Home-Based Business Tips

If you are one of those people interested in starting a home-based business but do not have a skill as an artisan or background in things like accounting, financial planning, etc., one of the possibilities you may be considering is a network marketing opportunity.

Once you open up to network marketing as a possible answer to fill your home-based business desire, how do you choose between the many opportunities available?

Use this list of eight key questions as you consider the different network marketing opportunities:

• Is the company participating in growth markets?
  • Make sure the company’s products align with the major growth markets including health and wellness, green products, anti-aging, etc.
• Is the company financially stable?
  • Many start-up network marketing companies fail within the first few years of existence.  Make sure the companies you are evaluating are stable and can weather the current economic conditions.
• What is the company’s reputation in their marketplace?
  • Check out the company’s reputation and history in the network marketing industry and whether they have had product, service or issues with distributors either today or in the past.
• Can you make a legitimate initial and residual income?
  • Evaluate the compensation plan and be sure the bonus plan provides for a potential income both in the near-term as well as long-term residual income.  Many older compensation plans were structured to focus on the long-term residuals and provided little or no early bonus structure meaning it takes longer to build a positive cash flow.
• Does the company produce a viable, consumable product?
  • Another way to phrase this question is …. Are the company’s products in demand and readily consumed?  This is important to maintain repeat sales from satisfied customers as you build your distribution base.
• Is their credible research and QA/QC conducted on the products and ingredients?
  • As you evaluate the company and its products, make sure they both conduct in-house and support external research on the products. You also want to check to insure the company conducts their own in-house QA/QC tests on ingredients used to manufacture the products as well as the end products (think about what happened with lead in toys!).
• Does the company introduce new and revolutionary products on a continuing basis?
  • As you undertake your research, check to see if the company actually researches and produces new and innovative products on a regular basis to enhance growth and keep renewing their product lines.
• Do the company and team under consideration provide training on realistic business building methods along with the products and opportunities?
  • Check to be sure the company and the distribution team you are considering offers training beyond the products and compensation plan. They should also offer training on variety of business and marketing topics including up to date prospecting methods (traditional, social networking, using Internet) and delivery techniques (teleconferences, webinars, multi-media presentations, along with traditional live events).

Careful consideration of each question will greatly assist you in during your evaluation process.  Take the time to gather your facts; gain a realistic understanding of your selected opportunity; and what it actually takes to build the business will help set a firm foundation enabling you to be successful.

Would you like to see how these questions can be used during your evaluation process of different network marketing opportunities?

Enter your contact information into the form below for a personal consultation and evaluation tour one team’s approach to address each of the questions:

Every one knows the online World is constantly evolving and playing an ever-increasing role in our everyday lives.  One manifestation of this is the fact that a growing number of people are following the day’s happenings by visiting various news sites like CNN, Fox News, etc.  More evidence is shown in the expanding number of blog sites (~ online journals on different topics) and readers following them.

With more and more interesting sites popping up everyday, how is anyone supposed to be able to keep it all straight?

Up until recently, most people bookmarked each site and would then visit them on occasion to read any new posts.  As the number of blog sites skyrockets however, that task is taking more and more time consuming and virtually overwhelming!

Fortunately we have now entered the 21^st Century and a group of techno-gurus have developed a neat solution called Really Simple Syndication or RSS.

As a matter of fact, this blog has a way to invoke RSS by clicking on the graphic image of the dude reading the “RSS” newspaper (upper right side of blog page) or the RSS link to his left.  (A standard RSS image is shown in the upper left corner of this post).

If you happen to be enrolled on an RSS Reader site (Google has one), a window opens up for you to log into the site and the RSS feed link is saved.  Each time you visit a new site and want to track new articles, just click on their RSS feed button and the connection will be made.

Here is a short video provided by Lee Lefever of the Common Craft Show providing an overview of RSS basics:

Now that you understand the basics, head off to Google Reader (or research others if you have something against Google), get signed up and start syndicating!

It will definitely help you keep track of all that interesting information (and your competitors!) more easily ….

Over the years it is likely you have run into people who hear the words network marketing or MLM and instantly condemn those home-based businesses as scams or pyramid schemes.

