time people. Many compensation plans are not designed for the little guy just starting out or working the business part time. Most companies do not streamline their businesses and have huge overhead that ends up coming out of the affiliates’ pockets. Look for a streamlined company with the least amount of overhead possible.
A duplicable system
Look for a network marketing company with a proven duplicable system that allows part-time and full-time people to create residual income. If the system is not duplicable, your chances of success are greatly reduced. Duplication is paramount and it has to be proven so that anyone who plugs in can do it.
There are lots of claims, glitzy websites, promises of astronomical wealth on the internet these days, but very few can deliver. Use this guide to qualify each company you look at to see if it is truly a 5-pillar company.
For more information and a free audio recording about the 5-pillars just go to my blog and email me with “MLM 5-pillars” in the subject line.
you may also like
We at MLM.com had the wonderful opportunity to meet with Alan in January of 2021. He provided…
Terrel Transtrum has joined us for this episode of the MLM.com podcast. He brings his 30+ years…
For this episode of the MLM.com Podcast, Paul Adams joins us for an in-depth discussion on simplifying…
Get our e-mail newsletter, with MLM.com articles & online exclusives, delivered to your inbox each week.