Home Based Businesses

Ten Ideas to examining home based business opportunities

Step 1. Keep an open mind. There may be tons more to an opportunity than we assume. Certain business concepts and brand names conjure up images based on very inadequate information or prejudged ideas. We have to check out an opportunity properly before we can make an informed decision.

Step 2. Does the Enterprise supply products or services to real consumers that have no connection to the business opportunity? If there are customers that just want to buy the products or services this is likely to be a bona fide and sustainable business. If on the other hand the only “customers” are the distributors themselves (or their friends and family) you may want to ask the question: why?

Step 3. Are the products or services likely to be in demand for the long-term or are they just a passing fashion? It may be that there is a short-term income opportunity with a passing fad but if you are looking for a business opportunity that will provide for you for many years then it makes sense to opt for an opportunity that is likely to have a demand for its products or services for the long term.

Step 4. Is there a simple, proven system for moving products or services to the market? This is a rudimentary requirement for the success of any business. Are you required to influence family and friends to buy your products or services? Would you be happy to do that?

Step 5. If someone is offering you an opportunity and claiming that you will earn money from it, it’s reasonable and sensible to ask: “What are you earning from it?” If they tell you, then it’s also reasonable to ask to see some evidence. If they are not prepared to tell you and provide any evidence; ask yourself why not?

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Step 6. Ask what their sales figures are each month and once more, ask for proof. If there is no business turnover; there is no business!

Step 7. Are you required to make a sizable investment? Generally, home based business opportunities require a small investment, maybe a few hundred pounds for equipment and materials essential to work the business, but if you are required to invest massively be very cautious. It’s also relevant to understand where your money goes and exactly what you get for it. If the person that recruits you into the business gets a fee directly as a result of recruiting you; be very careful as it may even be an unlawful scheme. The person recruiting you should only profit when you, as the new joiner starts to move products or services yourself i.e. they are benefitting by helping you to earn money. This way they have a complete interest in your success; a basic component of an ethical business opportunity.

Step 8. Not all, but most ethical business opportunities will be members of the DSA (Direct Selling Association) and whilst this does not represent any guarantee, member companies are required to operate within specific guidelines.

Step 9. If the opportunity that you are considering has a team-building component to it, check to see that there is a clearly defined methodology and infrastructure to support you with this. You need to be sure that this is in place and that the person and/or team that you are considering joining with, is qualified to train and coach you in this matter. Within any given Company the people that you enroll with can have a colossal impact on your business; choose carefully!

Step 10. Seek out all of the information that you need to accurately evaluate a business opportunity and then make a well informed decision based on the whole story. Find someone within a specific opportunity that is being successful and go through the steps 1 to 9 above with them. Many people will ask those close to them for their assessment but it’s important to ask ourselves how they are qualified to interject. You may even find someone that has failed in the opportunity that you are considering and these people often have an opinion that they hanker to share with you! If you want to be a success it makes sense to speak with successful people.

These ten basic steps will go a long way to ensuring that you single out the right opportunity with the right people. This has been compiled after many years experience in a home based business and I sincerely hope that it helps others to find what is right for them. We love the opportunity that we started on a part-time basis that subsequently allowed us to resign the rat-race, and would welcome any enquiries.