The 5 Critical Elements That Make Up A Successful Opportunity
Many people are unable to discern the difference between a good opportunity and a bad one. When an opportunity presents itself, we have to be able to determine if it is a good opportunity, one that will move us closer to our goal, or a bad opportunity that will move us further away from our goal.
Everyone says they have the best greatest opportunity, the best compensation plan and the most amazing products. So how do you know how do you pick the right opportunity for you?
Every company or opportunity is made up of five critical elements. Company, product, compensation plan, timing, and training and support. If two or three of these elements are missing it doesn’t matter how good you are or how hard you work. Despite your best efforts you’re going to struggle. It’s when all five of these elements come together that the magic happens, and fortunes are made.
It’s important to have a solid infrastructure with an experienced management team. It should be well funded and debt free is ideal. Two of the of the biggest reason’s companies fail are poor management or undercapitalization. No matter how impressive the product, your company is not solid if it’s built on a house of cards.
Products need to meet a huge market concern. They must be affordable and highly consumable. Ideally, they should be unique or different or breakthrough in their category. If a product can give some immediate the results can be even better.
Every company claims that they have the best, most lucrative compensation plan. The reality is that every company has about the same money to pay out, somewhere between 40% and 50% of revenue. The key question you should be asking is. “Who gets the money and what do you have to do to get it”? Many companies have hurdles and hoops that make you fill their garage with product to stay qualified for rank. I always say, “People don’t quit network marketing because they are not making enough money they quit because they’re losing money”.
Every company claims their timing is perfect. How do you know the timing is right? Timing is a factor of numbers and there are only two numbers that matter. “How many distributors are there and what’s the sales volume”? The short story is if either one of these numbers is too big you’ve missed the prime time in window. I’ve studied this, and it is very predictable. Although timing can be incredible in a startup company the risk is very high. A startup company is banking on what could happen with no actual evidence or proof that it will happen. Statistics show, unfortunately, that most companies fail within the first year and they dash the hopes and dreams of their people. The best time is when a company has made it through that first year and now they are doing a few million a month in sales. Now they have proof of income, product success stories and they’ve crossed that threshold of risk. Most of their growth is still to come but they have made it through that high-risk threshold. I believe this window, what I call the sweet spot. is between two and ten million per month in sales. The ideal is to build a huge base in this window so when the company hits that third window. which is critical mass you’ve got a huge team to capitalize on that vertical movement. This is when you have overwhelming evidence that the products work, and you can show real income potential. Now success is possible, and the masses begin the pour in.
Training and support:
Every successful company has a system whether it’s network marketing or a traditional business such as McDonald’s.
- -What is the system?
- -Is it simple and easy to understand?
- -Does it lead to duplication?
- -Are there tools in place to support the system?
- -Are the company and/or leaders charging a lot for the system and tools? I call this, “Mining the miners”. In my opinion the tools that support the system should be put in one’s hands for as little as possible to help the everyday person build an organization.
Having the right components in place means that a company has a good chance of being successful. These factors are critical for your success.