If you are seriously considering forking over your precious cash to start a new social marketing business you need to make an effort to comprehensively research the different options available to ascertain, for yourself, what is the best MLM business opportunity for you and your future team.
Because not all internet marketing or direct selling businesses are created equal, and spending the time up-front, before you begin, to do your research, can pay of enormously later. So, here are a couple of things you must consider prior to making your ultimate decision:
-How long has the organization been in business?
-Are they privately held, or traded publicly?
-Who is the managing team, and what real world experience to they have in operating and growing a Global business?
-Where are they open for business, and can the products or services instantly be shipped into different states without custom issues?
These are all vital questions because most new, ground-floor start-up organizations fail inside of 5 years. Not just some, but most. So, while it may sound like getting in on the ground floor is an advantage, in many cases, it should be a big danger sign because the likelihood of this new start up company surviving is extremely slim, and your best likelihood of success is to join a time-tested MLM business opportunity with a real record which has been in business, on a steady expansion curve, for no less than 3 to five years.
One other thing to consider is the price-point of the product and services. Ask yourself this, “Would the average individual buy this product from this company at this price, under normal market conditions, if an MLM business opportunity was not attached to it?” If you cannot honestly answer, “Yes” then you shouldn’t join this company.
The reason is based on economics. Understand that the majority of people who start in MLM will sponsor and bring in less than three individuals throughout their whole business career. Put simply, the majority of people never do what is required to succeed in their new business. So, if these folks are required to make a once a month acquisition of a service or product they would not typically buy at that price… They most likely cancel their membership and quit. This is why the once a year attrition rate, the drop out rate, in several network marketing corporations is usually in the 70 to 80% range. And any attrition rate higher than twenty p.c. yearly will make building a money-making business quickly; exceedingly challenging.
So then, the best MLM business opportunity is one that’s got a good product that individuals already use at a price similar to what they are already spending. If they are used to paying $35 for supplements they already use, and are now asked to pay $75… if they do not build the business they most likely will quickly quit, and go back to paying $35 per bottle.
The next thing you need to seriously consider before starting any new business is how, exactly, you plan to advertise, market, and pitch your new business. Because the bottom line is this: you won’t make any money unless you sell lots of products, and sign up a lot of new team members. So what’s your plan? Because even the best MLM business opportunity out there will not make you a dime unless, and till, you efficiently and effectively market and promote that business.