I was approached today about joining a ground floor, pre-launch MLM opportunity. Still debating the pros and cons of making this potential decision, I thought it would be a great topic for discussion on the blog.

Typically, it is a risky proposition to enroll with a brand new, unproven company. In fact, when someone is new to the industry, I do advise against choosing a network marketing opportunity that is less than two years old. Any business is risky when it is new…network marketing is no different. However, there are instances where taking a calculated risk may turn out to be a good business move.

Let’s consider the drawbacks of enrolling with a ‘ground floor opportunity’:

Corporate Leadership may not have effective management and marketing skills

Products and price points have not been exposed to the real consumer world

Compensation plan, if unique in any way, has not been proven in the real world

Marketing materials, web site design, distributor training…quality and effectiveness are not yet known

Manufacturing and distribution channels…anything new has potential pitfalls here

Corporate cash on hand. Is the company well-funded to sustain operations until the company reaches profit mode?

The whole thing COULD be a scam. Real mlm scams are thankfully rare, but they are out there.

What might be some acceptable reasons for joining a ground floor mlm opportunity?

The company is positioned to market, sell and recruit new distributors on the Internet. Traditional warm-market methods are out…Internet Network Marketing is the trend.

The products are in industries experiencing ongoing yearly growth. Industries trending upward include wellness, diet and weight loss and travel.

You personally know and have worked with (or now work with) some of the founding members. Savvy, successful networkers are there for the potential profits. But you may also stand to profit from their guidance, marketing skills and leadership.

Always, always be thorough and do your due diligence before joining any MLM business opportunity, whether it is brand new or established.

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Prepaid Legal Services, Inc., a publicly traded company, reported first quarter 2008 results recently. Not sure if this is just a sign of the times, due to our nationwide economic downturn, or if something within the company or the product line is to blame.
Here’s the story, taken from PR newswire:

“Pre-Paid Legal Services Announces 2008 1st Quarter Membership and Recruiting
Results.

ADA, Okla., April 1, 2008 /PRNewswire-FirstCall/ — Pre-Paid Legal
Services, Inc. (NYSE: PPD), reported new memberships produced and new sales
associates enrolled for the 2008 first quarter. During the 1st quarter of
2008, new sales associates enrolled decreased 16.9% compared to the first
quarter of 2007. Memberships produced decreased by 13.2% while new membership
fees written decreased by 10.6% and our active membership base increased 1.0%
compared to the comparable period of the previous year.
On a sequential quarterly basis, new associates enrolled decreased 28.4%;
new memberships produced decreased 6.6%, new membership fees written decreased
6.6% and the active membership base decreased by 8,843 memberships.”

For more information on Prepaid Legal, visit the corporate website.

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