In part 1 of MLM Due Diligence, we set the criteria for assessing a company from the outside. If a company fails on any of those tests, it’s best to leave it and move on. Now we really get into the meat and potatoes…
First of all, why is it so important to pick a good company to build with?
Simple. The reason why Warren Buffett is so wealthy is because he is very, very careful with his investment decisions.
Only when he is absolutely confident that a company will continue to grow and be profitable long into the future, will he put his money into it.
I heard that of the thousands of potential investments he studies every year, he is happy to make just ONE good investment decision. That’s just amazing! [click to continue…]
If you want to build a solid network marketing business that will pay you a lifetime of income and that you can pass on to the next generation, you must choose a good network marketing company.
In my opinion, the company you choose to build with will account for as much as 40% of your long term success. The other 60% comes from YOU.
There are big, brash leaders in network marketing who will tell you that your success is all up to you. It’s all your fault if you’re not successful. “If it is to be, it is up to me!”
That’s a half-truth.
Sure, you can become the most highly developed individual, have a super positive mental attitude, have a magnetic personality and still end up in an illegal pyramid scheme that gets shut down by the Federal Government, and gets you sent to jail.
The company you choose WILL have a major bearing on your long term success. You must choose wisely. [click to continue…]
I was really good at goal setting in my early days of network marketing. Being young and naive, they were mighty impressive and awe inspiring. Boy, was I fired up!
Well, I quickly learned that setting goals was easy, achieving them was quite a bit harder. The expectations were great and so were the disappointments.
I’m not knocking goal setting here. I still have my goals. Goals are important, but I’ve learned to not be so emotionally attached to them. Instead I focus on the day-to-day process. There are no unrealistic goals, only unrealistic time frames.
So having said that, the first goal for any new network marketer, before setting any lofty goals, should be to break even on their monthly business expenses! (i.e. autoship, advertising, etc.)
Why? [click to continue…]
The term “Best MLM Company” is searched in Google about 4,400 times per month globally, which indicates there are about that many people all over the world looking for information, opinions and reviews on just which one of the many thousands of MLM companies in world is the best.
I’d guess that significant portion of these people are looking for an opportunity to join. Perhaps they are brand new to the network marketing industry and are looking for the best possible chance of success. Or perhaps they have come to the realisation that their current company isn’t going to take them where they want to go.
But here are the 2 major problems with trying to find the needle in they haystack, the holy grail… 1) it can’t make you successful and 2) just how do you define the best MLM company? [click to continue…]
What does it mean when a company does away with its play plan? It’s an absolute kick in the guts to the hard working reps who built the company from the ground up. All that hard work inviting people, talking to them on the phone, meeting people in cafes, restaurants and homes, doing presentations, the “no shows”, follow ups and coaching calls all of a sudden means nothing – a complete waste!
That’s what happened to the distributors of XELR8, makers of the Bazi nutrition beverage. Their company, a publicly traded company, just did away with their compensation plan. The three top distributors who had all reached the 250K Diamond level literally lost their livelihood over night and now they have to rebuild it all over again.
On January 19 2010, the chairman of XELR8, sent a letter all distributors telling them they are getting rid of their Multi-Level Marketing pay plan by the end of February 2010. Replacing the MLM compensation plan is a direct sales model where distributors earn a commission only from the retail sales of the product. [click to continue…]
A network marketing company is your vehicle to financial independence – the thing that takes you from where you are now, to where you want to be. Even if you are a good driver, you need to have a safe, reliable and efficient vehicle to get you to your destination.
So how do you know if your vehicle is capable of taking you to where you want to go? How do you know that you have the right vehicle? And what do you do when you find out that you’re in the wrong vehicle?
That’s where the 5 pillars can help you to assess whether the MLM company you’re representing is the right vehicle for you. The 5 Pillars are what you need to be successful in a company in the long term. [click to continue…]
