Would You Like to Know the Criteria For Evaluating a Network Marketing Business
When evaluating a Home Business Opportunity, what criteria should a wise person use. There are literally thousands of home based businesses in America.
How can a wise person select? We hear every day, "I have tried a home based business (or network marketing business) and it did not work". Why did it not work??? Unfortunately most people do not apply sound principles in the selection of a business--and most who want a better life by operating their own business have little or no business experience. An Independent Business Owner must realize the importance of self improvement towards the success of their business. They should invest in their own home business, but not left to build and manage it alone. So how should a wise person evaluate and select the right business?
Let me suggest the business matrix that many of us have used to find the best home business opportunity.
1.) The business must be in an expanding market industry.
2.) It must have a unique product.
3.) The product must be easily consumable.
4.) The compensation plan must be formulated as leveraged.
5.) Impeccable experienced management team.
6.) Training and support are essential for self and professional improvement.
.
1.) What is the number one expanding market industry in America today?
Health Care. It is not the oil industry, the auto industry, real estate or manufacturing industries. The reason it is health care is obvious:
* People in America are so over medicated, each desirous of immediate health results.
* The baby boomers (born between 1946-1964) at the leading edge are now entering their 50 's , and desire a healthier, more active life as they grow older.
* Every 7 seconds someone in America turns 50 and this will continue for the next 18 years.
* These baby boomers consist of 1/3 of our population.
* There are many start-up companies in the past 2 years with products claiming to be in the health care industry and even more mature companies trying to compete in this industry.
2.) The company must have a unique product with efficacy. Not just a product in the health care arena:
* It is a product that cannot be obtained in or through any other channel such as retail stores or eBay.
* It is a product that is dissimilar to all others.
* It is a product that provides to the consumer what they want.
* It is a product whereby the consumer must return to the same source each time.
* It is a product where its company can prove its efficacy.
3.) The product must be consumable in a convenient form:
* There are pills, potions, ointments, capsules.
* There are prepaid legal, telephone ideas, vacations, candles, cookware, advertising, and every conceivable consumer product.
* One of the most convenient products and easily consumed by people of all ages is fruit in liquid form.
4.) In most traditional businesses income is based on experience, longevity, seniority, position.
* The owner or president of their own company works the hardest as he/she has the most to gain.
* Employees usually do not have the same devotion.
* J. Paul Getty a billionaire said he would rather have 1% of 100 people’s efforts than 100% of his own. Why? Leverage!
* A compensation plan must provide for leverage. If you are the owner of a business and hire one employee you now leverage your income--you also leverage your personnel problems. A real estate broker contracts with real estate agents and both benefit from the sale of real estate--but only the broker is leveraged.
* In most network marketing businesses income is based on leverage. You make more money as your partners success increases, with your guidance and support.
5.) The management team must have extensive specific experience in the area they are leading.
Often the management of hospitals are medical doctors, most are devoid of management experience. This is too often the case in traditional businesses. The management are family members, or politically selected, or the one with the greater financial influence and not in the field of personal experience.
6.) Leadership must have a hand in supporting their partners byrecommending self-improvement and professional development training. This can be accomplished through books, DVD 's , CD 's , online webinars, conference calls, events and seminars. Leadership gets rewarded financially when they participate in their partners' success to grow towards higher ranks and levels by improving their skills through the various available resources.
Now look at the home business opportunity you are considering and evaluate it on the above 6 principles. It should meet every one. There are very few other home business opportunities that do meet these criteria. Just realize this journey can take years to achieve. Set your goals and work towards achieving them, and don't give up! The right Network Marketing Business should be the vehicle that can take you to financial orbit with great satisfaction!
Information for the above article was provided by my partner Jim Moore, Ph.D., Independent Distributor (Retired Professor of Business at Denver University, retired Brigadier General, Chaplain for US Military, and father of five.)
About the Author
Diane Paresso Life Style Mentor and Successful Entrepreneur, is helping many become the next success story. Whether you're looking to create an extra few thousand dollars per month, be an ex-corporate executive, or the next millionaire Mom, Diane can assist you to create a second stream of income and greater peace of mind. visit : Home Business
