Due Diligence – An Online Necessity
In this vast world of online marketing, there are hundreds of companies which come and go on a daily basis which is why it is more important than ever to perform due diligence. The only person responsible for the decisions you make and the companies you promote is you. This part of online marketing is not easy or fun, but it is a required evil if you want to promote solid products. The only way to know which companies are legit and in business for the long haul is to perform due diligence.
Step 1 To Due Diligence
Find out the company owner. If this information is not readily available, this should be an immediate red flag. You should be able to find out the owners name and if the company is incorporated, or a sole proprietorship, very easily. In most instances, you will find a phone number available which gives you the opportunity to explore even further.
Step 2 To Due Diligence
Find out where the company is located and how long they have been in business. How long have they been at this location and, if they produce a product, find out where is production housed. This will ensure you can put a tangible address with the business.
Step 3 To Due Diligence
Find out as much information as you can from other sources. Ask people who you know, who may be involved with the company, what they think or how have they fared. Find online reviews about the company and the product. Search for any customer complaints and see if these complaints were resolved.
These are a few steps to performing due diligence before joining any company or business. These steps do NOT ensure your success but, by increasing your knowledge, give you a better chance of making an informed decision. There is never a guarantee but, if you perform your due diligence, the odds will be stacked in your favor for success.
“Diligence is the mother of good fortune.” ~Benjamin Disraeli
Hi Cathy,
Thank you for your blog…I can’t wait to be able to get my own with my name and not as a referrer. I value your insight and advice. I have been online for 16 months and am not making much headway…it’s the inability to upgrade…I know this is a vital move in the traffic exchanges, but am working on it. I really wish they would offer the basic sign up a break to earn the money for their upgrades. I have so many exchanges and haven’t figured out which ones are the best…and without income no way to upgrade. Surfing is killing me with no time to dedicate to just a few choice ones. How do they do it…I’m in Click Track Profit and love it, but it’s the same…I’m getting referrals, but no money earned to upgrade. Every site or exchange has different down-lines they want you to follow…how can one person deal with them all?
Sincerely,
Kay Renfrow
http://hotflashhits.com/?rid=277
http://www.bloxtraffic.com/katy4kash
Hi Kay,
Thank you for taking time to comment.
It sounds like you have fallen in to the online affiliate trap.
Many programs look appealing and easy to promote.
The truth is – you need to pick one, maybe two, programs and promote
those only. Become an expert at those first.
If you are promoting a dozen different programs you are diluting your marketing power.
Become profitable by selecting a site you believe in to promote.
Get to know all you can about the site, the owners, the reputation, then promote -
promote – promote.
You should start seeing better results if you limit what you are promoting.
WOW.
Cathy that was great.
With those 3 steps so many people could avoid alot of the BS programs online.
I am glad I have been able to do all three steps accordingly.
Thanks Drew,
Performing Due Diligence is not a fast track way to the money.
I think that is why so many people skip these steps.
I most of the time join under a person that i feel i can trust.
But i will admit i fall short of looking in to all the info regarding the owner and the system it self. The funny part is that i join traffic exchanges Mostly
but now that im starting to explore its time for me to do some Due Diligence
James
Hi Cathy,
I agree wholeheartedly. It’s a sign of a shady company if you cannot find this critical information easily.
Another thing to do is to actually read the “fine print” in the terms of service or agreement. Is it really “fine” print? Is it hard to find? Is it hard to understand?
Reading the details isn’t exciting, but it tells you a lot about the company and their philosophy.
Your three steps above plus this fourth are my steps to due diligence. It’s surprising to me how few companies I’ve looked at this closely measure up. I’m always pleased when I find one.
Best Regards,
Karen (klkuty)
Karen,
Absolutely, thank you for bringing up the “fine print”.
One of the biggest lies told on the Internet is when people click the
“I have read and understand the terms of service” box.
Doing some Google searches on a program name or owner name is also a good way to find out a lot more about a program, a person, a newly launched system or tool, or the latest shiny new money-maker. You can usually count on finding reviews (often with referral links in them), and get “the good, the bad, and the ugly” on anything before you jump in. Searches are also a good way to see how others are “pitching” the program, which is helpful not because you want to copy what others are doing but to figure out a way that you can stand out, be different, and get noticed.