11 Questions you must ask when you're looking for a home based business
- 1. How much is the start up cost? Are there ongoing costs? If so how much? This is especially important if you very low on funds and now days who isn't? Often a business can cost more to start that what it may appear to begin with. It is also important however, to realize that you have to spend money to make money.
- 2. What kind of training and support is there? The training and support offered by a company will make a huge difference in your success. Do you have a quality up line with good ethics and leadership skills. Are they dedicated to helping you succeed? If the training materials and company leadership are good, you will grow your business faster and it will be easier.
- 3. What are the rules for advertising your business? Many businesses have rules regarding how and where you can advertise. In some cases you may have strict limitations and in others you may be able to do more or less whatever you want. In any case, it is very important to know and understand what you can and cannot do. For example, the company names are often copy-writed and therefore you are not free to use them in your advertising without permission.
- 4. What are your options for promoting and running your business? Are there any restrictions on what you can do? This is important because some companies have restrictions on this and the more restrictions the harder it will be for you to be successful. Also the more options you have for selling your products and or promoting your opportunity the easier it will be and the more money you will make.
- 5. What is the income potential? Some businesses have more income potential than others and before you invest your time and money into one you should understand how much you could expect to make.
- 6. How long have they been in business? A brand new company has no track record and it can therefore, be unstable. A company which has already been in business for a few years has the advantages of new opportunity along with stability while an older company already has a lot of reps and customers and it may be more difficult to find your own.
- 7. What is their Better Business Bureau record? If its perfect then you know you are dealing with a great company. If its less than perfect but it still has a good record then you know it is reliable. If its record is bad then stay away. It is probably a scam.
- 8. What are their products like? Are they high quality? High quality products will endure and sell better than products of a questionable quality.
- 9. Is the product consumable? Will people reorder the products? Consumable products offer the business owner more money because people will reorder and buy more. Non consumable products can only be sold once and then you have to go out and find more customers.
- 10. What are the quotas or ordering requirements? If you are required by the company to buy a large quantity of products on a regular basis then it can be difficult to maintain the business or it can be financially stressful if you need to temporarily stop working your business. The last thing you want is a basement full of unused products.
- 11. Are the products affordable? The majority of the population must be able to afford your products. The more expensive it is the harder it will be to sell, because less people will be able to afford it.
A Part-timer's tactics for a full-timer's income
Are you wondering if you can successfully work part time and generate the same income as someone who works full time? It can be done but there are several things you must take into consideration.
- 1- How much time is part time? In order to be successful you must work at least 15 hours a week. Any less than this is not part time but spare time and there is a big difference.
- 2- How well organized are you? If you are only working part time, it is even more essential that you get organized and stay that way. Disorganization will contribute more to your failure than to any other characteristic.
- 3- Learn to take advantage of every minute. You only have 10 minutes to make phone calls. So what? 10 minutes is 10 minutes so get calling.
- 4- Prepare information packets in advance when you have extra time and store them in a specific and separate place so when someone asks for one you will already have them ready to go.
- 5- What time wasters can you give up in your life in order to create more time? Examples include: TV watching, going to movies, reading your email too many times a day, long telephone conversations with friends, etc.
- 6- Plan your working schedule a week at a time and DO NOT let anything interfere with your working time. Know when you will do what. Be specific. Assign times to each task.
- 7- Invest in some organizational and time saver materials. Examples include alphabetical files, a day planner, and a timer.
- 8- There are many ways of organizing your time online as well. Instead of bookmarking everything, use a one page store everything site such as http://www·backflip·com
- 9- Consider paying someone else to do certain tasks. Do you really have to do everything yourself?
- 10- Have a list of items you would like to accomplish but which are not mandatory to work on for those moments when you have extra time or when a certain task took less time than expected.