Finding the best home business opportunity! (6 of 8)
Starting your own home based business can be an exciting time, but also very intimidating. With so many opportunities available, you want to select the one that best suits you and is a legitimate opportunity. Diving in to the first opportunity you come across can be a big mistake. How can you find the best home business opportunity? It is imperative that you do the research. Here are some questions to ask yourself in the pursuit of establishing your financial freedom with your own home based business.
- Who is and where is my customer base?
- What kind of financial investment do I need to make?
- Is there an actual product?
- Can I offer my product(s) to the general public without their commitment to start a home business opportunity?
- Is there a money back guarantee for me and my customers?
- When do I get paid and how long before I start making money?
- Is there a support team?
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Is there an exit strategy?
Today let’s look at question six: When do I get paid and how long before I start making money?
The best home business opportunity will give all the details concerning compensation before you join. There is no question they will let you know what the successful people are doing. It is good to know what is a realistic expectation based on anticipated efforts. I understand the typical response is that there is no way of knowing how successful someone will be, but it is not too difficult to tell if someone is being unrealistic and needs to be given advice.
I spoke with a prospect this past week who had no money for advertising, was not using a warm market, and did not anticipate having the time to dedicate to “free” marketing. He thought he could find one or two hours a week including training time. Of course he wanted to know what I thought he could make if he joined my opportunity. I realistically told him it would be a waste of both our time and until his circumstances changed I did not think he stood to make any money with my opportunity. I did tell him in a diplomatic manner in case his circumstances change.
Things to know:
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Do I make any money on my first sale? If yes, do I have to share it with anyone?
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Do I need to qualify to make the commission? If so, what is required? Do I have to buy something or make a certain number of sales?
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If qualification is required by having a number of sales do I have to pass up the income stream permanently?
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Do I get paid first and forward money to the company or does the company get paid and them send me my cut?
The best home business opportunity will allow new people to position themselves in an income producing position quickly. Typically they will have some form of instant qualification to sell an upscale, high commission product with no pass-up sales. This said, many people have been successful with companies requiring pass-up sales and partial commissions. The likelihood for success increases when pass-up sales are not required. The trouble happens when the first sales are difficult and the reward for making them is losing the down-line to one’s sponsor. It can also be troublesome for the newly sponsored person who found trust in their sponsor only to be handed off to someone else.
Next post we will address question #7
Mike Mitchell
http://www.mikemitchell.biz http://www.strategicwealthsystem.com http://www.thesecret.strategicwealthsystem.com
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