Are You in the Right Business?
Are You In The Right Business?
The reason many people fail in small businesses or home business is they don’t do the due diligence necessary to set themselves up to succeed. Perhaps they buy into hype. Maybe they take action based solely on emotion. It’s an easy trap to fall into. Truth be told, if they just realized that asking a few simple questions of the opportunity and assessing the answers before taking action could literally mean the difference between earning six figures or more per year residually for decades vs. falling on their face.
Think about these points individually and give an honest answer for each. Put the business you’re working or considering joining to this test, logging each “yes” and “no”:
- Is the product unique?
- Is the product something everyone will use?
- Will people see value in the product to justify the expense?
- Does the company hold unique patents on its discovery, technology, or product?
- Is the company coming into the industry early in the trend cycle?
- Is your product or service industry expanding?
- Is the company’s own product line poised to expand well into the future?
- Does the company have almost no debt?
- Is the compensation plan strong and attractive?
- Does the compensation plan encourage you to help your team succeed?
- Can you return your initial investment realistically within 30-90 days?
- Has the company been in business at least 3 years?
- Is the management of the company solid?
- Are the top earners and leaders in the company content?
- Is the company involved philanthropically on some level?
- Will the company allow you to use “real marketing” to build your business?
- Has the company implemented online-based training and tools?
- Will you be able to build one international globally-seamless downline?
- Is there a six-figure annual earner available to you full time?
- Is the monthly cost for all compensation $100 or less per month?
That’s 20 questions designed to cover the entire spectrum of successful business building, in our experience. I know folks will read this list and believe that some important questions are missing or some should be left out. Everyone’s viewpoint is unique and your list may look slight different than this one. Great! That shows you’re putting thought into this and you have individuality. No two lists will be the same. This is “our 20”. What does “your 20” look like?
Now, let’s get down to business. We’ve never seen a company that scored a perfect 20 out of 20, except for possibly one…ever! What you’re looking for is the high teens. A small handful of companies out there will reach a score of 18 or 19. If you find one, consider joining if you feel all of your questions have been answered, but be honest in your answers or your results won’t be valid.
Good luck in your search to find the next “19”. With a little care and due diligence, you should be on your way to building a successful, international business in no time.
See how companies rated in our Company Review Section.