You have decided you want to start a home business so now you need to find the perfect opportunity. Where do you go to look and what do you want to know? Well the obvious place is the internet but there is an issue. There is so many opportunities out there you can quite easily get overwhelmed.
But, let's assume you have found a home business opportunity that looks interesting. What do you do now? Well, you won't be surprised to hear you have to do some research. Again, you should start by looking online.
Here is a list of things you should do when checking out any sort of home business opportunity:
• Go through the company web site in great detail. You are looking for details about the
o Products - what are they? What makes these products unique or at least why would someone buy them instead of a competitors? Are you interested in them? Do you think they will sell? And can you sell them? If there are no products then it is illegal and you should stay well away.
o Finances - are the company finances in order. If there is no information can you see a good reason why not?
o Testimonials - are there any statements from other people about the company and its products? And from people who run a home business with this company.
o How will you get paid? If this is a network marketing opportunity what is the pay scheme? are there any maintenance fees? Do you have to buy an products? If it is not MLM then you still want to know payment terms, any minimum sales, are there any withholding periods?
• If the company is quoted on the stock market then have a look at its performance, see what the directors are doing (buying or selling shares), review the news items, in fact any data that will give you a picture of the stability of the organisation. Look for revenue that has been generated by other home business owners as a percentage of total turnover.
• Check the company out with the better business bureau or chambers of commerce or equivalent for your country.
• It is worth phoning the company and asking for their publicity material - get to look at their brochures and sales literature. These will help you see how professional the company is with their sales and how this will help you sell.
• What training do they provide? Is it just about the company and product or do they provide education around business in general, mindset and motivational type training.
• What support is there, over and above training, to help you achieve your objectives.
• Is there any investment you have to make? If so how much is it? Are there any ongoing costs? Is there a timeframe whereby you can change your mind and get your money back? It is worth pointing out that virtually every network marketing company will charge you a fee and most have monthly fees as well.
Before you commit to a home business opportunity you should carry out lots of research and due diligence. You should make the best use of the internet where most information can be found but you should also find company contacts and call and email them. Better yet, see if you can find another person who has gone through what you are doing and get their opinion of the company. Again, if you are looking at a MLM opportunity you should spend a fair amount of time with your prospective sponsor to get their input and to make sure you can work with them.
So, don't invest in a home business until you have done all your research and know what you are getting into and that you think you can make a go over your new home business.
But, let's assume you have found a home business opportunity that looks interesting. What do you do now? Well, you won't be surprised to hear you have to do some research. Again, you should start by looking online.
Here is a list of things you should do when checking out any sort of home business opportunity:
• Go through the company web site in great detail. You are looking for details about the
o Products - what are they? What makes these products unique or at least why would someone buy them instead of a competitors? Are you interested in them? Do you think they will sell? And can you sell them? If there are no products then it is illegal and you should stay well away.
o Finances - are the company finances in order. If there is no information can you see a good reason why not?
o Testimonials - are there any statements from other people about the company and its products? And from people who run a home business with this company.
o How will you get paid? If this is a network marketing opportunity what is the pay scheme? are there any maintenance fees? Do you have to buy an products? If it is not MLM then you still want to know payment terms, any minimum sales, are there any withholding periods?
• If the company is quoted on the stock market then have a look at its performance, see what the directors are doing (buying or selling shares), review the news items, in fact any data that will give you a picture of the stability of the organisation. Look for revenue that has been generated by other home business owners as a percentage of total turnover.
• Check the company out with the better business bureau or chambers of commerce or equivalent for your country.
• It is worth phoning the company and asking for their publicity material - get to look at their brochures and sales literature. These will help you see how professional the company is with their sales and how this will help you sell.
• What training do they provide? Is it just about the company and product or do they provide education around business in general, mindset and motivational type training.
• What support is there, over and above training, to help you achieve your objectives.
• Is there any investment you have to make? If so how much is it? Are there any ongoing costs? Is there a timeframe whereby you can change your mind and get your money back? It is worth pointing out that virtually every network marketing company will charge you a fee and most have monthly fees as well.
Before you commit to a home business opportunity you should carry out lots of research and due diligence. You should make the best use of the internet where most information can be found but you should also find company contacts and call and email them. Better yet, see if you can find another person who has gone through what you are doing and get their opinion of the company. Again, if you are looking at a MLM opportunity you should spend a fair amount of time with your prospective sponsor to get their input and to make sure you can work with them.
So, don't invest in a home business until you have done all your research and know what you are getting into and that you think you can make a go over your new home business.
SHARE
