Business Opportunity, Choose Wisely
It can be a real minefield when looking for a home business opportunity. There are many of them around and also you need to watch out for scammers who just want to make some fast money out of you. You will need to be careful!
The fact is that many people across the world are making full time incomes from home working online so it is a viable option. You need to put in some hard work though and be prepared to educate yourself, to make it work.
Direct sales and Network Marketing are the two main business models I would recommend you look at. There are also affiliate marketing models, where you just sell someone else’s product and earn a commission one time.
Network marketing is all about creating your own organization of people underneath you. You earn money for their activity, they make a sale, you get paid, even though you didn’t do anything. This is a very powerful business model as once you have built a successful team, you will have residual income coming in on autopilot. MLM is well worth considering.
Direct sales and top-tier is basically selling a product package and earning a large commission on the front end sale, normally there is not much potential for creating passive wealth as you often just get paid on your teams efforts one level deep. Most of these business opportunities are high ticket, therefore more costly to join, but pay out more commission, so more profit for less sales, although it may be tougher to get a sale due to the cost. High ticket has distinct advantages, one of these being a higher profit margin, giving you more scope for paid advertising.
It’s no good spending $500 to make 5 sales on a $100 product, but with a high ticket business paying a commission of ?2,000, it’s very worth it.
When choosing any opportunity, you want to check out their history and see if you can dig up any dirt before joining. You will also be joining through someone, so you need to choose your sponsor carefully. sadly the truth is that there are many sponsors out there that promise the earth in support and training, but don’t deliver. After you have paid your money to join you may find that they become a little less willing to help you out!
I’d urge you to be careful choosing a mentor and get in contact with them on the phone, you need to scope these people out to make sure they are going to deliver what they say they will, before you start parting with money.
Also take into consideration how long the company has been around, it swings in roundabouts. First mover advantage can be massive and put you at the top of the chain, but you also need to consider if the products will be in demand and stick around for a few years to come, or will it be a flash in the pan. I’ve found it’s usually easier to sign more people up to a new company than one that’s been around for a long time. When looking at any business I like to look at the products and consider if there is a market for them, also I ask myself if the products would still be bought even if there was not a network marketing compensation plan attached to them.
Whatever the business that you look at and sign up with, there are several concepts that you must be aware of, miss one out and is could be devastating to you future prosperity.
This advice on choosing a home business was given by YourNetBiz mentor James Hicks. He has helped many people succeed in the home business industry, you can read his YourNetBiz review by visiting the link.
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