Choosing a network marketing company can be a difficult task. There are Literally hundreds of network marketing business opportunities to decide from and you could spend hours, even months finding the best one. Many people who search for a network marketing business will not get past the first step as the amount of opportunities and misleading information presented on the Internet is confusing.
We support you to keep strong, go after your dreams and keep on your journey to finding a home business that is right for you. The optimum way to keep on-course is to read through this article and apply our simple six step process.
1. Where to start?
The Direct Selling Association (DSA) web site is a great place to start when choosing a network marketing company. The Direct Selling Association (DSA) is the national trade association of the leading firms that manufacture and distribute goods and services sold directly to consumers. In fact, you will find 70 different categories of products and services, and over 200 different companies you can potentially choose a home based business from. These categories contain everything from financial services to Animal Care industries.
This means you automatically have a list of 200 companies and 70 different products and services that you could potentially partner your self with. You are not just limited to this list either. There are many more companies in network marketing who are not members of the DSA and there is a good reason for this. So we strongly recommend that you choose a company who is a DSA member for your own good.
2. What do you love to do?
One of most significant criteria when choosing a home based business opportunity is; will you love it? The most successful people in the world become successful because they really love what they do. Donald Trump, for example - property investor, over 60 years of age and still working, not because he needs to but because he loves to, there is a major difference.
Imagine a MLM business where you can wake up in the morning feeling energised and thrilled to go to work. Most people that are searching for a home based business do not enjoy their current employment, under paid or would prefer to be at home with their family. Whatever the reason, you must love what you do.
3. Look for a trend
In addition to working out what you love to do, you must look into the service or product the company has to offer and in particular the opportunity it has to grow. If you do some study into this topic you will find that one of the driving forces behind many of the economic trends over the past 60 years was directly related to the baby boomer’s spending. Why you may ask? Well, the baby boomer period accounts for one third of the world’s population and two thirds of the world’s spending. Leading economic forecasters have used these trends to predict where the baby boomers will next spend their dollars, namely Health and Wellness, and Financial Service industries.
4. Compensation Plan
What you need to look for is a lucrative Compensation Plan that allows anybody to succeed and succeed equally, not just those who are at the top. Personally we are big advocators of the Binary System, not because it is the most lucrative of compensation plans, but rather because it is the fairest compensation plan. If you been in the industry for numerous years and you are a power house, which only accounts for 1% of the network marketing population, then the Stair Step Breakaway plan will be the most lucrative for you, but for the rest of us regular people, we suggest that you stick to the binary system.
5. Choose a solid company
If you are going to put all your blood, sweat and tears into a MLM business, you want to choose a company that is going to be around for the long term. Research suggests that 90% of all MLM companies FAIL within their first 2 years, slightly stronger than a traditional small business where 80% will fail within their first year. There would be nothing worse than putting four or five years into a home business for it to fold, leaving you with no business and no residual income. So we strongly recommend you choose a MLM company that has been around longer than 5 years and is still growing.
6. The Product
There is two criteria that your product must meet, (1) your product must be consumable and (2) would you use it yourself? If the product meets these two requirements then the MLM Company receives a tick in this section.
Once you have finished this six step process, you will observe that you will be able to abolish 99% of the MLM companies and make your decision quite easy. But always remember, even the best MLM deal in the world will not make you wealthy without consistent hard work. We wish you all the best in your journey.
Tuesday, January 22, 2008
Choosing a Network Marketing Company
Estimating Current Market Value of a Pre-Foreclosure Property
When preparing to enter the real estate niche of buying and selling foreclosure properties, it is important to have a foundational understanding of how the values and worth of foreclosure properties are determined. It all comes down to equity. A good working definition of equity is the difference between the current market value of the property and the amount that is still owed on it. In other words, if you were to sell a property and then use that money to pay off the remainder of the loan, the money that you had left over is the equity. This is the most vital piece of information that you can glean from making an accurate estimation of the current market value of a pre-foreclosure property.
As you are working to determine the current market value of the property that you are interested in, you need to keep in mind that there is a difference between a property’s assessed value and its appraised value. The assessed value is the municipality’s assessment of what the property is worth for tax purposes. They use the number to determine what the property taxes should be compared with the other properties that are in the immediate area. The appraised value is what the bank thinks the property is worth. This number is used for financing purposes.
A property’s current market value then, is determined by a combination of factors. If the assessed value is what the local government thinks the property is worth and the appraised value is what the bank thinks that it is worth, then the current market value is what potential buyers think the property is worth. This of course, is ultimately the most important number. As you analyze whether or not a foreclosure property is going to be a good investment, the estimated current market value will be a number that is at the core of all of your studies. If this number isn’t accurate, then the entire basis for you decision will be faulty.
One way that the current market value is useful to you is in determining the debt to value ratio. This is a baseline ratio of how the difference between what the current owner still owes on the property versus what it is actually worth. The bigger the spread on the ratio, the better the investment.
As you complete your due diligence on potential investment properties, you need to become adept at building replacement cost estimates. For every dollar that you need to spend repairing and replacing things on the property to prepare it for resale, you need to consider whether that dollar added to, or subtracted from the worth of the house. While it is often worthwhile to invest some money into improving the properties before sale, you need to make sure that you aren’t putting more into it than you will be able to get back out of it.
Measuring the return on investment is a key component in running any business. This metric answers the question of how much money you are making on each dollar that you spend. It is important to set a goal and then strive to achieve it. If you planned return on investment is only one or two percent, then you might as well put your money in a savings account and save yourself the trouble. If however, you enjoy tracking every penny and want to maximize the power of your dollar, investing in pre-foreclosure properties can be a great tool.
Ultimately, the goal of any investment is net profit. This is the measure of how much you actually made in the deal after all improvements have been made, the taxes have been paid and the attorneys have taken their cut. Being able to estimate a current market value with some degree of accuracy will have an affect on this number, and this is the one that matters most.
Keep in mind as you invest not all properties need to be turned over quickly. The appreciation in value can be greater over a long period of time, and if you are patient you can capitalize on swings in the market. If you buy properties and hold on to them, they will appreciate in value and your liquid assets will give the ability to stockpile property until you are ready to sell.
If you’ve bought multiple properties, the equity value of all of them combined is referred to as equity buildup. The equity that you attain in just one piece of property may not be a very flashy number, but as you accumulate more, that equity value grows. As the equity value grows, so does your purchasing power.
As a final note, it is important to remember that current market value of pre-foreclosure properties doesn’t include the after repair value. Take this number into consideration when estimating your net profit and return on investment. Renovations and improvements can add value to the home, but basic repair costs are rarely recouped.
Friday, November 23, 2007
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