In my case those innuendos started when I first looked at network marketing opportunities over 30 years ago.  Even though those voices were always echoing when the subject arose, I spent a lot of time researching the scam/pyramid scheme claims and derived my own conclusion.

My conclusion ….

Although there are some fly-by-night, get-rich-quick companies promoting themselves as networking marketing companies, there are plenty of legitimate network marketing – direct selling companies out in the marketplace today.  A few of those companies have been in business selling quality products for over half a century!

Do you still have doubts? … Then consider this …

Several years ago, billionaire investor, Warren Buffett’s company, Berkshire Hathaway purchased a network marketing company, The Pampered Chef.

Earlier this year (2009), “The Donald” a.k.a. Donald Trump launched a new network marketing-based health and wellness company.

Need More Proof?

Then watch this video from a top business leader, Robert Kyosaki, author of Rich Dad – Poor Dad, and hear his take why network marketing – direct selling maybe a great fit for many people:

There is little doubt that MLM – network marketing opportunities are not for everyone but those with real product lines are not just viable; they also offer many people the perfect home-based business opportunity.

So you think you’re ready to take the plunge and start a home-based network marketing business.

Over the last several months, you have been:

• surfing the “Web” looking for potential opportunities;
• listened to presentation after presentation;
• evaluated people and teams you could work with;
• heard all the hype of megabucks for little work but flushed them out and identified a real;
• identified a few legitimate home-based business opportunities;
• determined other needs to get your business going (legal, accounting, etc.); and
• are now poised to pull the proverbial trigger!

Even though you have done your homework, has the subliminal message of big bucks for almost no work you heard over and over left a hidden image and false illusion in the dark corners of your mind?

Are your expectations about what it takes to build the business realistic?

Maybe yes … maybe no!

The bottom line – building a home-based business of any type takes time, work, patience and persistence.

Listen to a few more of my thoughts on the necessity to hold onto realistic expectations if you truly expect to succeed in your new home-based business venture:

When you’re done, please let me know your thoughts.

We all love comments!

Being a “baby boomer” and looking out to the future towards retirement, evaluating options to protect my income has been steadily on my mind.

Given the economic upheaval of the last few years, many of us have been faced with this very question.  As last year’s election cycle wound down, even the politicians were finally admitting we were indeed in a recession.  Although recessions are not uncommon, this one is the worst in decades resulting in substantial impacts to a large portion of our society.

Further evidence of continuing economic strife was signaled in a Business Week article indicating:

• Retail sales decreased in July compared to June and
• Unemployment claims rose in the second week of August compared with the first.

So how does anyone better prepare to avoid a financial heart-ache and make your income recession proof?

Many people are starting to look very seriously at ways to lessen impacts from job loss or income reductions by evaluating home-based business opportunities.

Thoughts of service-based businesses (home repair, accounting, financial planning, specialty retail shops, etc.) often come to mind when thinking about home-based businesses since they are commonly operated from home.

But this my friend is the information age meaning a whole new and bold world of home-based business opportunities awaits on the horizon.  Those opportunities wait for anyone willing to use even simple computer skills (already possessed or readily learned with the proper coach) to tap into the power of the Internet.

Why is the Internet so powerful?

Mainly through a combination of ever growing number Internet users (~360,000,000 in 2000 rising to almost 1,600,000,000 by 3/31/09) and the amazing social resources including open social media sites like blogs, Facebook, MySpace and Twitter.

Every person willing to connect with the right team, find the right home-based business opportunity and work to develop their business can literally have the “world” at their fingertips!

Taking the proper steps will help protect and recession proof your income which is something everyone (baby boomers, genx and millennials) should be considering.

Now the big question is ….. Where to begin?

One of my business associates and online marketing mentors, McKay Earl recently produced a two-part video series “Recession Proof Your Life”.  Through these videos he provides a wealth of information about the different ways to tap into the power of the Internet as part of numerous home-based businesses.

Complete the form below to gain complimentary access to this awesome, information-packed video series and begin to unravel the secrets of using the Internet to identify and grow potential home-based business opportunities!

You’ll be glad you did ….