I was part of a start-up where myself and many experienced networkers really thought we had found the business where we would achieve that walkaway income. Of course, as most start-ups do, it closed down. Two years of putting in my time and resources only to have it close down. Independent Business Owners lost thousands of dollars that they had put into the business. I had been in about 15 other programs but that last one really hurt because the belief was so strong that this was the business where we could all achieve our financial dreams but for many reasons, it imploded.
I decided once and for all, I was going to do my due diligence and write out a list of criteria and really research the next business that I was going to join and I wanted to make that business the last business I will ever have to be in. I didn’t want to jump from business to business as I have seen many others do and I didn’t want to be in a start up because most start ups can’t anticipate the obstacles they have to overcome.
Ironically since the start-up I was in closed down, I have seen many leaders jumping and just recently I have seen them jump again. Don’t jump. Do your research and join the right business and stay with it because there is always going to be some new company where they are going to promise you millions or this is the next best thing only to find out when you join that another company comes out again promising the next best thing. It’s only if you have a huge list of contacts that you can jump from business to business and make money but . . . the flip side to that is people start to lose belief in you because they are wondering if the business they join you in will leave them sponsorless because you’re jumping to the next best thing.
When evaluating a business, here are some points to look for and then see my notes at the bottom as to why I joined the business I joined and why I haven’t found anything better and I’m glad I am building it right now.
Criteria #1: How old is the company?
This is so important. I know, I know, the appeal of a start up is so great because you can be in the beginning of the beginning and make millions but don’t do it. 90% of all MLM and Network Marketing companies will go out of business and fail within the first two and a half years in business. Having a business closing down hurts a lot of people. You should be looking for a company that has been in business no less that 5 years. Then you’ll be stacking the odds in your favor. Side note: I am in a proven business that right now has a ground floor opportunity. It’s no risk because it’s not a start up but you have a start up opportunity.
Criteria #2: What is the Unique Selling Point
You may find the company has similar products but they offer something other companies do not or they have a product that is called “a category breaker” meaning it has no competition. For instance, I just heard someone jumping to yet another new juice company and it has a high quality Superfruit juice but it’s a 1 product company and it’s competing with the Acai and Mangosteen, etc. It doesn’t offer something unique. Also, take a look at what is unique. There is a nutritional company that was a failed nutritional company but was recently purchased by a famous person. It is unique because they do testing to see the nutritions you are lacking but Rod Cook has seen it time and time again that these companies don’t work. If you don’t know who Rod Cook is, then subscribe to mlmwatchdog.com. He has an impressive reputation and many years in the industry.
Criteria #3: Can you be passionate about your product?
There are some network marketers who will say that doesn’t matter. They’ll look at the compensation plan and whether or not they can build it but again, I say, don’t do it. If you believe in the products, you’ll believe in the company and in building your business. It will show through when you’re talking to customers or prospects. Make sure you find a company that has a phenomenal product(s) that is backed by scientific proof and testing and that they are high quality products.
Criteria #4: Compensation Plan
Okay, I did say you have to believe in the products and I’ve heard that it’s a good product when you want to buy the product even if you’re not being compensated, but hey, this is a business. You want to understand the compensation plan. If it falls below a total of 20%, then it’s not worth your time and energy to get involved. I know, I know, there are some that have great marketing plans attached to them like populating through Facebook, and that may be fine for immediate income, but I am looking at a real business that is going to be my walkaway income. When I selected the business I am in, it was to select a business, not a hobby. Also take a look at how many people you must enroll to begin earning income. The lower the number the better. In a future blog, I’ll discuss the different compensation plans from the breakaway to the matrix to the unilevel to the 2up to the perpetual leverage, binary and more.
Criteria #5: Reputation and Integrity
This is so important. You can have a business that is fantastic but if the leadership does not have the reputation and the integrity, it’s going to start to collapse like a house of cards. You’ll find it difficult to bring people in or customers and even more important, you don’t want to be involved in a business that does not have a good reputation. Search on the business in the BBB. Search on the owners. Don’t be fooled by some of the results in the internet. So many internet marketers nowadays use the word scam to put down one company and say why their company is the best. Just do your research and make sure it’s a company that you want to be a part of and that you would want to recommend to others.
Criteria #6: Saturation
What is the competition? How available is the product? Where can it be sold? Can you get something similar at your local store? It’s okay to have some competition but too much is not good. For example, energy drinks are VERY competitive.
Criteria #7: Policies and Procedures
What are the guidelines for marketing? Can you use your own websites? One of my friends was in a business and they could only use the replicated site – there wasn’t a way for you to brand yourself. Another company that I was in would not allow us to use marketing material unless they approved it and they make it difficult to get it to them and then it would take weeks before approval.
Criteria #8: Marketing
Does the company have a marketing system. Many companies have teams that have their own marketing but it is much more powerful when it is company driven. Would you want an infomercial run by a team or would you want an infomercial that is run by a 38 year old media company with programming in 200 countries? hmmm
Criteria #9: Publicly Traded or Privately Held Company
I am including this as a criteria because some network marketing companies make a big deal about this. There are pros and cons to this. For the publicly traded, of course it’s great because you get to see all the financials. But the bad part (and pay attention here), is that they are more slow to make decisions and more focused on serving the needs of their shareholders than their consultants. Whereas with the privately held company, the owners are free to plan long term without concern for short term gains for stock holders. However, this goes back to Criteria #5. Make sure you research the owners and the company to ensure their integrity and reputation.
Criteria #10: Sponsor or Recruiter
This is important. If you find all the criteria above have been answered to your satisfaction, the next question is do you want that person as your sponsor. I always believe in keeping with the person who contacted you first. It’s just network marketing etiquette and I know there are some network marketers out there who would scoff at this but I still abide by it. But are they a sponsorer or a recruiter? A sponsor is someone who takes the time to help you be successful. They will motivate, coach and train you. A recruiter is someone who just keeps signing up people. As the saying goes, they throw them against the wall to see who will stick there, and in some cases, abandons them. In the last business I was in, I had many people from the downline calling me because their sponsor(recruiter) had deserted them.
The next thing to consider is what your sponsor can supply that will assist you in building and training your network. What kind of welcome or training package will you and your downline receive? Does your potential sponsor provide a newsletter, advertising help, training and promotional materials, or advertising? Do they have a proven system that you can follow? There is no reason to reinvent the wheel if the material is already created.
I hope this information helped you. I joined TriVita and it met all of the above criteria and more. I think what I really love about TriVita besides the integrity of the company, the fact that they are aligned with top hospitals and universities to do independent testing of their products, and their products have a less than 1% return rate and are high quality products, and their new product Nopalea that is a category breaker, is the Cooperative Marketing business model. It evens out the playing field so everyone can have success even if they’re not a sales person. You can acquire customers from the company (and the company follows up with your customers for you at no cost to you) and very soon they are going to have infomercials on their new product AND the opportunity where you can start for just $35.00. WOW. Talk about duplication!
If you’re interested in finding out more, go to: www.sixfiguresthisyear.com. Either way, I hope I helped you in any decision you make and I wish you the best of success and good health in your endeavors.
Kathy
Katherine Smith, Independent TriVita Affiliate Member #13158176
