The wrong choice in network marketing can have dire consequences. This week I have been flooded with calls by people because their network marketing company closed for business without notice. What looked like a viable, well-funded company was gone in a day. Thousand of distributors were left without a home, dreams were dashed, tears flowed, and desperation was the theme of the week.
Network marketing has become big business, and in big business the stakes can be high. Do not underestimate the importance of choosing the right company. If you choose poorly, you may be out of business soon and left starting over in the near future. Starting over is never fun and can be very discouraging.
People join network marketing for many reasons, but a primary reason for aspiring entrepreneurs is that they want to enjoy the benefits of personal business ownership. The right traditional business and the right network marketing company allow entrepreneurs tremendous opportunities for freedom and accomplishment of dreams. Statistics show that most traditional businesses fail and failure often brings with it huge economic hardship to the company owners. Equally, start up network marketing companies have a high failure rate. Failure in network marketing is rarely accompanied by catastrophic financial hardship for the new distributors but can leave the most profitable distributors without their life’s income. There is no question that network marketing is a viable alternative for those seeking to own their business if the company they choose has the right attributes. So, CHOOSE WISELY.
Properly run network marketing companies allow entrepreneurs to own a business and leverage the sizable resources of the company. Network marketers are able to achieve huge economic gains without putting their own financial security at risk. Leverage of the company’s resources gives new entrepreneurs tremendous financial tools and advantages they simply do not have to start a traditional business.
The largest investments needed for new networkers are typically the utilization of personal relationships and time. Both relationships and time are precious and should not be wasted at the expense of the wrong opportunity led by the wrong people. With network marketing companies closing up every day due to the decisions of the company executives, choosing the right company has never been more important. Relationships and time can be preserved but the new networker must truly understand the cost of choosing a company and support line poorly.
Here are 4 questions that every aspiring entrepreneur must ask before joining a network marketing company:
1. Will the company go long term?
2. Will the products sell outside of network marketing?
3. Will I be rewarded for my effort?
4. Will the training produce successful representatives?
Few new networkers know how to really answer these questions properly. Stay tuned for my next posts as we examine this very important decision of choosing the right network marketing company.