subject: A Legitimate and Proven Home Based Internet Business- Do they exsit? [print this page] Everyone that is looking for a home based internet business is looking for a company that is legitimate, financially stable, extremely profitable, has a great reputation and has a proven step by step system for success to follow. There are a lot of great companies that fit these criteria in both the Multi Level Marketing (MLM) and Direct Sales Industry. The challenge is sifting through all the junk on the web to find a great opportunity to get involved with.
We all want success, financial security, lifestyle, freedom, residual income and a shot at making a difference in our world. However, the truth is 97% of Home Based Entrepreneurs spend more money than they make. That is a staggering statistic and it's very discouraging for fledgling entrepreneurs who are desperately searching for a financial vehicle that can move them from a life of debt to a life of prosperity and financial freedom.
The following factors are the most important things to consider when choosing the right home based internet business whether it's Multi Level Marketing (MLM) or Direct Sales:
Track Record- How long has the company been in business? Are they profitable and debt-free? Don't get sucked into the hype that surrounds "Pre-Launch" opportunities that promise you a position at the top. Sure the greatest reward goes to those that take the greatest risk. I understand that. All I'm saying is that if you choose one of these "Next Big Thing" companies that you need to accept the fact that you could potentially lose everything that you have invested into a company that is still in its infancy.
Compensation Plan- To make a 6-7 figure income in a Multi Level Marketing Company (MLM) you will need to recruit thousands of people and sell a lower priced product that has a small margin of profit. In this type of business model the "Law of Large Numbers" applies. To make a 6-7 figure income in a Direct Sales Company the majority of your income is generated by selling higher priced products that offer a larger profit margin. There are some Direct Sales Opportunities where you can earn $1000.00 or more for every sale that you make and also earn residual income by recruiting new reps into your Company and earn an over-ride on the sales that your recruits make. The Real Estate Broker business model is an example of a Direct Sales Opportunity.
Marketing Plan- How does the company market its products and opportunity? Do you need to sell your friends and family, invite people to hotel meetings and house parties, or prospect strangers at the store? It's my belief that the only way to be successful in the home based business industry is to have a combined approach of warm marketing skills and internet marketing skills. However, the majority of your marketing efforts should be spent online, reaching out to home based business seekers.
Product Offering- The Home Based Business Industry is flooded with vitamins, juices, potions and lotions. These types of companies rise and fall quickly and they also have higher distributor attrition rates. The key is to find a niche market that is under served and ripe for the picking.
Ultimately we are all individually responsible for our own successes and failures in life. The key to success is persistence. You must be willing to "Fail Forward". Most entrepreneurs have failed many times on the journey to financial freedom and success. You may have to try several different opportunities before you find "The One". If you will seek out opportunities to improve your skills set (i.e. Internet Marketing) and associate with successful mentors you can find a Proven Home Based Internet Business and have the Success that you desire. We all know that success is not guaranteed and most businesses fail. So be prepared for the worst, yet plan for and expect the best. One thing is for sure you miss all the shots that you don't take!
A Legitimate and Proven Home Based Internet Business- Do they exsit?
