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Tips For Starting a Home Business

Aug 17, 2007
There are many variations of home businesses. There are Distributors, who stock, sell and collect money. Lead providers generate leads for others. Webmasters design websites. Network marketers promote a product and build a team. Online website store and many more. I just named a few off the top of my head.

Now here are the main factors when looking for a home business in order of their importance.

1. Compensation plan/residual income.
2. Duplication.
3. Start-up costs
4. Products
5. Sign-up and start making money.

You have to find what fits your time and budget. You also have to really look at each businesses compensation plan. It is important to have great products that you trust but it is equally important to have a compensation plan that matches that trust.

I've only worked a few home businesses. It was not the company, the products or my leaders. I quit or just stopped working my home business because of the compensation plan. Now knowing this in the beginning gets very frustrating and turns you off to having a home business.

Some compensation plans are so complicated it's too hard to figure out. I've found a compensation plan with the power of two. You know 2 people or can talk to 2 people, right? Look at that in a bigger picture. You help 2 people, each of those 2 people help 2 people. Now you have 6 people in your business and you only helped 2. Now those 6 help 2 and the total is now 18 then 54 people and so on. Remember you started with just 2. The best part is you get residual income from each of them.

Residual income. Definition. When someone signs-up you get a percentage of what they purchase while they are still with the company. What a great concept. They pay people to market their company and products and you get paid. Keep in mind the compensation plan. Make sure you know what that percentage is and how to get it. Some companies have strict rules that you have to follow.

Duplication is the second big factor. If you have to jump through hoops to sign someone up then you can't expect that person to do the same. I've found a company that does everything but talk to people. You advertise the website. They keep track of who looked at your website and they send follow-up emails. Someone signs up they send training emails. As a good business practice you should call and offer assistance with any questions. It's simple. They even offer strategies giving you different ways to advertise your business.

Start-up costs. Big factor. Keep in mind the compensation plan. If you can recoup the money you spent in a short time then it's worth it. Starting for 2.95 to test drive a company is a great way to start your business for 30 days. It gives you a chance to try the products and the compensation plan with little risk. Sometimes having a lower start-up, means there are upgrades that cost more. Keep in mind your budget and how soon you can recoup the money.

Tip. Before you send any money for anything, check the Business Better Bureau.

Lastly, the products. You might be thinking, why are the products last? Well, before you even try the products you have to know all the facts. When all the above meet your needs and wants, then sign-up and try the products. Learning by using the products is the best way to tell someone about them. Reading testimonies from others is great but when you have used them yourself then you have a real connection. Keep in mind any guarantee the company has. If you have 30 days to try them and you don't like them make sure you return them according to the company's requirements.

Now that you have done all your research, sit down and chose what fits within your budget. After you pick the right compensation plan that you understand, you know you can duplicate the process and you like the products you have a business you can tell everyone about it. Start advertising. The sooner you do that the faster you will earn an income.
About the Author
More information I'm a wife and mother of 2. I've found a great home business. Take a tour and check it out.
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