Wednesday, July 1, 2009

5 Keys to Choosing The Right Home Business

When researching home based business opportunities one should be aware of a few key things that will help you choose the right business for you. There are more and more home businesses/mlm opportunites everyday and believe me I have seen the good, bad & extremely ugly, but I have discovered what makes an opportunity worthwhile to me.

The #1 key is to make sure the opportunity has a good, consumable product that people want. If you have a product that is good, but people only need it one time, you are going to have to keep scrambling to find new customers. That is way too much work and not necessary. Repeat, residuals sales and word of mouth is a very big thing if you want to grow a strong business thriving business.

The #2 Key is to find a business that has a product you are passionate about. Believe me it will be much easier to promote something you enjoy and love as opposed to trying to sell something like life insurance, unless or course you are passionate about life insurance, but it will also show through to your prospects. If you love what you are doing it will shine through.

The #3 Key is to make sure the opportunity you are exploring has a support system. To often, and it is so unfortunate that their are people and businesses that are only interested in signing you up, then you can never reach them again and you are hung out to dry trying to figure out everything on your own. The best opportunities will have mentors that care about you and your success, because they realize that it comes back to them. Your success is their success and that is the way it should be. Also, make sure the company has tele-conferences, trainings and webinars on a regular basis with top income earners leading the way.

The #4 Key is to make sure the company or organization within the company has a business system in place that is working for many different types of people. My first opportunity I signed up, they handed me a briefcase and said "go knock on doors". I was 18, ambitious and shy, but needless to say I failed. That was their system and it was something I was not going to be able to succeed in. Make sure the business they have is versatile enough where that many different personalities may succeed with.

The #5 key consider is the company's compensation plan. This is something you want to study very thoroughly and decide if it is doable for you. There are many different types of compensation plans out there and people have their opinions on which one is better, but I won't to into that on this blog, but don't be afraid to ask questions as you study the plan and decide if is something you are comfortable with.

These I believe are the 5 main keys to choosing the right mlm/home based business for you, but there are other variables to consider such as, "how long has the business been in business and who heads the company and where is it located?." Make sure it all feels right to you before you join. If you feel uncomfortable about certain aspects, again, don't be afraid to ask questions to the person who is to be your sponsor. Go with your gut feeling on this, because it is a decision you are going to have to live with.

I hope this helps. Feel free to share with me other things you consider when researching a home based business. I'd love to hear your comments. Thanks again for reading my blog. Have an awesome day.

** Looking for a great home business? Check this one out.

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