Network Marketing can be a game changer for an entrepreneur. It is no longer the antiquated business model of past direct sales practices of selling products direct at parties. The industry has advanced to incorporate a sales & business models that allows an entrepreneur to reach into global markets, crossing borders and into many countries.
A network marketing professional can have clients globally thanks to the online e-commerce platform. Allowing a consultant to potentially earn income from sales in diverse markets with different spending cycles, tapping into global economies.
I have been in Network Marketing for over 8 years consistently with the same company. I started with my chosen company and then was inspired to go back to school at the age of 43 to earn a diploma in Holistic Nutrition. However, I have been an entrepreneur for over 20 years. Business is business, it comes with needed skills, training, mentorship and ethics. The industry if Network Marketing is not immune to these needed practices, however I have seen and experienced some questionable moments.
I say to all my new business partners “do not take off your entrepreneur hat and put on the NWM hat”. Keeping our traditional entrepreneurial skills, business traits and ethics is paramount when deciding to be a network marketing professional.
Which Company Do I Choose and HOW?
There are so many great professional companies out there. The industry has come a long way but the impact of social selling is congesting the space of affiliate programs. So it can make your decision a little bit harder? Do I join my cousin, my BFF of 20 years, or my aunt ? You don’t want to make anyone mad?
I see so many articles and posts about why NOT to choose a company to rep for, I felt it was time to offer some sound and solid advice on how to choose the RIGHT company to rep for. Every industry on the earth has companies and individuals who have less than professional standards and practices. Do not write off the entire industry off, instead do your due diligence and follow some common sense checklists like these below.
- how long has the company been in business, experience through economic business cycles is a key factor in how a company manages through tougher times as well as good times
- is the company set up to take payments in the denomination of the country(s) it distributes in?
- who is the parent owner of the company? knowing this is essential in an ethical consumer purchasing era. People want to buy from ethical companies that they can trace down to the parent owners of the company. Many consumers would be shocked at who owns many of supplement companies on the shelves
- what is the compensation plan? Binery, hyrbid, unilevel, breakaway, direct sales….these all come with different outcomes and it’s pretty important to understand what you are choosing
- Do the products have government approval in each country to be selling example in Canada we have NPN’s on products with our company, we have been approved by Health Canada. Same in all the other countries we sell in.
- Is there a global opportunity to grow your business?
- sustainability practices? do they have moving formulation & ingredient policies? Certifications on products? Vegan?
- Is your clients forced into auto-ship? Is the consultant based forced into auto-ship and monthly requirements? (this is my gap stop, we do not require clients to buy each month nor the consultant base) People do not want this type of membership, so knowing this will help you keeping clients and consultants happy long term.
Think Like an Entrepreneur
I have seen so many women and men make an emotional decision choosing a company versus a business decision. In the end, they have circled back to me with regret and wishing they had coached with me or joined me in business. Keeping the points above in mind, it is imperative to make a smart business decision, choose a company, mentor and business model that fits your entrepreneurial core.
Be Careful Who You Listen To
One more fact I need to address is being careful who you listen to when it comes to taking advice about this industry, specific companies or experiences. Due diligence is wise, but also you must take caution of where the info is coming from and what is that sources ultimate goal in relating the info? Seek first to Understand then be understood is a fantastic approach to finding your perfect fit. Do not believe the hype. Sound solid businesses and professionals are changing the world and making a difference in this industry. If you are ready to take the conversation to the next level and do some due diligence about adding an income stream, grab more information here.