How to choose your biz

It doesn’t really matter what biz you choose if you stick to some common sense principles and adopt the right mindset in respect of the company you are working with.

Your mindset

The first thing to do is to establish clearly the relationship between you and the company.

Elsewhere on this site, where I talk about roles and responsibilities, I touch on this same issue and encourage you to distance yourself from the company.

You should consider the company and the opportunity that they offer to be nothing more than a vehicle for your success. And that vehicle needs to be robust and roadworthy.

Use your head to make a sober analysis of the options open to you and make your decision based on good business reasons.

Avoid shiny objects. There will always be other opportunities to look at. Ignore them. If you have done your homework and found a biz that satifies the criteria below then you can be confident that it is worth sticking with as a vehicle to grow your wealth.

Attract people to you, build an email list and learn how to use it properly. If something unforseen happens and your biz op folds, you will still have a loyal following for your next venture!

Always consider how others perceive you and always strive to maintain the highest standards. Never put your reputation at stake or you could lose everything.

Retail customers

Are real products or services on offer and can you earn commissions from the sale of these to ordinary customers?

Customers are the lifeblood of all business and it is their purchases that provide all the revenue for the company and the commisions for its agents (you).

If there is no option for a customer to buy the product without first joining as an agent then you should beware that you are probably getting involved in a recruiting scheme.

When the only money changing hands is in the form of agents’ monthly subscription charges then that means that all commissions are paid from downline contributions. This is an unsustainable business model akin to a chain letter or a Ponzi scheme.

Avoid these like the plague because eventually all such schemes crash and burn along with the reputations of all involved.

A benefit of having real products is that you can target potential customers as well as biz builders!

Clear ownership

Can you see the owner’s contact and address details?

This is unlikely to be a problem if you can tick the “real products” box above.

But if the owners want to remain hidden then you should consider the motives behind their anonymity. Why would this be justified in a legitimate biz? Treat this a a big red flag!

Everlasting niche

Are the products likely to remain in demand into the future?

Don’t waste your energies on products that can soon be overtaken by technology, are just a passing fad or can be purchased much cheaper in your local supermarket.

You need to be fairly confident that the product will have a long life and that repeat purchases will continue for years to come. Examples include:

  • household utilities
  • precious metals
  • beauty
  • health and fitness
  • self improvement
  • marketing tools

Choose something that you would use as a retail customer, maybe even get passionate about!

Repeat business

You need to find products that customers will buy regularly because this will deliver steady commissions. No matter how good the product looks if it is not something that is going to be consumed quickly and required over and over again, then it may not be suitable for your venture. Good examples are health and beauty products and online marketing tools.

Volume

Various businesses have their own terms for this but the generic term is “volume”. This is a measure of the amount of revenue that is being generated in your biz. Obviously the greater the average volume per customer, the larger your commissions will be for a given size of customer base.

Or, you can look at the percentage paid on sales. Again the higher the percentage, the more you will earn for a given customer base.