MLM Business – Which One Is The Best?
MLM Business – Which One Is The Best?
Often times, when people begin to look for an MLM Business to start to promote, whether it is for a little extra income, job replacement, an alternative to a side job, or what have you, they run into the question, what is the best Network Marketing business out there?
I am a big advocate of figuring out what is best for the individual, as each individual situation is different, regardless of what some will claim in each opportunity that theirs is the best for everyone.
However, here are a few criteria items that you need to look at when determining the “best mlm business”.
What Is the MLM Company About?
First is the idea of what is the MLM Business and Company all about? There are a plethora of MLM companies to choose from, but each one has their own unique angle on things. Some are old, traditional ones, that have been around for what seems like decades (and in fact have been around for 50+ years).
Others are new ones, filled with hype, working on capitalizing from all of the launch hype and being a ground floor opportunity like no other one. These sometimes are a flash in the pan kind of MLM opportunity, but very valid in terms of money earning potential, at least in the short term.
Yet others try to align themselves with “causes” that are out there, such as environmentalism, entrepreneurialism, or charities. Some even donate a certain percentage of the procedes to third world countries.
With all of that said, what kind of company and home business do you want to align yourself with?
Network Marketing Business – The Products
Next is the actual products that each company promotes. Now, here is the interesting thing. Many like to talk about MLM products per se, but in reality there are no such things as network marketing products. Rather, there are product lines that are simply promoted via direct sales channels or by a Network of associates, or network marketing. These rely on individuals and traditionally their warm market contacts (although this industry has expanded beyond the warm market, as you’ll read soon enough) to spread the word about these products and services to people that know and trust you.
Now with all of that said, as many products as you see in the grocery store, clothing store, retail chains, electronics stores, etc, there are different companies that promote them. Some companies even promote themselves as a “one stop shop” for everything, replacing all spending under one roof so to speak.
Also, many think of health and wellness or cosmetic mlm companies when they think of MLM in general, as these are some of the biggest and oldest ones that are out there right now. However, in recent years, many companies have branched out into a vast array of things, like electronics, gold, website hosting, jewelry. You name it, there is a company out there promoting it.
MLM Compensation Plans
Finally is the compensation plan that each company has. Now, we won’t go into all of the details about the differing compensation plans, binaries, one-up, % payout, legacy plans, fast start bonuses, etc. There are thousand of different ways to get paid from the products alone, not even counting the business builder packages for recruiting new distributors into the mix. You name it is out there.
Personally, I think that there isn’t a “best compensation plan” out there, but is again, largely reliant upon what you are comfortable with. However, the both the product pricing and comp plan will have a large influence on the “who” you are marketing to for either.
Finally, one thing that you don’t hear talked about much is the actual act of building a business, that of the MARKETING of it. This is by far the most important part of it. With the correct marketing, you can make virtually any kind of business, compensation plan, or product line for that matter.
One particular kind of marketing has come into vogue recently in the MLM business community and that is that of Direct Response marketing, which utilizes a couple different principles, but relies quite a bit on picking WHO you are marketing to, and filling their needs.
Answering questions like “Who is looking for the benefits of what I am offering”, whether it is the product or business, and “how can I give them what they want?” to increase sales are just a few surface questions that can greatly increase your sales and bottom line.
In addition, the advent and popularity of the internet has given the MLM business entrepreneur unprecedented access to that exact target market…..those who are looking for exactly what you are offering. Using things like search engines, blogs, videos, social networking sites can give you access to literally millions of people at the push of a button.
If you’d like to learn more about using direct response marketing combined with leveraging the internet to access those potential MLM leads, simply fill out the form below with your name and email address to get instant access to 7 free days of cutting edge internet MLM training to help you generate up to 30+ free leads per day using nothing but the internet.