Building a home based business, it seems, is no longer an option, but for many people a necessity. With unemployment rising and businesses failing, nobody can be sure of paid employment in the future. Failing to act when a good opportunity presents itself could be disastrous for your financial health.
With so many businesses to choose from, how do you pick the best one for you? So much has been written about evaluating opportunities that it can be difficult to sift through the information, but there are really only three issues to examine. Nothing can guarantee success, but ignoring these three factors is likely to lead to failure.
If you don’t believe in the business yourself, how can you expect anyone else to? Belief in the business and its potential falls into three parts:
When we read about being passionate about the business, it’s easy to lose sight of just what is meant by that. You can convince yourself you’re passionate about a business simply because you think it will make money for you, but unless the product aligns with your own interests, the passion will be short-lived. I might convince myself that a business based on goldfish food was exciting, but I have no interest in goldfish, so why would I want to do that?
> Your Sponsor
Is the person telling you about this opportunity someone you know, like and trust? If not, is it someone you believe you can get to know, like and trust? If not, don’t bother: working with someone who annoys you will make you miserable: it’s like working for a hated boss in the corporate world.
Testimonials are valuable, because they confirm that other people have experienced the product or the business and are pleased with the results they have attained. Make sure the testimonials are genuine, though, because these days a lot of scams are promoted. If you can, contact some of the people giving the testimonials and see if they are believable: your instincts will generally be good here – is this someone you could know, like and trust?
Here again, there are three separate aspects:
Is the product or business in alignment with recognized trends? For example, the product that I am currently working with is directed at eliminating the current increase in obesity and Type 2 diabetes. These are world trends that represent major health threats, and are in alignment with my interest in health and fitness.
Are there competing products already on the market (this is a good thing)? What is the unique selling proposition (USP) of this product? Given the competition, is there sufficient market to make the product viable, and is it price-competitive?
> Growth stage
Is this a mature company with limited growth potential or a new company recently launched or about to be launched? If the latter, does it come from a team with a track record of successful companies, or is it somebody’s first venture?
The last thing you want from a new venture is to be left alone with limited tools, no training and no team. This is a recipe for failure, as I found in my first home based business. If the opportunity has passed the first two tests, support is the final requirement.
I mentioned the product USP earlier, but what is the unique selling proposition of the company itself? What is it about this company that makes it preferable to others you may have looked at?
What training and marketing tools are available? At the very least you should expect your own website, autoresponders and banners. With the best companies, most of the marketing and training you need will be supplied – your job should just be to find people who are interested enough to evaluate the opportunity for themselves.
Is there a team of people like yourself to work with, or just a corporate entity? You should have access to others who can support you and offer suggestions to help you build your business. Additionally, you should expect a significant part of your business to be built for you through spillover.
The compensation plan should be generous, of course. I have yet to see a company that claims it has anything less than the best compensation plan around – that’s one of the reasons I left it so far down on the list. You should at least be sure to understand how it works, but some of it you will have to take on trust – just as with any job!
I have left the most important item until last. How open is the company to allowing you to earn money in other ways? Some traditional companies penalize you severely if you reach a certain level in the organization and attempt to add another income stream. Stay away from them: these companies are interested in their own profits at your expense. I’m not suggesting that you promote two companies that are in direct competition: that would be stupid. I am suggesting, though, that promoting two companies in different fields or two that complement each other might be in your future best interest.
The Ideal Company
Like I said, the ideal company for you will depend on your own interest or passion. My main passion is health and fitness – I have now lived long enough to recognize that without those, life is hardly worth living. And now I have been fortunate enough to discover what I believe to be the ideal company for me.
From now until June 20th., we have a pre-launch special for a limited number of people who are serious about building a business. If this happens to include you, and if the health and fitness industry is high on your interest list, go right now to this link
You’ll be glad you did!