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Created on: September 30, 2009
Deciding on a networking business, just like any type of business, requires careful consideration, time, and analysis. It is not a decision to be taken lightly or to be rushed into, no matter how urgent the representative may seem. That being said, in order to identify the best networking businesses you should look for certain characteristics that demonstrate integrity and a solid business model.
First and foremost, you want to see what type of affiliations or accreditation the networking business participates with. Many of the best networking businesses belong to the Direct Selling Association (DSA). This is an independent trade organization established to insure that direct selling firms practice the highest standard of ethics, that their products are sound, and to represent the interests of direct selling firms. They have a stringent code of ethics which members must meet and follow in order to receive a DSA seal of approval.
Another key consideration is whether or not the company is publicly traded. Publicly traded firms must maintain transparency in their operations and financial practices. It is another safe guard that helps to protect both consumers and representatives who buy in to the business model.
With the vast number of business opportunities available and the many different products, compensation packages, and models they employ it can be quite difficult to discern which one is best. In their book The ABC's of Making Money, authors and consultants Dr. Denis L. Cauvier and Alan Lysaght surveyed entrepreneurs and developed fifteen key points one should consider when reviewing a business opportunity. Specifically they state that the opportunity should:
1. Be available to the masses: The larger the market, the greater the opportunity for sales and growth.
2. Serve a basic need for many people: Is it something people need and use on a regular basis? This will create continual clients, rather than a one-time sale.
3. Come with low risk: If for some reason you fail, will you be worse of than before? It's nice to think about the potential of an opportunity, but you also need to consider the possibility of it not working. If failure will leave you destitute, you may want to reconsider.
4. Provide residual, passive income: The point of network marketing is to free you from the wage-an-hour method of producing income. Passive income does not require your physical efforts for every transaction. Can customers order online? Do they always have to go through
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