Not every business opportunity is alike. Out of all of the many business opportunities on the planet that you're being flooded with on a regular basis, how do you choose which is the best home-business opportunity for you? I'll provide 6 must-have's in order for the business you're considering to be worthwhile. You can do what about 90% of new entrepreneurs do. You can get excited about what seems like a good opportunity, do a little bit of due diligence, dive in head first, investing your last, hoping to make a 500% return on your investment in the first 90 days only to be discouraged later by the time that it's taking to see your return. This doesn't sound like a sure-fire or lucrative way to invest in business does it?
Trust me, if you talk to most successful entrepreneurs, you'll find that that the majority of them have experienced something like this. You definitely want to learn from their mistakes and not follow the same path. You will definitely save a lot of time and a ton of money. Based on my experiences and the research of several other successful entrepreneurs, specifically in the networking industry, I have been able to isolate 6 critical elements or key factors that you should consider when deciding upon which business model to adapt or invest in. What is going to make the most sense and cents with the time, energy and the type of effort you're willing to put forth. So, here's my list: 1. The product you're selling must be unique in the marketplace to lessen the competition. How many business opportunities have you been presented with that are selling health and wellness products such as vitamins, juices, potions, lotions, make-up and more? These particular products are saturated in their industry. It would very difficult to get people to see why your product is better than what they can pick up from GNC, Target and their local pharmacy. Chances are, someone in their family is already selling something similar. The competition is just too stiff for products that are not unique.
2. The product cannot be in and of itself, Multi-Level Marketing (MLM) because it would take too many product sales to actually make money, and your "down-line" or distributor base takes too long. In many MLM companies, you are in direct competition with someone who you just brought into the business. You can also experience what is called a "break-away," where the organization you worked so hard to build can somehow magically "break-away" from you and form an totally separate organization, leaving you devoid of all of the residual income supposedly provided by your down-line. It's also illegal to promote only an opportunity. Their has to be an exchange of product or some sort to comply with federal business regulations. There should always be a product of some sort: (a good or a service)
3. The product should be able to stand alone, and be worth what you pay for it regardless of if there's a business opportunity attached. You have to be able to stand behind your product with integrity. If it's something that you believe in, the value of it will stand out and it will be undeniable. You won't have to convince someone of it's value also. The product should be great enough that you recognize that all of the benefits from purchasing and owning the product will be well worth it's price. If you don't feel a connection to the product and it seems like simply a "means to end," you may not wish to engage in the sale of that particular product.
4. The company must have back end products to encourage "repeat customers." This helps to create more residual income. It's easier for a current customer to be a repeat customer than to keep procuring new customers for every purchase from you. Having back-end products such as additional or upgraded memberships provides a means whereby you can be paid again and again.
5. The company must pay strong up front commissions as well as generous residual commissions. It's encouraging and motivating to receive your first commissions and they be of substantial value. Sure, receiving small commissions is nice too, but having a pay plan or payment system in place that allows and perpetuates considerable upfront commissions, that gives you the fuel and additional resources to use to re-invest in your business. In other words, up front commissions help you start fast and residual income allows you to eventually retire.
6. The company must have stable ownership with a track record of success. You definitely want to be in business that shows that it has staying power and puts your best interests at heart. There have been numerous companies that have used the vehicle of a "business" to simply siphon your hard earned money into an account that you have yet to reap any benefits from. That company then becomes obsolete, or changes it's name and you're left out in the cold. So, it would be of your best interest to only consider a company with a product that has rock-solid ownership that you can trust and put your faith in.
After several years of sorting through companies and the marketing systems behind those companies, I've settled on the Infinite Income Plan as my ideal business model complete with turn-key marketing system. It's a no-brainer for me. What about you?
Megan Jenifer operates the blog http://www.QuickandEasyIncomePlan.com/blog, which is all about the quickest, best and easiest methods for generating a substantial income on the web. She loves giving away substantial information. Right now, she's giving away access to a special report of how an ex-factory worker pocketed OVER $253,000 In Less Than 90 Days, and how that can be you too!
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