What to Look for in a Home Based Business Opportunity

 

When you were younger, did you ever dream of having your own home business? Were you sidetracked somewhere along the way and now get caught in the 40-40-40 rut?

40-40-40 Plan (Rut)

40 minutes planning to and from work

40 hours of work weekly

40 years of life spent working slaving away for anyone else?

When things get unfairly tough at the job, would you still dream of your own home business – what you should do, how you would run your own home business, how you would treat your employees, what sort of money you would make, what product you would sell? Proper you decide to produce a change in your life, do you appear for another 40-40-40 job, putting your dream of your personal home business on the trunk burner again for more of the exact same?

Have you any idea the finish outcomes of the 40-40-40 plan?

1% are wealthy enough to retire in comfort

3% are barely able to survive

27% are dead

69% are dead broke

Do you wish to be in the most truly effective 1% that's prepared to do something about it now, before it's too late? Being fully a former Human Resource Manager, I knew these statistics all too well, and I decided to take preventative measures.

Since you continue to be reading this informative article, I am planning to assume you are looking for a change, moreover, a change as quickly as possible. So, allow me to share a number of the wisdom I've gleaned from looking for a home business opportunity.

Both major focal points when looking for a home business opportunity are ones which will:

· optimize your efforts and time

· produce optimal financial rewards

Here are seven simple criteria to consider when looking for a home business opportunity:

1. Look for a business opportunity that provides something or service that's, or will undoubtedly be, used daily by every household and/or business…

Think of products or services in your own home that probably everyone around the world uses on a regular basis. Like, services such as utilities, communication, appliances, etc., or products such as shoes, clothing, soap, etc.

Now think bigger – something or service utilized on a regular basis AND that could represent a paradigm shift. Like, a paradigm shift was created in global communication when Alexander Graham Bell invented the telephone. Before 1885, nobody had a telephone, nor had they have you ever heard the phrase “telephone&rdquo ;.Today, how many individuals are you aware that not have a telephone or mobile phone?

Another paradigm shift was created when the initial flight was created by the Wright Brothers in 1903. Today, man has already stood on the moon. Make yourself a listing of products or services in your own home as you are able to research to consider for a company opportunity.

2. Visit a home business opportunity that provides something or service that has an international market…

It is a small world. Plain old wise practice would inform you that the home business opportunity with something or service that has an international market would produce warp speed revenue in comparison with one that's only in just a local, regional, or national area. Like, the revenue produced from Microsoft with an international market is light years more than that of a local shoe repair shop.

Additionally, as you research this global home business opportunity, you will want to be sure that you are not required to stock products. It is frustrating to order products, receive and distribute these products, manage backlogs, etc., not forgetting the additional costs out of your pocket for shipping and mailing. In addition, you encounter product changes or upgrades which makes your stock obsolete. So, avoid these kinds of home business opportunities such as the plague.

3. An absolute must! Find a property business opportunity that incorporates leverage in its pay plan…

A company opportunity that incorporates leverage in its pay plan provides the very best of both worlds. Leverage is a not at all hard concept. The most effective example is probably Ray Kroc and McDonald's. Ray Kroc put up franchises for McDonald's that agreed to pay for him 3% of their profits.

Basically, McDonald's sits back and collects 3% of the earnings caused by others exerting their time and their efforts. Let's say, simply for discussion purposes, that Ray Kroc sold 100 franchises and each produced profits of $50,000 that year. 3% could have produced $150,000 for Ray Kroc, yet he personally exerted no effort or time himself. What he did do though was brilliant, as he applied leverage by selling franchises, and became quite a rich man as a result.

Leveraging your property business will minimize your time and effort while maximizing your financial rewards. In a somewhat short period of time, your property business will accept a life of its, and you will undoubtedly be on the fast track to healthy wealth.

To discover a home business opportunity which will rocket you into financial freedom, the organization should incorporate leverage, not only inside their business plan, but also inside their financial rewards, preferably on a regular, monthly, and annual basis – among which will be residual. Residual is very important because you want some kind of steady income as you are able to depend on.

4. Visit a home business opportunity with a company that has live 24/7 support available…

Perhaps you've experienced the nightmare of attempting to produce an automated payment where you are able to not determine which button to push next, or what they meant by their selection choices, and you were unable to speak with an actual person to get your question answered. The frustration even compounds if you find a deadline involved for an extension of service.

Repeat customers comprise 75% of businesses, and satisfied customers could be the main reason for their repeat business with you and your product or service. Even yet in this automated society, the person-to-person contact is preferred, at the very least by the customer. Therefore, your success is based mostly on a property business opportunity with a company that has live, warm bodied live support 24/7 – whether it is support you might need, or support your customer may need.

Another important aspect of a property business opportunity with a company that provides live support 24/7, is the global perspective. What's morning for you may be a day later for anyone else on another side of the globe. To be honest, I am hard pressed to think of an international company with live personal support. Locally, they're even difficult to find! So, whenever you locate an international home business with your own touch, you have found a true gold nugget.

5. Seek a property business opportunity with a company that has a proven success record…

Plenty of people, and plenty of companies offering their business opportunity, will tell you anything they think YOU want to listen to to be able to separate you from your own money. Whenever you speak with someone about a property business opportunity – turn the tables. You interview them.

Don't be afraid to ask the hard questions like what they're making on a regular, monthly, or annual basis with their home business. Question them just how long they've been running their very own home business. Learn how much time each day, week, or month they spend working their business. Question them to provide you with samples of how they market their property business. Especially important would be to ask if they've to spend additional money for items such as business cards, advertising tools, etc.

An example of a company with a proven success record is Xerox. Although Xerox is not just a home business, it's a proven success record. In fact, they were so successful that their name is not only a tattoo, nevertheless the name “Xerox” is synonymous with the phrase “copy&rdquo ;.

6. Look for a home business opportunity with a company that incorporates training from experts and other professionals…

Many people on the Internet do not understand how to harness the power of the Internet and change it into wealth machine for themselves. A lot of people do not understand how to market a property business. Therefore, a property business opportunity with a company that incorporates professional, expert training, taking you from the basics through the advanced stages of an advertising system, including how to utilize software programs, marketing tools, etc., is an electronic gold mine.

Since nearly all people on the Internet are not savvy with just how to harness its power, a property business opportunity with a company that incorporates professional expert training is a definite requisite for success.

7. Look for a home business opportunity where the organization works as a Team.

We all have our personal weaknesses and strengths. We all like to have periods of “fun” when we work. If you have a company opportunity where the organization works as a group, your weakness may be a team member's strength. Like, you may be detail oriented and have a tougher time conceptualizing or seeing the entire picture. However, someone on your own team could be the opposite. Combining your strengths will optimize your productivity.

Additionally, most of us have our “good” days and our “bad” days. Have you ever existed a poor person for any amount of time? They pull you down too! When you have your own home business, you have to be upbeat and project a confident outlook at all times. So, when we have among our “bad” days, it is definitely helpful to have someone from the team help re-focus on the positive. Proper each one is sitting around on the beach somewhere sharing war stories and battle wounds, everyone can have a good laugh.