When You Want To Start Your Own Home Business
When you want to start your own home business
, you are looking for a legitimate home business opportunity, and you must be able to tell the difference between several internet business models. The options for a internet home business in today's home business industry are almost unlimited. First, there are two different main categories of home based businesses: you have the option to offer your own products or services, or you can become an independent distributor with a company or an affiliate for an existing product or service. In this article I will focus on the second category, as this is what most people will do when starting their work from home business.The home business industry can allow everyday people to reach life changing income levels. When you choose the right company this can propel you to a five or six figure yearly income, regardless of your educational background or your previous experiences. It gives motivated people the opportunity to grow a business of their own on a small budget, and to earn a comfortable income.
It can also be the playground for many misleading businesses, so it is important to have a basic knowledge of the different options available.
First I want to address the issue of "pyramid schemes" and how to spot one, because they are not legitimate businesses, they are completely illegal, and you should absolutely avoid them. It is actually quite easy to spot them, as a pyramid scheme is a situation where there is no product or service offered, only the exchange of money. It's a situation where you are encouraged to join an organization for a certain amount of money, and the deal is that you will have a return on your "investment" equal to several times this sum of money. You don't buy a product, you're not selling any product, you simply look for other people who agree to pay the same sum to join the organization. Sometimes these programs are called "gifting" programsjust "people helping people." It's still an illegal pyramid scheme and not a legitimate business. So the first thing you want to look at is if there is a product or service offered. If not, stay away.
Then, there are the multi-level marketing (MLM) companies, who offer a legitimate work from home opportunity, and whose distribution model is network marketing. Network marketing is often the distribution method of choice for companies with unique and high-quality products. This is a highly efficient method of distribution that enables the end consumer to have more information about the product than what could be achieved by selling the product through retail stores.
The MLM industry offers great opportunities, but before you get started, you should keep this in mind: first, the attrition level facing MLM'ers is very high. About 97% of people in this industry are still failing to make money. And people get started in your team but drop out within the first 90 days, all the more so as the initial investment is often so low that people don't loose much by quitting. Then, the traditional methods of recruiting such as buying leads, doing surveys, handing out flyers, cold calling, chasing friends & family, are outdated and will most probably get you nowhere. In order for you to really be successful with an MLM business, you'll need to have access to a very good training and a marketing system that will enable you to generate leads, brand yourself and sign up more people in your organization.
Eventually, there is what is called GPT (stands for Get Paid Today). This model gives motivated individuals the opportunity to reach executive level incomes. Most of your commissions are paid upfront by the company, and you also have the opportunity to earn a substantial residual income from your team members. The initial investment varies from a few hundred dollars to several thousands, and entrepreneurs who join at the higher levels of investment are much more likely to make their business work because of their investment. And if they happen to quit it isn't such a big deal for you because you have been paid your commissions upfront. This business model also tends to attract on average more serious people than the MLM model. And most of the time you also have access to a turnkey marketing system that eliminates or highly reduces cold calling, selling, pitching, as well as a complete training and support system you can depend upon to actually train you on how to market and leverage the internet.
When you are looking for a legitimate home business opportunity, make sure you do your due diligence. There are some awesome companies out there which meet and exceed all the principles above, but there are also plenty who don't. If you do your due diligence then you can find the company that suits you and have the success and the lifestyle you are looking for.
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