There are a lot of business opportunities out there. In fact, they are a dime a dozen on the internet. So how do you know which ones are worthwhile and which ones are a waste of time? How about past ventures? Should you go back to something that you've tried before? The answers are not always as clear cut as we would like them to be.
Evaluating new opportunities can be hard, especially if it's your first foray into direct marketing / network marketing / affiliate marketing. There are a few boxes that you can check off to see if the company seems legit or not.
A. Is there an actual product or service that you can sell to customers? If the answer is yes, then that's a good sign.
B. Can you sign up as an affiliate and not be a customer? If the answer is yes, then add another check mark in the win column.
C. In the compensation plan, do you get paid to recruit new members or to sell the product or service to others? If you get paid to simply recruit new members and not sell them the product or service, this would be a red flag.
But what if you've been in the industry a while and have had some success in past opportunities and wonder if you should go back? Or maybe you're wondering if you should continue on course with your current business? Here are some things to consider moving forward from where you are today.
1. Have you put in at least six good months of solid effort? Only you can be the real judge of that. But don't kid yourself. It's time to be honest with yourself. If you say no, then it's time to buck up and "git 'er done." If you have put in at least six months of solid effort, then continue to evaulation point number two.
2. Are you making money? No, I don't mean making a commission check. I mean making a profit. Does your monthly commission check meet or exceed the amount of your monthly commitment to the product or service - the cost of the "autoship," if you have physical products. If not, then I would suggest re-evaluating your business plan. If you are six months in with solid effort and can't cover your costs, it might be time to move on.
3. If you're evaluating whether or not to go back to a business opportunity that you've had some success with in the past, review points 1 and 2 above. After that, ask yourself this question: "Can I put myself behind this company, 100%, without reservation?" If the answer is no, then don't do it. You have to believe in the opportunity if you want it to work. 100%, all-in. Why? Because if you have doubts, your prospects, customers, and downline will know.
Hopefully this blog post has been helpful in your evaluation of business opportunities, both new and old. I've been there myself. I stand at a crossroads of opportunities even now. I'll let you know in a few days where it all shakes out, and where I decide to plant my flag!
If you have any questions or comments, please leave them in the comment section below! I love to hear from my readers. :)