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Monday, September 10, 2007

Secrets to Finding Home Business Success

There are many home businesses available that are legitimate and that will allow you to achieve great financial results. There also are many more that are just over-hyped and nothing but smoke and mirrors. There are pyramid schemes, money games and just plain old scams. Unfortunately, any good opportunity will also attract the leeches who are just looking to take advantage of people and to take their money

Here are some key points to consider when looking for a home business:

Find a coach and mentor:

  • Find someone you can trust and believe in.

  • Find someone that can share the roadmap and tools they used to be successful.

  • Find someone who has a proven system that you can duplicate to get the same results.

  • Find someone who has already achieved what you are looking for.

  • Find someone who actually cares about your success and has a real concern for your personal achievement.

Make sure they have a direct financial interest in your success. This means that they are not successful unless you are successful.

Make sure that they have duplication. Are there others in the business who are using the system and getting results? Ask to be introduced to some of them. You will find that this is where many opportunities will come up short because they are leaving nothing but destruction in their wake. Ask to talk to somebody who is new in the business, also ask to talk to somebody who has been around for a while. Both can give you a good indication of whether what you are being told is true or not.

Find a System That You can Duplicate:

Make sure the business has a marketing system in place that anyone can duplicate. A system that anybody can plug into and get consistent results. If you have to rely on recruiting family and friends or buying leads you are going to have a hard time generating an income. You have to have a way of getting quality prospects in front of your products or you will not be successful in the long run. Find a marketing system that is proven to work. They can be difficult to find and this is often where many people fail in this industry.

I recommend finding a direct sales company to work with. Many people find it difficult to generate a significant income with the MLM type of business models. The attrition rate is often very high and the commissions often very small.

Find a company that does not require you to pre-purchase the products up front at wholesale. If you have to buy the inventory to then turn around and sell, the company has already made its profit from you and is not going to have a serious interest if make a profit or not.

Very few people are good at sales. You only want to do the marketing for the company. The company should supply the sales presentation for you. Make sure that you will have a team of people with a system in place to do the product presentation and selling for you. You should always have a team of people available to support you at any time.

Check out the Products:

Make sure that the products being sold are legitimate and stand-alone products. Is it a product that people will purchase without having a business opportunity attached to it? Look for growing markets and dont chase trendy fads. Many network marketing and direct sales companies are built around the compensation plan only and are NOT about a product that stands on its own.

Buy the product yourself. You will want to do this for several reasons. If you dont want to purchase the product for yourself, that is a big indication that you also wont be able to make any money marketing the product to others. If you dont personally own the product, then you probably dont really believe in it and you won't be successful marketing it. Most legitimate companies do not require that you purchase the product, however you will want to to take full advantage of the compensation plan by purchasing the product for yourself. It is in your financial best interest to take advantage of the compensation plan in all direct sales companies. Review the compensation plan of each company carefully to understand how to position yourself financially. This can make the difference of tens of thousands of dollars of income in your first year.

Make sure that you have a money back guarantee on your purchase. This is a requirement by law. Any purchase you make should give you at least 3 days to review the product after you have received it. This takes the risk out of the purchase and gives you time to review the product and to see the company from the inside. You will then know if you have made the right decision.

There are many legitimate companies marketing great products. Make sure to find one that feels right to you! You have to believe in what you are doing.

Do Your Due Diligence on the Company:

Make sure that the company is financially stable and has a long term vision. You want them to be around for as long as you are going to be marketing for them. If a company has been in business for at least 5 years, they are more likely to be around for years to come.

Check the company for bad publicity. If the company has a lot of bad publicity, its likely for a reason. Bad publicity can seriously damage a company. Every company will have complaints, but look for an ongoing pattern of complaints and continued bad press.

Find out where the companys headquarters are located. Make sure that the company is not offshore to keep themselves just out of reach of the attorney general. This is a good indication of the companys true values.

Look Beyond The Hype:

You will see some hype with all opportunities, it is a necessary evil of doing business. So dont worry about some hype, just dont get caught-up by it. Review all the information to get the big picture and real information.

Once you know the facts about a company, dont get started with any opportunity that doesnt have a six figure income potential within the first year. The business opportunities that offer lower income potentials will take more of your time and effort than you would invest working a part time job. The odds are that you will quickly become discouraged and quit. The compensation must be worth your effort to give you the continued motivation necessary for you to succeed.

Use Common Sense:

If someone tells you that a $35 dollar investment will return thousands of dollars a month to you, they only want your $35. They are then going to show you how to spend more money in order for you make money. All of the legitimate opportunities that I know of can generally expect an investment of $2,000 to $3,000 for you to get started and begin making money. This includes the cost of your product purchase and your initial marketing costs. If youre not prepared to spend at least $2,000 to start a business, then you are wasting your time and money looking for a business because what you are looking for is a J-O-B.

Go With Your Gut:

Do you feel good about what you will be doing? If yes, then pursue it with everything you have! If you are leery and dont get straight answers about the products, the support or the systems, then go quickly in the opposite direction! If they aren't telling you the whole story then they are only after your money.

You should be able to tell if someone is really interested in building a long term relationship with you, or if they are just trying to sell you something.

Finally, is what you are about to do something you can be passionate about? Are going to be willing and eager to share it with others?

How can you be successful if you lack pride and self confidence in what you are doing? Do something that is meaningful to you and make what you do be all about "assisting others". That is really what sales is all about. Be proud and passionate about what you do and if you are following the right business system, and taking action, it will be impossible for you to fail.

Keri Just is a Home Business Professional and coaches others on how to have success working from home. You can contact Keri and get additional information through his website at: www.justforfreedom.net

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