Selecting a company

The importance of choosing a great company:

Network Marketing is a $40 billion per year industry where 25% of those that are working full-time are making in excess of $100,000 per year. It is a great industry to be part of, however, a critical element of having success in this industry is aligning yourself with a great company. Unfortunately, this is the #1 reason that people fail in network marketing…they do not know what to look for in a company.

For most people, the primary factor that causes them to select one company over another comes from their excitement about the product or service that the company provides. While this is an important factor (you must believe in your product), you could have the best product in the world and still go out of business due to poor management. On the other hand, there are many people marketing products and services that are hardly revolutionary or life changing and they are making millions of dollars.

So, let’s briefly cover the 6 most important elements (in order) that go into selecting a good company:

1. Owners – No company is better than the people running it. You should know everything that the owners have done for the last 20 years; good and bad.
2. Coaches – Who are the top distributors, what is their background and who will YOU be working with directly on a daily basis. Even if you are with a great company, you need to be working directly with somebody that is making a good income and knows what they are doing.
3. Systems – People are not duplicable. Systems are. McDonalds isn’t the most successful burger franchise because they make the best burger, but because they have a duplicable system. There needs to be a simple, effective system in place that anybody can follow to successfully build their business.
4. Tools – Tools give you leverage. Who can dig a trench faster? 100 burly men with shovels or an 80-year man with a tractor/excavator? There need to be effective and inexpensive marketing and training tools at your disposal.
5. Compensation Plan – Everybody says that their compensation plan is the best. Take the time to look at 3rd party materials that discuss the pros and cons of different compensation plans and see how yours stacks up. Also, it is important that you can easily understand the compensation plan, easily explain it to others and easily make money with it!
6. The Product or Service – This is pretty obvious. You need to be offering something that people want at a price that they will pay for. Keep in mind, if your company is successful there WILL be competition. How is your product or service protected from being easily duplicated by competitors?

A great resource for researching other companies is www.mlmwatchdog.com . This website keeps tabs on all of the happenings in the industry; good and bad.

There are SO many other things that we could discuss with this very important topic. If there are any questions that I can answer for you, please e-mail me at patpetrini@gmail.com.

To your success!
Pat Petrini