Dear readers, welcome back to my blog. I guess it’s time for me to continue part 2 of this series of article. As promised, in this section I will address common questions like the followings. How strong is the company? Does it have a good reputation and track record? Will it be there throughout my journey to achieve Financial Independence and Personal Freedom? Will the company grow with me?
These are all valid questions as we have seen many MLM companies actually turns out to be scam and many actually have been closed down. This is the worst thing to happen to anyone who has started an MLM business because not only they lost big amount of money but worst it ruins their dreams, integrity, reputation and self-esteem. And worst still, when this happens, it affects the reputation of the MLM industry as a whole.
So this makes it more important for readers who aspire to start an MLM business to really pay attention to this. By doing this, they can ensure that they put their money at the right company and also help the MLM industry to screen bad filthy scam company from thriving under the false pretext of helping others.
So now, after long introduction :) you may ask how do tell whether a company is really a good and real MLM company?
1. Check on the company legal status.
As with other legal business, an MLM company is also regulated under acts and policy. Meaning they must first registered as a company and acquire license before being allowed to operate. So this is the good start. Check with your local authority on the company registration and license to operate in your country. Also check in the internet whether the company owner or board of directors has any legal proceeding history. One good example here is the MLM scam company SkyBiz which is popular around late 90s.
2. Research on the company background and history.
Is the company established and has a good reputation and a proven history. It may be troublesome for you to go to its’ headquarter which is located in another part of the globe. One quick source is the company website itself. Normally they will put up a lot of relevant information. You can check on the award, recognition and certification it has won. Established body who grant the award and certification normally has an official site. So make sure you visit their site and validate the MLM company claim on awards bestowed on them by the granting body.
3. Find out the quality certification and insurance coverage
Apart of this, it will be a bonus if the MLM company has quality certification. By this I mean the ISO and QS standard. For your information one of the toughest ISO certification is ISO14001. This is only awarded to a company with ZERO market claims for 50 years! Is there any MLM company with this good reputation? There is! Check out the ISO site. Also, does the company have a strong insurance to back-up the product? Insurance company will only provide huge amount of coverage to the company that they trust. And if an insurance company trusts something, they sure have done lots of homework. You can count on their judgement.
4. Verify the MLM company commitment to stay in the business
Normally a scam company won’t bother to really invest. What they do is just setup one big center or headquarters or worst just operate on the net. Because once collapsed, they won’t burn that much of money plus it will be easier and faster for them to disappear. Recent good example of scam companies are the 12dailypro and the Swiss cash scheme. But a really good MLM company really plan for its growth. They will have proper offices and they are not afraid to invest if the growth prospect is good. So check out the MLM company’s headquarter at your local area and also find out their existing branches.
5. Validate company growth
If you are an effective employee, it will translate into your productivity. Similarly, if the company is really good, that is having a sound business model and good growth prospect; it will translate into good sales track record. Any legal public company must have their earning audited and published. So make sure you really validate the sales growth figure.
These 5 guidelines pretty much covered the company aspect of a good MLM company. But I must stress here, knowledge without application is a waste, hence before you make any decision to join an MLM company, please pause for a while and make sure you go through the guidelines above.
So far we have covered the market and the company, I’ll see you again in the next series of the article, i.e. the product. See you around and have a nice day :)