Your Sponsor One of the most important factors in
home-based business success is that you have access to a
mentor who is committed to teaching you how to start and
grow a huge organization. Your mentor should have the
following qualities:
- Your mentor should be a 6-figure income earner.
Obviously, you need to have access to a successful mentor.
You need a mentor you is going to teach you the keys to
success. If your immediate sponsor does not make a 6-figure
income, than you need to have access to someone in the
company who is making a substantial income.
- Your mentor should have an established training system so
that you can easily duplicate their success. The training
system should be a step-by-step process that you can easily
follow in order to reach success.
- Your mentor should have various ideas on how to market
your product and opportunity. You should have access to
marketing your warm and cold market. Most importantly, you
mentor should be a successful internet marketer. Why?
Because that is the direction that the world is going! If
you want to be incredibly successful, you will need to have
access to an excellent internet marketer.
- Your mentor should be readily available to help you
succeed. They should return your phone calls and emails in
a timely manner. However, it is important to understand
that success is ultimately up to you. Your sponsor should
be available to help and guide you, but not run your
business for you. The Company
- $100+ million in annual sales. The company that you
choose must have a strong presence in the world. - 3rd
Party Validation. This is basically bragging rights. The
company should have references or accolades from other
organizations, trade magazines, journals, and so forth.
- 5 or More Years in Business. According to the Small
Business Administration, 30% of businesses fail in their
first year. 60% fail within the first five years, the
toughest period in the business cycle. When a business has
been in business for 5 years or more, they are
substantially less risky. You do not want to spend time and
energy with a company that eventually goes out of business!
- Debt-free and Stable. Obviously you do not want to
associate with companies who are in start-up mode and have
an accumulation of debt to pay back. The risk is not worth
it!
- Good Reputation in the Industry and with the General
Public. The company should also be in good standing with
the Better Business Bureau (http://www.bbb.org/), the
Direct Selling Agency (http://dsa.org), and the local
District Attorney. - International Presence. This one is
also critical. Any company should have at least one foreign
market (not counting Canada or Mexico), but the more the
better. An international presence means the company is
expanding and growing.
- Low Hype. The company should not use hype or promises to
position the opportunity. Does the company lead you to
believe that you can get rich with little to no effort? Or
do they emphasize that this is a business and it WILL take
effort and some investment to make it succeed? Product /
Service
A business is the exchange of a product or service for
something else of value, usually money. It's a simple
concept, but you'd be surprised how many people don't get
that. For a home based business opportunity to be
legitimate, a service must be offered or a product must be
moved. Here are some of the things to look at when
analyzing the product or service:
- Unique. Products should be patented or proprietary.
Trademarks and copyrights are good as well. If the product
is not entirely unique, then it must have some strong
differentiating qualities from the competition.
- Product Advertised as Much as Opportunity. The company
should put at least as much attention on the product as it
does on the home business opportunity. Check out the
company's website. If the site is all about how you can get
rich with a home business and there is little to no mention
of the product / service, then the company's approach is
unbalanced, borderline illegal, and definitely unethical.
- Competitively Priced. The product/service price should
not be overly inflated in order to support the company's
compensation plan. High prices should have a reason (better
quality, efficiency, delivery, customer service, etc.).
Compensation Plan It is vitally important that your company
has an excellent compensation plan. There needs to be the
distinct possibility that you can make a lucrative income
with the company. In addition, you want to make sure that
the payplan ensures that everyone within the company has
the possibility of making money - not just the "guy at the
top." Study the compensation plan carefully, because it is
a vital ingredient to your success. After accomplishing
your research ask yourself a couple of questions:
1) How comfortable do you feel with company, the
product/service, and/or your prospective business
partner(s)?
2) Do you like or trust your prospective sponsor?
3) Do you have a good feeling about the company?
4) Do you believe in what they are trying to accomplish?
5) Have you tried or do you like the product / service?
6) Would you recommend the product / service to someone
else?
Finally:
1) Will this opportunity help you reach your goal?
2) Is it ethical and fair to everyone concerned?
3) Will it take you closer to or farther from your major
objective in life?
4) Can you commit yourself to start and finish?
----------------------------------------------------
Jessica Swanson is an extremely successful entrepreneur,
mentor and life coach who has achieved a high six-figure
income. She has mentored hundreds of others on how to
achieve the same results. You can visit her at
http://www.unlimitedprosperityteam.com
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