Home Based Business Opportunity Seekers – Does Your Business Meet These 7 Requirements?

What?

You mean my home based business has to meet seven requirements in order to be successful?

Sorry, but, YES.

Any home business that doesn’t meet the following seven requirements is much less likely to succeed. You’ll see why when you read them.

1. Your home based business must be profitable enough to pay you the “salary” you want, with enough left over to reinvest in the business. If you want to earn a good full-time income of say $50,000 per year or more, make sure your business is capable of providing that level of profit. If all you want is an extra $500 or $1,000 per month, that is fine too. But, you still must have some extra profits to reinvest so your business keeps going, and hopefully growing. If you don’t reinvest some of your profits in your business, it may just surprise you by drying up and blowing away. Pooof!

2. Your business must seem easier to you than most other ways of earning money. Though no business is really easy, your business should almost feel like it isn’t work. That only happens if you love what you do in your business. You love the topic your business focusses on. You love the products involved. You love the market you are providing products to. And, you love the people who are your prospects and customers. If you have a passion for your business and you love it, then your business, and all the so-called work involved, will seem easy to you. When it seems easy, you will almost certainly be more successful.

3. Your home business must provide real products or services that have real value to your prospects and customers. I’m sorry, but multi-level marketing schemes that focus more on the “opportunity” than on the products, don’t seem real to me. Neither do envelope stuffing schemes, get-rich-quick scams, and so on, and so on. Do make sure your products offer real value and help people solve their problems, meet a need, or satisfy a strong desire. Price your products fairly according to the value they provide. Be honest in all your dealings with your prospects, customers, and suppliers.

4. Your business has to enable you to, or at least allow you to, live the lifestyle you desire. If you are working 16 hours a day at your business every day without a break, if you can’t get away for a vacation without your business drying up, if you have no time for your spouse and kids, is that any way to live? No, decide up front what kind of lifestyle you want. Then, make sure your home business fits with that lifestyle. Otherwise, your business won’t be successful long-term.

5. Your home based business needs to make use of the internet as a marketing channel. Yes, you can succeed in some businesses without a strong online internet presence. And, you definitely should also consider some non-internet “offline” marketing methods. But, in today’s business and marketing world, if you aren’t using the internet to market your business and your product, you will be much less successful than you could be. If you haven’t already done so, make sure you select a good domain name, obtain web hosting, create your website or blog, and do a good job of search engine optimization for your site, so it will more likely be found by the search engines like Google and Bing.

6. Your business and your products or services must be better in some way than those of your competitors. In other words, your business must be competitive. Think of it this way…if your prospects can get everything you offer from ten or twenty other companies, why should they buy from you? Your home business and the products you provide must enable you to create offers that are better than your competitor’s offers. Maybe you offer a better value. Maybe your products provide more information or perform better. Maybe your guarantee is better. Maybe your product is provided in a better and different form. Whatever the difference is, you will be competitive if your offer is virtually irresistable. It should make the prospect feel like he would be foolish not to buy your product. A better product and an irresistible offer will result in long-term success for your business.

7. Your home business should be set up so you can test your products and your marketing methods at very little expense and very little risk. A traditional business on main street, or a new factory, can cost hundreds of thousands of dollars or much more. Many such businesses fail within 5 years. All that money and time and effort down the drain. Make sure your home business is the kind of business that allows you to test a new product or a new marketing method quickly and at low cost. Then, throw away or stop using the things that don’t work. Invest more and more in the products and marketing methods that succeed and return a real profit to you.

The Home Based Business that meets all seven of these requirements will be successful.

As a side comment, the only business I have personally found that meets all seven requirements is the business of selling information products (like books, ebooks, courses, audios, videos) using the internet and email for marketing.

21 Key Questions To Ask Before Starting A Home-Based Business – They Do Need Answering

Before starting any home-based business it’s imperative to ask yourself a few key questions.

The questions have to do with three main areas of business – the business type itself, the products themselves and the services offered. For this article, the home-based business will focus on eco-friendly health and wellness products although most of the questions will equally apply to any product sector.

In terms of the business itself, you may have already decided, after researching the vast amount of data online about home-based businesses, that this is what you really want. Home-based businesses are viable but do require planning and work.

In terms of the products themselves, you may have stumbled across or been told about some amazing new product or discovery or you may have been a user for many years. In either case, you want to share all this ‘good news’ with as many others as possible.

In terms of the services offered, you may be in a position to offer home-delivery, no-question, money-back guarantees or even be the money collector for the supplier.

Let’s look at the first area – the BUSINESS itself. Here are some must-ask questions.

Will I be able to…

  1. Earn residual income as well as make the money up-front?
  2. Be my own boss or CEO? Maybe this is important because you have always worked for someone else and have never been boss. Be careful here – being boss means doing ‘bosses’ kind of work.
  3. Do the work from home? This may be the most important thing because of physical circumstances, transportation limitations and more.
  4. Get sufficient business training when I need it?
  5. Avoid direct selling because I am not a salesperson! That is, will I be using warm and/or cold marketing techniques?
  6. Earn the income while genuinely helping others? This may or may not be important to you. Do you want to just provide products or do you genuinely want to help people improve their health, wellness, lifestyle or whatever by these products?

