What do you look for in a network marketing company? How do you pick the right MLM company for you? I heard there’s a new network marketing company and it’s a ground floor opportunity – should I join it? How about we skip past all the hype and clickbait and talk about what to look for in network marketing companies in 2020.
There are a lot of new network marketing companies emerging in 2020 because well, people are seeking opportunity, flexibility, and a safety net to fall back on. And one of the common questions is “what’s the best MLM company to join.” So, here are a few things to look for in network marketing companies and I’ll leave the most important one last.
#1. Compensation (Comp Plan)
First off, let’s be clear. I’m not a comp plan expert, but… There’s no such thing as best comp plan ever, just the idiots who say that. So, let’s make sure you steer clear of Network Marketers telling you. “I have a spot in my downline. Grab it before it’s gone.” “I’ll put you on my power leg.” Or, “I’m a BIG recruiter! I’ll build one of your legs for you.”
This is called hype. And it works REALLY well on the weak. Good luck building a downline on that. The best compensation plan for network marketing is the one that pays you. So look at how you’re getting paid. Also, is it lop-sided? Meaning, you only get paid well for recruiting, but barely anything for customers? Rather, look for a comp plan that pays out equally for both. Here’s a fun fact…80% of your team doesn’t feel confident with recruiting. But they love heck out of recommending products to people. And speaking of hype…
#2 Company Longevity
Look, there are new network marketing companies popping up every year. When you’re looking to pick an MLM company – do some research on how long it’s been around. In my personal opinion, I’ll never do “ground floor opportunity” ever again.
I’ve done it. I heard the “90% of companies never make it through the first 5 years.” And I kept saying, “Well this is different.” And then it went under. But hey, maybe you love risk and want the chance at being a “Founding Member.” Have at it. For me, if I’m going to build long-term residual income, I want it to last a long time. So, consider looking for a network marketing company that’s stable. And has gone through the first phase on growth and momentum.
For more info on how to do this, visit SaleSource, where we have a ton of in-depth marketing guides.
Now the last tip I can give you for best network marketing companies to look for might surprise you, because it has everything to do with:
#3 Community, Culture, Training, and Leadership
Sure, your products can be awesome and your comp plan can be out of this world. But nothing touches community, culture, training, and leadership. Does the community feel appreciated regardless of being a “heavy recruiter” or “being on the leaders board?” Does the culture breed FUN? Because truth is, network marketing is optional. Your downline doesn’t NEED to be there. They can pack their bags and call it quits any day. But, having a ton of fun and feeling appreciated will keep them around much longer, because they feel appreciate, regardless of being a massive produced.
In terms of training and leadership: Is there a training in place that is already proven to work? This will be incredibly important not just for you, but for the people you on-board as well.
Lastly, take a look at the leaders in the company. Quick reminder…rank title does not equal leadership. There have been plenty of “leaders” at the top rank who are absolute poison. Which is very unfortunate for them, for you, and your potential downline. Because I’ve seen people who love the product. Love the company. But their upline is a meanie and has no clue how to build culture in their team page.
However, with that said…your success doesn’t depend on your upline. At the end of the day, the person in the mirror is responsible for their success. There’s a big difference between, “I’m here to help you build your business…” And, “I’m here to help. You build your business.”
So there you go dear reader. I wish you nothing but the best of success and I hope this video helped you find what to look for in network marketing companies in 2020.