Choosing the right business opportunity for YOU is the single most important decision you can make when it comes to building a SUCCESSFUL home based business or network marketing income opportunity. You’ve heard it all before…EVERYONE has the best opportunity ever known to man but are they?? Really?? I’m going to share with you 5 Pillars of Success Factors that you should be looking for when deciding which Network Marketing Opportunity is right for you, or if the Network Marketing company you are researching has a good chance to succeed. I will also introduce the question of “why” you should even consider starting a home based business.
I get approached all the time about different opportunities, and I will give you MY insight on why I turn things down, or take a closer look. I’m going to start recommending different home based businesses based on my opinions, years of experience studying trends in the marketplace, research on the network marketing companies, and give you FACTS about increasing your odds of success in your new business.
The first thing you should ask is “WHY??” Why do I want or need to start a home based business? Without a CLEAR “WHY” the odds of you succeeding are very small. True success is larger than just getting out of debt, taking a couple of trips, etc. Your “WHY” should be something that moves you to a different place permanently in your personal and professional life. I talk to people everyday that “want” more, want to change their life, but they have no desire whatsoever to do anything about it. I don’t work with them, and neither should you. I can’t want success for a person more than they do, so make sure and establish their “why” first.
Secondly, you should consider your passions, your purpose, your income goals, and whether or not you can see yourself truly marketing and yes even selling your product. Network Marketing IS sales, BUT its all about exposing your business. Some will say the products sell themselves, but without exposing the opportunity it won’t ever generate a profit. Expose your business 3-5 times a day, and watch your business explode! Remember though, without passion or purpose, and belief in what you are selling, you WON’T expose your business. A Network Marketing business can be simple to build if you have the right company, products, compensation plan and success system to follow, it’s just not always easy. A friend of mine Adrian Farray shared a quote with me and it says “When your passion becomes your purpose, success is the only option!” Figure out what makes you tick, choose an opportunity that is in alignment with those core beliefs, and GO FOR IT!
How to Spot a Great Network Marketing Company
Now let’s discuss the 5 Pillars of Success factors I mentioned earlier. Does your company pride itself on integrity, credibility, and ethics? How many of your actual clients and customers will back this as the truth? If you answered not many, then you would be absolutely right. Having a business that deals honestly and ethical sometimes seems to be a thing of the past, but, there is hope. In order to spot a company that has these three key qualities, you need to educate yourself.
Success Pillar number 1 is the company a rock solid company with a solid Founder/ CEO or Executive Team at the helm. Remember, everything rises and falls on Leadership. This is critical for the long term stability and sustainability of a company. The Executive Team needs many years of experience not only in the field but how to run the company profitably. Many times a rep will come out of the field and because they were a successful field rep they think they can run a company. In reality, they were good reps, just not good at running a major corporation long term. Make sure the Executive team is rock solid, has many years of experience, is full of integrity and has a history of making good decisions.
Success Pillar number 2 is the timing in the company and timing in the industry. How long have they been in business? Are they in the pre-launch phase of the business? It’s a fact that most start-ups fail within 2 years. It is so important to look around and see if the opportunity will be right for you. Do not skim over the timing in the industry. Is the industry growing? What is driving the industry to grow? There are so many start up companies that come and go in this industry. About 1 out of 300 companies actually make it long term so you better do your homework. Many companies use emotional hype, that is, “get in on the ground floor” to entice people to join their company. Only to find out before the end of 1-3 years the company is out of business. I would make sure they are part of the Direct Selling Association. These companies have proven to pass the DSA guidelines and typically are more stable companies. I prefer companies that are at least 3 years old if you are looking for a stable company to build a long term income from.
Success Pillar number 3 is a remarkable product. You have to have a really great product that stands out. Find the product that lots of people can use, and consume, and fall in love with that product. Are you selling a product that has only one time sales? If you do, your money is made from recruiting other people. You will constantly have to bring in new sales all the time. Stop listening to people who tell you that you have to believe in the product. You don’t have to believe in the product to sell millions of dollars worth. Sell what people want.
