There are many different ideas on how to choose the right network marketing business. In the network marketing world, your success will depend on your mindset. Multilevel marketing will create the strongest base for your work-from-home business. Once built it will provide a residual income that can be maintained with minimal effort, and if you choose your company wisely, it will allow you the time flexibility to pursue other interests–whether those interests are other business ventures, or simply comprise a pleasurable lifestyle.
You might think that choosing the right company will be easy. However, actually building your business will likely prove to be more difficult. Because it will require sustained effort, focus, discipline, and good marketing skills to accomplish, many businesses fail. The rewards for buidling successfully are great, but choosing the wrong network marketing company may make all of these tasks impossible from the start.
If these qualifications already look scary-you may want to reconsider your goals. If you’re still reading, though here’s the first step. You’ll want to make a list of several companies to investigate.
Start by listing any companies that look interesting. Search Google and you’ll find many that may be a possible base for your business enterprise. Not all are created equal, however. Some, after investigation, will not be workable for you. Your “due diligence” must include the following list of considerations:
How long has the company been in business
Does the company have a good reputation
Does the company provide products and/or services that are in demand
Does the company do business locally, regionally, nationally, internationally
Does the company have a good compensation plan
After your investigation, how do you feel about the company and its products/services
There undoubtedly will be many other issues you might want to know about before choosing a particular network marketing business. Your investigation into each company on your list may be long or short depending on the things you find. The issues listed here, though, are elemental. They form the basis of your confidence level. If you are not completely convinced the company and the other issues listed are the best for you and your customers, I promise you your business foundation will be as strong as you want it to be.
Keep your overall goal in mind: build a strong foundation. To do this, the first item on the agenda is crucial. The last is a general feeling of the entire list as a whole entity. So start at the top. Go methodically through the list until the company your checking no longer meets your needs.
During your investigation, don’t fall for sales pitches. It’s amazing how many people think a “ground floor opportunity,” is the holy grail of business. It’s not. “Just starting,” “pre-launch,” “look at what XYZ company did in just 3 short months,” are emotional hype. More than 80% of new businesses FAIL in the first 5 years. Every new or young business is up against this statistic-no matter what. You owe it to yours to decide, as unemotionally as you can, what risks are worth taking.
If you want to trust to “lady luck,” I suggest you buy a handful of lottery tickets. Or better yet, take a vacation in Las Vegas. You probably will lose some money, but at least you can have a good time while you’re there.
In network marketing, under-capitalization the number one reason business close their doors. In your investigation, you may hear how much money some of the investors put up to start the company. You may hear about how many previous companies the founders have set up. You probably will hear a long line of sales page verbiage about how “visionary” the found is. Vision does not always lead to success-it’s a synonym for “idea.” Have all of yours panned out? Believe me not all of a “visionary’s” ideas work, either. Don’t get emotional-it’s business.
If the buusiness you’re looking at has a proven track record-it’s been doing business more than 5 years and is still growing, it probably gotten past the capitalization issue. Then look at the next item on your list. I know it will be tempting to get wrapped up in the products or services, but if the company is not going to stay in business, there will be a lot of angry customers-you probably don’t need to be the focal point of their frustrtion. When you get to the last item and all the others have acceptable results, keep the company on your list and move on to your next investigation.
Once you’ve finished looking into all the businesses that looked good in the beginning, you’ll probably have a small number that still are acceptable. Now you can decide from among those, which you really have the best feeling about. At this point, feelings and emotions, will be of benefit in building your belief level. Believe you have chosen the right network marketing business and your foundation will be strong.
More information on how to choose the right network marketing business is here. As Creative Marketing and Business Strategies Consultant at The Eighth Choir Media, Les Leslie shows people how to successfully start and operate home based businesses.