What Makes A Home-Based Business Successful

If you’re looking to work from home you have many choices. There is no shortage of people willing to take your money in return for a home-based business opportunity. How do you know which opportunities are legitimate businesses and of those which one is right for you. Before you decide if the business opportunity is right for you here some things you should look at.

•The company
What is their track record, how long have they been in business, what is their standing with the Better Business Bureau?

•The product or service
Is this something people want or need, will you have competition, is it priced competitively

•Support and training
Are you completely on your own or will there be people and resources to help train and guide you

•Cost
Is the product or service priced competitively, is the cost of starting the business affordable for you and others

•Compensation plan
Is the compensation plan fair, understandable, and most of all can you make money

When researching the company check with the Better Business Bureau. If a company has no complaints that are no guaranteeing that they are a reputable company. Likewise, one or two complaints does not necessarily mean the company is bad. It’s just one more little bit of information. Remember anyone on the web can write about a company in a positive or negative manner, so you need to do more than just read anonymous opinions. It is best if you can talk to a person that you know and trust that has first-hand knowledge of the company. The key here is to be thorough and take your time; you should not feel rushed or pressured into making a decision.

When deciding whether to start a home-based business the product or service is very important. There is a difference between wanting something and needing something. If what you’re selling is needed by many people you have a much bigger market in which to sell and are more likely to be successful. The price of the product must be competitive. Some network marketing companies claim their products are a higher quality than similar products available in stores. And because of this their prices are a little higher. Even if their claims are true and their products have better ingredients you’re now at a disadvantage in competing for the sale. Another important factor is convenience. Not everyone wants to shop a month in advance for house daily household products. Or have to fill out paperwork, or have a small window of time in which they have to pick up their products. The process must be fast easy and fit into their busy schedules.

The company must provide support and training. The training should be ongoing, and you should have a mentor or person that has an interest in helping you succeed. They should provide websites and conference calls as training aids as well as one-on-one conversations with your mentor. Think of them as your business partner. They are there to help you but remember it is up to you to ask for help. The lack of a large paragraph here on training and sport should not indicate that it is not very important. In fact it is very important. The chances of you succeeding all on your own without any help or training are very low.

We have already talked about the cost of the product. It must be competitive! But the cost of starting and maintaining the business is important also. Does the price make sense to you, will others be able to afford it. The price range for home-based businesses range from just a few dollars to several thousand dollars. Only you know what is right for you. Just remember in order for you to be successful presenting this to others you must believe that the opportunity is a good one and that includes the price.

There are many different types of compensation plans. A few of the different types are unit level plans, forced matrix plans and binary plans. I am not going to go into detail of the different plans here, but you should know there are several out there and they differ greatly. If you are seriously considering starting a home-based business you should research that company’s specific compensation plan. If someone introduced you to a business they should give you specific detailed information about the compensation plan. It should also be on the company’s website, explained in detail and understandable.

There are many different home-based businesses out there and if you look hard enough you could find several people in each one that are very successful. But the bottom line is can you be successful? Is this the right business for you? Why do some people succeed in a particular business while others fail? Of course there are many reasons for this, communication skills, work ethic, financial resources and desire to name a few. I believe one of the most important factors if not the most important is your belief in the company and its product or service. It is very difficult to sell or promote your product if you believe it is overpriced, not needed or of poor quality. The same is true for the business side of it, if you don’t believe in the company or are unwilling to do what is necessary to build your business, you will have a very difficult time convincing others to do what you are unwilling to do.

I believe if you find a solid company with a product you believe in that is priced competitively there’s no reason you can’t be successful. Network Marketing has received some bad press over the years and to many people it has a bad reputation. Don’t misunderstand me there have been some less than truthful companies over the years. But the Network Marketing business model is a legitimate one. Personally I like companies with very few restrictions and a lot of freedom. One example of this is a company that does not require you to bring new people into the business. Of course it is always an option but you are not required to do so. In other words you could choose to market the product or service and make a nice income without recruiting others. Some companies don’t allow this, they require you to promote the product and recruit others into the business in order to make an income. I like knowing that I can make an income from marketing the product without recruiting. This is very important to me because this makes the business legitimate. The product is real. People want it because it benefits them. It has value. Otherwise you are just in the business of recruiting people. You get two people to join who get two people and so and so on. That’s not a real business. The foundation must be a product or service that has value to people.I think this option also makes it more appealing to others.

