What may be the best MLM business that works super for you, may not be the best one for me. Why? Success in any business, but especially in network marketing requires absolute passion for what you do or what you sell. I may be passionate about a healthy juice product. You are very passionate about a dog training MLM, for example. So to find the best MLM business we need to look at more than products or services - or even passion.
To make it easier to rate different network marketing companies and be able to select a great one, here are four keys to help you pick out the best MLM business. These are not in any particular order.
1. How long has the company been in business? There are a lot of "flash-in-the-pan" companies that don't last even 2 years. A good guideline is about 5 years, but this is just a guideline. If you feel very passionate about a brand new MLM - Go for it! This is the first key you have to be able to judge whether you should join a company or not.
2. What is their "Retention Rate?" What percentage of new sign-ups actually STAY on the monthly autoship program for at least 6 months? The MLM industry "standard" rate is a dismal 15%. Find a company that has a higher - a lot higher rate, and you will know that people actually love and are selling the product.
3. How much competition is there? This is a BIG deal. Why do so many people join network marketing companies without giving this a thought? There are a few "niches" that I personally would stay clear of. And this includes"Juice" MLM companies, travel businesses and cell phone companies. I have nothing against these companies. But why put yourself at a disadvantage from day one? So be looking out for a company with NO competition that has a hot product - and you'll be looking at the best MLM business!
4. Do tons of people really LOVE and USE the products? Are the products part of a growing trend or one that is slowly dying? You will want to do your own research into all of this and ask yourself some hard questions. One important question: Has the company's growth already passed it's upward climb? There may be declining sales if this is the case. This may have nothing to to with product popularity, but sometimes it does.
These four keys should help you and enable you to pick out the best MLM business for you. I personally have found the best one for me. It has NO competition, has an outrageous retention rate of 90%, and has an ever growing prospect population of at least 130 million people - just in the USA. My only downside is the company is about a year old.
When you find the best MLM business, you will need a great marketing system to attract the right kind of customers. Look in the box below for some ideas that could help you with this. To find out the only company that I will promote for the next 10 years, you will have to look at my blog.
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Stephen Bolin - The MLM Prospecting Guy - Don't Let Anyone Steal Your Dream
