Prior to the current economic collapse, people worldwide were already searching for the best possible businesses that were home based.
The first decade of this 21st century has seen considerable changes taking place in the global workforce. People have come to realize that the only ‘real’ security when it comes to careers is found in being your own boss and escaping the corporate rat-race.
This up-surge in the entrepreneurial spirit has resulted in many people trying to identify the best home based businesses that would fit with their interest and their lifestyle and budgets.
An important question to ask is “Do I REALLY want my own business?” if YES, what is the reason?
Is there a big enough “Why” to drive your success?
Often, people are enamored with the “idea” of a business and make the deadly mistake of not getting themselves to answer these questions!
In many instances they just do not think it through. You see, to start any business today is going to require you to have some money to start with.
In reality, if you constantly find yourself in the situation where you are worried about money and have trouble meeting your obligations. The last thing you need at present is your own business. You have to adjust your priorities and resign yourself to generating income from paid employment. The only exception to this would be if you do have savings, or access to capital through your good credit or generous family or friends.
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.
I do not care if you are doing internet marketing, MLM, affiliate marketing , direct sales, it does not matter. This is one golden rule that should never be broken, end of story.
Look, you want to tell your boss to take a hike, you want to get off the hamster wheel once and for all. The things is, if you don’t heed this pearl of wisdom you are going to end up in the classifieds again in a few months seeking a new job. Going full time too soon is the death knell for more home business owners than anything else.
Consider this fact. If you cannot make money at your business on a part-time basis what makes you think that having more time is going to change things? It will not. The fact is, you can build a good income level with most home based businesses by consistently doing 15 to 20 hours per week of income producing activity. Most people spend at least that amount of time stuck in front of the television OR they are using up time with some hobby or other interest.
Is making a sacrifice for a year or so worth if for permanent freedom?
you have to say yes to that one.
OK , so you are still on the hunt. You can get access to the necessary resources; you are prepared to sacrifice something to make the time available and you won’t quit your job until you can show some sustained success. Now you can start narrowing things down so that you have just a couple of viable options to choose from.
First off- choose a style of business. Do not choose Internet marketing or affiliate marketing if you like working directly with people. Also if you have minimal computer skills you are going to find anything in these fields a daunting task. If you like being on the phone or face to face with people, MLM or Direct sales could be a good fit for you. Similarly don’t chose a high ticket direct sales program if you do not have the financial resources available to get involved in the business and do the necessary marketing to make sales.
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.
Multi level or Network marketing (MLM) is a great choice for most because the start up costs are low. Make no mistake though, you still have to have adequate money to do some marketing. No marketing means no sales and therefore no revenue.
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.
in the past few years, Networking Direct sales has emerged as a popular hybrid business model because it offers the best of both MLM and Franchise business but does not have the high start up costs of franchises and can be run form home.
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.
When a person has the necessary resources to not only acquire these products, but also, to fund the advertising and marketing that is required. The income level and the lifestyle that it makes possible is such that these programs are usually on the short list for the best home based businesses.
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.
You have to find YOUR business, the one that feels right to you. If you answer out loud to yourself the question “What is it that you do?”How does describing the business you are considering make you feel? Is it a positive emotion that is created? If you don’t get the warm fuzzies, keep searching.
What about the products you will be selling?. Look, you will have to be selling something!. If you are not, you are going to end up in some pyramid money scam , so again, move on.
Do you feel committed to the product? Can you feel good about showing it to anyone?
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!”
Look, if you consider the pay plan before checking out the other boxes you are setting yourself up for failure.
Once you choose your business, you will need to demonstrate a genuine passion. False excitement is easily discerned and just plain pointless.
Many people do still impulsively jump into anything they are offered and usually for all the wrong reasons. They heard about someone else getting big success or a friend really liked the business or product. These decisions are based on emotional factors not business. The only chance for success is careful consideration and the making the right choice for you.
Go through the check list and make 100% sure that all of these ingredients are in place.
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.
These 5 ingredients are pivotal to your success. Unless they are all present at the outset, keep looking. Without them, there is no basis to start.
Action is then the next requirement and remember this important point. You have to be prepared to work diligently on your business for a minimum 1 to 3 years and refuse to think about quitting. Only quitters fail!
Don’t even waste your time if you are not serious enough to commit at that level because you will just end up getting suffering disappointment.
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.
Learn more about the best home based businesses. Stop by Frank Atkins’s site where you can find out all about his home based businesses