Wondering how to start a network marketing business? We take you step-by-step from start to success.
(article continues below)
Business Plans 101 for Network Marketing Business Startups
Startup entrepreneurs slave over the creation of their business plans, investing countless hours in the details of their startup strategy. But your business plan won't be finished until you've included material about your industry.
Industry analyses are standard chapters in network marketing company business plans and are often required by lenders or investors. Industry analyses are critical for contextualizing your startup within an industry setting.
To succeed, you'll need to be careful to avoid common industry analysis mistakes and to accurately represent your startup in an industry context.
Prior to launching a network marketing business in your area, it's worthwhile to see how you will fit in the competitive landscape. We've provided the link below to help you generate a list of competitors in your area. After following the link, enter your city, state and zip code to get a list of network marketing businesses in your area.
It's important to be aware of what the competition is doing. Take the time to visit the competition to properly assess their strengths and weaknesses.
A Good Source of Advice
After you've evaluated your local competitors, you really ought to speak with somebody who is already in the business. It's very unlikely that the local competition will talk to you. Why would they want to educate a future competitor?
But, a person who owns a network marketing business on the other side of the country may be more than happy to give you a few tips, as long as they don't view you as a competitive threat. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How would you find a network marketing business entrepreneur in a different locale who can assist you?
It's easy. Here's a link you can use to find a mentor outside of your area.
Gaining Access to Network Marketing Business Ownership
Some entrepreneurs buy existing network marketing businesses, while others plunge headfirst into a network marketing business startup. Although startup network marketing businesses are common, many new entrepreneurs overlook the benefits of buying a network marketing business on the business-for-sale marketplace.
If you're on the fence consider this: There has never been a better time to acquire a network marketing business. The down economy has resulted in a glut of available businesses, many of which can be acquired for bargain prices.
If you prefer to partner with others to launch your new business, you may want to consider leveraging the success of an established franchise network.
Before you consider starting a network marketing business, you should check out whether purchasing a franchise might simplify your entering the business.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own a network marketing business, these resources will come in handy:
If you came here to learn about selling to network marketing businesses, this isn't the right place for you. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.