Whenever I hear that another network marketing company, or MLM, has closed its doors for good, I’m always sad. I’m a BIG believer in this business model and in how it empowers average people to have opportunities and incomes that they could only ever dream about!
There are many people who absolutely hate MLMs, and if that is you, I would invite you to pass this post by. It’s definitely not for you, friend. 🙂 I’m writing to give hope to those people who feel hopeless after their company calls it quits, especially those who’ve worked in their company for MANY years.
I see you. I feel your pain, and I hope these twelve tips will inspire you to move into the next phase of life with confidence! And please understand that I will be sharing about my network marketing company because, well, I’m a HUGE fan of our products, company mission, and compensation plan!
Let’s get started!
#1 | Pray immediately!
If you’re like me and you are the praying type (but if you’re not, I encourage you to give it a try), then stop what you’re doing right now and talk to the Lord. He is the creator of the universe – this trial you are going through is miniscule compared to what the One who spoke the stars into existence can do. Give all your worries to Him, today!
#2 | Contact your people
Whether you’ve been building your business for a week or for several decades, gather your list of clients, customers, and downline members, no matter how big or small the list may be, and communicate the upcoming changes. Tell them something big is on the horizon for you, and you will keep them posted about what that is. Keep your passion and enthusiasm up – no one will want to follow a Negative Nelly or Debbie Downer! #justkeepswimming
Find out all the final details from your company and pass that along as well. There might be sales or housekeeping things your people NEED to know, so keep them in the loop.
#3| Resolve your accounts
This step may not be necessary, and hopefully it’s not, but if you have ANY outstanding debts or resolutions, take care of those immediately. This might even include interactions between you and a client. Dealing with a company closing can be frustrating or even embarrassing, but just do your best to stay positive and take care of any loose ends. #yougotthis
#4 | Don’t lose your rewards
Most companies offer some sort of incentives or rewards for loyal distributors, so if you have racked up any rewards or points, NOW is the time to cash them in. Don’t wait until the last minute because the company could shut down the program (I have sadly seen this happen).
#5 | Sell your stash
If you have an overflow of products on hand that you just don’t need anymore, then now is the time to have an awesome destash event! Start a private Facebook group, invite all your customers, friends, and family and have a flash sale – dropping prices as low as you can to move product!
Take the profits from this sale and save it for later!
If you don’t want to sell anything because you love your products and use them daily, skip this step and move on to the next one.
#6 | Take advantage of “going of out of business” sales
If you’re like me and are a die hard fan of your company’s products, then you will definitely want to pay close attention to any last-minute sales they might have. Sometimes prices can drop 50% or more, so be diligent about staying abreast of your company’s news.
Here’s an important thing to think about as well…
It’s very tempting to purchase a LOT of discounted products during a final sale thinking you will sell it later, but this is super risky! Other than loyal customers like yourself, many people will not be overly interested in purchasing products from a failing company. Just get the things you really want, and get out.
#7 | Save your last check or two
If you’ve been in network marketing for awhile now, you are most likely a big fan of the business model. So you’re probably going to be looking for a new company to join very soon (maybe you’ve even started researching, which is very wise). If that’s the case, be sure to set aside one or (preferably) more paychecks to get you started in your new company.
The best thing about most MLMs is that it doesn’t cost much to join, but you’ll definitely want to know what that investment is going to look like. And you’re going to want to have enough funds to get started right. You’ll probably want to be able to qualify to earn commissions right away as well, so having enough money in the bank to cover your first few months of orders is pretty smart!
To give you an idea what that can look like, I am a builder with Young Living Essential Oils, and my only monthly commitment for my business is about $100 or so. It’s such a small overhead, and because at home we personally use the products we purchase each month, it’s an easy thing to budget for. So save those checks, and be ready to use them on new and better things!
#8 | Research other companies
I’m sure you have already started doing this, but it’s really important you look at some key components with each company. First of all, most companies that close do so in the first five years, so find a company that has been in business for while. Although this isn’t always the case, it’s a good place to start.
Next, look at the products. Are they high quality? Do you like them? If so, could you see yourself recommending them to others? Don’t write off a company if you don’t really understand their products. They could be the perfect fit, but you’ll never know unless you dig in and learn more.