Is your product something people will buy if there was not a compensation plan attached to it? You need a product that people will buy whether or not you have a business opportunity to go along with it. Think about it…if a product wouldn’t sell at Walmart, Online Stores, or anywhere for the price they are selling it for, it’s not going to sell longterm in a Network Marketing company either. Do people pay $2 for a cup of instant coffee? $35 for a bottle of juice? Just my opinion, but if you are in a company, where most of your money is made recruiting people, you are doomed for failure. If everybody is recruiting, nobody is buying or consuming product.
Pillar number 4 is compensation plans. You have got to have a compensation plan that pays the part time worker. If the person sponsoring you tells you that the company is making millions of dollars that just tells you that most of the distributors aren’t making a dime. Most companies pay five percent to the lowest distributors, fifteen percent to the middle ranking distributors, and thirty five percent to the top ranking distributors. When you build an organization seventy five percent of your people will be product users only. Use a comp plan that takes the least amount of people to make the most amount of money, or one that has tremendous market potential across the masses.
The top three percent of the people will be the ones that make most of the money. You will need to crunch the numbers to come up with how many distributors to make ten thousand dollars with. Make sure you know how much money you will make. If you would not go into a regular job and not ask how much time you have to put into the job and how much money you will make, why in the world will you do this with an MLM or network marketing company? Folks do yourself a favor and crunch the numbers so that you know how many people you need and how much time and effort you will have to put into the business.
Retention is part of the comp plan you should analyze as well. If the auto-ship is high, retention (in this economy) will be low. If I was choosing today, I would choose a company that has either a low autoship, or an extremely high value proposition for consumption. Is the product something many people are already using, paying similar prices for, and replacing those costs through the network marketing company? Is it a first to market product? Many first to market products can have tremendous success through Network Marketing because of how the industry actually educates people about the products.
Success Pillar number 5 is having a proven duplication system that will allow your people to duplicate the system after you quit building the business. If you are building a global business, then make sure that it is a seamless global system. Remember, S.Y.S.T.E.M. stands for Save Yourself Stress Time Energy and Money. You want to be part of a company or organization that can tell you from Day 1 what EXACTLY you will need to do to get started. A good system will help start you right so that you can finish right.
Learn how to fish rather than being given a fish. You need to know how to advertise as well. The business that you get into, whether it is an MLM or a network marketing company, has to have a proven duplication system that anyone can do. Will the average person be able to do this? This is a question that you will be asked by people who are just learning the industry and are in need of answers. You will have to be able to give these people something to work with.
Most people who join MLM or network marketing will be part timers. With that said you already know that you will need to provide them with the tools which will allow them to easily learn and then duplicate what they have been taught. So how do you do this? This is an easy question to answer. You give them the system that they can do with the least amount of time doing it.
You need to be able to put them on the phone with five to maybe twenty people who have used the system and have had great results. Folks if you can’t do this than you are toast. People want to be guided by others who know what they are doing. Be prepared to talk the talk and walk the walk. A proven duplication system is pillar number five. Your lack of success is not your fault. It is not your fault and you are not a loser. You just didn’t know that the cards were stacked against you.
In order to get the skills you need to educate yourself, you need to get involved with a successful group of people who are working together to build their business. Take the time out and learn the skills needed to own your life.
Wishing You Wealth and Abundance
In closing, there are literally thousands of opportunities out there, many of them very good, some are just plain silly to be honest and no one will take you serious. Take the emotion out of it, make a wise business decision to see if it meets your personal missions and objectives, and commit to exposing it to as many people as you can. If you are out of work, lost your job, seeking immediate income or a career change, and you are ready to WORK with a ton of passion and desire, I’d love to hear from you. There IS a way out, a good chance you can change your life, but in order to “Change Your Life, You have to CHANGE Your Life!”
PS: If Your Success Team Does Not Have a Step-By-Step Blueprint For Success, Check This Out (Unless You Already Have Too Many Leads) – Click Here For Instant Access
5 Pillars of Success
5 Pillars of Success
5 Pillars of Success