So, you have decided to Take Charge!
You are giving yourself a raise, or testing your Entrepreneurial Talents out.
Whatever the reason is, you have decided that Network Marketing is the right option for you.
Should you jump at the first opportunity you are presented?
Should you work with your brothers cousin because he is doing it?
There are many Network Marketing Companies that will offer you an excellent way to develop success, some that are less stable, and some which are somewhat questionable. This is much like the corporate world.
Any promises of sit back and earn, or get rich quick, should be a red flag to you.
We took time to evaluate these areas in the organization we are with, even after we had a fantastic product experience.
You may be familiar with these questions from when you were job hunting, but now you are hunting for an Entrepreneurial Opportunity.
1- How long has the Network Marketing Company been in Business?
Approximately 90% of start up Network Marketing Companies, like most business start ups, fail within their first 2 years. You are looking for a long term opportunity, and time to grow with the organization. So, one that is older than 2 years is a good start.
2- How Solid is the Organization
- Who is in upper management?
- Who are the company founders?
- Do you like and trust these people?
- Who is developing the products or services?
Most companies will have faced some disgruntled clients or workers at some point in time, so, check it out. But are the associates paid, products delivered, and is there good customer/associate support provided?
3- Evaluate the Product or Service
- You will be recommending this to your network, so, do you use and like the products or services that you will be promoting?
- Do you see a need in the market for the products or services?
- Does your product or service meet this need with a quality solution?
- Is this product or service priced to sell against any competition, and is it priced to make a profit?
- Is this product or Service a Fad or Trend?
If you cannot answer yes to these questions, look to other opportunities. We love the products we take and promote, and were able to answer yes to all these questions.
Also consider this: How frequently is the product or service purchased, or replaced?
4- Are the products or services Patented, Proprietary, or Unique to the market?
This can be a distinct advantage as you compete for customers, and new associates. You will Stand Out from the crowd when you position it.
5- The Compensation Plan
You will have to meet with associates within the organization that you are considering to get the full details of this plan, but can attend business briefings to get an overview.
- From this plan, will you be able to get a full return on your initial investment quickly?
- Can you be in the black monthly in a short time span?
- With some activity on your part, and time, can you generate a good part-time income relatively quickly?
- If you commit more time and effort, how much potential income can you make from a full time effort?
6- What support does the Organization offer you?
- Is there a good Website with a Back Office for you?
- Is there a great website for your clients to log on?
- Is there an App to share product information or track your business?
- Does the company offer you good training to help you build a solid business for success?
The Choice is Up To You!
You may in time even change companies, and this is one of the reasons to Brand Yourself. I will cover the steps to Branding Yourself in a future post.
With over 700 companies to choose from, there is something for everyone.