Is an Online MLM Business for you?

Posted by Jess on Mar 22nd, 2009

Before you spend another cent on a course, product or service you need to take some time to assess yourself and the online MLM industry.

It take a certain type of personality to persevere through the trials and tribulations we all faced on the road to success in the home based business industry.

If you begin the journey with even a hint of self doubt or have an attitude of “Well, I’ll give this a try for a few months and if….” then you might as well quit right here and now.

Ultimately, the only way to know if the online MLM business world is for you is to jump in with both feet and try, try hard. But there are a number of questions you can ask yourself as well as questions you can ask your prospective mentor before taking that first step.

I have taken the liberty of creating a top 10 list of questions you need to answer in order to assess yourself, your mentor and your opportunity.

Lets start with You:

• Why are you interested in the online mlm business industry?

If your answer is simply to make money or to make more money then you need to dig deeper. Your “why” needs to be about more than debt relief, a big house and a fancy car.

• What are you willing to sacrifice in order to achieve success in the online mlm business industry?

Yes, in the beginning you are going to need to make sacrifices. Sacrifices such as missing you favorite T.V. show, putting time into your new business after working all day, not going out on Friday night with your friends, working weekends etc.

• How are you going to market your business and generate leads?

It doesn’t matter if you are an affiliate for Ebay or Amazon, a member of an MLM or a savvy inventor with the next best product you need to learn how to market and generate traffic and leads for your business. This is unavoidable. If you can’t answer this question yet, then you need to research it and find out.

Moving on to your Mentor:

• Why are you in the online MLM business?

If they can’t give you an answer beyond, I want to make money, then you need to find someone else to work with. This is why I asked a similar question of you at the beginning of this. Someone’s “why” is a solid barometer of their internal drive and can tell you a lot about their character.

• How do you mentor you team? Do you plug them into a system? What sort of training do you provide?

I know there are 3 questions here but they are all connected. I have had mentors that simply tell me to do what they did without taking my personality or strengths into account. Just because I have found success using certain marketing methods does not mean they will work for my business partners. A true mentor takes the time to listen and help their new partners find their unique voice and marketing style. Also, beware of “plug and go” one size fits all systems…they don’t work.

• Why did you choose company “X”?

Now, I always step a little cautiously with this answer because it can turn into a debate. Particularly when speaking with someone who is thinking about switching companies but is looking for the holes or negative aspects of your business. When you ask this question, do so with the genuine intention of learning about your prospective mentor and company. If you ask with a confrontational tone you could be asking for trouble. But, any seasoned mentor will have no problem answering this question openly and honestly.

Finally, the opportunity:

• Does company “x” have a proven track record and financial stability?

Be cautious of start-ups or pre-launches. The online MLM business is enough of a challenge, you don’t need pre-launch bugs to deal with.

• Can you sell the product without the business opportunity?

You want the answer to be “yes”.

• What are the marketing policies and restrictions?

You would be surprised at what lurks within the fine print of an affiliate agreement. Many people have been burned because they find out after the fact that their hands were tied when it came to marketing the product and the opportunity, (I know, I have been down this road before)

• If there was not a business opportunity attached, would you still buy the product and would it still hold it value?

If you are buying cases of juice or bottles of vitamins for $100’s just because of the business opportunity, you are setting yourself up for failure. If the product(s) is not something that will hold its value once the business opportunity is removed from the equation then you need to find another company.

I can not stress enough the importance of answering ALL of the questions above before pursuing an online MLM business opportunity. One last thought, take the time to read The Coffee House Letter if you have not done so already. You can find it by clicking here: Coffee House Letter.

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