So you are considering starting a home business and you have been looking at the vast array of opportunities out there, but which one do you go for? Do you go for the first one you see or do you carry on researching the thousands of programmes and opportunities with all their HYPE about unimaginable wealth, fancy cars, yachts and constant holidays?
Starting a home business can be very exciting and it can enable you to achieve your financial goals and time freedom. Becoming your own boss is a great feeling and it is not hard to see why so many people look for such opportunities allowing them to work from home. When you start your work from home business you need to be sure that you are on the right track. You also want to be able to see strong profit and growth from your on-line or home based business.
Like any business, they right and wrong ways of getting established. An unfortunate fact is that 99% of home business ventures fail. This is not because a lack of trying on the part of the person trying to change their life, but because of a lack of training and support from their sponsor or mentor.
Let’s be honest, how many people would be able to set up a home based or online business from scratch without any help or support? My guess would be not many and the statistics seem to back this up.
That’s not to say that you should disregard any online business or home based business opportunity. On the contrary! You simply need to know what to look for and do your homework. This will enable you to spot the genuine opportunities from the, dare I say it, ‘scams’.
Here are some tips on what to look for when researching a work from home business opportunity:
1) Full Training and Support: This is the most important part of any business or opportunity that you come across. Look for a phone number to Statistics Example call if you need personal help and support, as well as an e-mail address that gets answered. The company must respond to requests for support. The system itself must be 100% complete and any future upgrades should be offered at no additional cost to you. The system should show you everything you need to know in order that you can make as much money as possible – it should also be easy to follow and in a simple format.
2) Little or No Prior Experience Needed: If anyone is going to successful with an opportunity, then it is essential that no experience is necessary. If you had experience, you would have set up your own program. How can you be successful with no experience? The training and support must be there. The training should be as simple as painting by numbers, with you just following the direction.
3) Marketability: If you are going to be selling a product, will people buy it? How do you know what people are buying? If the business has been operating for a while, then people are still buying the product. If it is a recently released product, then you have to follow your instincts. If you get a feel good factor from the product, then chances are, others will too.
If there are a lot of competitors, you are in a strong market. You just have to learn how be good at selling your product. This relates back to the training and support, which will teach you how to be good. Other programs don’t require you to sell something and in these cases you will be applying another system, but the other criteria is still important.
Another aspect to consider is where you do not have to sell a product. Some of the most powerful businesses simply require you to refer potential customers to a larger company in return for a commission payment. You get paid for each customer you refer and then makes a purchase. This is one of my favourite ways to do business on-line and I always look for opportunities that allow me to work in this manner.
The major benefit of this is that you don’t have to supply the products, you don’t have to worry about customer service, or any of the others challenges that you could face. You just simply deposit the checks you get from your referrals – it is that simple.
4) Company History: Make sure the company you are working with have been around for at least 2 years. Try to avoid “pre-launch” opportunities – if you are going to invest your money, you want to make sure that the business has been working for others for a reasonable amount of time. This should show you that the business does work. You can find out this information by calling or e-mailing the owner and asking them. Don’t rely on forums for your answers as these are often written by disgruntled individuals who quit every opportunity before it has had chance to work for them. Speak to the owner.
5) Income Potential: Is this business or opportunity going to make you money? There are some business out there where you will make a few hundred dollars a month if you work hard. Others will make you thousands of dollars a month within 6 months – these are the opportunities that I target. I went into business to make money, so I look for opportunities that will allow me to do this. I am sure you feel the same. So make sure you can make money! Look at the compensation plan, the earnings potential and ask existing members how much they are making.
6) A Complete System: Does the business offer a complete system? Once you have purchased your business you should be able to sit down, follow the directions and do what you are told to make money. I don’t want to waste time figuring it out. I want to earn money, and so should you.
If you look back to point number 1, training and support is extremely important. In order to make money, you need to find a business with a complete system as well as full training and support that has everything you need in one place. That way you can get straight to work. item
7) Can Be Done Part-Time: T his is important because. Most of the programs available say that they are the perfect part time business. However, the only way to get the results you desire is to work full time. When you are starting out, there is no way you can dedicate all of your time and effort as you will no doubt have another job that is paying the bills. You started a home business to get out of that full time job – didn’t you?
Make sure that you are not required to work 40-50 hours a week to get it going, otherwise you won’t make it. I am not saying you should get something for nothing, or expect to make 4 grand a month without any time or effort, just make sure you can get the business started on a part time basis. That way you can start to produce a solid income that will enable you to dedicate more time.
