How to choose the right Home Business for you
There are so many Home Business Opportunities out there; it can be hard to know which is the right one to choose.
If you have never run a home business before, knowing what to look for in an opportunity can be a challenge, particularly when looking at network marketing options.
To save you a lot of time and indecision, here are my top tips for finding the right company and opportunity for you so you can start your business with confidence.
These tips are not specific to any one company, but if you are curious to know which company I choose to build my home business alongside, and why, you can visit the Your Future page…but first, check out these tips!
The 5 Things to Look For in a
Home Business Opportunity
1. Choose a product or service you Love
If you are going to build a home business around a specific product or service, then make sure that it’s one that you love and would use even if it wasn't part of your business.
To create authentic and lasting relationships with your customers and offer them the best service and advice, then you have to be using the products (or service) yourself.
This not only gives you total confidence in them – it also gives your customers, and potential customers, confidence in them too!
Whatever business you’re in, product volume is a central part of your ongoing success, so choose a product you genuinely love and can’t wait to share with others.
2. Choose a stable Company to work alongside
We are fast learning that there are no guarantees when it comes to companies in the modern world.
And this holds true within the network marketing world too, where many new companies fold within their first 7 years.
If you want to build a stable home business that is going to support you and your family for many years to come, then you want to choose a company with an experienced leadership team, proven track record, and rock solid financial situation. Most companies matching this profile are very proud to share this information with you.
3. Choose a Home Business that reflects your own values
Most people are motivated to start their own home business for the attractive financial rewards available, but this alone will not motivate your continued success.
Take some time to think about the difference you want to make in this world. Also, consider the types of people you want to serve and then select a company that matches these desires.
If you already have a business and you are looking for an additional revenue stream, then choosing a company with values that reflect those of your existing business is all the more important. You want your new offer to be credible and something that your existing clients will love as much as you do.
When the values of the company you choose to work alongside match your own, you’ll have a more authentic home business and be in a strong position to build lasting relationships with your clients. You will also find yourself much more motivated to invest the time and effort needed to achieve lasting success.
4. Choose a Sponsor who inspires you
Your sponsor can help you get your home business off to a flying start by providing you with some early guidance and support.
I’ve heard network marketing described as ‘self-development with a pay cheque’ and I’d wholeheartedly agree with that. I feel like I’ve undergone an MBA with all the training, coaching and mentoring I’ve received – coupled with the opportunity to put everything into practice immediately.
While you have to take responsibility for your own learning – no one can do it for you! – having a sponsor who inspires you, especially in the early days, can really help you get some traction into your home business quickly.
This doesn’t mean that they have to be someone with years of experience – just someone who has the ‘get up and go’ and desire to help you while also building their own business.
5. Choose a Compensation plan that suits you
While most network marketing companies have a similar model, they all have some differences in their compensation plans.
It’s important to take a bit of time to understand these so you can choose one that suits your style of working.
For example, some companies have monthly targets that you need to hit or your lose part of your income or drop down to a lower-level of bonus; while some people thrive on this kind of incentive, for others, it’s too much pressure.
Have a think about what motivates you and what you are willing to commit to in order to secure your home business success.
BONUS: 10 Quick Network Marketing Success Tips
If you are going to make it in network marketing, you need to:
- Be clear about your Why from the beginning
- Work on your personal development every day
- Learn all the basics quickly and do these to a high standard consistently
- Get clear about the number of hours you can commit to your business and plan to make the most of your time
- Attend all the training and company events made available to you
- Commit to giving great customer care
- Get out and meet people regularly
- Work on your mindset
- Don’t give up at the first ‘No’ or even the first 10 ‘Nos’ – success takes time and everything is a lesson
- Have Fun!
Finding it hard to decide what to do?
Making a decision that could potentially change everything is never easy. But I've prepared a post with some helpful tips and guidance on how you can make the right decisions every time.
How I can help you