Importance of making an Informed Decision before Joining an MLM
What is an Informed Decision?
An Informed Decision is a decision taken by the prospect by thoroughly analyzing the pros. and cons. of every business opportunity. No decision in life is a perfect decision. Every decision has its benefits and shortcomings. It is very important to analyze the degree of risk one could get into by making the appropriate choice. For example, Online Business Systems is very lucrative - however the investments are very risky as mentioned in my previous hub. By saying this - I do not mean that you should not join the Online Business Systems Marketing affiliated to Herbalife - However - the company does not mention all the downsides and the risk factors involved upfront giving the prospect a very lucrative talks. There are many people who have become successful with Online Business Systems Marketing - however - it is also very important to see one's personal commitment before making such a decision.
As it has always been said - "Hope for the Best - But be prepared to face the Worst". We always need to keep this in mind while analyzing different options i.e. the degree of risk involved when the worst happens! Whether it is worth taking the risk or not?
It is very important to analyze the different scenarios - talking to people who are successful on what are the factors that brought them success? What are the factors that was challenging and how they resolved those challenges?
It is also very important to talk to people who were not so successful as expected - what are the different issues that did not work out for them? What are the different challenges they felt. The difference between what they expected to what they actually got?
Once we are able to analyze all the scenarios - both best case as well as the worst case - this will enable us to make better informed decision. It is also the combination of attitude, mindset, determination and dedication to the path as well.
Making Informed Decisions before joining different MLM's
One time - when I had been waiting for my flight to Detroit, MI in the Memphis, TN airport, a gentleman approached and sat besides me. We broke into a conversation. He immediately befriended me - and then started talking about his company FHTM. He was showing all the lucrative benefits of joining FHTM - the perks and the massive growth with this business. At that time -I was pretty new to the Internet Marketing world and I had no clue about all the Internet Marketing knowledge that I currently have. He went on in depth - explaining me by showing me all the different marketing models - growth etc... Then I asked him one question, "How do I recruit new reps. in my downline?", "How do I retain my downlines?"... For this, he told me, "You need to talk to different people you know. Talk to friends and family etc" He also said that out of 100 people you talk- you will surely be able to recruit atleast 10 people in your downline. At first - it sounded an exciting proposal. I was about to sign up in the business - then I told him - I will think about it and get back to you. I got his contact details and also he got mine as well...
Then it suddenly occurred to me - that I don't want to be doing this cold talking to people around me and start harassing the people around me.. Not only will I lose my attitude quickly - but also won't give me effective results. Then I quickly rejected the offer.
To be successful in any network marketing industry - it is very important to learn and understand their marketing practices as well as get an idea on different methods emphasized by the company. Once the prospect is really clear - this will help him make better Informed Decisions for the future.