Before you start an online business First you need to get your mindset totally right.
Today we will discuss Non-Negotiables To Ensure You Are In The Right Place before starting an online business.
Do you know what to look out for when joining a new company?
Do you fear putting all your work, time and effort into something that you may not stick with?
Honestly, if we’d have known some of these when we first started in online marketing, we probably wouldn’t have joined our first company.
These 7 non-negotiables will help you when you are looking to change the company that you work with.
Number One: Look Into The Company
Make sure to check into the company first! Check the stability.
How long has it been there?
You don’t necessarily want to be in a company that’s scattered. You need to look for a very strong leadership on the corporate side and a very strong leadership on the field side.
The field team is what you will join so it is important to judge it’s stability.
How do they build their teams online?
Are they old school builders?
One important factor that you will want to look for is a company that is building their business the way you would build yours and has the lifestyle you want when you get to that level.
You may love one of your companies, your upline, they’re incredible people, right? It’s a great company with a great leadership team, but they build old school. So they’re gone six or seven days at a time, they’re flying to different countries, they’re doing meetings. And that’s how we were taught how to build our businesses.
Welcome to the new digital age.
We don’t necessarily need to be doing those kind of things anymore. We have ourselves and our families to make time for now.
Have a look at the leadership, have a look at how you’re going to be taught to build, and check that it is in alignment with you! Are you gonna be happy doing what you’re gonna be taught to do? Because if not, then take another look somewhere else because it’s not going to be the right fit!
Number Two: The Products
Are the products relevant in today’s environment?
Or are they a flash in the pan product, something that is not going to be around for a long time?
Are they consumable?
In our first company, they weren’t consumable products. So we were always chasing customers.
Whereas if the company has products that are consumable, your customers are going to get results and they’re going to come back and buy them month after month. This way you don’t have to chase them, you just have to look after them.
Sometimes there are some companies that may have products that are more luxury items. Something to really think about is, as times get tough and financial pressures rise, people will prioritize what’s going to be important to them. If your product is gonna be important to them long term, they will continue buying it. If it is more of a luxury item, they may not, but it’s still important to remember that there are always going to be buyers for luxury items, this is just something to think about when joining a company.
Number Three: Duplicate Systems
Everything in network marketing has to be duplicable!
You’ve got to have a system that somebody who is brand new can follow.
Let’s say a person enrolls today and they’re brand new, they’ve never done network marketing before. They don’t even know what the products do. They’re just excited to be there. What do they do first to get results?
A system needs to be something quick. It needs to build their belief in what they’re doing in network marketing. Belief in the products, belief in the upline, belief in the company.
The fastest way to do that is to get them some quick wins.
For example, a quick curiosity post that they can put up to get customers, but a company has to know how to do that in the right order to get those new people results.
So it’s important that a company has put systems in to duplicate, and if they don’t have those in place, you just have to be aware that you’re probably going to have to build these systems for your own team.
You want to make your team resourceful. You want the system to be the ‘go-to person’ for support.
For example, lets say your team enrolls 400 people. You’ve got to have it so that the person 400 levels below you is getting the same training and they can plug in, that’s true duplication! And it gives those people who join confidence to enroll more people because they don’t need to be the expert, they’ve got a system that they can plug people into.
Number Four: A Compensation Plan
You want a compensation plan that is going to pay you and pay you well.
If you think about it in corporate America, you make a certain salary in that company. Then you maybe get headhunted by another company because of the amazing job you’re doing and they plan on paying you double.
So which company are you gonna choose?
For some reason in network marketing, we’re so attached to the products or our loyalty to that company, so you get these golden handcuffs.
But you really need to pay attention to the compensation plan.
When we first started in network marketing, we fell in love with the products of a company, and they asked if we wanted a discount. That’s the whole reason we got involved in network marketing, we could get our products half off! We started to build a team and then from there we got addicted to the whole process of helping other people.
But when we got started in that company and then later moved to another company, we realised that in the first company we were only making half the percentage that we’re making now!
So it wasn’t very smart to just jump in and go for it.
