Outstanding Home Businesses - The 25 Most Important Things to Look For In a Perfect Home Business
I looked at over 85 businesses and actually got started in a couple.
In the very beginning, I did not do so well because I did not really know what to look for in a home business.
After trying a couple of turkeys, I found a really good one, and then another, and then another.
All together I found what I consider to be the five best home businesses in the world.
I needed to study over 85 businesses and talk to hundreds of experienced people to make sure I found the best ones.
I even wrote and published an informative and inspirational book on the subject entitled The Money Solution.
Now, I know exactly what to look for to find the very best home business.
As we all know, not all business opportunities are created equal.
There are 25 key things to look out for in doing your due diligence.
I would like to share them with you.
The 25 Most Important Things to Look for in a Home Business:
- Respectable founders and execs- Don't get mixed up with scoundrels and losers.
Hook up with reputable people who have had some success in the past. - Company leaders with good integrity- Look to make sure you find a company that does what it says it will do.
False promises that don't deliver are out of integrity. - Excellent products and services- Find a company with quality products or services that you like and believe in.
They can be products you will use or sell or both. - Excellent business model and plan- Find a company with a business model that you feel you can do.
It has to be doable. - Excellent compensation model and plan- Businesses are designed for people to make money.
Don't work for nothing.
Find one that will reward you for your efforts.
- Excellent income potential- Look for good profit potential that will create the lifestyle you want and make you happy.
If you want to earn over $100,000 per year, don't go with a company where you'll be lucky to make $40,000.
- Excellent systems- Make sure the company is organized, systematic and can run fairly smoothly.
That means good technology too. - Excellent training and resources- Just like every job, every business requires training.
In fact training is key if you want to become profitable quickly.
Look for outstanding training. - Easy to do and manage- Can you do the business?Do you see yourself working it on a weekly basis?Will it be manageable?
- Leveraged compensation- That's what owning a business is all about: getting paid for the performance of others.
Leverage can create millionaires. - At least some passive income- It's nice to wake up and see that you made money.
It's also nice to be able to work for a few years, then cut back or stop, and still earn a monthly income. - A match with your interests- What floats your boat?Travel, technology, personal development, health and wellness products, or something else?Find something you can get excited and passionate about.
- A match with your abilities- You will need to learn in every business, but make sure you will be able to run the business after you learn how.
- Affordable startup and monthly expenses- Every business in the world, if legitimate, will require some start up investment and monthly expenses.
Make sure it is affordable until the money starts to roll in. - A business good in any economy- Yes, it's true.
A few businesses actually grow and prosper in a poor economy.
And make sure you can get rich in a strong economy too. - A growing company- Don't go into a declining company.
Look for good growth or the realistic prospect of good growth. - A growing industry- Look at demographic trends and target markets.
Find industries that are growing.
There are actually quite a few. - A business that is fun- Home business can be fun.
After you start making money, they can be a blast!Enjoy it. - A company that helps others- When you give to others, you will get something good in return.
That goes for both companies and entrepreneurs. - A company that provides real opportunity- Go with your gut here.
Do you sense a real opportunity?If so, go for it! - A company good for everyone in it- Look for one that can benefit the rookies and well as the top producers.
- A company with many good earners- A company with good earners is proof that the system works as long as you put in the work.
- A company with good retention- If too many people start and quit, there is something wrong with the company.
Look for one where some people have been there for a while.
It shows their system works. - A company with happy members- This is the litmus test for a good company.
If others are happy, chances are you will be too. - A company built to last- It doesn't matter if the company was founded 50 years ago or last month, look for one with visionary leaders that will constantly improve and build the company to last.
Find a good one, and then just get started.
Believe in the company and believe in yourself.
Learn the business, follow their proven system, see what successful people do, take focused action and you can do very, very well.
Remember: A great company + Your good effort = Great results.
We all know of people who have been very successful in business.
The one thing they all have in common is that they all got started.
I'm sure they all made some mistakes along the way, but they got started.
If you dream of being a successful home business owner and entrepreneur, your key first step is to pick one and get started.
The time is now! You can't get rich just thinking about it.