We are currently transitioning into the new era of Direct Selling – the eCommerce era. Most Direct Selling, also known as Network Marketing or Multilevel Marketing (MLM) companies, do not start with the intention of closing. But Direct Selling companies are known to come and go over time – yes, even great Direct Selling companies. Successful companies also have their lifespan, which is okay if they close genuinely – usually, they will keep their investors informed about their decision. But some companies start in the guise of MLM companies using the illegal Pyramid business model and vanish in no time after duping their investors. This write-up discusses how to cope when your Network Marketing decides to close.
Give Yourself Some Time to Recover From the Grief
When your Direct Selling company closes, you also lose the opportunity to continue your business, and your income stops. That’s a sorry situation to be in. But you need to keep your cool; you need to give yourself some time to absorb the setback and come to terms with reality. Taking a break can sometimes refreshen you. During this period, you can list your self-care priorities and fallback mechanisms for the future. Do not let the circumstances take hold of you; surround yourself with positive people, and consult healthcare professionals to keep you physically and mentally fit. Keep your basic habits intact: proper sleep, proper diet, and regular exercising can go a long way in reducing your stress.
Ensure to Complete Pending Commitments
You may have customers whose orders are pending to be delivered, and you may also have team meetings or parties scheduled. Once you learn about your company closing, it is advisable and should be an ethical move on your part to tie up those loose ends quickly. Assuming you have made an informed decision in collaborating with your Direct Selling company, it is unlikely that they are closing down abruptly and have given you sufficient time. You may verify their policies and procedures to complete pending orders, or giving refunds against unused gift certificates, and so on. In the meantime, always keep your customers updated and informed. It will prove your responsibility towards them and, in turn, even generate more trust in you. There are good chances; these customers will remain with you even in your future endeavors or business.
Keep an Eye on Competitor MLM Companies
There may be a valid reason for getting frustrated with yourself after your company closes, and it can even make you lose interest in further home-based businesses. However, it would help if you kept in mind that you already have a loyal customer base. Therefore, it is good to have an optimistic view and look out for your business competitors. You may even come across some Direct Selling companies that offer out-of-work Direct Sellers with free startup kits or at discounted rates.
Work Out Ways to Create Cash Flow
One of the biggest concerns when your business discontinues, is keeping cash flow running. If you also continued with your traditional nine to five job as a Network Marketer, you may not have to worry. But having no other means can be bothersome, at least temporarily. To alleviate this financial stress, you may have to cut down on non-essential expenses or even consider taking up a part-time or temporary assignment that can help you earn.
Conclusion: Choose Your Direct Selling Company Wisely to Avoid Setbacks
You need to choose a Direct selling or Network Marketing company after making an informed decision. It is important to ensure that the company has been in existence for at least five years and complies with all government rules. You must ensure that the compensation plans of the Multilevel Marketing company are to your satisfaction. However, despite ensuring all of it and ensuring the company adheres to all rules and regulations, unforeseen circumstances may arise compelling a company to close. Now, being with a genuine and reputed company has its advantages. The company will always keep you updated and informed about their closing plan and give you sufficient time to cope with the decision. If you land yourself in a situation where your collaborating company decides to close, the above discussion will help you cope with the setback and stress associated with it. All the best.
