Published: Jun 20, 2014
By: Chuck Bartok
How to Choose a Network Company &
How to Choose a Network Company &
What Makes a Great Opportunity?
#1 - Low-Unit Cost
When picking a Network Company to represent, study carefully its product or Products. Is the unit cost competitive to similar products offered through other Networks and through normal Marketing methods.
#2 - Highly Consumable
To have a successful residual income, the product needs to be consumable. This simply means people order the product month after month, and you continue to receive commissions based on their purchases. Study carefully the Companies retention rate. If you have to replace 50-60% of your business every couple of months, you will have a hard time developing a High level Residual Income
#3 - Uniqueness of Product
Look for a Product or Product that is not in everyone's Sales Kit. You want the Product to possess certain exclusivity, a product that can not be purchased at the Corner market or Box Store. Is the product patented or are their manufacturing nuances that make it difficult for the total product to be easily Duplicated.
#4 - Exemplary Management Team
In order to feel confident of the staying Power of the Company and Product you chose, you need to study and understand the business Structure and the Management Team. Is management familiar with the uniqueness of Network Marketing or are they comprised of Trophy executives hired for their Name recognition or Notoriety in un-related fields. A Company with staying power needs a team who has experience in international, multi-million dollar businesses. People who have done this before, and are knowledgeable in multiple areas.
#5 - Profits for the Company & Distributors
Study the financial position of the Company. Be cautious if figures are not available.
What is the Company debt ratio? Have they changed marketing plans several times?
Is the Compensation Plan easy to understand? Is there a big discrepancy between actual Sales Dollar Volume and Credited Volume? Is 100% of commission percentage actually paid, or is there a lot of breakage? Look for Companies that pay 100% of stated commission and are on sound financial footing. Also be wary of Plans that require large up-front costs, and/or require carrying large Inventory
#6 - Timing, Timing, Timing
Is the Product and/or concept, in tune with Current Trends or better yet, are they a little ahead of the curve. Are you choosing a business that is on the cutting edge of a growing Market? Think of the rapidly expanding Global position and where can this Company fit in the Global Economy.
#7 - Presentation and Duplicability
Can the presentation be made quickly, easily and understandably? The secret in Duplication is that almost anyone, with strong desire to succeed, can be successful. Is the system cross generational? Is it Non-gender specific? Are the requirements for Start-up easily affordable to large cross section of the Global population?
If the Company or Companies can stand up to 6-7 of these criteria, you have a very good chance for high degree of Success. If only 4-5 apply, I guarantee you will work too hard to gain too little, and if only 3 or less fit, run for the hills and close your check book.
Success in Network Marketing needs the above criteria for the Product and Company;
But more importantly it needs the individual to be willing to change their lifestyle and thought process.