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Top Adding - Starting a Home Based Biz? 15 Most Important Questions to ask Your Network Marketing Company
When you invest in a Network Marketing business you are investing in a business that can bring you long standing rewards. But with many “wannabes” out there, how do you identify the winners from the flops?
Following is a list of the fifteen most important questions that you want to ask before you commit to your Network Marketing Company.
Following is a list of the fifteen most important questions that you want to ask before you commit to your Network Marketing Company.
- Is the company in a growing market?
Would you invest in a company that sells obsolete VHS Players? Or would you rather invest in a company that sells hot items that are here to last?
Investing in an item that is part of a trend will ensure that your business grows and remains activ
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
e for many years to come.
But what are these trends?
In his book The Wellness Revolution, Paul Zane Pilzer – economist, advisor to two Presidents of the United States and former vice president of CitiBank - claims that "$1.5 trillion, of the U.S. economy today is devoted to the healthcare business, what he refers to as the Sickness Industry. However, by the year 2010, an additional $1 trillion of the economy will be devoted to products and services that keep us healthy, make us look or feel better, slow down the effects of aging, and prevent diseases from developing altogether.” (; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
But what are these trends?
In his book The Wellness Revolution, Paul Zane Pilzer – economist, advisor to two Presidents of the United States and former vice president of CitiBank - claims that "$1.5 trillion, of the U.S. economy today is devoted to the healthcare business, what he refers to as the Sickness Industry. However, by the year 2010, an additional $1 trillion of the economy will be devoted to products and services that keep us healthy, make us look or feel better, slow down the effects of aging, and prevent diseases from developing altogether.” (; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
.htm">The Wellness Revolution)
Are the products good? Are they effective? Do they have recognition? And, are they something that you would want to buy on and on?
Are the products consumable? Or are they a one time sale?
Repeat sales guarantee that you will get paid over and over again. However, you will only get repeat sales if the products are effective and people want to continue to buy them.
Consumable products mean repeat business. When the product is gone, people buy again. This is what you need to generate residual income. That is money that tri
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ckles in month after month for an effort that you did only once.
What is the company's track record in sales and commissions?
- Is the company publicly traded?
- How are its finances?
- Are they growing?
- How is the company seen in the financial world?
Today it is difficult to know if a company is serious or if it is simply a good idea that a couple of people put together over the weekend.
Knowing that the company you select is publicly traded brings you the confidence that they are being monitored by many people including the F
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
CC. It also tells you that it is a company that has been around for a while and therefore less likely to disappear from one day to the next.
However, just being publicly traded is no guarantee that the company is successful. You may also want to check their ranking in the list of “hottest growing companies” published by Forbes and Business Week.
Forbes and Business Week rate companies on how long they have been in business, their growth and their debts over time. Only the best are considered for this list.
Does the company operate in different countries? And what is their plan for expansion?
How much money do you have to invest to start?
Can you start with only a few hours a week? Or, do you have to quit your current job?
On closing,
Network Marketing is a journey, not an event.
It is an opportunity for anyone and everyone to create a legitimate and expanding business that can provide time and financial freedom. This opportunity is not limited by age, gender or educational background. All it
However, just being publicly traded is no guarantee that the company is successful. You may also want to check their ranking in the list of “hottest growing companies” published by Forbes and Business Week.
Forbes and Business Week rate companies on how long they have been in business, their growth and their debts over time. Only the best are considered for this list.
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
>
Is there a team of people that are willing to help you start?
A network company that has presence in many countries may give you access to a wider market, increased sales and a higher income potential. Check with your Network Marketing company if you are allowed to grow your business in any of the countries in which they are present. Or, if you are limited to operate within a specific territorial boundary.
Network Marketing is about people working together to help each other succeed.
A good team understands that your success is their success. They will help you earn money as you learn, pl
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
an your life around your new business, and develop the skills that you require to succeed and meet your goals.
However, shy away from those people and companies that promise to do the business for you. That does not work. The reason Network Marketing is successful is because you leverage on the power of many where “many people are each doing a little of the work” instead of “only a one or a few people doing all of the work."
In the words of J. Paul Getty – “I prefer to earn 1% of the effort of 100 people rather than 100% of my own effort.” This is what Network Marketing is all about.
Does the company have high quality m
However, shy away from those people and companies that promise to do the business for you. That does not work. The reason Network Marketing is successful is because you leverage on the power of many where “many people are each doing a little of the work” instead of “only a one or a few people doing all of the work."
In the words of J. Paul Getty – “I prefer to earn 1% of the effort of 100 people rather than 100% of my own effort.” This is what Network Marketing is all about.
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
rketing materials available?
Will the company ever sell in stores and therefore compete with you?
The products may be great, the benefits outstanding. However, how do you get them in front of the people in the first place?
Even our closest friends become skeptics when we provide them with information printed on a dirty sheet of paper. Therefore, a good network marketing company will have high quality materials available for you to purchase at a reasonable cost that you can use to promote your product and business.
Imagine investing years of your life creating a network of people that u
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
se your product, only to find that the company you represent has just put a store in the corner Mall that offers the same products you do at a discount.
When you join a Network Marketing company you form a partnership. You and the company are now partners.You agree to use the products and share the benefits with others and they in turn agree to support you and reward you for this effort.
In this win-win scenario, the company saves a lot of money it would otherwise have to pay upfront for publicity and distribution. You create the market. You create the customer base. Therefore you are compensated.
Unfortunately there has been the rare case of compani
When you join a Network Marketing company you form a partnership. You and the company are now partners.You agree to use the products and share the benefits with others and they in turn agree to support you and reward you for this effort.
In this win-win scenario, the company saves a lot of money it would otherwise have to pay upfront for publicity and distribution. You create the market. You create the customer base. Therefore you are compensated.
