If You Have Ever Said I Would Like To Retire Early - Then Network Marketing Could Be The Perfect Opp

If You Have Ever Said I Would Like To Retire Early - Then Network Marketing Could Be The Perfect Opp

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I want to begin by discussing Network Marketing (aka - MLM, Direct Sales, Direct Marketing, Direct Selling, Multilevel Marketing) in general as a tool for retirement. Does it make sense to start your own home based business within the network marketing field? The answer to that is certainly yes. Most of us are seeking a way to retire wealthy. Or we just need a means for us to get rich and replace our current income so we don't need to rise up every morning and go to a job we don't like. In other words we all desire retirement solutions that don't take decades to come to fruition. And there are people who just want a little extra cash every month. Direct Sales provides us with a business that we could start with a small investment, work part time or full time, offers great on the job training and we can work from home. It does not require any experience, special skills, or knowledge. And age is not a factor. Young and old alike can create a great income in a very short time.

Ok, so how do you pick the right one out of ten's of 1000s of Network marketing companies out there? That's a very good question. Hopefully I will provide you with a few tips on how to analyze these companies.

Before you get caught up by the hype of any one company you'll need to understand how these companies are marketed. Most Direct sales companies have a video or PowerPoint presentation either via internet or on DVD which is shared person to person. These presentations are created by professional marketing companies and include a large amount of hype and excitement. Many could make you feel that if you don't join "Immediately" you will be missing out on quite a lot of money. Do not let the hype tempt you into joining a business that may not be right for you. Here I'll show you exactly what to look for so you realize precisely what you are getting into. Always remember you are looking for a long-term business that can give you a residual income for the rest of your life and provide you with the early retirement you're looking for. Regardless of whether you join today or next month it should not make a difference.

First thing you ought to look at is how long the company has been in business. You might hear terms like "ground floor opportunity" or "start-up". All this implies is that the business is relatively brand new. Statistics show that over ninety percent of all new MLM companies fail within their first 5 years. If you are ok with joining a new company in hopes that it's going to still be around after five years and you are among the few that "got in early" then this shouldn't be an issue for you. It will be however a gamble. I prefer not to take a gamble. If I'm going to work hard for my financial future I want the best chance for that company to still be around. How am I going to retire young if the company I join closes its doors? I personally like a business to have no less than a 5 year track record. At least you know that they have lasted beyond their first 5 years.

Secondly, you must try to find out as much as possible about the company itself. If you can, try to speak to people who are currently involved with the business. Ask the person who is showing you the business opportunity to let you talk to some other members, preferably people not in their team and listen to their testimonies about their experience with the company. This shouldn't be a problem. If it is, it should raise a concern. Also check to see if the company is a member of the Better Business Bureau or other business organizations. In the Network Marketing industry there is an organization called the Direct Selling Association or DSA (http://www.DSA.org). From the thousands of businesses in this industry only about 200 companies are members of the Direct Selling Association. The reason for that is that they require their member companies to abide by a high degree of strict business ethics. Requiring that the business you join be a member of the DSA may limit your choices of companies to consider. But, it also eliminates any potential scams. The DSA is sort of the police of this industry and are there to safeguard us, the people. If you can not find a company that suites your needs in the about 200 Direct Selling Association member companies then maybe you are being extremely selective.

The third thing you ought to analyze is the product or products you'll be marketing. It is extremely important that you give careful thought to this part of your evaluation. You should completely and undoubtedly be committed to and believe in the product. If you don't, you won't ever find success. Ask yourself if it's something you will use. Then ask if you think other folks can use it also. Is there a benefit to others? Is there worth to the end consumer? Is it exclusive? I recommend you spend a lot of time evaluating the product since it's an extremely big part of your complete evaluation of the business.

Next we are going to get into one of my favorite parts to research when looking at a Multilevel Marketing company. It's the section that shows you how you get paid. It's referred to as the Compensation Plan. Compensation plans are available in all shapes and sizes. Some are particularly complicated and others are very straightforward. In my opinion, I prefer simple. If the comp plan is too complex how do you think you're supposed to know how much effort is going to be required for a certain level of pay. It is a very complex topic even when explaining a simple comp plan. So allow me to offer you a little advice. Stay away from any comp plans that let you go wide. That means that you can sign up as many individuals as you want in your first level. The reason I say this is because really the only person who benefits from your first level is you. This business is about helping other people attain their goals and dreams and your goals and dreams will happen. You would like a comp plan that will help as many people as possible. You also want to stay away from comp plans that "cut off" at a particular level. Again if they cut off at a particular level that means one may build wide in your first level. Just look for a plan that makes you build deep not wide. That is why a binary plan is best. It requires you to build deep. Now most binary plans obligate you to build each side evenly. You will find modified binary plans that allow you to be compensated even if your business isn't built evenly. If you've never been a part of a MLM business this will sound alien to you. I recommend that you study a variety of compensation plans so you can compare and get a feel for them. The best way to look at a comp plan is through the eyes of someone you sign-up. Ask yourself this, does my helping this new individual succeed help me succeed? If the answer is yes then it's probably a very good plan.

Another element to the compensation plan is the monthly purchase requirement. This is an obligation the company puts in place that requires that you buy a certain amount of product every month. Usually that quantity falls somewhere between $100 and $500 per month. You can not retire early if you spend your money on products you don't need every month can you? Be very cautious with this because the presentation does not always come out and say what that monthly purchase requirement is. It's a sneaky way for companies to hook you with a tiny initial membership fee and then hit you over the head with a $300 per month bill. Taking $300 per month for instance gives you a $3,600 yearly expense in products that you may not use. This one issue has left many people with a bad taste in their mouth regarding the Direct Selling industry. Do your homework! I personally dislike monthly purchase requirements. I prefer a business that will allow me buy what I want, when I want, if I want. Make sure you are going to be comfortable asking other people to join you in your business. If you don't strongly believe it helps others, then don't join.

The next part to consider is training and support. You need the training and support to be company wide. Essentially that means you want the company to be involved in the training and for them to have some sort of training system. You do not want your training to come exclusively from your up-line sponsor. The main reason for this is your sponsor might not be a good trainer. You want to ensure you get trained well and understand the system the company employs. That brings me to the next issue which is the system the company uses to market their products. Not all companies have a system in place. Some allow you to do whatever you want in promoting their products and others are very strict on what you can and cannot do. Try and look for a company that has a proven simple duplicatable system that all members use. This makes it very easy for you to learn and teach to others. Duplication is the best way you can help others help themselves.

So there it is. If you're looking to retire rich, I truly believe Direct Selling is one of the best ways for anyone to attain financial freedom and retire rich and live their dreams. In summation this is what you need to look for.

* Don't get caught in the hype

* Five year plus business

* Talk to other members

* Investigate the business with credible sources like DSA and BBB

* Analyze the product and make sure you strongly believe in them

* Fully understand the Compensation Plan

* Be careful for monthly purchase requirement

I hope this short article helps you on your quest for retirement. For further information and education on the Network Marketing industry visit http:/monicoaguiar.com anytime.

About the Author:
Online Guide for Entrepreneurs
Learn how to increase your chances of success in your Network Marketing Business.
http://monicoaguiar.com



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