This blog post will reveal to you some key insights on the things you should take into account if you are wondering how to start a network marketing company.
First let me make the distinction that this post is about how you can start your home business in this industry of network marketing (or MLM) by becoming a representative of one already established, which is what the majority of people do.
This is of course what I recommend you do, unless you already have a lot of money to develop, invest and produce products to run a business, in which case it is HIGHLY unlikely you are reading this post.
If you looking to work from home, earn cash and build a residual income, get up and running super quickly, and eventually have control over your time, then this for you.
How To Start A Network Marketing Company…
First action step when it comes to how to start a network marketing company is to determine what companies are out there that have a solid and strong leadership team, especially the owners.
You are looking for a company that:
- Have leaders that care about the people;
- Handsomely Reward You For Your Efforts;
- Intend to stay in this game long term; and
- Have a product which is unique and has a market.
You can start by doing a google search on list of mlm companies or you can visit sites like MLMRankings, among others.
Choose a list of say 3 companies that grab you because their vision or products are in ALIGNMENT with your purpose. This is important because it will increase your synergy, longevity, focus and the results you achieve.
Let’s dig in a bit further…
How To Start A Network Marketing Company: Criteria
When choosing a company to align yourself with, it is important to highly consider the following criteria, otherwise you could be taking a HUGE GAMBLE in your new venture. This is important because when you start promoting a company, then your reptutation is now linked to that company.
You have to protect your reputation no matter what happens, it is probably the most important thing you can do.
So how to start a network marketing company 101:
- Check the BBB and the owners, I have more detailed training on this topic at this post, I have a video about it : Is Numis A Scam?
- How long has the company been around?
- What is the condition of the companies finances? Are they debt free?
- Are their products or services unique and have a long term sustainability in the market?
- Read the company’s compliance requirements. Can you sell it? Can you will your business? Can you transfer your downline with you? Etc…
How To Start A Network Marketing Company: Compensation
In addition to the information that I shared above on how to start a network marketing company, it is important for you to understand how you make money and get paid in your network marketing business.
Here is a small list of question that should get you started:
- What are your expenses?
- How many members in your organization do you need to break even each month?
- How much product needs to be move through your organization to make the income goal you have set for yourself?
- How much money do you make from residual customer sales?
- Is your money earned from recruiting people or from product sales? (The answer should be from product sales otherwise you are in an non-legitimate business)
How To Start A Network Marketing Company: Leader and team
When addressing the question on how to start a network marketing company, make sure you take what I have already shared so far into account. Repeat the processes above until you have a small list of possible companies you would like to align yourself with, maybe even narrow it down to one.
Now, what I am about to share with you is extremely important for your success so you want to make sure you pay close attention to this. When you choose a company, it is does not mean you are going to make money. In fact you may lose your money.
You want to find the right leader and team to partner up with inside this company. This one key step here can mean the difference between your success or failure. But also keep in mind that any success that you achieve is of your own, and only your own, action, commitment and work ethic. No one and nothing can do that for you.
So where do you find the leaders?
This is a very good question. Do a search for home based business forum on the internet. One really good and widely known forum is the Better Networker.
Sign up for an account, go ahead and interact with the people there. A lot of great leaders hang out in these forums. Ask questions, investigate people, check them out and maybe even put a forum post about the subject.
When you identify a leader or a good team, you want to get in contact with them in person or over the phone. This is very important as you want to get a feel of the people who will be helping you achieve your financial goals.
Sometimes also, you cannot find some of the information that I shared with you unless you speak with a representative of that company. Make sure you ask them all the questions that you have and are satisfied with their answers.
Once you do that, DO NOT delay in reaching a decision, because this could be critical to your success. As soon as you are satisfied jump on board my friend, take a chance, and believe in yourself, because if you do, amazing things can happen.
How To Start A Network Marketing Company: A word of warning
When answering the question how to start a network marketing company, here is a word of warning:
- Don’t join new companies in their first two years unless you are an experienced networked and have very specific reasons to do so;
- Stay away from pre-launches, they are hyped up;
- Companies that focus on recruitment than product sales;
- Companies that are not willable;
- Companies that do not allow you to retire, as in still pay you your residual when you stop promoting;
- Sponsors who try and force you into signing now WITHOUT allowing you to do your research; and
- Promise of income with no or little work.
Anyways, I believe this is a more comprehensive post that should give you a very solid foundation when it takes to knowing how to start a network marketing company. Remember it is your decision, your time, your money and your effort.
Also keep in mind that companies and products are just that, in the end nothing will make you successful except your own actions and desire!Did you find this blog post valuable? If so, I would appreciate if you leave a comment below and share on Facebook.
To Your Success,
Work With Me - Nerium International
PS: If you are struggling to get more leads, generate more cash and sign up more reps into your network marketing business, then I highly suggest you check this out.