September 2nd, 2010 | Author: lizaimi
Hi guys! Yesterday I came a cross an article written by Dr Charles W King. Charles W. King received his doctorate in business administration from Harvard and is currently a professor of marketing at the University of Illinois at Chicago. He is involved in extensive, ongoing research on network marketing and distributor operations.
According to Dr Charles W King, there are 4 principles that must be taken into consideration before we start any business, especially network marketing business.
Huge Expanding Market
– Identify whether your product or services has a huge and expanding market. It doesn’t matter how good you are, but how big the market is and how long it will be there will make a huge difference in your success.
Unique and Consumable Products
– Your product must be unique in quality to be able to compete with your competitor and must be able to withdraw the attention of consumer in terms of its simplicity. Consumable unique product will give you a non stop repeat order from your customers and that is the key to consistent residual incomes.
Timing
– Watch the current trend of the market. What is the majority of people in your market are looking for. For example, majority of baby boomers now is in the age of 41 to 59. They have the money, what are this group of people looking for. They want to stay healthy, financially secured, they want to look younger etc. So, go for wellness industry, estate planning etc.
Employ others to get more things done. (Leverage)
– You can’t do it alone. You have to get others to help you to get more things done. This is where the concept of leveraging comes in.
Before you start any business, ask yourself whether the business that you are going to venture in is complied with the above principles.
Good luck!
