With more and more people becoming unemployed, combined with business Professionals wanting to jump off the Corporate Ladder and start putting real money into their own pockets instead of their Boss', working from home online is growing exponentially. While having a good impact on the environment, simply because there's less cars on the road during the morning and evening commutes, it's not just a case of choosing the first opportunity that comes to hand. It pays to do due diligence first to make sure you're not wasting your money and your time. The 7 points below should help you to at least narrow down the field before you gut feeling takes over!
1. Research what the company actually sells because you will be selling it. Is it a product that is already saturated in the marketplace? How much competition is there for that product? Are there large companies that have been selling the same products for years in that marketplace, can you compete against them? Is there a niche you can see for that product? If you took away any commission that you may make on that product, is it something that you would buy yourself, i.e. would you be enthusiastic about selling it because you can see value in it?
2. OK, so the product shapes up, happy days. The next thing you need to look at is the compensation plan. There's two things you should look for here, it shouldn't be a $20 product that pays you very little in commission, instead should be a high cost item, at least $400+ and you should receive at least 50% commission on that sale. This is good for when you are starting up, less sales and more profit = happy life and getting to where you want to be quicker. It should also have a residual component built in, that way you don't need to keep going hard for years and years to keep the level of income coming in. You can have a nice holiday somewhere for weeks at a time all the time knowing that you still getting paid. That's leverage, not trading time for money!
3. You can't sell a secret! The best products in world combined with the best compensation plan are nothing if the marketing system is not up to scratch! Check out the marketing system, see if you can easily duplicate it so you can reap the rewards quickly and easily, there's no point in re-inventing the wheel.
4. Check out the owners/management team. Have they any history in the industry, have they been successful before, are they likely to close the doors one day take the profits and never to be heard of again?
5. What about the rest of the world. Does the company's products/vision translate globally? Having the global marketplace to trade in is great, having just one country is OK for a while too, but will there be too many competing consultants from the same company eventually saturating the market?
6. Giving something back. It's great to have the great company, successful and growing rapidly, but a company with a conscious is a beautiful thing. Check out to see if the company gives back to the community, helps out any charities and expects nothing back in return, the world will be a better place.
7. No matter how successful any one person is, they all had to start somewhere and they were all new and inexperienced. As a new business owner the most important thing you will need is education. Does the company have a great training system to help you get started quickly, is that backed up by a staff professional business consultants just a phone call or an email away? Is there an archive of training calls and webinars to help along the way. What about a forum of existing members, like a big family of like minded people all sharing their experiences to heap one another out?
No matter what business you decide to pursue, I would encourage you to thoroughly research the company, and do lots of research. Time and money are two commodities that everyone wants more of, choose the wrong company and it could end up costing you a lot of both not to mention the frustration of having to give it away and start all over again. This is not a time for trial and error.
Good Luck!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment