Choosing a home business online can be a bit of a jungle. There are many of them around and also you need to watch out for scammers who just want to make some fast money out of you. You will need to be careful!
You cant dispute that there is money to be made on the internet, there are countless individuals across the world making large amounts that more than equal full time wages. You need to put in some hard work though and be prepared to educate yourself, to make it work.
The two main business models I deal with are Network Marketing (MLM) and Top-Tier direct sales. There are also affiliate marketing models, where you just sell someone else’s product and earn a commission one time.
With an MLM business you will be developing a team of distributors under you. You will earn a commission for the sales that they make. There’s no doubt this is an extremely good business model, get enough people under you and your residual cheques will be coming in for work that you did just once. I’d highly recommend you look into this one.
Direct sales/top tier pays you when you make a product sale, usually it’s a large commission, there is however little residual income, or you might just be paid one level deep. High buy in products are called ‘High Ticket’, they are expensive to join, thus the high commissions, they can be extremely profitable but you will probably have to prospect more folks in order to make a sale. Of course higher profits has its advantages, you have a much better margin of profit and will probably be able to invest more into promotional activity.
The business I am involved with pays $2,000 for each sale I make, so if I pay $1,000 in advertising to make 5 sales, obviously the profit margin is excellent as opposed to selling a product that will pay me $500 profit.
When choosing any opportunity, you want to check out their history and see if you can dig up any dirt before joining. 99% of the time you will need to find a sponsor, someone you will join under; you need to pick wisely. Its a fact of the industry that there are people around who don’t deliver on their promises of support and coaching. Once you have joined some will magically disappear or become difficult to contact!
Make sure you research any proposed mentor and test them out, email them, phone them, satisfy yourself they are genuine and will give you the help that you will need.
Look into the time the company has been around. It can be advantageous to get in early with a newly launched company, but you run the risk of it not working out and being a massive flop. It’s often easier to recruit into a new company than it is into one thats been around for donkeys years. Follow your instinct and always consider if the products would sell well, even if there was no compensation plan attached to them.
Whatever the business that you look at and sign up with, there are several concepts that you must be aware of, miss one out and is could be devastating to you future prosperity.