Remember to think about long term.
Compensation is important and you want to make sure that it’s not just about enrolling, but that you can also get paid really well on getting customers. That’s the whole point of having a team and a customer base and building in a network marketing company, the products move and people get paid. So you want to make sure that they pay generously for both sides of the deal. You want to get the best deal you can get as far as a compensation plan.
Are there hoops that you need to jump through to rank advance?
Are there hoops that you need to jump through to get paid?
As you grow and as you rank advance, is your check going to keep expanding, or are you going to have to work harder and harder to earn the money?
The breakaways are something to really pay attention to.
We remember in our first company, we were building out to a certain volume and once we hit that volume and we created another person like us, it was like true duplication. So we were at the same rank as this other person. And then we moved up because her entire team volume went away. As soon as she hit that rank, it’s called a breakaway.
As soon as she hit that same rank as we did, all of that volume now only went to her and we were left with nothing. And we’d spent all this time helping her build this team because that’s what we were taught to do. We weren’t aware that we needed to be building a new team underneath us as well as building hers.
And doesn’t that sound exhausting?
You just keep building up that to that rank and then it breaks away and you’ve got to go do it over again.
Also remember to be aware whether your volume flushes or banks. Flushing is an important thing to have a discussion about before you jump into a company.
Number Five: Timing
There’s over 1500 new network marketing companies that pop up every year and everybody gets so excited to be first. But can you guess how many companies actually make it 5 to 10 years later?
It’s less than 5%.
So we don’t want to be looking for start-up companies.
We need to look for a company that’s got a stable foundation and that’s in a place where it’s going to grow.
However we don’t want to start in a company that has already done its big thing! Everybody knows about it. We’re not saying that you can’t get into those older or newer companies and make really great money and do really well, it’s just something to think about when looking to join.
There is a lot of pros and cons to getting into a startup. It can all go fabulous, the stars align and everybody loves it. It could even last for 50 years, that is how all the original companies worked.
Then you look at the older companies and everybody knows the big A word. You could get into that company today and still make a significant income.
It all boils down to your work ethic and how bad you want it.
But timing is important.
We like somewhere in the middle with a little bit of stability, but not a 50 to 100 year old company. Think about if we have to talk to our neighbors or run into somebody online and they’re already using the products and love them, then it’s harder to get them to buy or get them to join us because everybody already knows about it.
Number Six: Company Stability
Is the company stable and do they have a long term growth plan?
Have they been around for 5 to 10 years?
Is it financially stable?
Maybe if they are just in a few countries, do they have a plan to expand to other countries but not expand so fast that the company will go under or that they can’t support those countries?
These companies need to have written a plan to show how in 2 years time they’re going to expand to Canada and then they’re going to expand to Europe.
A stable growth plan is important!
Number Seven: Shiny Objects Syndrome
When changing companies or joining another company, ultimately your success is down to you.
So often as coaches we see students and they change company, and then they change company again. And within three years they’ve joined 5 or so different companies or maybe they’re building 5 different companies at the same time.
If you are always chasing that shiny object, your success is ultimately down to you. It’s down to what you do and how you build. It’s down to the action that you take and the discipline that it takes to build your business.
And so if you are always looking outside for the next best thing and you’re forever changing companies or buying different courses and doing all these things and not seeing the success, I would take a step back and look inside and think what am I doing?
Are you taking the action?
Are you being disciplined in what you’re doing?
Or are you just thinking if you start that company, then you’re finally going to see success? But actually it may be down to you.
Imagine you join somebody who is building two companies. You think that this person is going to be here to support you. This is your go-to person that is going to help you with enrollment conversations, they’re going to help you build your business and achieve your dream.
And then all of a sudden you see them building another company, you begin to think they’re not loyal to their team because they’re building two companies.
So if you want a bunch of shiny object people in your team, the fastest way to hinder your success would be to build two companies at the same time.
If you look at any top leader, we don’t know a single top leader who’s actively building two companies or more. You will not find one.
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Before you start an online business First you need to get your mindset totally right.
