The 10 questions to ask to find the best home based networking marketing or business opportunity for you. How to make sure you find the right company at the right time to maximize your income.
While network marketing, also called MLM or multi-level marketing, used to have a terrible reputation, it has now become one of the fastest growing ways for the average person to build a residual income for retirement.
Famous people like Donald Trump and Robert Kyosaki (Rich Dad) are now endorsing network marketing because it offers business systems people can use to start their own home based and can be started part time and with very little money.
Good network marketing companies have systems just like franchises but unlike a franchise, they don't cost hundreds of thousands of dollars. Many can be started for only a few hundred dollars.
So how do you find the right one for you?
Here's a checklist you can use to evaluate the hundreds of choices that are available to you.
1. Do you have a passion or strong interest in the product/service being sold? Start with this because if you are considering doing something you are not interested in just for the money, you will probably fail. Would you buy the product/service yourself even if there was no opportunity associated with it?
2. Has the company been in business for at least 5 years? A little known fact is that 95% of all network marketing companies fail in their first year and only 1% are left after 5 years. You don't want to put a lot of time and effort into building a business that fails and have your income stop through no fault of your own.
3. Has the company's ship already sailed? While you don't want a company that is too new to know if they will survive, you also don't want a company with millions of people already in it. Look for a total distributor count of 200,000 or less.
4. Is there a proven demand and both a large business and consumer market? A product/service with proven demand by a large number of consumers and businesses who have money to spend and are willing to buy is ideal. You don't to be selling a product anyone can just buy at Wal-Mart for less money and the only reason you are selling it is for the opportunity. Ideally you also want a product/service that can be sold to businesses in easily identifiable niche markets with proven financial justification.
5. Is there any competition? Your product/service should have no realistic competition in it's market because it will represent a technological, ease of use or price breakthrough. You want a product/service that will expand it's market, not just take sales from the competition. Look for price advantages of 50 - 75% or more.
6. Can you earn immediate income as well as passive residual income? Does the comp plan allow for substantial amounts of both? You don't want to have to build a huge downline just to get enough income to stay afloat.
7. Can you do it part time without leaving your job? The best way to build a business is to have the time to make it work without jeopardizing your existing income and only go full time when your income from your business exceeds that from your job. Can you do it at home at your convenience by phone and using the Internet without attending or conducting any home parties or opportunity meetings?
8. Will you be getting one-on-one personal help from your sponsor? You want a sponsor who is already successful in the business and who has the time and desire to work with new people to develop them into leaders. It's no good if your sponsor has no time for you and is spending all their time looking for new recruits.
9. Is there a simple, duplicatable system for building your business? You need simple systems to follow that anyone can do with minimal training. There should be complete online training and system that allow a new person to sign up someone else their first day in the business. Can you succeed without any sales skills by letting the system do the selling?
10. Is the business on the leading edge of technology? The best businesses are leading, not following, with technology and can be marketed world-wide. They take advantage of the Internet and web 2.0 technology.
If you can find a network marketing business that meets all these criteria, you are well on your way to financial independence and a passive income you can depend on for your future.
------------------------
How To Grow Your Business at 35% Per Year During A Recession
Is your business growing during the current recession? Here is the story about a guy who owns 4 business, all of which are growing at at least 35% annually right now. See how he does it and how you can too.
How To Get A Billionaire To Call You
Wouldn't you think that if you could get a billionaire to call you, that whatever method that took might also work on your customers and prospects?
10 Questions To Find The Best Home Business To Start Right Now
With the economy in rotten shape and hundreds of thousands of people losing or about to lose their jobs, there has never been a better time to start your own business so you can be in control of your own destiny. The question is, though, how do you find the right business? There are literally thousands to pick from. Ask these 10 questions to find the right one for you.
