Tweet

What Are the Best MLM Businesses For Seniors - 3 Criteria For You to Contemplate

Written by: Lynn Dorman, Ph.D., J.D.

Article Overview: The myth of seniors sitting at home in their rocking chair is rapidly dissipating, as more and more seniors are becoming entrepreneurs. Today's 60 or 65-year-old is not ready to "retire." And it looks like the 65, 70, [or even 75 and older] are not retiring either - instead many are becoming entrepreneurs. No sitting at home for these active minds!

What Are the Best MLM Businesses For Seniors - 3 Criteria For You to Contemplate

The myth of seniors sitting at home in their rocking chair is rapidly dissipating, as more and more seniors are becoming entrepreneurs. Today's 60 or 65-year-old is not ready to "retire." And it looks like the 65, 70, [or even 75 and older] are not retiring either - instead many are becoming entrepreneurs. No sitting at home for these active minds!

We know that staying active and challenging one's mind with new tasks are ways to stay healthy as we age. What better way than to join a network marketing business where you are the CEO - a sure way to keep the brain cells active!

How do you decide which MLM or network marketing company to join and work with? [MLM and network marketing are used interchangeably to describe the same business model.]

There are 3 important criteria:

• You must love and use the products.
• You must like and enjoy being with the people in your network: locally, nationally and worldwide.
• There must be a good compensation plan.

These criteria of knowing, trusting and liking are the same for all ages and businesses; but as we get older we tend to want a company we can "settle into" quickly so I think they are more highly critical for seniors.

1- Loving and using the products.

When looking at a company you may want to try the products as a consumer before joining as an associate and make sure you love them. Or - you can skip this step if know and trust the person telling you about them - and you know that person uses the products.

This knowing and trusting leads into the 2nd criteria:

2- Liking, enjoying and trusting the others in your network.

Network marketing is a social activity. You have to talk with people and so it keeps one engaged socially as one ages. But it is best for your personal aging if you really enjoy spending time with those in your chosen company.

Attend a few local meetings about the company and the products to see how much you enjoy chatting with and learning from those in the room. If you do join, you too will bring people to meetings like this and many will become your good friends - so this is an important criteria.

3 - Making sure the compensation plan is a good one.

If you are going to put in your valuable time and energy - make sure you are well paid for your efforts.

There are so many variations on compensation plans; you will have to compare one with another and decide what works for you. Often independent sources rate MLM plans and you can look up that information online.

Extra caveat:

Don't fall for the "make money fast" or "get in at the beginning." Network marketing takes work and a good company will be around for a long time and it will not matter when you join.

Related Articles
  Death, Public Speaking, and Seniors' Homes
  Home-based Business Idea: Senior Transportation Service
  Seniors Having Fun on Online Gaming While Reducing Risks for Age Health Issues
  Trends in Seniors Housing
  Senior and Independent Living Fundamentals Decline in Q2

Article Tags: mlm businesses, myths about seniors, network marketing, seniors



Related Forum Posts
Re: Top 9 Franchises for 2009 - Hey Russel, I would be interested to know what the criteria are for the "top" franchises to make the list? I have always read the "we take into consideration a variety of factors that include: growth etc..." lines, but do you have any inside info on what the actual criteria are?
10 best franchises to get involved - I don't think a franchise (or even most businesses) fits your criteria even if you had enough savings to take the risk. Personally, if I were your age and had your aspirations, knowing what I know now, I'd probably look at real estate. Doesn't take near as much money to get your feet wet, and there's nowhere near the risk of most businesses, certainly most franchises. Starting out I'd look at rehabbing houses that I when finished would sell in most places in this country in the $75 - $150,000 range. Bubble or not, there is a huge demand for nice starter homes. I can't think of another business with less downside risk and more potential. The best business could peter out before you're ready for it to. Real estate is forever.
Re: How to choose a Web Design Company - Hi ZekeLL, Thanks for the tips on how to choose a good web design company. However, we all know that the search for an "ideal" one can be exhaustive and time consuming... and chances are none of them will meet ALL of the criteria you've listed above. Are there certain criteria on your list that are more important than others? And would settling for a company that meets 7 or more of the 10 items be "good enough"?
Re: Greybook - Facebook for the senior citizen! - Yeah, I agree to that. Baby boomers at present are the seniors already....so weird, but real.
Re: The Top 50 Get Out of Debt Blogs To Watch In 2009 - Hi Evan, So what were some of the specific criteria required for those blogs to make the list?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Top 5 Qualities in an Outsourcing Company

Ten Things You Can Do To Be a Better Leader

Fear Factors in Small Business: Sales & Marketing

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.