Lastly, thoroughly dig into the company’s compensation plan. Some plans are more complicated than others. Don’t get scared away! I have found, sometimes, the more it appears complicated, there are actually more opportunities to earn. #showmethemoney
In Young Living, not only is our compensation plan super generous, but we also earn rewards points AND freebies, all in the same month. This is just for ordering monthly in order to get our commissions. And the best part is that even as you rank up, you still only have that $100 monthly commitment! Yes, even at the very top!
Not every company has an income disclosure (not really sure why not), which tells you what the average person at each rank earns, but WE do! You can check it out HERE. I’m currently an Executive, so you can get a rough estimate as to what I bring home. I’m still working this business hard though, and mark my words… I won’t stop until I’m Royal Crown Diamond (RCD)! #joinme
So, obviously, I LOVE my company, but really, you just need to find something that feels right for you! Maybe it’s Young Living, or maybe it’s something totally different. Find what makes you feel passionate and what products you feel with help change lives!
#9 | Weigh the pros and cons
So this is basically a follow-up to #8, but once you find a couple companies that feel right to you, make a pros and cons list. After writing that all out, prioritize all your points with some sort of ranking system. Maybe company A has 10 pros and only 1 con, but all the pros are low ranking. Company B, however, has fewer pros, but they are VERY important to you.
After looking at both lists, pray again for guidance on making a wise decision. It’s possible that neither would be a wrong choice, so you could even reach out to people working in those current companies and pick their brains. See if they have any other pros and cons to add to the list that you didn’t realize or think about.
#10 | Make a decision and sign up, when you’re ready!
So you’ve looked into lots of companies (including Young Living, right? wink wink, lol) and you’re finally ready to make a decision. The big question is WHO should you sign up under?
Find someone that is passionate about their business, but also someone who feel you can work closely with. Research shows that people that work alongside a friend in network marketing, get amazing results.
I’m still in the early stages of business, but I love working with people who not only love to joke around and have fun, but those who are insanely creative and love all things business. Isn’t work WAY more enjoyable when you LOVE with you do? Since starting my business, I have loved every minute of it, but it’s always more fun to work with like-minded people.
#11 | You’ve jumped into a new company, now what?
The very first thing I would do, before digging into all the new information your company offers its builders, is contact your followers – your past clients, customers, and downline members. They may be scared and unsure of what to do next. You’re their leader, and you’ve done all the work of researching a new company, so now’s the time to share your knowledge with those you care about and who deeply care about you.
I have found that live videos are always the most genuine. People can see the pain you’ve endured as well as the passion you exude for the journey you are now on. Show them what you’ve learned, and help lead them to their new venture.
#12 | Get to work!
I joined Young Living back in July of 2015, but I didn’t start building a business until the end of 2017! It’s not because the business side of essential oils is weak – quite the contrary. Business is booming! Our company is one of the fasting growing in the world!
I didn’t start building a business right away because our company is all about the products. We don’t focus on recruiting because our goal is simply to get essential oils into every home. Once people (like me) start consistently using their products, realize the life-changing benefits, the next natural step is to tell everyone their story. It was when I realized I had a story to tell that I started my business.
You’ve joined your company, now it’s time to get to work! Sift through every file in your back office, read through every book and resource you can get your hands on, start following the companies top leaders on social media, watch every YouTube video your company puts out, and be wary of nay-sayers. Everyone’s a critic, right? No company is 100% perfect, so try to avoid those people who enjoy sowing seeds of hate into the world.
So that’s it guys and gals!
These are my twelve tips for getting you through this tough transition! My heart hurts for you, it really does. I can’t imagine the panic and hopelessness this situation has caused, but know that God has a plan for you! Maybe it’s you reading this blog post, reaching out to me, and letting me show you what Young Living has to offer.
Or maybe it’s something else entirely, and that’s OK. Just know you have a compassionate friend in your corner, and I am happy to chat with you or simply pray for you.
If you are interested in learning about Young Living’s income opportunity, fill out the form below with your info and any questions you might have, and I’ll get back to you as soon as I can!
If you are ready to jump into the amazing world of essential oils, I’d LOVE to help you get started today. Simply follow THIS LINK and purchase your starter kit. It has twelve of the highest quality oils in the world, plus a beautiful diffuser with 11 awesome light settings. It will be the easiest and smartest $165 (plus tax and shipping) you will ever pay PLUS you will be a member of the Blue Crew, our team community!