What do you look for in a start-up MLM company? What would make you sign up?
I am currently looking into what appears to be a great and exciting opportunity with an MLM. I'm curious as to what you look for in an MLM and what would make you want to sign up. Thank you for your responses.
Answers (5)
OK let's get the ball rolling:
- The products. By far the most important factor. Have they got a real unique selling proposition? Do they have real value? Unrivalled quality, customer service etc?
- Stability of company. Do some intensive research on the company. There are plenty of resources out there to decide how stable and trustworthy it is.
Some people look for new start up MLM companies as they like to "get in early". However, you are exposed to the fact that the company may not survive or decides to pull its MLM scheme at any time. Your hours of hard work up the swannie. (I can give real examples of this by the way)
As for the other bits - ie payment schemes, meeting structures etc they are generally based around the same principles so don't base your decision on this.
Final bit of advice - don't give up the day job.
Good luck.
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Rey S
Global Demand Manager at Abbott Diabetes Care
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You'd want to look for good products reasonably priced with a good compelling proposition to enable repeat business. A business model that's easily understood and a product line that can interest potential downlines.
You'd also want to look at yourself whether you have the drive and the contacts to build your network. The issue being if you haven't been a "people" person before, what makes you think you can make a living being a "people" person now (which is to a great extent the key to being successful in an MLM business)?
Best regards and good luck,
Diana R
Internet Marketing, Local Search, & Relationship Marketing Expert
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I would NEVER get involved in a start-up; the vast majority fail.
I just turned out an invitation to a "great start-up" today because it didn't meet my biggest criteria - the PRODUCT or SERVICE has to be good enough and unique enough that people would buy it whether or not there was an opportunity attached to it.
The list I'm including, below, was generated by Lisa and Chris Cree, who had been involved in several direct sales/network marketing companies in the past, had enjoyed "modest success" and who were looking for the "ideal" business.
1. No home parties / presentations.
2. No opportunity meetings.
3. No inventory to carry in your home.
4. Company has at least a five-year track record and is growing.
5. Company offers something no one else does.
6. There is no month end volume you must fulfill.
7. A product that is marketable to the individual as well as the business owner.
8. A consumable product that is widely used on a regular basis and is a relatively easy and fun for people to market.
9. The product is appealing to both men and women for either business or personal use.
10. The start up cost is minimal for entrepreneurs.
11. The product is competitively priced for the average customer (i.e. non-entrepreneur) to use.
12. There is a balance of "right now money" and "residual money" earned by distributors.
The "ideal business" they found is Send Out Cards - the same company with which I am affiliated. Sounds like an ideal fit for your type of business, Shari. Certainly worth a look!
For more information about Send Out Cards, or to take a free test drive, please click on the link below.
Diana
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Diana seems to have hit all the major points. What I would add is that I would pay strict attention on how it was first presented to me. If they have to "hide" the opportunity and they need 30 - 60 minutes before they even tell you what the heck it is...run.
I also would prefer something that is sold to companies rather than individuals. This of course cuts down on potential volume. The one company that I might have considered was Prepaid Legal, not selling to individuals but to companies or through companies which still allowed you to get volume business but not hit up friends, relatives and strangers at the health club (actually happens to me).
Services not products. A successful MLM pays its reps for making sales. Nobody likes to sell. Therefore, a successful MLM has something that does not need to be sold and that people use habitually and subconsciously. Even though there are successful product driven MLMs, many folks struggle with them because of customers discontinuing the purchasing of the products. Services from big name, household companies is the recipe for success.
Pay plan, company leadership, company finacial stability, time tested, training & support, and ease of duplication are the remaining keys.
Good luck.
