What do we need to consider when Choosing an Opportunity or Company?
There are so many Network Marketing opportunities today, hundreds of them and it seems every week more are started. At times it can even seem like we are being bombarded with them. How do we choose an opportunity? How do we know a good sound opportunity from a dubious or high risk one?
An old fashioned balance scale has a little indicator that shows which tray out balances the other. This indicator, in Latin, was called an examen, giving us our word 'examine'. To watch this indicator is to 'examine' and 'weigh in the balance'. The purpose of this brief overview is to clarify the three most important things that need to be examined when considering an opportunity. Each are extremely important - the Company, the Products and the Marketing Plan.
The Company
Statistics show that 92% of network marketing companies fail in their first year! 94% fail within 2 years and 99% fail within 5 years! That means only 1 out of 100 survive the 5 year test, that's a lot of fall-out. Unfortunately, this also means that the hopes, dreams and hard work of a lot of people are most often dashed. So often people who really need a break end up discouraged.
So our first consideration in choosing an opportunity, especially if it's new is, - will this company survive when so many fail? Is it sound? Is it built to last? Well, it is extremely hard to know, unless it has passed the test of time. Unless it has at least passed the five year test it certainly is a very big risk. But if it has been around that long, it's not new, it is certainly fairly well proven and sound, but the excitement and advantage of a 'ground floor opportunity' is long passed.
Even though this is the case, if the company is debt free and steadily growing, being part of a successful, growing company with vision is a great opportunity and it is certainly much less of a 'gamble'. The ideal would be the event of an established successful and growing company starting up in Australia and getting in early.
Another very important consideration in accessing a Company is the sometimes difficult task of evaluating the calibre of the people running the company. Are they people of integrity? Do they have a long term vision? Do they have the best interest of the distributors at heart? Are they people of good character? Are they experienced in the industry and professional in their management skills? These and other important questions can be very difficult to assess but an established company with a good track record that has been tried and tested can give us an indication of these important issues.
The Products
The long-term growth and success of a network marketing opportunity is greatly dependent on it being beginner friendly. One very important beginner friendly feature is providing in demand products at a fair price. The more attractive an opportunity is to the beginner, the more likely it is going to be a rewarding long-term winner for all involved.
The best products are the products that appeal to the average person, the average family. Products that don't have to be 'sold', products that preferably most people already need or want. The old adage of 'supply and demand' says it all. Obviously, they need to be consumable products with broad appeal. The right products at the right price. A broad range of products is better than a few 'specialty' products simply because we have a large and diverse market place with many perceived needs and wants.
The Marketing Plan
The compensation plan that is simple and designed for the beginner is essential for success and long term growth. A beginner friendly plan has low cost entry with a good percentage paid on the first 4 to 5 levels so that newcomers are encouraged with reachable rewards. Add to this a plan that also pays deep, ideally without 'breakaways' so that with time huge incomes are possible and you have a dynamic rewarding plan.
Making the Right Choice
You can spend months, even years of expectation and effort building a business that's not going anywhere because the Company, the Plan or the Products were not sound or were lacking in some way. Once you've carefully chosen the opportunity for you, what then?
Staying focused
The vast majority of high earners in Network Marketing have one thing in common, something that is just as important as what we have already discussed. They stayed focused and reaped the rewards. This is not a misguided focus spurred on by constant encouragement from meetings and upline, but a confident focus that comes from a carefully considered decision. Find the company with the products and the plan and then be loyal to a company that is loyal to you. Decide where you want to be in 12 months and stay focused.
Maintaining the Right Attitude
Many people rely on the company, or the product or the plan and others rely on their upline help, all of these are extremely important but every truly successful person knows the old saying well and has taken it to heart "if it's meant to be, it's up to me".
In the end the only person you can count on for your financial future is yourself, so make your number one goal be for you to regularly share the opportunity. Achievers persevere, that's not luck that's a decision, that's determination. Nothing can stop goals being achieved when the right plan is consistently acted upon.
For further information contact, John Knott, 99 Dawn Street, Greystanes, NSW 2145 or Phone (02) 9896 8717
This article has been published in Australian Business & Money Making Opportunities magazine.
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