How to Find a Good Network Marketing Company (Part II of a 2-Part Series)
Network marketing companies have come into their own in the 21st century as savvy network marketing companies have learned from the mistakes of the past. As more and more Americans look for extra income in today’s bad economy or look for job opportunities due to business closures, downsizing and outsourcing, they are considering alternatives to traditional salaried and hourly wage jobs. Network marketing is one of the most viable income earning options out there. It can also be risky.
Be a Network Marketing Superstar!
While a great deal of an independent representative’s success at earning money through network marketing depends on his own work habits, a lot also depends on the company.
What Makes a Network Marketing Company Successfull?
As mentioned in Part I of this series, there are pros and cons to network marketing, so it is important to wisely choose a company to invest your time and money into. There are several things to consider when looking for a reputable network marketing company where your chance for success will be high:
1. How Long Has the Company Been Around?
While a startup company could have a fine product and a vision for growth, it is hard to put that in the bank. There are no guarantees a new company will succeed and no track record of success to build upon. It is wise to look for a company that has already survived its start-up years successfully.
2. Is the Company Debt Free?
Many a company has had a good product and survived their start-up years by borrowing heavily. Disappointed consultants discover several years down the road their products are being discontinued and their company is going out of business, or that their incentives and earnings have been reduced.
3. Is the Brand Recognizable?
It is much easier to present a product when potential clients have heard of the brand. Look for a company with a brand with name recognition.
4. Has the Product Been Tested Either on Consumers or Clinical Trials?
It is imperative to find a product a representative can believe in which has been proven to effectively do whatever it claims to do.
5. Does the Company Have a Track Record of Success?
It makes good business sense to invest in a company that already has a history of success and a reputation built on credibility. Look for a business opportunity with a company that has already proven the efficacy of their products as well as a track record of paying comissions and incentives as promised.
6. Are the Start Up Costs & Monthly Fees Reasonable?
Fortunately, the cost of starting a network marketing business is typically much less than buying a franchise. According to Why You Should Consider the Rodan + Fields Business Opportunity, the costs for purchasing a franchise ‘can run from $20,000 to several hundred thousand dollars to get started.’ Look for a network marketing business with an affordable start-up fee and reasonable monthly fees.
7. Has the Business Already Saturated the Market?
While it it important to seek a business that has some name recognition and a history of success, there is a downside to gong with a business that has already saturated the market. It is harder to build a customer base or a business where there are already many representatives of that business operating in the area. The best time to grow is when a company is building momentum, not when it has already covered the market.
8. Does the Company Offer Accessible Ongoing Training & Support
No one wants to plunk down their hard-earned money to invest in owning a network marketing business only to discover they have become the Lone Ranger without even a Tonto to count on. Look for a company that offers regular local meetings, phone and video conferences and other forms of training, accountability and support.
Rodan + Fields Dermatologists
One company that meets all the above criteria is Rodan + Fields Dermatologists. Founded in the 1990s, the company is a pioneer in the lucrative skin care market which was valued at over $15 Billion in 2008 and is estimated to reach $5.6 Billion by 2015 just for medicated skin care products (see Part I). While Rodan + Fields is known as the makers of Proactiv Solution, the most successful acne treatment in the world, in 2002 Rodan + Fields launched a new skin care network marketing company designed to treat the problems of aging skin. With the tremendous profits from the sales of Proactive behind them, Rodan + Fields is debt free, with a recognizeable and highy successful brand. Today Rodan + Fields offers new skin care regimens, which have passed extensive clinical trials, only through their trained independent consultants.
For more information on Rodan + Fields or network marketing, visit my Rodan + Fields website or leave me a comment below.
Also see Part I: Why You Should Consider Network Marketing for Extra Income in Today’s Economy
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