So… you have found a potential home based business … Now What ???
There are HUGE benefits of a good Home Based Business.
I have found from experience, the best thing to do when searching for information about your recently found Home Based Business opportunity is, avoid ALL chat rooms and most google search results about your discovery as they ALWAYS ALWAYS sensationalize the negative. (If you search for positive or negative about any topic, you will find it).
These rooms are mainly used to drive traffic to their site and therefore get top ranking as to drive the advertising dollar up, so they make money from mostly fiction with the click thru system.
Exactly the same with most news programs. High priced primetime advertising due to the magnetic attraction of negative news, is a perfect example. We humans are a weird bunch….
eg. CNN (Constantly Negative News)
Only YOU can determine what is your idea of fact or fiction in a home based business op by doing your due diligence. Don’t let a complete stranger influence your decision.
Talk directly to the boss.
If you can’t talk with anyone, move on.
Ask questions like,
1) What are the Startup Costs compared to the potential results for this Home Based Business Opportunity?
How much are the start up costs for the home based business opportunity you’re considering? Are there ongoing costs? If so, what will they entail and how much are they?
This is especially important if you don’t have much money to invest. Some businesses have ongoing costs in maintenance, so you want to get these questions answered.
All business that are worth you time and effort require financial committment.
eg. 1 million dollars plus for a McDonalds franchise.
2) What Kind of Training and Support are Available with the Home Based Business Opportunity?
The training and support offered by a company will make a huge difference in your success, providing you follow exactly and do not try to re-invent the wheel.
Do you have a quality sponsor and upline with good ethics and leadership skills? Are they dedicated to helping you succeed?
If the training materials and company leadership are good, you will grow your business faster and it will be easier to succeed.
3) What are the Rules for Advertising and Promotion?
Many home business opportunities have rules regarding how and where you can advertise. In some cases you may have strict limitations, and in others you may be able to do more or less whatever you want. For example, the company names are often copyrighted and/or trademarked and therefore you are not allowed to use them in advertising without permission.
All reputable businesses have these rules to protect their integrity.
4) What is the Realistic Income Potential for this Home Based Business Opportunity?
Tip: Don’t ask what the average is because, you do not want average results.
Just remember in every business in the world, it is normally 5% of participants who really apply themselves, who get the big bucks. Do exactly what they do.
Some businesses have considerably more income potential than others and before you invest your time and money into any home based business opportunity, you should understand how much you could realistically expect to make. This means studying the compensation plan and running the numbers. Always follow the system to the letter otherwise you may make zero, while others are making a bucket load.
It’s also important to understand your breakeven point and how long it may take for you to reach the level of income that the home based business opportunity claims is possible or that you’ve set as a goal.
Make sure you make your committment years, instead of weeks like a lot of people do, and then say, “this doesn’t work”. 3 feet from gold.
5) How Long Has the Company Offering the Home Based Business Opportunity Been in Business?
A brand new company has no track record and it can therefore, be unstable. A company that has been in business for more than five years has financial stability. The company I am with is now worth $170 million.
Check if the company is in the Direct Selling Association, which requires a level ethics and standards for member companies.
6) What Products or Services are Involved with this Home Based Business Opportunity?
What are their products like? Are they high quality and worth the price? Would you buy them even if you weren’t associated?
But also remember you must be a product of the product before you can recommend it with confidence.
Is the product consumable requiring customers to reorder on a regular basis? Consumable products create more stability and regularity of income due to repeat customers. Non-consumable products can only be sold once and then you have to go out and find more customers.
7) Are There Quotas or Minimum Inventory Requirements for this Home Based Business Opportunity?
If you are required by the company to buy a large quantity of products on a regular basis then it can be difficult to maintain the business or it can be financially stressful if you need to temporarily stop working your business. The last thing you want is a basement full of unused products. While it’s nice to have a little bit of inventory, be wary of any company that asks you stock a huge amount of product. I would run away.
8) Are the Products or Services that this Home Based Business Opportunity Will Offer Affordable?
Affordable is a funny word. You ask, affordable, according to who and compared to what.
Affordability is always governed by your idea of value.
A good reputable company will always offer a try before you buy or a money back guarantee.
BUT…. make dam sure you apply yourself to the business 110% otherwise you will never know the true benefits.
p.s. More interesting reading on my other blogs.
Live Free Retire Wealthy for those who want an easy life. Start now otherwise time will be your enemy. I say this from experience.
More Time to Ride for the horse lovers
Best Ever Home Business for those looking for a Brilliant Home Business Opportunity. This has been going for 7 years now and counting.
and Best Ever Home Business prosperity of life blog