Choosing the Right Home Based Business
Copyright © Monique Hawkins

http://moniquerh.payitforward4profits.com

Do you know how to find the right home based business involving network marketing? Do you know how to conduct proper research to see if there is a market for the product, how to look up information on the company, how to gauge if they have a reasonable compensation plan, and more? These are all very important things for you to know when choosing a home-based business for yourself. Network marketing is a popular choice for home-based businesses.

Investigating the Company

Is there a particular company that you are looking into for your home-based business? If so, then you know it is important to find out as much about the company as possible. The first question to ask is how long has the company been around. A company that has been around at least ten years or more is one you can be assured is sound. You can trust a company more if it has been around at least 10 years as compared to the many new fly-by-night startups that you can find on the Internet. An added plus is if the company is listed as one of the top businesses in the U.S. For example, the company USANA that specializes in skincare and nutritional supplements is now listed as #5 in Forbes magazines top small companies. When a company gets international recognition from a major news organization such as Forbes, this means that there is solid credibility. In its October 31 issue—out on newsstands now—Forbes reports the companies that made its elite list are “solid and consistent hitters that have performed well when measured over the last 12 months and the past five years, and are poised for another growth spurt.” So, make sure you look for a company that is growing and well recognized.


You can also find out more about the company by looking them up with the Better Business Bureau. You can check to see if they have real testimonials from people who started a home business with them. Many times, if people are willing to share their experiences, both good and bad, discuss honestly how their business is going, etc., it helps give you a good idea about what the company is really like and if you can trust their claims. Doing your due diligence is very important.

What’s Your Product?

If you are looking to work for a home based business, you will want to check out the product after you have investigated the company. You need to know what product or service you will be selling and if there is a demand for it. Will people want to buy your product or use your service? Is there a need for this product? IS the market already flooded for this product?

Most importantly is if you believe in the product that you are selling. If you do not believe in the product yourself, then how can you expect to be successful at selling it? You need to know about your product and you need to believe in it so that you can efficiently sell it to other people.

Evaluating Your Compensation Plan

What is the compensation plan with this company? How will you make money? You must pay very special attention to the compensation plan to ensure that you will get paid accurately and fairly. You need to know how you will be paid, how often, and what you get paid for.

Will you get commission or will you make an hourly wage? Will you get a flat fee plus commission on how much product you sell? These are important questions to ask up front. Do you have to share money with other people on a team? You need to understand how you will be paid before taking on a home based and/or network marketing job.

Tracking Start up Costs

You’ve heard the saying “you have to spend money to make money” and while this may be true, you still need to be smart about it. You need to track your start up costs carefully and be sure you plan a budget and that you are able to afford the start up costs that are needed for your business.

You don’t want to spend too much money and then not profit any from the home-based business. This is why you need to be smart about what you are doing and what your start up costs and expenses will be.

Do You Have What It Takes?

Many people start a home based business enthusiastically, but then give up when things get difficult, if they have to put in more time and effort than they previously thought, or if sales and sign ups are slow. It is important to remember that a home-based business will take time and effort like any other type of business. Many times it might take several years before you can leave your day job and do your home based business full time. However, if you believe in what you do, have written goals and study them daily, and are determined to be successful, you will be successful. A positive mental outlook and determination is very important.

Starting a home-based business is something that many people are now doing. Doing the right research, evaluating the product, talking with people who are associated with the company, studying the compensation plan, and lastly deciding if this is something you strongly believe in and will be motivated to continue no matter what will determine your success.


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