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Your friend just joined an MLM or Network Marketing business and is asking if you'd like to make some extra money? You trust her and everything sounds great. But do you really know if this is the right business for you? Many times people get started in MLMs or network marketing because of a friend or family member's recommendation. That can be a wonderful introduction to excellent products and services. But if you're looking to make some serious money, and especially if you're new to this industry, do your homework before joining. If you are already with an MLM and you're not having the success you want, don't blame the industry. You may not have found the right company for you. Search for people that really know the answers to these questions, and then make your decision. 1. How long has the company been in business? If it is a brand new start-up, there may be huge potential, but there can also be huge risk. If the company is new, talk to people at the headquarters to learn more about the management team and their history. Companies who have been in business a few years have track records to help you gauge how stable they are. You don't want to represent a company that folds in a few years. 2. How do people earn money with that business? Is it through recruiting, retailing or a combination of methods? The more options you have to earn money, the better your chances are of finding something that you enjoy doing. And if you recruit others, they have those options also. 3. Do you like the product or service the company offers? Many times people join an MLM for business and financial reasons. But if you don't like the product or service you are representing, you won't go very far. To be successful, you need to be a product of your product. Your belief, or lack thereof, will speak much louder than any words. 4. How much money does it really take to get started? There are a variety of programs available and many have very low start-up costs, but find out if there are additional costs once you join. Choose a business that works within your budget. But remember, anything with real income potential takes some initial investment. If you have nothing to invest right now, start saving today. A home business is one of the best tax strategies you can have. 5. Is there true residual income? If you are looking for significant, long-term income, this is a critically important question to ask. For most MLMs when you build a team, or an organization of other people who buy products or services from the company, you get a commission on their purchases. True residual income means that if you decide to stop working that business at some future point, you would still continue to receive commissions from the company on purchases of your team members. Companies vary widely though on whether they will still pay you commissions if you stop working. Some have quotas or growth requirements that need to be met to get your check. If you are serious about long-term income, you cannot afford to gloss over this topic. 6. Will you get the help and support you need? Most people need support from an experienced, successful person for coaching and mentoring. "Sponsor shopping" is very common. Interview the person to find out if you connect with him/her. And if you partner with a friend or family member who's new to the business also, make sure there's an experienced member of your support team available to help. Have you ever said "I don't like (or want) to sell?" You're not alone. Most people dislike "selling" because we remember buying something we didn't really want because we felt pressured. Not a pleasant memory! This industry has grown so much. Good mentors show you how to listen to people and offer solutions. So, the final guideline is... 7. Trust your instincts. If you have some fear and uncertainties, that's normal. But if you feel pressured to join or to buy, run the other way. Successful network marketing is about honestly helping others. And when you find the right company and product, it is a wonderful vehicle where ordinary people can truly earn extraordinary incomes. You deserve success and happiness. Don't let anyone or anything steal that. Blessings...
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