Most people fail after starting a home based business because there are some common pitfalls inherent in a lot of home based business opportunities. One should avoid the following fatal flaws when choosing a home based business.
If you are evaluating a business opportunity which requires you to sign up family or friends as customers, do not walk but run for the nearest exit. This is the quickest way to alienate both your family and your friends.
Never join a business which requires you to attend hotel meetings. One of the most common reasons for starting a home business is financial freedom and most do so while still working another job. If your new opportunity requires you to travel to hotel meetings after work each day then you will ultimately exhaust yourself. Your goal is more time to enjoy your life, not less.
Whatever you do, do not join a business which requires you to purchase large quantities of their product. If the business mandates a nominal purchase of their product each month that is fine. But if you are contemplating adding onto your garage to store all that product, this is not the business for you.
One of the most important elements of the business is the compensation plan. Never settle for a compensation plan that is less than adequate. If you have to work until you are 102 years old, this is not the path for you. Believe me, there are business opportunities out there with really good compensation plans. You deserve to be paid and you deserve to be paid well.
If you are a genius and have studied the company’s program for months and still cannot understand the program, chances are it is too complicated. After all, you’re going to need to be able to explain the business to potential customers and/or salespeople. If you can’t, hasta la vista, baby. I have often found that the simplest concepts work the best.
Avoid those opportunities whose marketing requirements are unrealistic. Most home business opportunities floating around on the internet today require you to recruit a ton of other people just like you who either need or want to make a lot of money. Often you must simply recruit an unreachable number of people in order to succeed. This takes undue amounts of both time and selling skill. You don’t have to possess either with the right business model.
The solution is to choose a home based business which does not have any of the hardship requirements listed above. The best businesses are simple, easy to understand, inexpensive, and not overly burdensome in their marketing requirements. Leveraging the power of the internet to do your marketing for you will solve a lot of your problems immediately and result in greater income. And, speaking of greater income, the best of the best home based businesses will have a lucrative compensation plan. If you combine a great compensation plan with proven internet marketing techniques, then I’ll see you at the bank!
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