What to look for in choosing an MLM company?
Nowadays, more and more people are joining MLM companies. They have seen a lot of people enjoying a great life out of their efforts from selling cosmetics, health products which are commonly traded in this kind of MLM opportunities, but attaining this would only be possible if you choose the right MLM company for you.
There are signs to look for when joining an MLM company, and NWORLD is here to guide you through them.
MLM is, by nature, a trading industry that has a license to distribute, sell, or trade its products. It is necessary to join a good company where you will devote your time for; commit and dedicate yourself to achieve something out of this opportunity.
Here are a number of points to consider in choosing an MLM company:
1. Look for a company that has owners and top management with strong track record of success in the MLM industry.
It is necessary to research and look into a company before committing to it, especially because some are willing to become full-time distributors in exchange for their careers and businesses. You have to be with the one who is not only experimenting. One should not experiment on something that hundreds or thousands of people are depending on as their livelihood.
2: Look for a company governed and operated according to the law.
Tax compliance for network marketing professionals is one of the few, yet significant, matters that are often not discussed in most trainings. Thus, a great number of networkers do not get to comply with proper tax filing.
A good company that is in compliance with government regulations compels its constituents to make the necessary tax filings. A good company always provides a BIR Form 2307 of the tax withheld from the commissions of their distributors.
Whenever ask for a copy of BIR Form 2307, which is proof that the company has remitted the total withholding taxes deducted from your income from a certain period, they should be able to provide it to you without any trouble. An honest company should have this document accessible and available to its distributors at all times.
For instance: If you made One Million Pesos this month, the company should be able to give you your BIR Form 2307 reflecting an amount of One Hundred Thousand Pesos which is the ten percent (10%) of your total earnings. Such is the correct amount to be withheld by the company for commissions. Nothing more, nothing less.
Even when NWORLD is doing its business operations in accordance to the law, there are still a lot who sugarcoat or cover up their companies using legitimate MLM schemes, when they are actually not. There are several entities claiming to be MLM companies when they are in fact, investment scams.
“May produkto sila, may office sila”
Registering a company is easy, basic requirements are just about available when putting up a corporation in the SEC (Securities and Exchange Comission) or DTI for sole proprietorship or partnership. However, a serious company will ensure that it has the necessary, secondary, and relevant licenses, permits, and registrations. That’s what makes a company legitimate. After all, if one was an illegitimate entity, why should it undergo further licensing which would only be more troublesome for them. Only a committed company would bother to do so.
“Ilagay mo pera mo dito, kikita ka” or “Wag mo lang i-encash pera mo, we will grow it for you.”
Beware of those shady entities that promise these, especially if they cannnot show you the proper licenses to collect and solicit funds from their distributors or customers; you have to report them to the concerned government agencies.
Be warned when companies offer a fast return of your investment at a rate that a bank wouldn’t offer, unless they are licensed to have products for sale or to get investment from people. When companies that claim to be MLM companies promise income or returns from investments, then that company should have a different license that allows them to take money. An MLM company should not guarantee a return on money; you make money in MLM by selling their products. The moment a company offers an investment-type of money making program, then they are not considered and MLM company anymore. They are only pretending to be an MLM company. By definition, MLM companies are trading companies, they are not licensed to solicit money.
Should you run into these entities, here are the contact information of the government agencies you can report to:
3. Look for a company that is well capitalized.
A company that is well capitalized is well-funded from the very beginning. These companies have owners and investors who are already established and their goal is to create a significant business rather than enriching themselves first. They are not in a hurry for success and therefore they will not blindly rush towards it.
Advantages of a well-funded company.
Well-funded companies from the beginning already have a strong foundation and a solid financial backbone. The owners are ready to invest, especially in the best people and/or technologies that will facilitate advancements in its business.
NWORLD started with One Hundred Million Pesos initial paid-up capital, and while on its first year of full operations, the company even added Fifty Million Pesos to its paid-up capital, and increased its authorized capital to Two Hundred Million Pesos. This capital might be measly compared to other industries such as banking, real estate, mining, or insurance, but these fund amount invested by NWORLD is perhaps one of the largest or maybe even the largest in the Philippine MLM history.
4. Look for a company with a good overall corporate vision and governing strategy.
The company, owners, and top management should have not only a good track record, but must also be relevant, have a good understanding; and have a serving heart for this business. It should emanate from the formation of the company itself.
On a micro level, it shows how those in top manages its people. An MLM opportunity is a great opportunity, but it does not condescend and will never be the only all-righteous opportunity on earth; it can coexist with one's profession. If you find it more profitable or enjoyable or the overall return is better, then that is when you can decide to turn it into a full-time career.
If the leaders of the company do not steer the boat in the right direction, it will be unpleasant. We are an entity that strives for the wellbeing of everyone while promoting healthy competition and environment without being condescending to other people and with other industries.
MLM has created a lot of successful people, but we need to create the right set of values and culture for everyone participating in this industry. Success or prosperity when handled poorly, can lead you to something that sets you back way worse than you were starting or give you terrible results. We want to welcome everyone, not by antagonizing them or getting back to them when you are already successful. One must act and behave properly; they must act like human beings with emotions and compassion to other people’s thoughts and ideas. Their industry and what they do is not the only basis for goodness.
5. Look for a company with a good set of product lines fitting your lifestyle, background, or preferences.
Transition will always be difficult, so you have to ensure that you have a connection with the products offered by the company - could it be a need or a want, to make it more convenient as you do your sales strategies and activities.
Unlike other companies that have more than a hundred product lines, NWORLD currently has twelve products that are carefully formulated to provide a world class experience to our customers in cosmetics and supplement lines. In a greater sense, this allows our distributors to focus and concentrate on the products, thus creating stronger product knowledge. Such competency definitely benefits our distributors in making the products more marketable.
NWORLD provides opportunity to conduct the business right and to help you achieve your life goals. Apart from having it as your vehicle to success, NWORLD also provides the freedom and lets you enjoy creating a package of your own; which is the first in the MLM industry. You are not obliged to get certain products that you may not want. That is the NWORLD advantage! Allowing customers to become distributors with no obligations, no strings attached, it is as if you are buying products in a supermarket. You get to pick what you buy.
Duly licensed, duly registered, with government regulatories, well-made, and manufactured by ISO certified, GMP compliant companies. Better assurance of quality and efficacy. Being cheap and new does not tantamount to being disreputable.
As with any profession, one must be careful as to not dive blindly into shallow waters. Look up to the company you are interested in. Make sure you are comfortable with every aspect so you can put your trust and effort in that company. - Alphanetworld Corporation