Freeing Dad from the 9-5
"How do I find the right company for me?"
If you are asking yourself this question...GOOD FOR YOU! That means you're not doing what I did and just jumping on the first thing that comes along! I never heard of direct selling as a youngster. All I knew was that Amway was evil and to avoid "The Men in Black, with red ties" at all costs. So what happened you ask? I'm so glad you asked! I was contacted by a co-worker who kept telling me about all these items he could buy from himself through "his own business or his own store" and I finally asked, "what is your business?". Well he was trained well, because he very promptly said he didn't want to try to explain it and that it would be easier to show me over coffee . Out of sheer curiosity and perhaps ignorance....I met him for coffee...that's where he "drew the circles on the napkin". I didn't see the products or the prices. What I saw, was a way out of the rat race. I saw true opportunity which as a lazy 20 year old meant I could have so much more doing way less work! I was hooked...so I signed up and launched my entrepreneurial career into direct selling!
The name of the company was Quixtar. For those of you who have been in the industry you are already laughing...for you newbies...you're wondering, "Why would they be laughing?"....well let me explain....because within a month of joining I attended a hotel meeting where some top rich leader was going to come teach us how to get rich. The event started with a video. The video was an older video. It was a video that was created before the name change of the company from Amway...to Quixtar...THEY GOT ME!!!!
"How do I sort through all the companies promising fast millions, that are claiming to be the next best thing, that is sure to go viral in a matter of days?"
Well as I stated at the beginning of the page, by asking the right questions! That's just basic sales 101...you get the sale by asking questions then listening. See, so many people searching for opportunity, they ask questions, then they ignore the folks around them and listen to themselves. Caught up in the idea of "Get rich quick" they just jump in blindly and end up failing in the end. After doing this 10+ times...I came up with the questions you need to ask...and my answers to the questions. You can take my advice and listen or you can blow it off, but as someone who was made this mistake many times...I pray you will listen and save yourself a lot of time and heartache by learning from my mistakes.
Here are the components that I look for before signing on the dotted line.
1. What is the company selling?
The first question I always ask when someone brings me "the next big thing" is this, "Would I buy this for me and my family as a customer without joining the company or taking part in the compensation plan? I have a formula I like to call, "The Perfect Storm Formula". I developed this over the years and I hope it serves you well. The formula goes like this:
Great Opportunity = A highly consumable product people want or need + A price point they are willing to pay + A simple duplicatable system + Affordable entry fee
So ask yourself the following:
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What is the product and is it something I'm excited about?
*Not excited because, IF I can sell it I'll make millions. But genuinely excited about the product itself. Better yet...are you excited because you've used it and you really believe it's of a quality that deserves the price.
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Is it priced to sell or is it priced to fund a compensation plan?
*Don't get caught in the trap of the unsellable luxury product line! Many direct selling companies simply have to raise the prices of their products to exorbitant amounts just to support their compensation plan, not because the product is worth that amount. A general rule of thumb if the compensation plan claims to make you super wealthy, it's probably because the product is over priced. If you get a gut check when you see the price...you should probably check your enthusiasm, because if YOU reacted that way...when you try to sell that to your friends...they'll react double that way!
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Do they give me simple tools that anyone can use to be successful?
*Simple is duplicatable and duplicability is the key to success in the direct selling industry. You could be the most gifted presentation giver, the most polished and dapper professional with the most elaborate hand made power points, but if your prospect is looking at you saying to themselves, "I could NEVER do what he does." Then you've lost them. Confusion is the enemy of progress. Remember the acrostic K.I.S.S.? Keep It Simple Sweety (that's the Jeremy churched up version courtesy of one of my mentors Angela Hoff)
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What does it cost to join the opportunity?
*There are some great companies out there that come close to meeting the criteria of my formula...and then you realize it costs $500+ to be a distributor! Or you find that you can join with a cheap product kit, but you can't maximize the comp plan and to make the "real money" you actually have to pay $2000 for a kit of product. Which, if you have the money I'm all about, but how many of your friends, if you think about it, can pay the same fee as you? In a lot of cases the cost of entry is simply not duplicatable.
2. Who is Leading the Company?
"Everything rises and falls on leadership." - John C. Maxwell
This should be a no brainer. If the leaders of the company you are looking into partnering with have no proven track record of success that is public knowledge, you should probably steer clear. You should look for leaders who have proven success in the field of service or product you are looking to sell or at least make sure they've surrounded themselves with such people. I'm not ignorant enough to say that a nobody couldn't have a great idea, but a wise man surrounds himself with great people. Research Henry Ford if you don't believe me.
3. If I do decide to join who would I join with and what kind of up-line support would that provide?
This is probably the biggest mistake most young entrepreneurs make when entering the direct selling industry. They don't look at their sponsor's actual track record, they don't look into the up-line support structure and they don't look at the team dynamic within that support structure. Most, if not all, direct selling professionals would say that choosing your support team is probably the single most important aspect of joining any company even over product and price. If there is no one actively building the business in your up-line that will come along side and help you and train you, your odds of success diminish exponentially! When we become self-employed we tend to become "an island" so-to-speak and without proper support, no one can last long in this industry.
4. How old and how many?
This is so important because contrary to what your prospective sponsor might tell you..."Over Saturation" is very real and if the company is as good as they claim, can happen relatively fast so timing is everything. A lot of folks say you need to be in on the ground floor to be successful. Yes and no...depending on the product or service...the ground floor might shift by a couple years, but generally speaking, yes, the earlier the better, BUT! Beware...because it still holds true that most businesses fail within the first couple years. If you are going to throw your hat in with a brand new company, you better dang well make sure that you know exactly what you'll be selling and have a pretty good idea how well it will be received by customers. Trends and fads come and go and so do the companies that bring them to market.
How old? The relevance of that question just depends. But how many is ALWAYS an important question to ask. For example, there was a wickless candle company that started right here in my home town who pursued the direct selling model. They are an amazing company with great products at great prices...because of this...basically, there isn't much opportunity left with them because, and especially here in Idaho, there are about 20,000 distributors who have all but eaten up the local population of customers so finding new customers is a very difficult task. The ones who got in early and built their customer base the fastest are super successful. But people coming on now are struggling to find customers. They may be a well established and reputable company, but is there any opportunity left where you live?
5. What's the company's "end game"?
What is the mission and vision of the company? Where are they going? Do you believe in that mission and vision and is it a mission and vision that matches up with your mission, vision and dream for your life and your family's life? Are they sticking with one product? What's their product/service expansion plan? These are all critical questions you must ask yourself, because part of what we do in this industry, is giving people hope. Aligning our opportunity, product and mission/vision with the dreams of our customers. If you aren't 100% on this, then you shouldn't join the company because your ability to draw the dream out of others, begins with your dream and your belief in what you are doing.