What are the criteria for a "great" network marketing opportunity?
(How to evaluate an opportunity. The "signs" of a great opportunity.)
This page assumes that, from several types of home business options,
you are looking for a network marketing business. So the question is: What criteria should be used to evaluate networking (or MLM) business opportunities? The chart below contains 7 areas to consider. Each of the areas overlap some or all of the others.
NOTE
You can sign up with the very best network marketing company
and still fail. As many as 95%+ do fail.
As important as choosing the best company may be, real success depends on your skill in "Marketing Your Home Business" and in several other factors we have grouped under "Tipping Point Issues." (right menu) Your network marketing company is NOT your business!
See "Who's in Charge?" (right menu) Some people set up their business first,
and then select a network marketing company product or service.
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You should study... You should ask...
| 1. |
Market Place
Trends |
What is the market place looking for?
- The product or service should not be "behind the trend" (like a typewriter or top hat)!
- Ideally, the product or service is ahead of the trend!
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| 2. |
Potential
Marketshare |
Who wants or needs it?
Apply this to an EXAMPLE.
- Ideally, the product or service is needed by many large sectors of the national and global market!
- Would you buy the product or service? Can you get excited about it, develop a passion for it?
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| 3. |
The Company |
What do you know about. . .
- the company structure (privately held or publicly traded)?
- the management team (and Board of Directors if applicable)?
- the company's assets, debts, and similar measures?
- the amount spent on research and development?
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| 4. |
The Competition |
Is the business well positioned in the marketplace?
Note: This
is such a critical issue that this web site has dedicated
the next page to the significance of unique products or services.
- Bottom line: the network marketer must be able to offer products that cannot be found for the same quality and at a better price from other easily accessed outlets.
- Ideally, the business has a protected, ie., patented product or service!
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| 5. |
The Compensation |
What is the profit potential against the investment required?
- How long will it take to be profitable?
- Once profitable, will your potential hourly income compare favorably with what you hope to earn?
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| 7. |
Frontline Coaches |
Will the frontline coaches help me to succeed?
The frontline coaches in network marketing are your "upline." An
individual new to network marketing and / or to that company
will need someone in the upline who:
- is knowledgeable about the company and product/service
- is knowledgeable about appropriate and effective marketing strategies and systems
- is a good communicator and enjoys training others
- is respectful of others
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Resources
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Summary of Links
Scattered in the Text of
the Chart at Left
The "wellness industry" potential.
Systems: Definitions of a system vs. a strategy.
Examples of making systems work.
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