There are more scams on the internet than legitimate online home-based businesses – so it seems like.
I have been burnt five times; I have spent lots of money on my Credit Card and – you are right, I have lost it all. I said, never ever again. It took me a long time to even reconsider to look at the internet as a vehicle for an online marketing business to generate passive income. It happened when a person that I could associate with and trust told me he experienced the same incidences, but I should reconsider a system that he investigated thoroughly. The person who encouraged me was my physical trainer – a Doctor. He is a very balanced person with high moral standards. He is a family man who is disciplined in moving forward in all aspects of his life mentally, physically, financially, and spiritually.
I heard the quote from a very successful entrepreneur: unless you make money while you sleep you will always have to exchange your time for money and will never get rich. How true it is I thought, it applies to me and my family who also have high values in life and would also would like to earn while sleeping. How wonderful that would be – a successful home-based business that can be operated from anywhere in the world where there is internet connection.
I read in Forbes magazine that close to Forty million people will be looking for a home-based business in the next 3 to 5 years. It will be a “dream-come-true” for single parents, families and the like, to have such a successful system in the comfort of your home.
I knew from long ago that new technology has created such opportunities and that an online business is no different than brick and mortar businesses. However, to find the time to search for a trust-able business can be time consuming, while there is still the doubt if you are on the right track and there are no trains approaching at high speed.
My Doctor’s friend assured me that he has done his due diligence and if I will follow his simple game plan, I’ll also find an online business that is the right fit for my wife and me.
He suggested that he will help me to investigate some critical issues and I need ask these questions:
(A) The marketplace now demands unique products that are in high demand, but what are they?.
The claims of a new supplement that will revolutionize the health of humans, this can simply be a copy of another health juice or vitamin. To my mind, there is an oversupply of these types of products. Health is vital, but surely we have enough to choose from which have been on the market and stood the test of time in effectiveness. Yes, we will survive without another “reconditioned” juice that contains a new super-duper berry that is found only high up in the mountains.
It is not easy to find a unique product that is hard to copy, but the internet offers us a fairly new and unique way to make lots of money online and due to its uniqueness and it can be developed in such a way that it is hard to copy or it will be too expensive to replicate due to high-tech investments.
It is time consuming to investigate if there is a market demand for what I want to promote. Trial and error can also be costly. Ask me I have traveled that road. If I can look at this product again in my mind, and ask myself for my own life and that of my family:
“Do I really want this product if it becomes available; and will this product benefit my family and others, PLUS can this product be turned into a business opportunity?”
What is the likely hood of the lifespan of the product – a gimmick or long-lasting?
(B) How well is the business plan structured to pay out the virtual partners?
For commission to be paid only the earnings should be high up front. If the plan pays commission and passive income (or residual income) then it is more attractive to consider.
The best is to find a company with a good balanced payment structure, one that pays out commission and residual.
It is very important when you are searching for a home-based business to take the payment plan in consideration.
A new home base business is normally started with the intention to supplement your existing income, with the goal of building up to a full-time income, enabling you to leave your current employment.
Unless you have a great deal of funds behind you to “carry you over”, you will need to make high upfront commissions because otherwise you will find it impossible to build momentum.
If the upfront commission is small, it’s very difficult to continue. You will run out of steam, and capital, before you reach your goals.
The best is to look for a company with products that sells for $1000 upwards. This will enable you to earn commissions of $500 every time you make a sale. Another tip is to look for a plan that pays out at least 50% of the retail price upfront and one which also pays you a residual income.
The high upfront commissions will help you get up and running faster and you will stay in the game plus the residual commissions will help you to retire sooner.
If the compensation plan pays a high upfront commission only and nothing afterwords, might look attractive but you will burn out quickly, because you will never be able to reduce your pace, the responsibility will be on you to produce continually, causing breakdowns.
High residual income which you earn on the sales of your team is vital, because as you build your group, you will be able to scale down your own activities as your passive income grows.
(C) Another vital point is to check if the business have a proper marketing system?
This is where many companies fall short. Even with the best product in the world together with the best compensation plan, if you don’t know how to promote your business then you’re not going to make any sales and you’re going stop fairly quickly.
So make sure that any company has a system that can easily be followed and that you can duplicate it. Also check carefully if the marketing system fits your needs. The days of conducting hotel meetings are getting old fashioned and it is getting expensive for potential customers to attend, plus working on your warm market is falling by the wayside.
The world is approaching the 1.4 billion mark of people who have access to the internet. The company to consider getting involved with must be very high on internet marketing, because it is very difficult to compete with other well established companies who have a top priority to market products online.
(D) Check who is behind the management of the company, where do they come from and what goals do they have?
You can easily spend two years building your brand in a new business, doing very well in sales, see your income grow and then you lose it overnight because the company owners disappeared with the profits.
Look for past experiences and if the management offer solid standing and stability. Many countries have a Better Business Bureau and they can offer assistance in checking on management. How long have they been in this industry? What is their business education? What are they taking the company?
The management of the company should be viewed as your “virtual business partners”.
Do enough research to find out.
(E) Has the company spelled out where do they want to be in around the globe.
A company must have room to expand, if it is close to reaching full market penetration around the world, then the competition will become too fierce.
Any online marketer must offer its product to be shipped anywhere in the world? There are many nutritional products who suffer from complicated legalities in different regions and it may prevent you building a global business. (Electronic information or books) such as E-books as well as other online products are not normally subject to these restrictions and is more suitable for global online marketing.
(F) Does the company offer contributions back to the community?
Respectful companies must be involved in charity donations or programs to help others. Check if the company is doing something to benefit others now and in the future.
It is far nicer to give than to receive.
(G)Ask, how is the company’s training network and after service support?
Many companies lack in this aspect and yet it is an extremely important.
There are two vital systems to investigate:- can the system be duplicated and does it offer a training network, online or live.
The company that you want to get involved with must have office staff in place to contact
Is there someone other than your sponsor who you can ask some questions and obtain marketing help?
Is there a place you can go, such as a forum, where you can learn about the obstacles that others have faced in building their business and how they have overcome them? Check the community spirit in the company, with members helping other members – are they all in it together or is everyone digging its own hole?
With any new venture there will be hurdles. Never allow these hurdles to scare you because they are all part of the learning process. During this learning curve it is invaluable to have a group of people you can turn to and who will support you.
These are key questions to ask. There are many opportunities being offered online, but before you join any business opportunity check all these questions above. If you feel happy that it meets your needs with the answers to these questions then you have found the right company.
This will save you much of the emotional and financial heartaches, believe you me there are many people who suffer when setting out in a home-based business.
It is normal for a person to try out six to seven different business opportunities before finding the right one in any home business. By going through the answers above and investigate them, you will not waste time, effort and money. This will also eliminate deep frustration to you and everyone close to you.
Choose your new business by using the questions above and you will be in a better position to be able to make the right decision the first time and create the stunning foundation for your successful future.
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