Unfortunately there has been the rare case of compani
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
es that have used Network Marketing as a means to create a need, a market and customer base. Once the consumer market has been created they chose to sell a similar and competing product in stores. This directly affects the earning potential of their associates who were mislead into believing that they were involved in a true partnership.
Make sure that the company you select will ONLY sell direct (factory to customer) and will ONLY promote through associates or independent distributors (that means you).
How does the compensation plan work? Is it easy to understand? Do you get paid over total volume or are you limited to
Make sure that the company you select will ONLY sell direct (factory to customer) and will ONLY promote through associates or independent distributors (that means you).
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
levels?
In Network Marketing, you grow your business by inviting people to buy products and recommend the products. These people in turn invite other people whom invite other people and so on and so forth. Each of these "generations" of people inviting other people is known as a "level" in your organization.
Although the concept is similar, the number of people you need to invite to get paid and how you get paid is different for each company. And it is important for you to understand the difference before you commit.
For example, some require you to invite 6, 8 or more people in your first level. Others require you to invite only
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
2. Some will pay you over everything that everyone that joins your network purchases from the company, others will limit your commissions to a certain number of levels deep. Some will pay you a fixed rate while others will change the rate depending on the level. Finally, some will allow your down-liners with outstanding performance to "jump" above you in the organization, while others will always respect your position in the network. A good book to read if you want to know about all of the compensation plans is Understanding Multi-Level Commissions by Rawlings.
Does the company pay weekly or monthly? And do they roll y
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
our unpaid points over to the next payment period or do you loose them?
Ask your company whether they pay by week or by month and, what happens to the points that were not paid on a given period.
Some companies will pay you weekly while others will pay you on a monthly basis or until you reach a minimum level. They pay you against an accumulation of points which are a measure of sales generated by your network.
Each company has their own rules to describe how they pay you, how you accumulate points and how you can trade them for cash or prizes. These rules may allow unused points to "rollover" indefinitely giving you the opportuni
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ty to collect on them sooner or later or cancel them out at the start of each period, thereby forcing you to start from scratch.
Is there a limit to your earning potential?
Although not everyone in Network Marketing turns millionaire, Network Marketing is the industry that has generated the greatest number of self-made millionaires.
Why? Because it offers unlimited earning potential by capitalizing on the work of others. And because there is no limit on the size that your organization can reach.
Make sure that the network company you select does not put a limit on this earning potential.
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
As in any business, to start your own Network Marketing business, you will have to make an investment. The question is how high?
Unlike franchises that may require you to invest somewhere between $50 thousand and $1.5 Million dollars, investing in your own Network Marketing business may require you to invest something between $250 to $1000 dollars.
What do you get for this money? Typically it will include a Business Development Kit that is offered to you cost and product worth equal or more the value of your investment.
It is important that you try the products and
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
experience the benefits. As you will only be effective in building a long and successful business if you are convinced that the products work and others see the benefits through you.
Important Note. The initial investment and what you get for it may help you identify a legitimate business from a SCAM.
Network Marketing is a legitimate business. However there are people out there that have developed similar structures which are a SCAM. And you must beware of them.
One clear indication of whether a Network Marketing company is legit is the amount they require for your initial investment and what you get for it. Pyramids and illegal structures will
Important Note. The initial investment and what you get for it may help you identify a legitimate business from a SCAM.
Network Marketing is a legitimate business. However there are people out there that have developed similar structures which are a SCAM. And you must beware of them.
One clear indication of whether a Network Marketing company is legit is the amount they require for your initial investment and what you get for it. Pyramids and illegal structures will
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
either make you pay high initiation fees, or have you pay for things that have little or no actual value.
Anytime you are asked for substantial a lot of money to receive little or no value check them out. This could be a scam.
Do you have to stock up on inventory?
Do you have to take orders and deliver, or is
Anytime you are asked for substantial a lot of money to receive little or no value check them out. This could be a scam.
Network Marketing is about getting the product to the customers, not about establishing a dealership or store through you. Most modern Network Marketing companies will stock up for you. If you are required to stock up or keep inventory you may want to continue your search.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
this something the company does directly for you?
In the early days of direct sales, you had to find the customer, promote, take the order, purchase and deliver. (Do you remember the door-to-door encyclopedia salesman?)
Now a days, there are plenty of Network Marketing companies that will do all of this for you. They will take the order directly from the customer – via phone or internet, process the order, and deliver the product directly to them without you having to intervene.
All you have to do is try the product, feel the benefit of the product, and share the product with others. And very important - get paid.
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
One of the benefits of starting your own Network Marketing Business is the flexibility. You can start and develop your own Network Marketing business with only 5 to 10 hours per week. You choose the time and you choose the place.
On closing,
Network Marketing is a journey, not an event.
It is an opportunity for anyone and everyone to create a legitimate and expanding business that can provide time and financial freedom. This opportunity is not limited by age, gender or educational background. All it
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
requires is for you to be interested, committed to your project, willing to work with others and to help others succeed.
In his book Sticking to it – the art of adherence, Lee J. Colan indicates that “success does not depend upon the brilliance of your plan, but on the consistency of your actions.”
Adherence the ability to be consistent in your actions is the result of
Focus X Competence X Passion
Thereby - Focus, be Passionate, Learn and you will succeed.
Good luck on your search, and welcome to the Network Marketing Business.
To become a success story: Click Here
In his book Sticking to it – the art of adherence, Lee J. Colan indicates that “success does not depend upon the brilliance of your plan, but on the consistency of your actions.”
Adherence the ability to be consistent in your actions is the result of
Focus X Competence X Passion
Thereby - Focus, be Passionate, Learn and you will succeed.
Good luck on your search, and welcome to the Network Marketing Business.
To become a success story: Click Here
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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