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5 Ways to Find the Right Company and Success

By: Hedy Bookin-Weiner

For your home-based business you want a good compensation plan, the right training and support, and a product you can be excited about. However, most important is the right company. That’s because your investment of time, energy and money will vanish quickly if the company is not solid and likely to be around for the long term.

It could fold?

If you are in the home-based business industry, you will have heard of companies that folded due to financial problems or problems with the government . Other companies changed ownership, and with that policies, products and compensation all changed. People (along with their carefully nurtured friends and family downlines) have lost everything.

Embarrassing, annoying or infuriating?

Like dealing with irate customers? More problems could come from companies that don’t deliver their products on time or have problems with their products (how would you like to have a product invested with worms in delivered to an important prospect?)

So how do you choose the right company?

1. New Is Not Always Better

Statistics vary, but within five years anywhere from half to 90% of new businesses fail. Often new companies promise that getting in early allows you to make the most money. That’s true in the stock market, if you buy the right company early and watch it carefully, so that the company tanks you can sell in time to get your money out. However, it’s not true about buying a business, unless the market is saturated with a product. If you sign on with a new business, unlike watching the stock on an hourly basis, you have no way of knowing if the company will suddenly fold or sell or change critical policies. People have joined long-established companies and done very well very quickly. The rule of thumb is that five years is a reasonable time period, longer is safer.

2. Do Your Due Diligence

If you want to have fun losing money, go to Vegas. It’s not fun losing it in a business, and watching those you brought in lose, too. You are investing in a business, and business people always investigate before taking calculated risks. Google will help you check your prospective company’s credit rating and any tangles with Federal regulatory authorities. Some debt is acceptable if it’s used for expansion, but you want a company that’s financially solid. How good are the reorder or customer retention and return rate? Check what the Better Business Bureau has to say, but be wary of what may be the ulterior motives of some people who post to forums.

3. Is the Company Going Places?

You want a company that shows an increase in sales and profits (unless the profit is going toward expansion). However, if sales are going up dramatically, does the company have the production capacity to handle it?

4. Going to a Different Place?

Even if it’s financially solid, how likely is it that your company could be bought out or sold? Who owns it, are they involved in the business, and even better, are their children involved in the business? Otherwise policies (especially compensation and support) and products could dramatically change.

5. Made In?

Even if it’s not pet food from China, where is the product made? Have there ever been any disruptions in deliveries or problems with defective products? If so, how were these handled?

Once you have found a nice, solid, reputable, established company that’s only the start. The next question is whether it’s going to be worth it. Compensation plans can involve a magnifying glass and the strategic abilities of a chess master, but if you read my companion article, “Compensation and Support: MLM/Referral Marketing Business made Easy or Hard,” you’ll learn the key elements to finding a lucrative compensation plan in a great company.

Article Source: http://www.articlekingpro.com

Businesswoman, Friend, Collaborator, and Team player, Hedy Bookin-Weiner fulfills her Entrepreneurial Calling by offering a great service that enriches the lives of others. Together with other fellow BraveHeart Community members, her goal is to empower Women to be multi-dimensional success stories and inspiration to others. Be Sure to Visit: Be a BraveHeart Woman

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