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Top Ten Things You Should Know Before Starting A Home-Based Business!

Michael Erskine
 


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The first piece of information you want to look at is the history of the company. Does it have a good track record? Be sure to check out the website of the company before joining, and do your homework. There are plenty of reviews out there for most home-based business opportunities.

9. You also want to make sure the company has a “Back Office" to assist you as your business begins to grow. This is important because you will then know about the involvement of the leader or founder of the company. Are they readily available to answer questions, or are they out somewhere spending their money?

8. The next thing you want to research is the product that they are selling. Is there a demand for it, or is the market saturated with too much of it already? Watch out for self-help materials and nutritional supplements. . . those are everywhere!

7. Since you will be selling the product, you should know how it is marketed. What is required of you to be successful in your venture? Some companies require a lot of telephone sales, while others hold seminars and product demonstrations at hotels and houses. The companies I look for use the internet to market their products.

6. Are YOU required to buy the product and maintain a minimum inventory? How are you going to make money if YOU are the one buying your own product?

5. Are the products reasonably priced? People will buy something if they truly believe it is worth it. Check around to see if the prices of the products make sense.

4. Is this really something you want to do? If it is, make the decision and don't look back! Don't let anyone get in the way of your dreams. Family and friends will try to convince you that what you're getting into is a scam, but keep pushing forward. If you continue to do the same thing(s), you will continue to get the same result(s).

3. Do you have time in your busy life to pursue your dreams? Can you sacrifice some things in your life now so that you may be rewarded later? Starting a business takes a lot of hard work. Make sure you find the right one that fits your personality and your schedule. Most people who are interested in starting a home-based business already have a full-time job. Do you have time to be on the phone all day, go to hotel seminars or hold product demonstrations at your home? Maybe an automated business would work better?

2. Compensation plan, compensation plan, compensation plan. Be sure to look at how you will be making money. There are many companies out there that don't actually pay you right away for your efforts. Be mindful of companies that offer the Australian 2-up Pay Plan as well businesses that require “legs. " Typically, your sponsor will get paid before you even see a dime. Ironically, once your sponsor gets paid twice, they no longer make money off of your work.

1. The most important thing to look for before starting a home-based business is how much your sponsor/mentor will be involved in helping you achieve your success! This is directly connected to the compensation plan. If your sponsor only makes money off your first two sales (as in the example above), they probably won't be too interested in your continued success. Also, look for a mentor who already has the systems in place to succeed, and who will train and guide you as long as you are on their team!

Michael Erskine is a top internet marketer who has partnered with a team of marketing mentors to teach others how to achieve their financial goals. To learn more about Michael Erskine and his team of Marketing Mentors, Click Here!

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