What is a “5 Pillars” company?
It is the 5 critical points YOU need to make sure a company has in place to
guarantee YOUR success. Do your due
diligence and research to make sure the company you are interested in has ALL
of these points before you sign up.
It’s real easy to find out if the company you are considering has 5 Pillars.
Google is the perfect tool for your research, put it to use! Do your research! The
decision you make to join a company is life changing. It affects your family, your time and your
income. You need to look past your
excitement and the emotional state you are experiencing and make a solid
decision based not on feelings or a gut instinct, but a more logical view. This is a BIG business decision and you need
to look at it as such. So please, do
yourself a big favour and do your homework.
Your next question is no doubt, “What are the 5 Pillars I should be looking
for?”
Pillar 1. Company Management Experience with Integrity!
What kind of a person are You? Do You
believe that in order for You to be successful, you yourself must have
integrity?
If you answered “Yes”, have you thought about the integrity of company
management? Do you believe the company management’s integrity is just as
important as your own?
Do a simple Google search on the company owners. Put their name in the search bar surrounded
with quotation marks. Try putting the
word “scam” behind their name. What do
you find?
Consider this. When a company is
built by an owner who has also built a large business or downline, you could
call them “Distributor minded”. They
will be more mindful that the pay plan will be good and it will be easy for
even part timers to build a business with them. They will understand the
importance of care and support for the marketing members.
When a company is built by Fortune 500 executive types, and they have not
been in the distributors shoes themselves, they will be more “business minded”.
In most cases these companies will not last and the pay plan will be designed
to pay the company not the Distributors.
Another thing you really must take a good look at is the company’s Policies and
Procedures. If the P&P’s are short
and to the point, then there is low overhead.
By which I mean that the cost to run the company is minimal, which will
allow the company to provide a much better payplan and pay out more money to
the distributors! Companies with high overhead always have a long, long
Policies and Procedures. These are the
kind of Policies and Procedures that even a lawyer would dread reading
Mark my words, these companies will not pay you well. Here is another search to try. Look for the company’s products on Ebay. How much cheaper can you buy the products for?
A lot of people shop on Ebay and if they can buy those products cheaper they
will!
Pillar 2. Timing in the company, Timing in the industry!
99.2% of new companies do not survive the first 2 yrs after they
launch. They have great difficulty
surviving their growing pains. Where
will this leave you the distributor? One of the biggest issues that they
struggle with is that they struggle with software problems. It is very
important that a company own the software not just rent it. It is only logical that they need to be able
to perform the maintenance themselves and any up-grades or tweaks that they
need. If they have bought software from someone else, it is never that simple!
It is always a better idea to join a company after it has been up and running smoothly
for over 2 years so you do not end up being their guinea pig!
Pillar 3. A Fantastic Product!
Okay, this topic usually makes people get a little excited, but it needs to
be addressed.
Have a good look at the product and ask yourself if you yourself would buy
this product if there were no business opportunity involved? Then ask yourself,
if there is a retail price on the products for customers and a separate discount
given to people who join? What is the real price of the product?
Now for the tough question that most people do not consider. What type of behaviour does this type of
business model create? It creates the
“recruit, recruit, recruit” behaviour. If you are recruiting, recruiting,
recruiting you’re just building a paycheck not a long lasting residual income!
There simply is NO residual income in recruiting!
Retail sales should be the life blood of the company. 74% of your downline
will be product users only.
Pillar 4. The Compensation Plan!
What constitutes a “good pay plan”?
My answer to you is one that pays the most, for the least amount of
people, in your organization! Does it pay part-timers? How much money do you
make on a retail sale? If you are being
paid 7% or less on the retail price, it will take you out of the game!! Do you
want a simple formula that will show you exactly how many people you need in
your organization to make your desired monthly income?
Figure out how much money you make per person , per spot, and divide that by
your desired monthly income! That simple formula will give you the exact amount
of people you will need in your organization to make your money! Will you be
able to build it that big and to help them build theirs to so you can maintain
your organization? Do you know your
Compensation Plan and how to get the most out of that plan? Are you allowed to place people? What type is it? Find out what the pros and cons of this type of
compensation plan are?
Pillar 5. Systems for Success!
Are you ready for the cherry on top?
What is the pillar that will keep your organization really strong and make
it possible to last years? You MUST have
a duplicatable system.
You must know and understand that people are NOT duplicatible but systems
are. Every new Distributor will ask themselves, “Can I do this?” and can you,
will you, help me?” If you think that network marketing is a sales business,
then you need to rid yourself of that notion right now! It is NOT a sales business, it is a
relationship business! People join people, they do NOT join companies!
If you can determine the company you are looking at has this complete
package in place, you will have great success.
If it is lacking just one, two or more of the above pillars, then you
must decide for yourself if it will be worth your time and money to invest in
that company.
Being a business mentor I can help guide you through the steps in spotting a legitimate company
that will pay you for your efforts of building it BIG and building it ONCE and
that will be there to pay you, your children and your children’s children.
Download the ebook below and let’s get started
Henrietta
TheMentoringMom
