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Top Adding - Evaluating MLM Companies
Just as you have to evaluate products and services, you have to evaluate the companies you intend to represent. There are things to look for in a promising company as well as red flags to look out for. Don’t let the v
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
isions of wealth and success blur your perspective. You must weigh these factors before you invest your time and money.
Focus is on Retail Sales
A good MLM will focus on retail sales as much or more
Focus is on Retail Sales
A good MLM will focus on retail sales as much or more
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
than recruiting new distributors. If the products bring value, the company will be able to lead with the products and convert retail customers to distributors, not the other way around. If the focus is on recruiting a
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nd you have to buy a certain volume to be a distributor, this is not a good sign. This is more of a pyramid scheme than a legitimate business.
Free Training Materials Supplied By Upline
Your upline s
Free Training Materials Supplied By Upline
Your upline s
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ould be interested in our success after they sign you up. If you get the feeling that they persist in “suggesting” that you keep paying for training and business materials, a warning light should go off for you. Mayb
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e they are interested in making money off of you through your retail purchases and not through your success in the program. You shouldn’t expect a free ride from your upline, but you should be very wary of high pressur
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
e pitches to get you to buy company materials in order for you to be successful.
Stable Company
While there may be something to be said for getting in on the ground floor, these ground floor opportuni
Stable Company
While there may be something to be said for getting in on the ground floor, these ground floor opportuni
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ies are best left to the seasoned professional who is better qualified to assess the viability of a new company. Generally speaking, your are rolling the dice if the company hasn’t been in business for at least 3 years
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
. Most unsuccessful MLM companies go defunct in less than three years. After all if it is a tremendous opportunity at startup, it’s still going to be a good opportunity after year 3 if it is a well run company.
Availability of Mentors
You need to make sure that there is someone in your upline who enjoys that kind of success that you aspire – someone who is living your dream. Further, they must be willing t
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ng>Company Leadership
The upper management of the company must be accomplished and accessible. The bios of the CEO and his management team should give you an indication of the chances for success. Be on the
The upper management of the company must be accomplished and accessible. The bios of the CEO and his management team should give you an indication of the chances for success. Be on the
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ookout for teams who have been parts of several other MLM ventures. This usually means that they have failed at the other ventures and are trying to repackage themselves. Solid business experience in fields outside of
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
MLM is better than several failed MLM attempts. The top management team must be accessible too. If you can’t at least get an executive to return an e mail, you should question their commitment to the representatives.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Availability of Mentors
You need to make sure that there is someone in your upline who enjoys that kind of success that you aspire – someone who is living your dream. Further, they must be willing t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
o help you succeed. These people are important for two reasons. The most obvious reason is so you can learn from them and increase your chances of success. One of the most successful network marketers, Mark Yarnell,
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
epeatedly emphasizes the fact that his first mentor was instrumental in his success in his latest book, Your Best Year in Network Marketing. The second reason that a mentor or role model is important is that they help
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
you to recruit when you’re just getting started. When you first get started, you don’t have the five digit monthly income, expensive playthings, or notoriety to entice your prospects. You have to be able to demonstrat
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
e to your prospects that large scale success is possible and being able to point them to someone in your immediate upline will do wonders for your credibility.
Good Standing with Trade Groups
Trade as
Good Standing with Trade Groups
Trade as
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ociations like the Direct Selling Association make member directories available to the public. You should make sure that there haven’t been voluminous complaints filed with these organizations or the Federal Trade Comm
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ission. There are inevitably going to be some naysayers who post disparaging remarks because no business is going to please everyone. What you should look out for are patterns of complaints and pending cases filed by
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
the FTC.
Personal Finance MLM
Copyright© 2006 John Mielke
Author grants permission to reprint or redistribute as long as article is reprinted in its entirety and in its original format – including operable hyperlinks
Personal Finance MLM
Copyright© 2006 John Mielke
Author grants permission to reprint or redistribute as long as article is reprinted in its entirety and in its original format – including operable hyperlinks
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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