HerbaLife Review: Do The Reps Really Have What It Takes?
Herbalife As A Business Opportunity
Herbalife may be the first brand that comes to one’s mind when thinking of networking companies. Considering that the business has existed for quite some time already and that numerous people have given positive testimonies about this brand, it gives us more reason to be convinced that Herbalife is a major player in the industry.
Being in existence since 1980 and having annual revenues of around $3 billion, a company like Herbalife really grabs some attention since not many companies have managed as well for themselves.
Although the image seems promising, like every other big company, Herbalife too has had its share of problems. There have been some glitches in the product area, and more in the people arena.
Nevertheless, the company has survived, and is seemingly going strong.
Tainted Image
Many existing Herbalife distributors have already experienced this: presenting the networking opportunity to someone who literally asks if what is being presented is Herbalife; even before the program is discussed, then immediately having no interest.
Moreover, the products have also had their share of problems and criticism.
Some people perceive the market for Herbalife products as being already heavily saturated thus; they think that the products would be very hard to sell. This issue becomes even more relevant if you are going to operate in places where Herbalife has been operating for a long time and where competition is very visible.
The Industry: Competition
There is no denying the fact that the wellness industry is growing at a rapid pace. As predicted, the industry is currently rolling in more than a trillion dollars, as today’s generation seeks to look and feel good at the snap of a finger. (Or a popping of a few pills!)
With this kind of growth comes the intense sort of competition. Thus, one can find diet and natural supplements almost everywhere. They are at your pharmacists’ store, at your grocery store and even at your doorstep. The problem that a company like Herbalife faces in a situation like this is the pricing. Almost all competing products are priced at rates lower than Herbalife.
While it can be a valid argument that Herbalife is a unique product, the difference in price between Herbalife and other products in the market is something for the market to consider.
Compensation Issues
The typical compensation plan for Herbalife would require you to buy and sell around $2500 personally each month for you to receive your full royalty. With selling becoming increasingly difficult given the product overdose in the market, this pay plan has received a lot of criticism.
Moreover, many other networking companies are now offering much better and lucrative pay plans for their members.
The Training Program
Training usually is considered the make or break factor for network marketing companies. It is the training programs that can motivate your people and keep them in tune with the business and the team. For the members, training programs are the best places to acquire business acumen and go on to help the company grow and attain some personal financial goals.
However, there seems to be a problem with Herbalife’s training process, as with other companies. While the earlier door to door salesmen seemed to have done a decent job, there is a bit of chaos in the way Herbalife is predominantly being marketed and sold now.
So the key to being part of the Herbalife culture and succeeding in it is discovering HOW to market oneself and not so much the company. With a 30+ yr old company…Herbalife is established. It is each distributor that must be differentiated and that will only come with gaining the proper marketing training that unfortunately is not taught by the company.
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