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Making Money in a Home Business, What you should know first

Aug 27, 2008
Making money from a home business sounds like a winning plan. Before you make your decision to invest in any home business opportunity there are several items which you should carefully consider. I will highlight the most important of those items in this article.

Its important to consider training. If your not a pro at what the company is doing, how do you become one? How much training will you get, in what form? Do you have to travel to receive the training or can you get it at home? Are there additional costs involved or is it company sponsored? You'll want to ask these questions before you invest. You'll want to have answers to all of these questions before you start.

Certainly you want to consider your budget. You have enough to invest in the initial "opportunity". Now what? What are the additional monthly expenses which will be ongoing? Is there a fee to host a company website? What about a calling service? And have you considered your marketing budget? Think about your expenses before you invest and also understand that it might be some time before you see a profit. You're probably investing in a business opportunity which means that there is no guarantee of a paycheck coming in a week or two weeks.

What are the chances of duplication? What I mean by that is usually when you start a business opportunity there are those people who have already developed a "system" which is very successful. Can you plug into the same system and expect to have the same results? You'll also want to find out if your sponsor is going to be with you to get you started in understanding what you have to do to be successful.

You'll want to be aware of leverage and how to best use it. You'll want to seek an opportunity where you can market and sell to more than one person at a time. This gives you the advantage of leveraging your time. Also, you'll want to be able to leverage your money by careful placement of advertising either on the internet or in the print media such as newspapers or magazines. These both give you the advantage of being able to market to the masses rather than individuals.

How will you approach your marketing? You'll have to take a close look at the product or service that you are offering and see what the best approach will be. If your product or service is one which comes in a digital format which can be downloaded, you can literally market to the world. If you have to schedule a face-to-face appointment to make a sale then that will change your strategy completely.

Do you believe in the product or service? Is the product one that you use personally and are happy with the results? Are you a walking endorsement for the product or service? Good, if this is the case, you'll have no trouble. If not, you might find it to be a rough go. People will know whether or not you believe in what you are selling, and your results will be tied to that belief.

The compensation plan and business structure is something that you'll want to take a careful look at. There are a lot of opportunities in which you have to "pass-up" your first one or two "training sales" to your sponsor. You are told that this is o.k. because after you are "qualified" and in a position to earn profits everyone who you sponsor will then be "passing-up" two "training sales" each to you. Two things to consider, after you pass up two sales to your sponsor they no longer need you (they're not going to make any more money from you) and might go missing in action, and second you and your sponsor are now competing for the same new members - great set up.
About the Author
Before you decide to Make Money Online or purchase a Home Business be certain to read George Kenney's excellent article and, be sure you'll have training, an adequate budget, marketing support, and you have a product you love.
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