The Best Home Based Businesses
Even before the economy started to collapse millions of people all over the world were looking for the best home based business.
In the first 10 years of the 2000′s working people throughout the world have had a massive paradigm shift. The new belief is that when it comes to career issues, true security is only attained by those who escape the corporate jungle and fire their bosses.
As a result in this increased awareness, a lot of people have started assessing the best home based businesses in a quest to find something inline with their passions and the money they have available.
The first question a person should ask themselves is this: “Am I really looking for a business?” and if so ” Why”
What is the primary motivator that will cause you to take action?
Many people get caught up in the idea of having a business of their own without really addressing these questions and that can be a fatal mistake!
In a lot of cases, it is just lack of forethought. To embark on any business venture today you will be required to have some level of start up capital.
Look, if you are a person that is having a real tough time making ends meet, if you are finding that is too much month left t the end of the money and you cannot take care of your bills- wake up!. You do not NEED a business in your life just yet. You need a job or another job. UNLESS and this is a big one, unless you have access to some capital because someone is going to give it to you or loan it to you or you have good enough credit to fund the start up of a business.
So, if you still see yourself as a candidate for a home based business, listen very carefully to what I am going to say next. I can tell you from years of experience that if you ignore this one piece of advice you will be well on your way to disaster.
Do not even consider leaving your job until you have seen a minimum of 6 straight months where your home business income exceeded your job income.
Regardless of your business of choice, MLM, Direct sales, Internet marketing, affiliate marketing the same applies. This rule is one that should never be broken, period.
Sure you want to fire your boss and escape the rat race and all that good stuff. But, if you don’t want to find yourself crawling back in a few months or scouring the job boards again, head this piece of advice and heed it well. The most common bad decision made by home based entrepreneurs is trying to go full time too soon.
Take this into account. A person who correctly follows a system and is unable to make money on a part time basis is unlikely to get better results by just doing more work! In truth, you can build a good income stream in 15 to 20 hours weekly of consistent part time effort as long as the time is properly focused. The necessary time can be found by giving up things that don’t produce income, like TV or hobbies.
Wouldn’t you give up some stuff for a year to change your future forever?
Surely you cannot say “No” to that?
Fine, so you are still a candidate. You know you can find the funding you will need, you don’t mind giving something up to find the time to do your business and you will keep your job until you get success over time. Now you can filter your options down to the ones that are desirable enough to be considered as possibilities.
Next, select a type of business. Internet and affiliate marketing are not a good fit if you are a “people person” or if you are not too hot on the computer, you will end up frustrating yourself. Meeting one on one with prospects or working on the phone a lot fits well with Direct sales and MLM programs. In the same vein, the “Premium product” elite direct sales programs should be avoided unless you know that you have adequate money to enable you to participate as well as doing the lead generation and marketing.
If you have computer skills and want to avoid talking to people at all, you will want to focus on learning Internet marketing and selecting some affiliate marketing programs. There is a myriad of information available on these subjects which you can access with a simple Google search. be warned though, it is definitely a ‘buyer beware’ environment. You are encouraged and advised to do some serious research before getting in to deep.
Network marketing or MLM as it is often called has a low entry point and suits a lot of folks because of that. However, you will still need some cash for advertising and marketing. Usually if there is no marketing, there are no sales and no sales equals no income!
Be sure that the people you will be working with provide training and have a system in place that has a proven track record of success.
Network Direct sales has emerged over recent years as a popular ‘hybrid’ combination that has some of the elements of a franchise without the massive financial outlay because it is still run as a home based enterprise.
There is the important “relationship building” aspect of MLM that people like. Additionally though, people view it more like a “real” business as large commissions are achievable through direct sales of upscale more expensive products. As an example, travel programs or personal development seminars held at exotic locations.
For the people with the money to get the products as well as funds to do advertising and marketing, the lifestyle and income level afforded by these programs definitely get them included on the lists of some of the best home bases businesses available today.
These choices should never end up being simple! and you should not rush yourself into a decision. Finding yourself being pushed for a decision is a big red flag and if people won’t give you tine to get your questions answered. don’t work with them! they are definitely to be avoided.
The business you choose needs to fit YOU . Just try answering out loud the ‘what do you do”? question. What kind of emotions would come up as you answered the question about a business you are considering. How would that feel to you; does it make you feel good? If it doesn’t then keep on looking.
Look at the products that you will need to sell, make sure it is legitimate. Remember if there is no bonafide product it is likely an illegal program so avoid it!
Are you excited by the product? Does it fell right to you, can you be proud of it?
If you wouldn’t, and you would have any reluctance in putting your name and your reputation behind it, do not do it. It is simple enough but so many people make the error
“Well the product is not up to much, but they have a great pay plan!”
A sure route to failure is to consider the comp plan before being happy with the other areas.
Just make sure that you really do believe in what you choose to do. You can’t get by “pretending” that are passionate about something, that is just silly.
Unfortunately these days, most people do make their decisions too quickly and end up joining something because their friend likes it or they knew someone that was getting success. These kind of emotional decisions do not bode well in business. To have ANY chance of success, do your due diligence and be as certain as you can that you are choosing wisely.
Be certain that all of the ingredients on the check list are definitely there.
1. Is the product something I will be proud of and will it deliver the value to others?
2. Is is my kind of business? Does it suit me? Do I feel good about it and excited?
3. Does the management/ownership of the company have a proven track record? It does not matter if it is a new business but you don’t want to be the guinea pig
4. is there a system in place? It is systems that make businesses work. Ask to see what tools are available and what level of support and training you have access to. Beware though of the “we do it all for you” claims. This is a big red flag. Any business that claims that you will not have to work will turn out not to be a business so rather then just gamble in the stock market or on real estate. Real business always require some work, end of story.
5. Is there a fair and rewarding compensation system? This is left until last because if all the others are in place , the money will usually take care of itself. Do not fall into the trap of wanting to become a compensation plan expert. Doing that, often causes people to focus on the money above everything else and as we have discussed, that is dangerous . It is easy to make a compensation plan look lucrative , but if the other factors have not been properly addressed, the company will not survive and your efforts will be wasted.
If any of these 5 ingredients are not in place keep searching until you find a situation where they are. Then you have a starting point.
Then it is up to you to take action, just remember the golden rule; make a commitment to work your business for a minimum of 1-3 years and whatever happens do not quit – quitting is the ONLY way you can fail.
Be realistic, if you cannot give that level of commitment, don’t waste time or money on getting started because you are sure to end up not succeeding.
Use the benefit of someone else’s mistakes so that you don’t have to make them. A bit of common sense now will save you from making big errors later.
Want to find out more about The Best Home based businesses, then visit Frank Atkins’s site and find out why Frank is uniquely equipped to help you to select thebest home business for your needs.