Before starting a home-based business these are some pointers to help you to make your decision when you are looking.
The most important is finding the right fit for you first - then it will work because you will be passionate about it rather than seeing it as another 'job'.
Choose a business that has unique products that are in high demand in the marketplace.
I mean, think about it - how many more juices or nutritional products can the world take? People are bombarded with this stuff and it just turns them off now - don't get me wrong - we all drink juice and the healthy ones of us use supplements all the time, but hey, there is a limit to how many we want.
Does the world really need another 'miracle juice' or 'miracle supplement' - usually with claims as to how it will rejuvenate you (which we all know it doesn't really!) No, the marketplace is flooded at this point.
To be competing against companies that have been in the business for years and are well known there would have to be a unique product.
Think - what could take away the power of a company such as Amway? It just isn't going to happen is it? I sold Juice Plus in my clinic for a couple of years but, truthfully, my patients had enough of the huge amounts arriving each month and the amounts they had to pay for them - there began to be a Juice Plus mountain which they then expected me to take and sell for them! Definitely not the way forward! So...
Is it in demand? Is it hard to copy? What is the value to people? Would it be of benefit if there wasn't that business opportunity attached to it? If no, then its clearly going to have a limited life and no-one wants to get involved with that.
There has to be a really lucrative compensation plan - this is the incentive to take action and work hard.
What does it really mean to have this? Well it could mean something different to you than it means to me.
If you are marketing a product under the umbrella of another company by being affiliated with it then really you want to be paid up front with a high commission bonus AND also on the back end with a high residual income.
Most compensation plans out there are NOT equal.
OK why is this important? It gives you the added momentum if you are paid for your efforts up front.
$100 commissions??$1,000 or upwards product value and usually you should make a commission between $500 and $1,000.
The compensation should be at least 50% up front of product.
Residual people will want what you are doing and they will want to join you.
You have to be able to keep making money without getting burnt out.
After 1 or 2 years of working hard at this you will want a break! So - large upfront and a strong back end is what is required for this.
Marketing System - the best product percentage plan - but you cant get anyone to look at the product - then its going nowhere.
Dead in the water really fast.
There must be a provable, duplicable marketing system in place.
It must fit your needs for what you are doing/selling.
Say for example you don't like meeting in hotels trying to sell that vitamin drink - then make sure the system doesn't have this one in it! These are all equally important when searching for the right fit of business and compensation plan.
Critical in fact.
There are more to come - watch this space!! Here is a company that has all this and more - check it out - http://bit.