So, you have decided to start your own business? That is a great idea. We all know that owning your own business can be a wonderful way to earn an income.
You have thought it over and considered franchising. Owning a franchise can be a good thing if you have plenty of time and money to put in up front. You must consider the franchise fee and ongoing fees, which can be quite a chunk of change. Then, there is leasing the right space, stocking the store, hiring dependable employees and much more.
Another way to own your own business is through direct sales or network marketing. Direct sales is just like the name says, you sell directly to the consumer. You can hire a few good sales people to sell a lot of products each. Many people have done quite well in direct sales and you could be one of them.
One great way to create a fantastic income with very little upfront cash is through network marketing. Networking marketing is a sales paradigm that utilizes a lot of people each doing a little bit each. You can build a residual or royalty income for your future also. There is the money you make now and also the money for your future that you can use for retirement or even for investing in other income revenues, such as real estate.
Once you have made the decision to make your career in network marketing, you must ask the question, which company should you choose? That is a good question. There are many many network marketing companies out there to choose from. How can you possibly know what to look for? Well, that is why I am writing this article. This is to educate you and give you some suggestions as how to choose a company to make your home with. You want the company you choose to be the place you plan to build and stay for your future. So here are my suggestions:
1. Build your business with an established company. A network marketing company that has been in business for at least 5 years is better than a brand new company. First, an established network marketing company has a track record you can check on. I know you have heard that start ups are the best because of the potential to make a lot of money. That is true, but start ups also come and go like crazy. You should want to find a company to call home that will be here for the future so when you build it, it will be here to last. Wouldn’t you hate to spend your time and money and building relationships in a company only to have it fold up on you in a couple of years.
2.The products in the company you choose must be products that work! Products that do what they say they will do. In network marketing, products generally cost a little more than products at the grocery store, so you want to make sure that people do get their money’s worth. If you must, then try the products before you join.
3.Make sure you choose a company whose products will stand the test of time. Do not choose a company with fad products because those kind of things come and go like the wind. There are so many network marketing companies out there, so it is a wise idea to choose a company with products that people are going to buy no matter what is going on with the economy. Just excellent quality every day products.
4.Check out the compensation plan. Study it, compare it with other plans. It should be simple to find the company’s basic compensation plan information. If you feel like you need a degree to find out what the company is paying, the go look somewhere else. A good network marketing company should have a great payout. Finding one that pays fast cash and also residual income is good. Make sure there is a plan in place to help you earn back your initial investment back within the first month or two. Having a lucrative compensation plan is important also when building your team because you want your team to achieve success as soon as possible.
5.Last, but not least, is look at the leadership of the company. Find a company with an ethical leader at the helm who is respected within this industry. When the CEO and top leaders have actually built a business themselves, they can better understand how it is on the field. Having top leaders that have never done it for themselves in a network marketing company, makes it a challenge for them to understand the distributors and consultants who are actually building a team. Great leadership is very important for your success and the success of your team