If you are in the market for a home based business, listen closely. There are business systems out there that are little more than a glorification of their owner. Self-proclaimed “gurus” selling dreams that once purchased, leave the buyer in a lurch. My advice to you is to ask plenty of questions and get as much training as possible from free online workshops. I’ve outlined 10 questions you should ask before investing in any home business. As they say, “Buyer, beware!”
1. What is the nature of the company?
Forget the phrase “home based.” Business is business and if you don’t do your homework and ask tough questions you increase your chances of taking too large a risk. One of the primary causes of business failure is simply not being knowledgeable in your own business. Make sure you know the full nature of any business you invest in.
2. How long have they been in existence?
Business ventures come and go. Many home based scams die out only to reinvent themselves under another name. Find out exactly how long they have been doing business under said name. The research will reveal whether the same owner has been involved in any unscrupulous or failed businesses previously.
3. What kind of products are they selling?
Are the products something you can believe in and use? It’s hard to be committed to something if you don’t believe in it. It is just as hard to sell something if you don’t use it yourself. Using your own products is the best testimony of those products.
4. How will this business satisfy your wants and needs?
Will this business provide the financial support that you need and desire? Will your personal life have to suffer in order to be successful with this business? If answer “yes” to either of those questions, you should not invest your money or time. Home based business should provide the monitor support you require as well as fulfill that aching desire to be an entrepreneur.
5. What is the compensation plan?
How quickly will you be able to see financial results from this business? How often do payments go out and is this system dependable? Be wary of “overnight success” stories. Any business venture that claims overnight success is probably a scam waiting to happen.
Always stick to the old adage “if it seems too good to be true, it probably is.” Steady income is a life requirement. That is what you should be looking for in any home based business.
6. Are their ideas something you could support?
What is the Mission Statement of this business? If you don’t feel comfortable with a business it will be hard to maintain the desire and commitment that are needed for success. Your home based business must be something you can proudly display as a reliable business solution.
7. Could you see yourself working at this?
The right mixture of vision and passion is absolutely necessary. If you can’t imagine yourself working at this wholeheartedly, then this business isn’t for you. Just like brick-and-mortar businesses, online businesses require daily upkeep and dedication from their owner. If you are unwilling to put in the time, you are setting yourself up for failure.
8. How is the system laid out? Is the system easy to understand or complicated?
Are you at ease with the layout? If the business plan is too difficult for you to understand, ask questions. The inability to understand the business plan could potentially mean there is a scam waiting to jump out at you later. If, for any reason, you are uncomfortable with the look of the business plan or information flow, back out. Before you invest your money, you have no vested interest in the business.
9. Have you heard anything good or bad about them?
Be sure to do plenty of research on the company. Ensure they off a good free online training workshop. Check with the business bureau in the city where they are located. Search the Internet for any reviews or gossip. Ask friends and colleagues if they’ve heard of the company. Thorough research and follow-up questions on any negative rumors could save you a lot of time and money.
10. Are they heavily marketed at the moment?
How many marketers are working in this business? The downfall of many home-based businesses has been over-saturation. Too many people working the same business spreads it too thin to allow it the opportunity to be your only business venture. You may quickly find yourself looking to add to your business portfolio.
For an honest look at what’s working in home-based businesses, go to someone who is already doing it. Seek out someone who is right there in the trenches, making it happen. The fact is, you can have the business and life that you’ve always dreamed about.