HOW TO TELL IF YOU'RE WASTING YOUR TIME IN NETWORK MARKETING
Time is our most valuable asset. It's something we can never get back once it is gone, so we need to be sure we are investing our time wisely. My intention is to show you how to choose which Network Marketing company is right for you so that you aren't wasting your time (and energy) on a company and opportunity that isn't likely to bring you success.
First I just want to start by saying that Network Marketing is truly such an incredible business opportunity for people who are wanting to supplement income or replace income altogether, but there are certain things that are going to determine if it's worth your time and if you can truly create success with the Network Marketing company you choose to partner with.
When it comes to success in Network Marketing, it comes down to three contributing factors:
How much effort you put in.
Your sponsor and access to tools/training.
The company you choose to partner with.
When it comes to choosing a Network Marketing company to partner with and creating success, there are five attributes the company must have:
There must be a demand for the products.
The products are consumable and have to be replaced.
The products bring value to you and your customer's life.
The company has a high annual retention rate (meaning people stay a customer or consultant) year after year.
The company offers a continuity (monthly order) program for it's consultants and customers.
Without these things, your Network Marketing business isn't likely to be sustainable or successful. For example, if your products aren't in demand and don't create value in the lives of others, people don't want/need them. If your products aren't consumable, people have no reason to reorder them. If people don't reorder products or take advantage of the continuity program the retention rate will be low. If your retention rate is low you will constantly have to replace your customer base, which is as exhausting as it sounds. Can you imagine having to replace 85% of your business every single year? No thanks.
I can't stress enough how critical it is to make sure that these factors add up when you choose to partner with a Network Marketing company and invest your time in growing a business. I want everyone in Network Marketing to see success, but more times than not I see so many fail because the company they have partnered with doesn't provide these key things that are essential for creating success and a residual (month after month) income.
If you have already found a great Network Marketing company to partner with, you are good to go! If you haven't and are looking, I have one more tip for you:
When considering a company to partner with (that has all of the key attributes I listed above), search on social media platforms to see how their consultants run their business within that company.
Is it something you feel like you can do and teach others to do? Do their marketing methods resonate with you or scare you away? These are things to consider as well because more than likely, this is how you will be trained to do your business and as I mentioned before, your sponsor, training, and tools provided are some of the most important things in creating success within your Network Marketing company.
Best of luck out there Network Marketers!