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Finding a good business to represent in the current economy is no easy task! It is difficult to find out what company is good, which ones are scams, or one that will be around longet than a year or two. Here are some of the ways that we go about researching if a company is a good opportunity or not.
Management Team – This is the most important criteria in selecting a direct sales or network marketing company. The reason is that you can have a below average product and a great management team but together they can build a successful company. The opposite is just as true – a bad management team can take an amazing product or service and drive it straight into the ground. Or worse yet, take the money and run.
Product – You will find almost everything can be sold, and is, in network marketing. But not every product is best suited to be distributed through network marketing. Historically you will find that the number one product category is health products; the second is skin care; followed by a close third, household products. Notice that each category has monthly consumable products.
Market Trends – As we enter one of the most difficult economic transitions in our lifetime, it is important to understand and use the current market trend. As the economy has worsened, more people have become interested in home based business opportunities. But at the same time, you need to take a closer look at the product or service's market that the company is targeting and determine if that market is in an uptrend, down trend, or overly competitive.
Profitability – Is there enough profit in the sales of the product or service making the compensation plan lucrative. Training and Support – In a good company you will find a mix of good training tools. The main focus should be on the product or service such as research, product comparisons, and business support tools. Many have websites that you get as being a distributor which is a great tool when starting out. Check to see if there is an additional cost for any of the tools.
These are some of the processes we use to analyze a company. I would not recommend you start a business distributing a product or service that does not meet all of your criteria. You will find differences in value or quality in each category, but when you find a company that excels in all ..you might have a great opportunity! If you're at a point where you are searching for a business opportunity, hopefully this will help you find it faster. I hope this helps you find your solution in this great industry.
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