It’s difficult choosing an MLM Opportunity as a Home Based Business.
Whether you are a complete novice looking for the right company to join to realise your ambition of making money from home, or an experienced Network Marketer with many (possibly less than successful) teams already under your belt, its easy to get drawn in by the launch mania and hype that is sometimes part and parcel of MLM. So how can you set about analysing the opportunity on offer to see if it is REALLY one of those ‘Best MLM Opportunities’ (after all, they all seem to claim to be just that).
This is the first in a series of seven articles that give some pointers based on my experience in looking at and in some cases becoming involved in many MLM businesses over the years.
First of all lets look at the basic details of any MLM/Network Marketing scheme that you should consider before deciding to invest your future in it (and you will be investing both time and money if you are serious about making the business work for you).
The areas to consider are
> The Company
> The Officers & Leaders of the Company
> The Marketplace the Company is addressing
> The Products the Company is bringing to the marketplace
> The Pricing and Commission structure for the products
> The MLM Compensation Plan
> The Cost of Joining and the Ongoing product ordering commitment
This Article will address the first item – in many ways the most important: The Company itself.
Is The Company solid and well funded?
New startup MLMs occur daily on the internet. Often they are have no product to sell other than the promise of wealth for those that ‘lock in their positions early’. Some of these companies launch on a shoestring budget with no proper website or back office functionality. You should be very cautious of such companies as they may be depending on membership fees from the first members to fund the company. Be particularly careful to investigate the people behind such companies to see what their previous businesses did.
(Where you find a startup company, on investigation of its website, has a comprehensive and professional web presence, just carry out the same investigations as suggested below for established companies).
For established companies, it should be possible to do some research on the internet to see what positive or negative comments exist. Be skeptical of both good and bad comment! Many of the positive reviews are posted by distributors who are team-building and want to attract you to their team – some are undoubtedly genuine, but some may not be. Some bad comments are left by disaffected distributors, competitors or people trying to sell ‘Manuals’ or lead systems to struggling distributors (not necessarily of the Company you are interested in – they just use keyword insertion in their AdWords copy to make it appear they are responding specifically to your query about that company).
If the company is well established, they will have a professional, high quality web presence. Take some time to look at this in detail and look at their News and Press release sections. Also check the contact details – try calling the contact phone number, check the office address (use Google to search for the address) and if there is a support desk number try it. If any of these fail to actually confirm the company details, treat with caution.
Lack of company address details, or registered addresses in Panama, the Cayman Islands or other jurisdictions where there is a level of secrecy and difficulty in verifying company operations may be an indication that the company activities are at best regulated (gambling, financial services etc.) or at worst suspect. The reason for this choice of address should be investigated. Note that a valid postal address is a legal requirement in some jurisdictions for carrying on a web-based sales business (e.g. in Europe it is part of the Distance Selling Regulations).
Be sure to read the Contact Us, T&Cs and Leadership Information sections of the company website. these should all be well presented pages with full details of the company location and contact details, their policy on returns etc., affiliation to regulatory bodies such as the DSA and details of the people involved in the company and their background. Lack of detail or T&Cs without proper structure and gravitas may indicate that the company has not invested in the required legal infrastructure for its business.
You will need the information about the people involved in the company in the next stage of your due diligence, which will be covered in Article 2 on the Officers and Leaders of the company.
If the investigation of the company has not led to you ruling out the opportunity as too risky without any further examination, then the above will give you a good idea whether the company is a solid established business, a genuinely attractive new venture or a company that requires careful scrutiny. In any case, but particularly where the company has no trading history and a limited amount of public data on its website, the next step is to look at the people behind it.
This will be covered in the next article in this series.’
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