5 Network Marketing Success Factors You Can’t Afford to Ignore

Network Marketing — By Esther Spina

Network marketing can be a pathway to fulfilling your best dreams, but if you ever want to get past the dreaming stage there are a few things you need to learn – fast.

Many types of products and services are offered via network marketing companies. Some are excellent in all respects, but unfortunately, not every company bothers to do things right for its customers or associates.

If you are considering entering network marketing you owe it to yourself to consider these 5 critical factors that ultimately will determine your success.

1.   The Product or Service

  • Is it something you would own or use yourself?
  • If so, is it clearly superior to similar offerings, or is there nothing to distinguish it from the rest of the field?
  • Is there strong demand? If not, you may find yourself having to create a market, which can take a lot more time and money than you may have to invest.

2.   The Company

  • How big is the company? It needn’t be a giant, but it should have enough critical mass that you know it is going to stay in business.
  • Who are the people at the top? Do they have stellar reputations and a track record of success?
  • Is the company financially strong? If the company is publically traded there will be financial data readily available, but privately owned companies do not have to make public financial disclosures. Ask for financial information.
  • Does it have a good compensation plan? This is the heart of any network marketing opportunity. The plan must be fair to all, and it must especially reward those who clearly excel. Closely investigate all revenue streams offered and what it takes to progress to each level.
  • If the product is not unique how does the company set itself apart? Does it have a unique selling proposition no other company has? Pick a company that gives you a chance to succeed.
  • What kind of business systems does the company provide? Good companies offer personalized websites at low cost that you can use to manage your business and in some cases market it, too.

3.   Target Market

  • You have two primary markets – people who buy the product or service and people who you want to become part of your organization. The latter group is far more important.
  • How will you identify people you want in your organization? Many network marketing companies tell you to call on family and friends and other “warm” markets, but you should consider that a warm-up exercise. Focus on people like yourself; people who have already indicated interest in and potential for a network marketing career; people who like people and like to help others.

4.   Training

  • What kinds of formal training does the company offer – workbooks, videos, audio recordings, live individual or group training? Some people respond better to one type of training than another, so the better companies accommodate those learning differences.
  • Do you like and respect the person who would be your trainer (the person who recruits you, in most cases)? If you don’t have a good rapport with this person it will be very difficult to succeed.
  • How available is your trainer? Make certain you have access to the person who recruited you, or a someone whose job it is to help you. You will lean the most and the fastest by just jumping in and working, but it’s good to have a mentor nearby.
  • How are other people in that person’s down line organization doing? Is it growing and thriving? If not, keep looking.
  • Is there a “fast start” plan to get you going right away? It’s important to start building your organization fast so you see progress for all your good efforts.

5.   You

  • You are the biggest factor. No matter how good the product, the company, the target market and the training, none of it will matter if you are not fully committed to your own success.
  • You must have the “want to” and the energy to relentlessly drive toward – and through – your objectives. Plan your work carefully and stay focused and what is really important.
  • Just as the person above you is critical to your success, you are likewise to the people in your down line organization. That, of course, means you are critical to your own success because when they prosper, so do you.

Remember, no matter what product or service you sell, you are in the PEOPLE business. The fastest way to succeed in network marketing is to do your best to help others succeed.

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Author: Esther Spina (2 Articles)

Esther Spina is one of America’s leading network marketing experts and a champion of women empowering women to achieve true financial freedom. She started at the bottom with Ambit Energy and soon became one of the big energy company’s top income producers by building a down-line organization that numbers in the 10s of thousands of men and women. As a platform speaker Esther brings a dynamic presence and “Yes, you can!” message to audiences eager to learn her secrets of success.

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