So take your time and do the research. Find a good company with a great product and join those who supplement their income working part- time from home.

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.

Start a Home Travel Business and Profit From the Multi-Billion Dollar Online Travel Industry

Yes, it is true. You can make money online working from home and can actually make a lot of money if you work hard, stay focused and execute. You can build a home travel business and live the Internet lifestyle you always dreamed of by operating an online home travel business. This article will put to rest any misgivings you may have had about starting an online travel business. I will not sugar coat it. In fact much of what I have to say will probably cause an up-roar in some parts of the online travel industry. I am aiming to tell it like it is.

The TRUTH!
Who really Makes Money in Online Travel. The truth is that you can’t really make a lot of money reselling other businesses travel products. This statement is directed towards the home-based travel agent market. Yes, its easy to get started as a home-based travel agent and the online travel agencies can provide you with your own personalized white label branded website, including quality customer support but in the end you are NOT building a business, you are only paying yourself a salary.

Don’t be fooled.

I am amazed at the amount of junk that there is online out there catering to the make money online from home crowd, touting selling travel as the route to freedom and riches. This truth is probably the most important fact anyone will ever tell you if you are just thinking about entering the online travel business. Let me repeat this for you one more time.

It is difficult to become rich and build a company reselling other companies travel products. You can become rich over time by building a business that sells your own uniquely branded travel products. You can get rich and build a business if you “own the travel product.”

Owning the travel product means that you are contracting directly with travel suppliers under your company’s own contracts, you are not just reselling a travel product owned by another travel business, tour operator, travel agency or travel consolidator. Your business creates the travel product by doing deals directly with travel suppliers. Your contracts with the travel suppliers become your businesses own unique inventory for the travel products you will be selling. The new travel product becomes your own brand. Your online travel business sells the travel product directly to consumers online or wholesales it too other travel agencies, travel agents, tour operators and resellers.

The Home based Travel Agent Dilemma.
I know I am opening up a can of worms here by disclosing this information but it’s really the truth. My intent is not to knock anyone down but to provide insight into how the online travel business really works and to show you WHO is really making the money and how you can make real money by deciding from the get go to actually build a business.

Yes, if you want to make $20,000-$50,000 working from home then reselling cruises or popular travel products will be the best option for you but if you want to make real money, six or seven figures and you want to build a business that has real tangible value and can be sold later then you need to develop and sell your own travel products.

The Internet is NOT causing Travel Agencies too shut down.
I believe that the main reason that brick and mortar travel agencies are closing is not because of the Internet but because all they are really doing is reselling other companies travel products. The Internet contributed to the destruction of the traditional brick and mortar travel agency but the biggest factor in the down fall of travel agencies and travel agents in the travel industry is due to the fact that they are not selling anything unique or different from anyone else. It’s really a business model established to fail in the long run.

How do you own your own travel product? You can own your own travel product in two different ways.

1. Your business acts as a travel supplier providing tours, guiding, travel and tourism related activities or you own a lodging property.
2. Your business partners with two or more travel suppliers to resell their individual travel products under a unique package that you own.

What type of Online Travel Business do I need to start where I can own my own travel product, sell packages and build a real business?

-Online Travel Agency
-Online Tour Operator
-Online Tour Guide
-Online Travel Broker
-Receptive Tour Operator
-the Hybrid

Let’s discuss a little about each type. There are many directions you can go.

OTAs or Online Travel Agencies traditionally sell everything underneath the sun; including lodging, air, cars, vacation packages, and much more. On a hierarchy level of all online travel businesses, this would be the most expensive and most challenging type of online business to start. It’s doable don’t get me wrong it would just take much longer and be more expensive to startup.

If you second tier niche and focus on contracting your own lodging deals and contracting with activity suppliers you could easily build a smaller more focused OTA. Another option would be for you to utilize the Global Distribution System (GDS) for air, car and for lodging that you could not contract yourself. I don’t recommend this last option as you’ll be just reselling product you don’t own but as long as you can combine the non-owned GDS products with your own contracted travel products you could create a nice win-win for the bottom line.

Online Tour Operator’s sell dynamically packaged trips and pre-packaged trips to vacationers. I believe building an online tour operator business is your best option at building a successful online travel business.

Now let me first state that the name is a little miss conceiving because of the word “Tour.” There is a big difference from a tour and a trip. On a tour there usually is a tour guide or person leading the tour with the travel participants. On a trip the traveler is traveling by themselves or with other people but there is no tour guide involved. In the travel business they call this a FIT trip, Drive vacation or Fly-Drive package.

