Butterfly asked and you answered! We wanted to know, “What is single biggest challenge you face as a working mom?” Top three answers: TIME (not enough), BALANCE and MONEY (providing for my family). Today we’re going to address the concern over MONEY!
To follow are 8 Tips on how to find a Successful Home Business:
- Length of Time in Business ~ Do not invest time or money into any home business opportunity that has not been successfully in business for at least five years. Most scams and bad business opportunities will not make it to the five-year mark. Often new businesses will crop up with a slogan such as ‘ground-floor opportunity’ or ‘get in early’ – major red flag!
- Proven Business System & Free Training ~ Is there a proven business system you can duplicate and get up and running quickly? Don’t spend your time “reinventing the wheel.” Support is KEY. Join a team that stands by this concept. Members should have access to a resource center and tools to succeed.
- Hyped Guarantees ~ Watch out for business opportunities that guarantee you will make hundreds, thousands, or millions of dollars, in a specific amount of time.
- Credibility ~ PLEASE check if company has a good standing with the Better Business Bureau. Don’t base your decision on opinion or Internet reviews. Get the facts.
- Products/Services ~ Every business has a product or service – choose something that people will need and continually repurchase. This will help you in getting new customers as well as build residual income from current customers. Residual income is the best kind of income.
- Joining Fees ~ Most legitimate home businesses are not free to start, but the ability to get all the facts should be. It’s not necessary to spend hundreds or thousands of dollars in start up fees or products. Beware of front-end loading companies that require “Distributors” to purchase the majority of the products, not the end consumer. The company makes the majority of their profits from new distributors buying a lot of product up front or to “Get To” or “Maintain” a status.
- Website ~ Odds are you will need a website to market your business. There may be a slight cost here, but make sure you have access to one that can be provided at an inexpensive fee. Unless you know website design, this is a must.
- Compensation Plan ~ Ask if the company prints the average annual and monthly income statistics for each level you can achieve. They should have nothing to hide. Look for a company where you can continue to grow based on your efforts and hard work. Avoid buying status or monthly quotas.
Use these essential elements when deciding which home business will last long-term and help you achieve the results you envision.