How can you decide to trust someone in business? Prior to making a decision to become self-employed, I am sure it’s a question that everyone asks themselves. It’s certainly a question that I focused on prior to choosing my current business vehicle of Forever Living Products.
The first step that you should take before deciding to place your trust in any one is to conduct some independent research.
By the term independent research, I mean two aspects. Firstly, you should take some time to look into the company and reach your own conclusions.
Some of your research questions might be:
- How long has the company been around for?
- What is the published turnover of the businesses?
- What statements do the company make about any debt they have?
- How long have the products been around for and what sort of reputation do these products have?
- Can “like for like” products be reliably sourced elsewhere?
- How much evidence can the company present about their people enjoying sustained success using the business vehicle?
- How visible/accessible are the main Directors of the company?
- Can you speak to/meet the successful people and see evidence of their success?
What does the published research reveal?
The second type of research revolves around seeing what well known and respected business people, research bodies and trade associations have to say about a particular industry sector.
As an example of the research that I encourage people to consider for my industry sector, the World Federation For Direct Selling (WFDSA) reported that the sales volume generated by its members in 2015 was $184 billion.
There were also a reported 103 million direct sellers in 2015. This reported number of direct sellers does not include those who are in China, as this country’s figure was not reported.
This global sales volume in 2015 represents a 7.7% growth from the previous year in constant Dollars.
Asia-Pacific remains to be the world’s largest direct selling region, with a 46% share. Among the other regions, Europe has been the fastest-growing in the last four years, growing from 16% in 2011 to 19% in 2015.
In terms of product categories, 2015, the wellness category was the largest one globally, enjoying a 34% share. The cosmetics category produced 32% of the volume. Household goods and durables accounted for 11%, and clothing and accessories for 7%.
Making sense of your research
As you consider the above research findings, you might get a flavour for why I consciously chose to operate in my chosen sector. This choice of sector has definitely contributed to my success. In simple terms and to use an analogy, I feel that I am swimming in prosperous waters, where my prospects of success are greater.
The next time you go the supermarket, take a walk down the wellness products aisle and consider how much the product range has grown over the years. People’s desire to look good, feel good, live longer and be more energised during their life has grown to amazing propositions, and this thirst for wellness products shows no sign of quenching. As science and research evolves, the trends are clearly revealing that we will only see more intelligent wellness related products. I simply cannot see myself working in any other industry sector.
As you conduct your own research, you will inevitably find some negative feedback and reviews about specific companies and certain industry sectors. This is the case for some of the world’s most respected companies. You will need to demonstrate the ability to sift through some of what you read and decide where the most convincing evidence sits.
In my experience, a lot of negative feedback in my industry derives from individual stories - the experiences of people who could not find a way to make a business work. There are bound to be stories like that. The world is not made for every person to find success in everything they do.
So, as we conclude this story and revisit the question that we opened with:
“How can you decide if someone is trustworthy in business?”
For me, the answer is simple. The answer revolves around the gathering of credible evidence and then reconciling how this should shape and influence your decisions.
I can certainly vouch positively for the Direct Selling and the Network Marketing industry. If you take the time to click on some of the hyperlinks I have added to this Blog, you will see the evidence as to why this industry has my confidence and my loyalty. The facts and the statistics speak for themselves. My chosen career path may not suit everyone but there are many operators in this industry that you can trust.
About the Author
Julianna Beavan is one of the world’s most respected Business Coaches and Network Marketers. With a proven track record in helping people to take better control of their financial and lifestyle circumstances, via exciting options that exist in the health & wellness sector. Julianna is often commended for her inspiring coaching style - never neglecting the important human aspects of being warm, supportive and humble towards all those who approach her with a serious business appetite and the discipline to succeed.
If you would like a totally free and no strings attached personal consultation with Julianna, please make direct contact via the link below. Julianna guarantees you will you have an opportunity to consider working directly and personally with her.