How did you pick a company to join?

[BusyBee]

Here I am with a new question.

Before joining your network marketing company, did you use some type of business review process to help pick the right deals?

[Yuliya Mironova]

I joined mine nearly 8 years ago for a variety of reasons, some very good with hindsight and some just completely lucky, because I was only 18 and had very little idea what I was doing at the time.

Fortunately, I trusted my father and brother to advise me what was a good company to join, and actually joined it because they both knew distributors in it who were colleagues of theirs (MD's), so the products were very highly recommended in that sense, at least, and weren't available anywhere else in Europe (and still aren't), and had very high re-order rates - I don't understand how companies or distributorships survive without that! And the company itself was well-established and I knew a few people in it who'd been making a pretty good living from it within 3 or 4 months of joining it. So those were my main reasons, though I admit it was more by luck than judgement that they all turned out to be sensible reasons, and could probably just as easily all have gone the other way for me.

Still, it was actually a kind of "business review process" really, because at the time I'd just left high school and had no income to speak of, and I had to get a "business development loan" (i.e. borrowed a few hundred from my father!) in order to start it up; but he made me produce a proper "business plan" just like a bank would have done, and doing so was a hugely valuable process (though I didn't appreciate that at the time!).

[Amy Jacobs]

For me it was trial and error I did many different company's before I found one that stuck.

[ChristinaDennis]

Honestly I wasn't even "looking". I coach gymnastics and one of my student's moms left a postcard at the desk with me and I let it sit in my purse for about a week. But I was curious so I checked out the website and was instantly hooked. I think knowing the person personally was probaby a big things for me because I knew she really was successful with it and then I just decided to jump in. I was instantly convinced tat the company was amazing and really had something great to offer both as a service and to it's brokers.

[square.wave]

I like to work things backwards to increase my odds. Success leaves clues... find all the successful MLM companies, find the ones have churned multitudes of wealthy distributors, then study for clues.

for example, what type of comp plan did they use? is there one particular type of comp plan noticeably more successful then the rest, or is it completely random? At what point did these companies see most of their growth? during the first year, not until after it the 5 or 10 year mark, maybe even later? with almost everything in life you can apply Pareto's Principle aka the 80/20 rule, so which 20% of products was responsible for the majority of their success? what is unique about that product?

these are just a few questions of many, but I like to reverse engineer success anytime I think it's possible...

[jennster]

When I filled out the form online I thought it was for a work at home job and the lady that emailed me all the details called me and I was so excited and I have to say I was quite naive because I had no clue it even cost money until she asked for my Credit card info. So needless to say I did NO Research it just seemed like a really great company and I was already passionate about what they offered so it was a win-win.

[BarbB]

Animals are my passion (I have 9, also run a small cat sitting business) so Petlane was a perfect fit.

[MidwestMommax3]

I company I finally found was a true blessing. I knew about it but didn't pay much attention. Then I did a pros and cons list. I found the company on this site actually, but I went over and analyzed the comp. plan, fine print, policy/procedures, restrictions, you name it. I've done many things before and got tired of investing and investing into something that wasn't for me. So I'm truly happy that I found something now.

Funny thing, before that I joined a company that I also did not research. Not sure why I was so quick to get my credit card out and join. Complete scam like you wouldn't believe. Seems like everybody on Facebook was doing it so I thought what the heck. Learned my lesson!

[GratefulMom]

Great Question... I actully really analyze companies before moving forward. Here is what I do... I hope it helps someone:

1. I must believe in the product before I look at anything else. It really doesn't matter what the comp plan is if I don't believe in it I won't market it.

2. I only enter a business that has an expanding market. I want growth. So for example, I wouldn't market FAX machines, to me that is a shrinking market.

If the business passes 1 & 2, then I begin my due diligence

3. I want to understand how the money flows. What type of compensation plan is it, how do I get paid, when do I get paid, are there charge backs, what leverage is in the compensation plan (you want to make money from the work of others, otherwise you have a job where you only get paid if you keep working)... but I do not want employees (headaches!) I want associates/team members with everyone helping each other. The comp plan must reward my sponsor for life! This is critical otherwise your sponsor becomes your competitor (yikes!)...I want my sponsor to make money off my efforts because that is an incentive for my sponsor to ALWAYS help me.. ongoing training and education.

4. I want to know who owns the company. Who founded, who are the managing partners, who is in charge of product development... and what is their track record and why are they running or involved in this business now.

I've found when I do this level of due diligence I get what I want, a business with high integrity, excellent return on investment, and a good fit for me.
Good Luck!

[KristenG]

Very excellent points GratefulMom. I think that once you have found a product and company that you like and would feel proud representing, then you can delve deeper to see if the structure/requirements of that business fit your needs. Ask a lot of questions and do your due diligence up front. That way no matter what happens in the future you'll know that it was something that you researched.

I will say though that there's something to be said about going with your gut instinct. There are certainly many MLM opportunities out there, but the one that gets you excited, keeps you awake at night when you first learn about it and is something that you know you'd want to tell all of your friends and family about...well, to me that sounds like something worth pursuing.