Ask Tristram Lodge – MLM Mentor & Coach

Thinking of starting a home based business? – Read this first.

by Tristram Lodge on Jan.19, 2010, under MLM Hints And Tips

 

There are lots of people these days looking to start there own home based business due to the state of the economy, lots of redundancy’s, house prices in free fall etc. There are 100s of different opportunities out there for you to do. But which is the one you should choose. I wanted to write this not to get you in to my opportunity, that’s not what this about, but to give you an insight in to what you should be looking for.

Here are some guidelines that you should be sticking to when looking into one of these opportunities. They are in order of importance and you may or may not agree with them but here is what you need to look for.

1)  The first thing and the most important thing you need to look at is YOU. That’s right you are the single most important factor in the whole business. You are the one who has to the work. Far too many people come into these businesses with the attitude that they are doing the person that introduced them to it a favour by signing up. Let me tell you, you need me more than I need you since you’re the one who needs to make more money or what ever your reason. Also are you prepared to learn new things, do things that you’re not combatable doing, take knock backs and disappointment. Are you prepared to do whatever it takes to achieve your goals, if the answer is ‘no’ then stop reading now and find something better to do with your time.

2)  The second thing you need to look at is why you want to do this business is the support that you are going get from your upline (the person who sponsors you). How is your upline going to help and support you, do they have a system in place that will help make your business successful. If they don’t have a system how do you think your business venture will end. Ask them out right how they develop leads and how they pay for those leads. Good tip here you should never pay for leads. Also Google there name and see what they are up to online, see what kind of person they are, you will be surprised.

3)  The third thing is the training that the company provides. Do they have local and national training, website training, who are the leaders who give the training? Will you be trained about the products and how to build a business. Will your upline show you how to use the internet to bring in business. What resources do they use and do they have a system that you can duplicate.

4)  Find out about the marketing plan and how you will make money. Can your upline train you so that you will be able to stand on your own two feet and make an income.

5)  Next we come to the products, you don’t need to try the products to see if you like them unless you plan on being your only customer. You don’t have to be excited about them or like them, do you think that a man who sells women’s shoes tries the product first, or someone who sells nuts and bolts gets excited about it. The products are there to help solve a problem that’s it. The best thing to do is get your family and friend’s opinion of them by letting them use them and you will get a much better overview of the products. All you really need to know about the products is what are they and can you use them.

6)  Find out about the sales kit. Yes this will cost you some money, there is no such thing as a FREE lunch, get over it. This is an investment in your future, most people will pay into a pension that is more than likely not worth the paper it is written on and not bat an eye lid. Ask what is in the pack and can you use the products.

7)  And finally we come to the company. If your potential upline has a great system in place, a complete training    system, a way to generate 1000s of endless leads and customers, a method to put money in your pocket and is someone who can teach you to become a success then it does not matter about the company. You know what the products are and that they are a successful company then that’s all you need to get started.

These are only my guidelines you need to do what you think is best for you. Enjoy working your new business and enjoy meeting the great people you will meet in the industry. Thank you for reading.

Tristram Lodge.

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  • geraldhoffmann
    I really enjoyed your discussion of how to choose the right opportunity for a home-based business. You make a lot of great points. I have a different opinion on a couple of your points, #5 and #7.

    #5. Unless you are selling a product which cannot be used by your sex, i.e. birth control pills if you are a man or mustache wax if you are a woman, you had better find at least one of the products in your company's product line and use it. Be a product of the product. Otherwise you will be setting up an internal conflict which will cause you to question your own motivations and integrity. This falsity will most likely lead to your failure.

    By the way, there's something else to consider about the product(s) or services you'll be selling - Are the benefits your products or services provide in harmony with your true values? This goes back to the old question that high school students ask as they are about to embark on further education or upon their work life - " Should I pursue a profession that pays a lot of money or one that I have a passion for?" John Maxwell said something at a seminar I was at awhile back that hit home with me. His question was "Should you work on your strengths or work on your weaknesses?" He said to work and improve on your strengths. His rationale was if on a scale of 1-10 you are a 2 as a public speaker and you work hard at improving you might be a 4 or a 5, which still leaves you a mediocre speaker. On the other hand, if you are a 7 as a speaker and you can improve to a 9 or a 10 you can be a great speaker. You will have an 80% chance of success if you pursue something that you're good at. If you pursue something that you're good at and you have a passion for what you're doing you have a 95% chance at success. Passion makes a big difference. If one of your values is "contribution" most likely you can be passionate about helping people improve their health. On the other hand, you'll most likely be a bust at selling paper clips.

    #7. Regardless of whether your potential upline convinces you that he will give you everything you need and despite the fact that you "know ...that they are a successful company", that's not all you need to get started. It doesn't hurt to go a little deeper with your "due diligence" before you jump in. Check out the track record of the company. How long have they been in business? Are they members of any industry trade associations such as the DSA (Direct Selling Association)? Are they a public company, regulated by the SEC? Regulatory oversight is always an incentive to conduct business on the up-and-up. What do you know about the management of the company? Is the compensation plan lucrative, fair, and equitable giving you every opportunity to attain even greater success than the person recruiting you?
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