12 Success Factors to Building a Business with Lifetime Residual Income

Which one would you be willing to leave out and still put in your time, money and effort with building a business from home?








1. COMPANY TRACK RECORD
> Most companies fail within the first 5 years
> Company MUST be in business a minimum of 5 years (10 years or longer preferably)


2. FINANCIALLY SOUND
> Company needs to be financial healthy
o Debt free is preferable


3. STRONG MANAGEMENT
> Strong Fortune 500 style management
> Company should NOT be ran by MLM people -
o They own the down lines and start making decisions to make themselves wealthy off the backs of everyone else

4. UNIQUE CONSUMABLE PRODUCTS           
> Products must be highly consumable by ALL
> Products people are already buying
o No new money being spent




5. COMPETITIVELY PRICED
> Products must be considerably less expensive than the stores they are already shopping at
> Great value in being a customer



6. HIGH MONTHLY REORDER RATE
> 95% or more of your customers shop every month
o This is with BOTH business builders and customers
> If people aren’t ordering, they quit
o There needs to be overwhelming value to be a customer and stay ordering whether or not they’re making money


7. LOW PERSONAL PRODUCTION REQUIREMENT
> Low monthly order requirement with NO monthly quotas
o No matter what position you advance to in the company



8. LOW COST TO START
> Very low cost for anyone to join *Under $50.00
o No buying inventory with their membership fee
> The enroller should not be paid a bonus on this fee


9. LOW ATTRITION
> If people are quitting, theyʼre NOT ordering
> Must be overwhelming VALUE to be customer whether people are making money or not
o This is what creates life-long residual income



10. TIMING
> No ʻground floorʼ deals
o What happens when itʼs no longer “Ground Floor”?
> Bad news travels fast
o This is why most MLM companies get a bad name -
o When people get hurt and lose money, they tell everyone they know





11. NO BREAKAWAYS / BINARY
> You should NOT be penalized for enrolling someone better than you
o You should not lose a person (business partner) because they do better than you
> Leadership development should be rewarded... not penalized
> Company should be built on a sense of gain... not a fear of loss
> Many MLM companies today use Binary Plans
o They really go against SOLID business principles
■ They reward the non‐producer in order to get paid



12. NO RISK
> There needs to be a 100% Money Back/Satisfaction Guarantee... no questions asked!
o It needs to be safe for everyone! Both customers and business builders.



One other important tip: Ask for printed, documented, annual income statistics as well as a documented monthly re-order rate. If that is not provided, consider that a red-flag that you should be concerned about. When considering starting a business, you NEED to know the numbers!

Please “like”, tweet and/or share on FaceBook. Also please share you comments and thoughts. I always love hearing from you!

If you have any questions or want to discuss these factors with me personally, feel free to contact me any time at: [julie4js@msn.com]
http://www.startupyourdreams.com



To your success!



1 comment:

  1. These were really so helpful to me. As a stay at home mom I really didn't know where to start. thank you and I'm looking forward to watching the webinar :)

    ReplyDelete