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Patrick Saint-Jean
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Patrick Saint-Jean   My Press Releases

Do you know if you are in the right business?

Published on 1/29/2012
For additional information  Click Here

We all know that it is a very tough economy and many people are struggling to make ends meet. We also know that a consequence of that is people genuinely want to find a way to earn money through a business of their own. And it is not true that people don't want to work. Those of us that are in network marketing and that are finding it extremely difficult to find anyone with any interest at all in the business that we are in, we do have to ask ourselves this question: Am I in the right company? That is a very important question because it does matter what company that you are in. Not all companies are the same, they all have different products, different systems, different business model, different capabilities and different financial strength. The fact of the matter is that there are a lot of business opportunities out there. While that is not a bad thing, it does pose a challenge for entrepreneurs who are genuinely interested in being successful. To be successful in this challenging industry requires the independent small business owner to have a solid company behind him/her. This means, a company which has a very good product that people need, a strong business model, that is price competitive with respect to industry peers, and that also has a strong marketing platform for the independent distributors. One aspect here that can't be overlook is the financial strength of the company. The financial strength of a company has a lot to do with various features of the company's business model, its capacity in terms of production, the amount of products that it offers, the variety of product mix, and the quality of the ingredients that it uses in its products. Furthermore, the financial strength of a company has a direct effect on the type of structure that the company uses for compensating the distributors in the business. As an example, many companies in the health and wellness industry uses a binary system in their compensation plan. With the binary system you can still make a lot of money, but it is limited in the sense that you only have two legs to work with, a left leg and a right leg. The important thing to note is that the binary system is directly related to the production capacity of the company. Many companies simply can't adopt a hybrid system for their compensation plan (see below) because the matrix would far exceed their maximum production capacity. In other words, the compensation plan matrix has to match their production capacity. There is another factor that also influences the decision to use a binary system as opposed to a hybrid system. That is, a hybrid system is a lot more richer compensation plan than a binary. For serious network marketers that have abilities to build huge organizations, the hybrid system gives you maximum potential for tremendous residual income. It gives an incentive for the individual business owners to bring as many people in the company as they can. Many companies are not able to offer a generous and rich comp plan. In essence, the compensation plan is critical component of the business model. Another important component in the business model is the variety of products that the company offers. That is very important because the company has to offer products or services that the broad base of consumers need and want. Not all consumers will be interested in the same products. A company that offers a variety of products as part of their business model is able to gain market share in different sectors of consumer demand. For the independent business owner, that is an ESSENTIAL element and a source of a significant competitive advantage against their peers in the industry. They are able to present a variety of products to the prospect or to the customer. While the consumers may not need one particular product, they will have a need and a want for another product. Having a variety of product offerings will enable the independent business owner to convert prospects into sales and into distributors, which will grow the business exponentially. It is very important to evaluate a company from many angles, from many aspects, before deciding to join this company. When you join a company, one should carefully analyze different metrics for the company in order to determine the long term prospect for the business. The company should be financially strong and be able to stay in business for the long term. It is advisable to choose a company that have been in business for over 3 years. That is the benchmark to determine the prospect for sustainability, according to the Direct Selling Association. So, again, it is critical that opportunity seekers don't focus on just making quick money, but more importantly, to focus on building a business with a strong company, that will be in existence 10, 15, 20 years down the road. After all, isn't residual income better than a quick one time profit? Patrick Saint-Jean http://www.ibourl.com/dvz E-mail: psaintjean1@gmail.com
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