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The 5 Criteria and Conditions of a Successful Network Marketing and Multi-Level Marketing Business
The description of the 5 criteria for successful network marketing as written below is the result of an insider analysis of 200 network marketing companies by a marketing expert. network, who has built a successful network marketing business.
The main question is:
Why do some companies do this and why do some companies not?
The general answer is:
A: Because of greed and ego, most network marketing businesses fail.
B: Business models drive behavior in the field.
When the business model is not set up correctly and correctly for a network marketing company, it is doomed to fail.
The 5 success criteria and conditions that a successful network marketing or multilevel marketing company must have:
1. The management of the company must be of integrity and with experience in network marketing.
The first thing to ask is: did they build a successful downline?
Most do not have this experience. They don’t even know how to spell MLM or Network Marketing!
If so, then they respect you and you don’t have more than 5 pages in policies and procedures.
Verification of the company’s management
To know the integrity of the company’s management,
A. Do a Google search and just type in their name and see what’s written there, also under how many of their companies have already failed. Consult the entries in the commercial registers with the name of the owner/s or directors and/or managers of the company. You can also do a Google search on the business owner along with the word scam.
B. Go to eBay and see how many of these products are being sold on eBay. When products are sold on eBay, there is absolutely no credibility involved.
You will not be in a good marketing position when you offer the products at X retail price, and on eBay you can find the same product for half the X price.
C. Does the company charge you for a ready-to-build ordering website?
Does the company charge you for any training?
When the company charges you for these two simple things; the management of the company lacks integrity and the company will have a very high overhead, which affects sales and profits.
Your personal business website and training should be free.
2. Policies and procedures
Policies and procedures should not exceed 5 pages. The more pages in the policies and procedures, the more overburdened a company is which will almost certainly affect product prices, plus the company wants to steal your paycheck. There are many examples that when an independent distributor earns a big bonus check like $35,000 a month, the company tries to terminate that distributor or does not renew the contract on the renewal anniversary.
The company with high overheads intends or makes changes to the compensation plan that most of the time is less profitable for the independent distributor (Network Marketer).
The red flag should be raised at:
Term: Can the company terminate you each time for any reason or no reason?
Renewals: The company will not be able to renew your contract on your birthday, at any time and for no reason.
The last one happens very often when a distributor makes more than $40,000 a month. There are many examples and proofs of this.
3. Timing of the company and timing of a product in the industry.
You never want to be at the start of a business!!
Many make a big deal about being first in the pre-launch phase. Many of them do not create a product, but sell names and email addresses for large amounts of money.
If the company and product are good enough, they will still be around 2 years from the start.
The fact is, most businesses fail in their first two years.
4. The product must be consumable and must be excellent and of remarkable quality.
When a product is not consumable, when it lasts forever, then there must always be new sales with new customers. This is a huge work.
But when you have a consumable product of excellent quality, the satisfied consumer wants the product again and again.
1. The most important thing is that there must be a tangible physical product that you are buying or selling. When there is no such tangible physical product; When you pay for air, a position or something you can’t touch with both hands; wash it, forget it. It’s a scam.
2. If you can only pay for your product (to your upline) by money order or bank transfer, do the opposite. The safest way is to pay by credit card. Most importantly, you need to go to a checkout page, listing the product, with the product number and transaction number, along with the price and name plus address and contact information such as ‘seller/company email address.
3. The product must be consumable and not last forever.
4. The product must be reasonably priced. Ask yourself: Would you buy the product if there was no compensation plan attached? When the answer is yes, then the product price is right for you.
Then you have to check if the price is reasonable for your customers. When they do well, you can start selling the product. But when the price is very high and the Business Model offers a 30% discount on the price of signing up as an independent distributor, you should know that people are only joining your business to get the product for less . But they will never build the business.
The minimum difference between the wholesale price and the retail price must be 25%.
Know that in all normal business the product is sold at twice the wholesale price. Retail = (2 X) Wholesale.
In network marketing things are slightly different because the independent distributor doesn’t have to take care of research, manufacturing, documentation and brochures, setup costs and administration, etc. So a difference between the wholesale price and the retail price of 25% or more is OK.
5. Check if you have competition with your product or if you have a unique exclusive product. The first thing to check is if the product is sold on eBay. The easiest way to check is to go to the eBay website and enter the company name first. In this way it is easier to find the products, because many listings have other titles and make it difficult to find them.
When you find that the products you are selling at X retail price, and the same product is priced very low on eBay, the company and its business model and product lack credibility. The company has a wrong business model and has put the products at a high price because of a very high cost overhead. This high cost overhead will also result in having much more than 5 pages policies and procedures of the company that binds the independent distributor.
4. Compensation plan.
A. You need a compensation plan that pays the part-timer well.
B. People at the bottom of the compensation plan must earn more by selling products or consuming those products. Otherwise, the compensation plan is not good for a Network Marketing.
Especially when high percentages are paid at the top level or immediate downlines are established in a very short time; this is a sign that business is being done at the highest levels. The rest of the downline doesn’t know about these offers and they don’t make a dime from building a network marketing business with this particular company.
Overall: The best compensation plan is the one that pays the most, with the fewest people in your downline, for the part-time network marketer or distributor.
You need to look at what the average man earns with part-time work on a compensation plan.
Superstar space commander bonuses that only 3% of people earn are not interested.
Analysis of a compensation plan
Analyzing a compensation plan can be done by doing the math and simply crunching the numbers with just a calculator:
The general calculation to be done is:
How much volume do you need in a month to make $10,000 and divide that by the people/distributors that need to be in your downline.
5. Lead Generation / Lead Generation / Duplication System
Network marketers need prospects for their business. Most of them are buying a list of leads and prospects.
After discovering that these leads are non-responsive and therefore worthless.
If your upline tells you to buy leads or make a list of names; run to the other side.
This cannot be duplicated!
You have to understand that the only one you have to promote is yourself! People join people. They don’t join companies. Network marketing is not a sales business. It’s a relationship business.
You need a proven duplication system. This means that the system is duplicated when you exit. (And after you quit, you earn residual income.)
This is where our free advice and support advice comes in with a proven duplicate system (for over 26 years);
Everyone who downloads your free e-book report is someone who wants to do business with you.
Therefore, it is extremely important that you have access to this proven duplication system.
You can get this system of your own to register through the bottom of the site:
It’s your decision with your vision to have what you want from live, that attracts that and it comes true. Your thinking, vision and decision for success.
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