Network marketing is one of the fastest growing and most misunderstood business opportunities in the world today. It is the mission of MLM Times & Reviews to assist you in making a sound, fact based evaluation of the network marketing industry and the companies with whom you may consider being involved. We believe the information here and in the rest of this site will save you thousands and potentially make you millions.
Is Networking Marketing For You?
This sounds like a ridiculous question, but it’s really not. How are you evaluating whether or not a network marketing opportunity is right for you? Perhaps the best way to begin your analysis is to ask yourself some simple questions about you. Start with these:
- What are my skills & interests?
- What is my ultimate outcome?
- What skills & attributes am I lacking and am I willing to develop and grow to achieve my outcome?
- What is my plan?
- Am I willing to COMMIT to this business?
What Are My Skills And Interests?
There is no question that you have specific skills. Without them, you would not be able to earn a wage or salary. You also have interests you share with others and guess what? There are many, many more people you do not know who share those interests. The question is, can you use your current skills and / or develop new skills that will allow you to turn your interests into a business? With network marketing, that answer is closer to yes than no.
What Is My Ultimate Outcome?
An outcome is different than a goal. It naturally includes all of the attributes of a well defined goal, including specificity, being measurable and achievable, as well as being timely and realistic (realistic is quite subjective and fluid). However, an outcome is also sensory based. In other words, it asks us what we will see, hear and feel once it is achieved. This is a critical distinction, because it allows us to avoid the old adage of “it’s not getting what you want, but wanting it after you get it”.
Outcomes allow us to gain human fulfillment along with all of the exoteric trappings of success that accompany wealth. By understanding what you will experience with your senses, you will know you have achieved your ultimate outcome.
What skills & attributes am I lacking and am I willing to develop and grow to achieve my outcome?
The truth is that one cannot grow an organization any larger than their shoulders can support. How many companies have you heard about that started great and ended abruptly? Usually, this is caused by a failure to evolve continuously and grow one’s business in a manner in which it can be supported. And the very first leap any entrepreneur must make is a mental one.
Can you shift your personal paradigm from a salaried W2 worker into that of a business owner? It is a HUGE question that you must answer because if you cannot make this shift, it is very likely you will not succeed in any business, much less network marketing. This site is full of tips and educational material that will help you determine if you are not only capable of this (you are), but also whether you are willing.
What Is My Plan?
Do you know how to create a business plan? While it is a certainty that nearly every company with a network marketing distribution channel provides you an overarching achievement plan, few such plans provide you daily activities that must be executed in order to achieve your outcome. Throughout this site MLM Times & Reviews provides you information that will allow you to plan effectively, but in our membership area we will actually provide you detailed information on how to create business initiatives and break them down into daily activities to bring your end result to fruition.
Am I willing to COMMIT to this business?
Before answering this question, go back and read point 3 above and think about it. Ask yourself if you can make the mental leap into entrepreneurship. Find someone whom you trust and respect who is successful in their own business and ask them about this. Tell them about your interest in developing a business using a network distribution model and make sure they understand you are not prospecting them and only seeking advice on a general level. You will be surprised at their answer and the difference in their interaction with you. And here is the acid test – ask yourself what is the absolute worst thing that could happen and whether or not you can live with it.
Evaluating a Company
It is very important to understand how to evaluate a company with whom you will be involved and whether or not they will be in business long enough for you to achieve your outcomes. An example of a company with great products and a poor operations plan is the Sensaria.
Sensaria manufactured and distributed beauty & wellness products and by all accounts, the products were tremendous. Sensaria’s problem was not distribution, but controlling operations and manufacturing costs that would support the compensation plan of the distribtuots while maintaining a competitive retail pricing strategy. The latter ultimately put them out of business and if you Google them, you will find the sincere lamentations of their loyal customers. Their products were outstanding, but it was not enough to save them from poor operations planning.
It is important you understand how to evaluate the internal machinations of the company with whom you are interested. Throughout MLM Times & Reviews and again in our members area, you will find specific instruction on how to perform fundamental analysis (financial evaluation). You will also learn how to perform SWOT (Strenghts, Weaknesses, Opportunities & Threats) as well as a PEST (Political, Economic, Social & Technological) evaluations. All of the instruction you will find here is in simple layman’s terms, so you need not worry about understanding the material.