Are you interested in expanding your network marketing business? Are you curious as to know what the best MLM companies are doing to achieve success? Do you want to make sure that you have the right product and marketing practices?

The fastest growing network marketing companies all share the same characteristics. The following are four key factors that determine growth of network marketing companies, by www.mlmattorney.com.

The fastest growing network marketing companies all share the same characteristics. The following are four key factors that determine growth of network marketing companies

The fastest growing network marketing companies all share the same characteristics. The following are four key factors that determine growth of network marketing companies:

1. Find the Right Niche Market

Finding a niche market is the first prerequisite for significant MLM corporate growth. A product that is similar to dozens of others will be very difficult to position properly in the network marketing industry.

The fastest growing network marketing companies are innovators. Successful MLM companies find an empty niche market or they create the need for a new market. This way, MLM companies are capable of guaranteeing their market positioning. Having to compete against well-established and well known direct selling companies is going to make your startup endeavor more difficult.

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Consultants often hit a dead end once they’ve exhausted family and friends as their first customers. Yet, some consultants make tremendous amounts of money without having rich (and supportive) relatives. How do they do it? Here are a few tips on how you can grow your MLM business:

1)      Never stop selling. Connect with people at the park, at your kid’s school, at your church, at parties, and at any other event where networking happens naturally. Ask for email addresses and phone numbers and make sure to keep a stockpile of catalogs, newsletters and business cards handy.

2)      Create goals for yourself. If you want to make “X” amount of money per month then do the math. How many parties will you need to have and what are the average sales you’ll need for each party? If you need two successful parties per month, then you set a goal and stick to it.

3)      Reach out to your customers. Keep track of your customers, what they bought, and when you think they might run out of product. Be sure to touch base with them to make sure that your customers become and stay repeat customers.

4)      Get organized. Use a business journal or computer program to keep track of your customers, including their names, what they’ve purchased, when they’ve purchased it, their contact information, and your general thoughts on their interest in the product and being repeat customers. At the very least they will appreciate that you’ve kept them in mind.

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This blog post is the companion post to the video: Role of Compensation Plan in a Successful Direct Selling Company. The following is the transcript of MLM Attorney Jeff Babener’s own words:

Hi, I’m Jeff Babener of MLMLegal.com. I’d like to talk to you today about the compensation plan. It better be good.

Does a compensation plan make or break a startup MLM company? History suggests that a good compensation plan is helpful and absolutely necessary. Does it drive financial success? Probably not. Will a bad compensation plan contribute to failure? Probably, together with other unlucky breaks. As industry expert Michael Sheffield notes with respect to a good compensation plan, “Its absence will be noted more than its presence.”

Is there anything new under as far as compensation plans are concerned? Probably not. The goal is always the same regardless of the type of compensation plan: motivate varying behaviors of distributors, ranging from direct sales, to building wide to building deep, to supporting a downline, to maximizing sales volume production and retention.

It is of key importance is that the compensation plan is easy to explain to recruits and that it is perceived as fair and balanced.

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