If you are going to put all your energy, your time and, most importantly, your reputation into building a business from home you MUST do your due diligence first.
We used the following checklist before choosing our company 16 years ago and we have always been so glad we did. So many “great opportunities” and fancy offers have come along in that time and most of them were gone within a few months. Nothing is certain in life but we can definitely keep the odds in our favour so would like to share the list with you.
You MUST be able to tick off ALL 12 to create long-term residual income
1. COMPANY TRACK RECORD
Because most companies fail within the first 5 years its best to pick
a company thats been in business for a minimum of 5 years but 10 years would be better…and is it still growing or is it in decline?
2. FINANCIALLY SOUND
If you are going to put in time and effort you need to ask – will it last? The company you choose needs to be financially healthy and if it is free of debt that’s a big bonus.
3. STRONG MANAGEMENT
Strong Fortune 500 style management is preferable and the company should NOT be ran by MLM guys. They can end up owning the downlines and start making decisions to make themselves wealthy off the backs of everyone else
4. UNIQUE CONSUMABLE PRODUCTS
Products must be highly consumable by ALL and the kind of things people are already buying. People’s budgets can’t be changed especially at a time like this so they must not be required to spend any new money.
I’ll say it again for emphasis. NO NEW MONEY.
5. COMPETITIVELY PRICED
Products must be considerably less expensive than the supermarket they are already shopping at, or of noticeably better quality.
Smart shoppers want you to give them great valuefor being a customer.
6. HIGH MONTHLY REORDER RATE
You want your customers to stay for years so there needs to be overwhelming value and as many reasons to stay as possible so they want to keep ordering month after month whether or not they’re in it to make money.
Hint. (A 95% monthly re-order would be an impossible dream for most companies but it can be done)
7. LOW PERSONAL PRODUCTION REQUIREMENT
Low monthly order requirement and no monthly quotas no matter what position they advance to in the company. They should only have to buy what they can reasonably use in their own home that month.
8. LOW ENTRY FEE
There needs to be a very low cost for anyone to join and the enroller
should not be paid a bonus on the joining fee. The fee should be small enough that anyone can open their account ‘right way’ and they must not be buying inventory with their entry fee
Don’t go for so called ‘ground floor’ deals since most deals fall apart in the first 5 years
Bad news travels fast and when people get hurt and lose money, they tell everyone they know. That’s why most MLM companies get a bad name so it’s best to steer clear of MLMs.
10. KEEP YOUR CUSTOMERS FOR LIFE
You should NOT be penalised for enrolling someone better than you
nor should you lose a person’s volume because they do better than you do. This is the hidden drawback in many companies compensation plans.
Leadership development should be rewarded… not penalised and a company should be built on a sense of gain… not a fear of loss so check this out before joining anything.
(Hint. You should actually be hoping and praying that you find a few guys or gals who are better than you are and when you do, cheer them all the way to the top.)
11. NO RISK
There needs to be a 100% Money Back Guarantee on all products and
on the opportunity itself… no questions asked! It needs to be safe for everyone… and everyone needs to feel safe whether they are customers or intend to be business builders
12 IN ALL BUSINESSES THE WELL KNOWN 80-20 RULE APPLIES.
(if you don’t know what that is don’t feel its silly to ask, there are no daft questions here)
But wouldn’t it be great if there was a business that even the 80%’ers could do? Make that a part of your thought process when deciding on your company…Can a single person bringing up children do it? Can a person do it in their retirement years to supplement their pension? Can a very busy person do it in just three or four hours a week? The question you are really asking is…Can I do it?
A COUPLE OF QUESTIONS FOR YOU:
● Which one of these 12 points would you be willing to forego and still throw your time, energy and (I’ll say it again because it is the most important thing) YOUR REPUTATION into the business?
● Are you looking for the next ‘rising star’ opportunity… or are you looking for the last one you’ll ever need?
If the company you are a part of doesn’t meet ALL 12 of the factors, and you’re looking to find a business model that does, we’d love to talk with you. We’ve been building a solid business that aligns with ALL 12 of the factors. We would love to tell you how it all works and what’s involved.