Entrepreneurial Experiment – Days 4-5
So, as it would happen, life got in the way and I’m a little late on my latest posts. About midday on Friday my wife and I decided to take a mini vacation and head off to Vegas. Some times you just have to pack your bags and get out of town for a bit.
Although it was just a short weekend trip, it was the perfect getaway so that we could just relax and recharge our batteries. We stayed at the Venetian and had the opportunity to lounge out by the pool while the cabana boys and girls served us drinks all day long. Since neither my wife nor I are much into the gambling scene in Vegas, we decided to go and check out one of the shows. Although there were many to choose from, we decided to stay at our mini retreat and go to the Phantom. It was spectacular! I guess they have built a special theater just for it and the sets and stage production was absolutely phenomenal.
Anyway, back to the experiment. . .
My next two days plans were to explore what to look for in a Network Marketing company and to make sure that you are joining a good team. First, let’s examine the company.
As we have already discussed, it is important to do a lot of research into a company before you join it. This is important for a number of reasons, most importantly being able to determine whether you are dealing with a real Network Marketing Company or a Pyramid Scheme.
One good indicator that you are dealing with a “stand up” company is that, when you are doing research, it is really easy to find information. Information should be easy to find either through search engines like Google or, better yet, press release agencies like Marketwire.com.
If you can’t find any information on the company and the website that they give you is full of stories about how much money you can make then WATCH OUT!! You are probably dealing with a poorly structured company or a Pyramid Scheme.
Here is a good test to determine whether the company is good or not. Check and see if it is a publicly traded company. There is one thing that you can be sure of; you won’t find a pyramid scheme being traded on the stock exchange. The SEC (Security and Exchange Commission) is very thorough with the companies that it lets influence our economy. If it’s publicly traded then it’s probably okay.
Also, make sure that you are joining a company that has a good team, and join that team. If your uncle Joe is part of an MLM and hasn’t been doing well because he is a part of a weak team that provides no support, DON’T JOIN HIS TEAM, even if it is a good company. Find out whose team is the best in the company and join that one. If you are serious about making a go at a Network Marketing business then being on the right team could be one of the most important things that you can do. Explain to Uncle Joe and hope that he doesn’t feel too bad. If you do it right and are successful, help Uncle Joe later on and show him what you did. Being on a good team (aka having a good up-line) will also help you get started quickly. It is almost certain that you will need time to learn the product and the system in order to be able to explain it to other people. Having a good team will help speed that process (more on the importance of the team after I have made my company decision).
My next Journal entry will examine the importance of being passionate about the company and the product before you get involved.
On another note, since I have not mentioned it yet, I am also looking at a few more companies. In addition to those mentioned I am also looking at Tastefully Simple through one of my networking friends, Lisa Marie Stelly (www.tastefullysimple.com/web/lstelly), YTB or Your Travel Biz (www.ytb.com) in which I am still looking for an up-line associate, Ethos fuel re-formulator through my friend Bill Schallmo (www.4planetearth.com/home.php?sp=bigbadfuelsaver) and a company called Lifewave (www.lifewave.com) where I am also looking to talk to an up-line associate. More on these products when I make my decision.
Until Next Time!!
The Entrepreneurial Experimenter
EntrepreneurialExperiment@gmail.com