This article describes how long you can expect your business to last depending on your drive and motivation. So what should your expectations be on MLM home business success?
A common question I get asked is if I have heard of company ‚x‘ or company ‚y’… then the next most common question is based around how long I think they will last in this competitive environment.
Some great questions no doubt… but it is almost impossible for anyone to know how long a company will last, we can only assume these things.
Just in the weeks prior to this article being written two of the Worlds largest corporations, General Motors Corporation, and Ford Motor Company, had their credit ratings downgraded to junk bond status by the industrys credit and investment rating services such as Standard & Poors and Fitch Ratings. And of course many people will remember Chrysler Corporations brush with near bankruptcy in the 1980s.
With major airlines, Sears, Kmart… and many more companies in many other industries experience tough times, it could be said that times are grim at best.
If you need an example closer related to the home business industry, how about Excel Communications, who became one of the most successful home business companies in American history, only to end in bankruptcy because of corporate greed and mismanagement.
It’s certainly not all doom and gloom, with 99% of the above companies mentioned still in business. So don’t fret, there are still positives to be discussed.
The purpose so far has been to show that no company is immune from ups and downs, regardless of size and time in business. This doesn’t mean that you can’t stack the odds in your favor, because a well managed home business can do exactly that!
Not only can it be difficult to judge such things as company products, services, and management… but even these factors aren’t as important as the test of time.
Choosing a company that has been in business for at least 2 to 3 years immediately stacks the odds in your favor. Sometimes in can benefit not to chase those risky startups and pre-launches that everyone is so fond off.
The statistic that most new businesses fail applies to businesses of almost every type, in absolutely EVERY industry. However, once a business is no longer, ’new‘, after it has proven that it can survive beyond those first critical years, your chances for continued success increase exponentially over time.
Bumps in the road are natural, and should be expected, the good news is that history shows plain as day that the longer you are in business, the longer you are likely to survive and be successful in doing so.
And then also many people become so wrapped up in the hype, emotion, and sometimes even greed (of promised skyrocketing profits due to being in on ‚the ground floor‘) often associated with new companies that they throw all caution aside and jump in anyway. If you choose this path, be sure to weigh up the potential rewards, versus the higher risks involved.
Picking a company that has passed the test of time will stack the odds in your favor to succeed with your home business venture. That is the best analysis you could ever do before committing to any opportunity or business.
Is there a guarantee that any company will be around for the next 50 years or so… absolutely NOT! Can you stack the odds in your favor that this will be the case with your chosen home business opportunity… absolutely YES!
It’s up to you now.