Today we are going to talk about how to find the best network marketing business opportunities and take a dive into what makes them so great. So if you are looking for a new opportunity take notes as you will want to look into all of these things before you make a commitment to any company.
In my experience there are certain criteria that I believe a company must possess in order to be considered a great opportunity. Not all companies and opportunities are equal. Some have certain things going for them that simply make them a better opportunity for you.
Today I am going to give you 5 criteria that a network marketing business must possess to be considered one of the best opportunities in my books.
Criteria # 1 – How Old is the Business?
We have all heard the story of Goldilocks and the 3 beers.
You know the one where the little girl aka goldilocks busts into the cottage where poppa, momma and baby bear live. Lucky for her the bears are out doing whatever it is that bears do when they are out.
However they did happen to leave their porridge sitting on the table. I don’t know why they did that, I guess it’s a bear thing. Well ol’Goldie makes herself right at home, sits on down and proceeds to have a taste of poppa bears porridge and finds it is too hot; she then decides to tear into momma bear’s porridge and much to her chagrin finds it too cold; but lucky for her when she takes a bite of baby bears porridge it is just right, meaning somewhere in the middle.
Now being a betting man I would take the wager that in the history of the network marketing Industry this is the first time Goldilocks and the 3 Bears has ever been used to describe it. Hey it’s what I do.
However there is a point to bringing you back to your childhood with this story. You see Network Marketing businesses are kinda the same as the porridge….
In the Middle is What You Want
Companies can either be too old or too young and what you want is to find one somewhere in the middle.
If a company is too young you run the risk of it going out of business. Plus there is the added problem of having to deal with a startup and all of its ups and downs as it tries to figure out its model and how they will do things.
With most of these newer companies they do not have the systems in place or at least not perfected and as a distributor you become a test subject, and used as part of the process to iron out the wrinkles.
I have been part of a new company and there are pluses and negatives with it, but overall I do not consider a new company as one of the better network marketing opportunities to get involved with. Just too risky and too many factors to deal with.
Now the problem with an old business that has been around for eternity is the market is saturated.
I’m not going to name any names, but take a minute and think about the old dawgs in this industry. The companies that have been around a long time. Everyone and their Grandmother has heard of them.
This makes trying to prospect people very challenging. When you approach a prospect they will say “Oh I’ve heard of that, ol’Uncle Bert tried it and lost money at it, no thanks”.
Now I will admit that if you are building the business correctly people are not joining the opportunity because of the company but rather because of you. But the old dawg factor still plays a part in their minds when they are considering whether it is for them or not.
Not Too Old & Not Too Young
In my books the best network marketing opportunities fall somewhere in the middle, not too old and not too young.
Old enough that they have proven themselves and the risk of going out of business has minimized. Old enough that the kinds have been worked out. They know what they are doing and more importantly distributors have paved the way for you and have implemented the tools and systems you will use to build your organization.
But not too old that the market is saturated. Not too old that everyone and their grandmother has heard of them.
Now I am NOT saying that you cannot have success in a new or old company, you can and people do.
What I am saying is that this is one of my criteria for gauging an opportunity! In the end you need to decide if this is one of your criteria.
Criteria # 2 – Management & Leaders
Another important factor is who is running the show. Who is the owner, who is on the management team and what network marketing leaders are prominent.
The owner and management is important. What is their track record? Have they screwed distributors over in the past or are they known for treating their distributors well. Did the last company they manage do well or did it go out of business.
Have they been in trouble with regulatory boards in the past or has everything been on the up and up.
Is this their first time in the industry or do they have a proven track record of managing companies in our industry.
These are all important things to look into when you are researching which business you are going to join.
Leadership is also very important.
Who is at the top of the leader boards? Who are the top distributors?
In network marketing top distributors hold a ton of power in most companies. They have a big say in how the business will be run to include its policies and procedures.
Do they embrace the new way of building a network marketing business using the internet and social media or are they the staunch old school offline belly to belly networkers?
Find out and know in advance if how they run things you will be comfortable with.
Criteria # 3 – Their Financial Situation
What do their finances look like?
Are they profitable or enroute to becoming profitable.
Are they trending up or are they in bad shape financially?
Who is backing them, where is their money coming from.
Do they have shareholders or owned by one person.
I don’t spend a whole lot of time researching this, but I do take the time to make sure their financial situation and track record is good.
Criteria #4 – The Product
Now I am not a huge product person, I have always been more of an opportunity guy.
I have always led with the business opportunity verses the product. However the product is clearly a very important factor when evaluating a network marketing business.
I strongly believe that you need to find an opportunity that has a product or products that first and foremost you like and can see yourself using and promoting.
But even more importantly it needs to be a product that people would use AND buy from this company even if there was not a business opportunity associated with it.
This is crucial to your success. This is because when you are building a network marketing business and want true residual income you need people to continue to use the products for a very long time. Aka life time customers.
The reality is that most people who join an opportunity are not going to do what is required to become a big success. They are going to share the business with a few people and hopefully get a few to join, and a few customers but then life will get in the way and they will stop building the business.
When this happens your product needs to keep them hooked as customers. You want them to still order and use the products for a very long time. I cannot stress how important this is.
If someone joins your business opportunity and stops ordering the products when they quit building the business it is going to be a constant struggle to build residual income.
You need to have people continue to use the product whether or not they are building the business! This does not happen with the majority of network marketing companies.
Criteria #5 – How Do They Build the Business?
I kind of alluded to this above.
And this does have more to do with the team or person (leader) you are joining, but it is also important to check the company’s policies and procedures to see what they will allow you to do and what they will not allow.
The big thing is to make sure they allow their distributors use the internet to build their businesses.
Surprisingly even in this day and age there are many companies that will not. They are stuck in the Stone Age.
Do not think you can join a company who does not allow internet & social media marketing and that you will just go ahead and do it anyway. It is not worth it. Companies can shut you down and take all of your distributors away from you and there is nothing you can do about that.
That is one of the reasons why I believe you should be using Attraction Marketing as one of the methods you use to build your business. You can learn about Attraction Marketing here.
My advice is find a company and team that not only allows but embraces using the internet to build.
The fact is that in order to be successful in network marketing you have to develop the skill set of prospecting and now a days the best place to focus your efforts is on the internet and social media.
Combined they are a game changer and make building a business much easier than doing it all offline.
What to Do When You Find a Perfect Fit
Once you have located the perfect opportunity for you it is time to get to work building it.
The following posts will get you up and running and successful fast:
Go Find a Home
There you have it, my 5 criteria. I trust you found them helpful and now have a better idea of how to find the Best Network Marketing Business Opportunities.
There are a ton of great companies and opportunities out there. Finding a good fit for you should not take long.
My last piece of advice is don’t spend years looking for one, instead find one you are comfortable with taking what you just learned into consideration and then jump in, go to work and start making things happen!
If I can help you with any questions you have drop a comment in the comment section below. And if this post was helpful do me a favor and also let me know in the comments.
P.S. If you are serious about building a network marketing business I recommend you sign up for my Free newsletter on the side of the blog. I send out powerful business building tips and trainings to my subscribers on a regular basis.