Finding the Right Program
Looking to invest in a program but having trouble deciding which one? Here are some tips and tricks to help you find success in your investment.
When choosing a program to invest in, the average person is likely to make an investment without fully understanding the program or business they are investing in. It is not uncommon to see someone promoting a program and invest without doing the research to ensure a successful investment. Here is a list of things I believe to be most important when choosing the right program for your investment.
Two Types of Programs
It is important to note that there are two types of programs, or marketing strategies used by these businesses.
First, are the programs that market themselves something like this:
TURN YOUR $37 INTO $25,000!!!
Now, it is important to know how reliable this claim really is. Is the person claiming this trustworthy? Is it a well-known person that you can trust to guide you into a wise investment? If not, then it might be safer to not get caught up in something that seems “too good to be true,” because odds are… it is.
The second type of program is something similar to this:
DOUBLE YOUR MONEY IN JUST 40 DAYS!!!
For this type of program, you need to ask yourself how sure you are that this will work. If you are only 20% sure that it will work, then you need to ask yourself if you are willing to invest some money and potentially lose it. If not, then it’s probably not worth your time.
Risk vs Reward
When joining a new program, it is essential to consider the risk and reward.
RISK: how much you could lose
REWARD: how much you could gain
You cannot consider one without the other. For example, if I am looking at investing $10, but I am only going to make $100 in return, then the reward is not that great. However, if my $10 investment has the potential to turn into $100,000, then the reward is huge. Then using the projections based on a model of the business, you can calculate what the risk will be. If the risk is too high and the odds of success are too low, then the investment is not worth it.
How Much Work is Involved?
If you can double your money in 40 days but you will have to work eight hours a day to do it, it may be better to find a different program to invest in. You will have to judge for yourself how much time each program will take. Some take only a few ads, and others you need to promote. How much work is involved and what is the time commitment for the program you are considering? Does the program fit within the strengths and weaknesses you already have?
There is nothing wrong with picking a program that falls outside of the strengths and skills you already possess. For example, if you choose a program that you must promote but have no experience with promoting a program or business, then it could be a great opportunity to learn some valuable new skills. Selecting a program that plays to some of your weaknesses can be a great tool for personal growth, if you are willing to put in the work to learn new skills in the areas necessary to make the program a success.
Promptness and Longevity
Promptness and longevity are all about the timing and the performance of the program.
Promptly entering into a new program can be a huge benefit. I am sure you have heard the saying “timing is everything…” This can be said for selecting a program as well. If you are investing right at the beginning of a networking or referral project, while there won’t be any record for how the business has performed you can bring in other people with you. This has the potential to give a good return on your investment.
The other side of this coin is longevity. If the program has already been around for a several years and the performance is good, then you can generally trust that it will be around and stable for several more years, thus making it worth your time and investment.
It is also important to look at the future plans for the program.
Are they up to date with technology?
Do they stay ahead of the market?
What is the USP (Unique Sum Proposition) compared with other businesses in the market?
Do they really stand out with something slightly different?
Other Helpful Information
Here are some other helpful things to research before signing up for and investing in a program.
- Do they have a history of making payments on time?
- Do a background check on the owners
- Check to see if the website information is correct and valid
- Google the address and use google maps to make sore the portrayal of the business matches the location
- Use the contact information to talk to the owners (give them a call if there is a phone number listed)
And the best part???
You don’t have to do all this research yourself. Look for reviews of the program on Google and see what other people are saying about it. Or if you know someone who has invested in it, ask them about their experience. Look to see who is promoting it. While this is not necessarily an indication of longevity, if some bigger companies are promoting it, it is probably safe to assume it is a reliable program.
Don’t Put All Your Eggs in One Basket
It’s important to remember that at the end of the day these are still just businesses, and even the best run business is subject to unforeseeable changes. For example, if for some reason Paypal were to shut down, the whole program might end and there would be nothing anyone could do. External factors can cause these businesses to go bust.
For this reason, it is essential that you do your research. Analyze the project by pulling together figures and projections. If you have $50,000 and you aren’t sure the program will work, invest just $5,000. Only act on your logic and put in what you are very comfortable with investing and ok with potentially losing.