Business & Finance Home Based Business

Home based business – Is it for you?

href    Home based businesses are becoming more and more popular as the out of home workforce becomes more unstable. Between layoffs, downsizing, insurance stress and the difficulties of finding lucrative employment, the idea of owning a business and being in control of your time and income looks better every day.

      Did you know that many major companies began as home based businesses? Companies like Hershey, Apple and Ford Motor are just a few. Actually, over half of businesses in the US are home based!  Because home based business number in the millions, I am now going to focus on the network marketing businesses.

     In the search for what is right for you, network marketing or MLMs can be considered the most appealing in some respects but are known to be the most difficult to get off the ground. They are appealing for the lack of brick and mortar needed (actual building space), low start-up cost, low to no overhead, the prospect of serious residual income and the image of appearing easy because the concept is simple. In actuality, they are difficult mostly because it take a tenacious, coachable, never give up type of person to stick with it long enough to see a profit.

If you are thinking about starting an MLM lets consider a few points:

  • Beware of pyramid schemes, they are illegal in the US! Pyramid schemes are structured so that you can never make more than the person above you (your upline).

  • BBB (Better Business Bureau) association- assures the legitimacy and quality of the business.

  • Age- long standing businesses assure that they are profitable with a good system in place.

  • Mentorship programs. It is almost impossible to succeed in an established MLM without a training system with mentorship. Learning from someone who is making money or on a strong team is the only way to stay motivated and encouraged through the difficult sometimes over whelming steps to get started.

  • Product diversity and quality. The higher the number of products the better the chance of meeting the demands of the public-IF-the quality of the product does not suffer. For example, MLMs that sell make-up only are cutting their potential customer base in half as most men do not wear make-up.

  • Product and service guarantees are highly desirable, assuring product quality and sincerity of the company and its teams.

  • Be prepared to invest the time and money to attend seminars and training. It is a vital part of your business- like the blood if you will- of your body.

  • The last and most important point to consider is YOU! How big are your dreams- because they will and should be your biggest motivator.

Dealing with the public is difficult at times but dealing with yourself can be the hardest thing of all. Attitude, motivation, being open to learn, being able to follow in order to learn how to lead, the ability to stay focused, positive thinking, being personable and tenacity, are all attributes of a successful network marketer.

Do you think you have what it takes to jump aboard with a team of achievers? If you would like to learn more,             

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