I favor selling trips, where the traveler buys a tour or trip product then attends the trip by themselves on their own time. The reason being for this is two parts.

1. You don’t have to be the tour guide and you don’t have to hire one either.
2. You have 100% more freedom by not actually participating in the tour itself. Just think of the time involved of actually going on a tour with a group or individual people.

We operated tours when my wife and I owned the Yellow Breeches House Fly Fishing Lodge and B&B. We ran fly fishing excursions with lodging and guiding. Guess who was one of the guides? Yes, you got it. Yours truly. I would not change the past for anything. I learned so much from being a fly fishing guide and owning a lodging property. I just wouldn’t want to run that type of business again. There are much better travel business models out there. That’s part of the beauty about this report is that I am able to share some true life, realities for you.

Sell Trips not Tours. This is the most important thing I can tell you regarding wanting to live the Internet life style and working from home enjoying the freedom that comes from owning your own online travel company. You won’t be living any Internet lifestyle if every week you are giving tours.

Online Tour Guide’s provide tours to individuals and or groups. If I didn’t scare you off from above that’s ok, the tour guide business is a great business and it’s easy to get started with limited investment. This is a great business to enter the travel business and starting learning about how to build a business.

If you love dealing with people and spending much of your time outside then this is probably the best travel business for you. This is serious work, day-in-and-day-out, as you are always outside in the elements. This travel business could be a stepping-stone for you to then go ahead and build an online tour operator business. I have a really good friend that owns a kayaking guide service. He runs eco-adventures that include island hoping for three to five nights. He just loves it.

Let me share a little strategy with you that will totally change the way you build or grow your existing tour guide business. Hopefully by now you’ll already see it and be way ahead of me but if not here it is.

Create packages for your tour guide business that includes lodging, meals and your guide or tour service. You probably sell trips, guiding and or tours as an hourly or day product. Take the next step and package in lodging and meals and maybe a third activity. Sell packages to your clients and you will super-charge your revenue in a very big way.

Example:
Take an existing kayak guide that sells day trips for $250 for 2 people. Now create overnight packages. Create a new product line for your business.

1. Contract with a lodging supplier to buy lodging for your kayak packages.
2. Contract with two local restaurants to buy dinners for your kayak packages.
3. Sell a 2 night, 1-day kayak excursion, with 2-dinners. Make money off the lodging, dinners and a 3rd activity and you can seriously start adding more profits to your business.

Online Travel Broker – this is a new business category I stumbled upon. I believe this is a type of business you could start with literally no money. It’s just a matter of understanding the travel business. Here is how an online travel broker operates.

Every travel supplier needs sales representatives. Your travel broker business contracts with travel suppliers to represent their business and help them sell more of their travel products. Many smaller travel businesses don’t have sales representatives. This may be your entry into the online travel business industry.

Let’s say you live in a resort town or area and there are 4 golf courses nearby or 3 ski resorts. You represent the travel supplier’s products, finding larger partners and or resellers that would resell or distribute your client’s products. This business is just a matter of finding other travel suppliers that need sales representatives and finding larger companies looking for new travel products to sell and distribute. You make money by earning a percentage of all future sales booked or earn a flat fee per contract you sign. This would be a great way to enter the travel business as a part-time business. You could start with not much investment and build out slowly.

Receptive Tour Operators receive inbound travelers from foreign countries. This is a B2B business (business-to-business). You build an Online Tour Operator business but you don’t sell your travel products directly to consumers or vacationers online, you sell your owned travel products to wholesalers or other tour operators in foreign countries that then resell them directly to travel agencies and the consumers in their country. If you live in a world- renowned destination area or region where foreigners come visit you can build a successful receptive tour operator business. The receptive tour operator business takes longer to develop as the buyers of your travel products will be other travel companies, tour operators and seasoned travel business won’t necessarily want to do business with a company that is new or just in startup mode. Adversity can be overcome though, through focus, determination and having an owned travel product that a wholesaler or foreign tour operator believes he can sell and make money.

The Hybrid – build an Online Tour Operator business that caters to individual vacation travelers. After the business starts selling trips and or tours, start building a Receptive Tour Operator business component.

I hope you have enjoyed a little insight into the world and possibilities of the online travel business and what it will take to start a home travel business.