Will I have to…

  1. Lay out a lot of ‘start up’ money? How much and when in the start-up process?
  2. Carry inventory? Do I have space and do I want to keep boxes of product in my home?
  3. Offer personal satisfaction guarantees? For example, will I be offering the return policy or will the manufacturer be offering the robust return policy?
  4. Purchase the products for my customers and then have to deliver them’?
  5. Be involved in the money exchange?

Now, let’s look at some PRODUCT questions.

Will the product(s) that I am involved with…

  1. Provide a healthier home, body, skin, nutrition etc
  2. Be environmentally ‘friendly’?
  3. Be safe to use for adults, children and even pets?
  4. Use scientifically tested and verified ingredients?
  5. Have a proven track record?

Lastly, I want to look at the area of SERVICES. If you are putting yourself out there as an expert and the CEO of your own, established and creditable business, you should ask yourself the following questions.

Will I or should I be offering…

  1. Membership Protection (if there is a continual membership required) such as auto re-ordering?
  2. Online ordering?
  3. Door to door delivery?
  4. Strong product support from the manufacturer or his representatives?
  5. Strong team support if this is a type of business structure that involves up-links and down-links?

It seems like a lot to think about, but I assure you that these are all important questions to ask no matter what business area you are contemplating.

I have personally found in the eco safe health and wellness products arena, that these are critical questions to ask yourself. And, it is important that you be satisfied with the answers before heading into the world of home-based business.

Slow down, take some time and ask these tough questions. You will be the better off for it.

How to Choose A Home Party Business

People love a home shopping party. In the convenience of their own home, they invite friends and family to shop without heavy crowds, noisy distractions, or inclement weather. Moms in particular appreciate the flexibility of home shopping parties. Before signing up, take time to research each company. With effort, you can choose a reputable company and make money from home with your own party plan business.

Products

Products you can sell as a work from home party business include:

  • Arts and Crafts
  • Baby Products
  • Bath and Body or Spa
  • Books for Adults and Children
  • Candles
  • Cleaning Supplies
  • Coffee or Tea
  • Food
  • Handbags or Luggage
  • Jewelry
  • Kitchen Tools
  • Organizational Aids
  • Romance or Adult toys
  • Skincare and Cosmetics
  • Toys

How to choose a product to sell

Choose home party products for which you possess passion. You will find success when you sell a product you use and love. If you do not currently use any home party products, look for consultants in your area. Consider purchasing a few items to test and inspect in your home before starting your work from home business.

Ideally, home party products should be able to sell themselves. Choose a quality product that creates continuous revenue. Customers will pay more for products that produce the promised results. Additionally, consumable products such as makeup, food, and candles produce repeat customers. Look for a unique product with a distinctive sales angle or unique characteristic.

Choose a product with a money back guarantee. Customers feel confident purchasing products from a company that guarantees their sales. This guarantee also gives customers a chance to try new products with little risk.

What to look for in a company

After you choose a product, investigate the company. Join a company with compatible philosophy, ethics, and values. For example, an animal lover would not want to sell products that are tested on animals.

Discover the sales requirements. You may be willing to sell a quota each month or perhaps you would rather enjoy more flexibility. Consider your home responsibilities, annual vacations, and seasonal obligations when deciding if you can regularly meet the quota requirements.

Sign up to sell products for a company that offers free training and free assistance. You will be your own boss, but you answer to a corporation. Be sure you will receive adequate assistance with product questions, order placement, and customer service. Ask about booking tips, recruitment help, marketing strategies, and messaging boards for consultants. Many companies offer annual conventions as training and networking support for consultants.

Understand the commission. Not only do you need to understand the earning potential, but you also need to be able to explain it to others who may also wish to sell the product. Ensure the product sustains the level of income you require. Ask about rewards, incentives, and promotions for new and veteran consultants.

Find out how much inventory you must purchase in advance. Companies may offer pre-packaged sales kits or allow you to pick which products you wish to buy.

A quality company provides quality tools to sell their products. Inspect brochures, order forms, video presentations, websites, and sample products offered. Ensure these tools are customer friendly. Additionally, discern how much you will pay to purchase the sales tools.

Choose a company that allows flexibility in sales venues. Companies may choose to restrict where and how you can display or sell their products. You want freedom to market and grow your work from home business at various locations such as business expos, community events, yard sales, and open houses.

Getting Started

Successful consultants possess organization skills with friendly and outgoing personalities. If you enjoy meeting new people, talking about a product, and traveling, you may find success in this business. Be willing to accept the reality of regular evenings away from home and consultant requirements such as a business bank account or internet access. Additionally, you will need a calendar to plan parties and a phone to contact customers.

After you receive your starter kit, familiarize yourself with the products, brochures, order forms, and consultant resources. Print business cards, and ask friends to host parties. Host an open house with other home party consultants to display your products and offer customers one stop shopping.

Customers appreciate a genuine consultant. Concentrate on placing the customer first rather than on making a sale.

Home party businesses offer flexibility and a variety of products for everyone. Find a product you use and love to start your successful work from home business. With effort, you can make money in sales to support your family and open a successful work from home business.