Choosing The Best Home Based Business Opportunity

Highly Selective Prosperity

2006-06-30T07:13:00.000-07:00

My mentor Virend Singh introduces an interesting new concept in his new e-book " Become A Top 1% Income Earner And Retire Early, Retire Rich - The concept of 'Highly Selective Prosperity'. In the book, Virend says:

"To achieve financial freedom, wellness and a lifestyle of choice over the next few years, you really need to understand the concept of ‘highly selective prosperity’. Also understand that life presents windows of opportunity, which will be open for a limited time and then slam shut forever. Note that Pilzer describes the coming two decades as being periods of ‘highly selective prosperity’ where only certain people, industries and economies will prosper.

As General Douglas MacArthur once said, “There is no security in life, only opportunity.” And the interesting thing is: If you seek for opportunity, you'll end up with all the security you need. However, if you seek for security, you'll end up with neither opportunity nor security."

Download the complete e-book here for free. Use Username: Prosperity, Password: 211496448 to read the book.

An Interesting Article On Starting A Home Based Business

2006-06-13T04:02:00.000-07:00

This is anteresting article, with some good points. I particularly like Dale's summary:
"Don't let procrastination rob you of a better life for you and your family. If you never even try to start a home business, you'll never know what could have been.
So, in the words of Nike, just do it! "

4 Tips For Starting A Home Business by Dale King

1. Research, Research, Research: So many people rush into starting a home business, because they aren't properly prepared, which leads to certain failure.
Starting a new home business is exciting, but you'd be prudent to slow things down, take your time and thoroughly research your subject of interest. Why? Well, first of all, you'll be better prepared when you do actually start your home business, which will only increase your chances of success.

Second, the more knowledgeable you are about your subject of interest, the better you'll be able to serve your customers and the more money you'll make. The two go hand in hand. Slow down, take your time and do the research.

2. Make It A Labor Of Love: While there are certainly no guarantees in life, if you start a home business based on your passion as opposed to monetary potential, the odds are you'll be much more successful. Here's why: If you start a home business based on something you truly love doing, you'll have much more incentive and determination to "hang in there" when things get rough, which they invariably will.

Always remember this old saying, "Do what you love and the money will follow!" Truer words have never been spoken.

3. Be legal: Depending on where you live, your home business may require a license or a permit. To be sure, check with your local townhall or courthouse to find out what the requirements are for where you live. In addition, check with your states Department of Revenue to see if you need to collect sales tax. The last thing you want to do is get into trouble with the government.

4. Get Started: The three aforementioned tips won't matter much if you never even get started with your home business. So many people say they want to start a home business, think about starting a home business, but that's as far as they ever get.

Don't let procrastination rob you of a better life for you and your family. If you never even try to start a home business, you'll never know what could have been.

So, in the words of Nike, just do it!

About the Author
Dale King is an ex-advertising salesman, and the owner of the new Internet marketing website: http://guruknowledge.org

The Entrepreneurial Mind: Home-Based Business Bonanza

2006-06-06T01:34:00.000-07:00

A recent article in the Belmont University Blog by the director of the Universities Centre for Entrepreneurship about the impact that Home Based Business Owners are having on the US economy:

The Entrepreneurial Mind: Home-Based Business Bonanza: "Home-Based Business Bonanza
One factor that many attribute as an engine of our entrepreneurial economy in the US is our culture, which has over time supported individualism, creativity, and self-determination. A study released on Wednesday by the SBA Office of Advocacy shows evidence of our grass-root entrepreneurial spirit. America's 1.6 million homebased sole proprietors generate $533 billion in annual revenue. The report finds that the average homebased sole proprietor earned $22,569 in net income on about $62,523 in revenues. "

Different kinds of Home Based Businesses Opportunities

2006-06-04T23:20:00.000-07:00

There are Five kinds of Home Based Business Opportunities:

1. The Old Guys - These are the companies that have been around for a long time. If you're the kind of person that needs stability over opportunity, this is the place for you. These companies continue to enjoy steady growth and have very good leaders. You will learn the trade extremely well, but may take a few years to develop a true residual income.

2. The Scams - Scams have been with us for thousands of years and will be for thousands more. With these companies, the products don't really matter. They are no more than an excuse to launder money amongst friends. These opportunities typically lead with an outlandish claim about easy money. You will learn nothing and make nothing through joining these opportunities.

3. The Little Guys - These are the companies that are either "low growth slow growth" or they're the kind that is built around a single product or small product range - usually organic. These companies are usually run by good dedicated people but are often terribly undercapitalized. Sadly they often disappear within a short time beacuse they lack the capital to compete in the marketplace. they can be a good little additional stream of income.

4. The Start Ups - Companies started by marketing gurus formally with the older companies in the Industry. They are designed to take advantage of market trends and generate rapid short-term growth. These companies may or may not last and leaders in these companies usually move opportunities every few years, trying to continue to enjoy the fast income. You can make make money with this type of business, but you need a large network of people who are loyal to you that you can move from opportunity to opportunity.

5. The Emerging Giants - Companies that have been around long enough to prove themselves but are still rapidly growing and continually entering new markets. These companies (and there are very few of them) have unique products that command customer loyalty. You can develop a large residual income with these companies in a relatively short space of time and it is an income source that will last for years to come.

Probably the most unique home based business opportunity you will find is in intellectual distribution. Check out those two sites, they are solid opportunities.

Operating a Home Based Business from a remote location

2006-05-31T07:49:00.000-07:00

Not so long ago, if you lived in a remote part of Australia, you couldn't possibly work a home based business opportunity as you would have to travel great distances to find enough people to build a business. But as technology gets better and better, the possibilities are becoming endless.

A good example of online conferencing for home based business can be found at the Unique Home Based Business Opportunity site, where members host business presentations, training and mentoring with their conferencing software.

However, it is not automated. The Internet won't take over completely. It is just a tool we can utilise. When speaking about the new business of Intellectual Distribution, Paul Zane Pilzer stated recently

"I am often asked, “Doesn’t the Internet fulfill that function?”Surprisingly, the answer is “No, not at all!” The Internet is a great placeto go to get educated about products and services you already know youwant to learn about—but it cannot fulfill the education function of thepeddler or general store proprietor any more than the infomercials of the80s and 90s could.

The Internet, television and magazines are all passive media. The only placewhere we actually learn something new, where we engage with new informationto the extent that we may actually change our minds and try somethingnew, is in a live, one-to-one conversation."

That my friend is where you and I come in.

Look For Structured Training & Support

2006-05-10T22:02:00.000-07:00

When you start working from home in a home based business, you are beginning a whole new career and so you must become a student of the industry and continually learn.

This industry prides itself on the quality of training and support provided - you hear so much about it and even business leaders like Robert Kiyosaki sing it praises. When this training is properly implemented, it is certainly very good. But just how often does this happen?

Imagine if you went to University to study something like engineering and on your first day, they dumped text books for the entire course on your lap and said: "Just look through these and work it out as you go." I'm sure you would feel completely overwhelmed - and as impractical as it sounds, that's how many leaders in the home based business industry implement their training.

Training should be given in a structured manner, like a University course, taking you through the process one step at a time, so that it is taught properly without shortcuts.
This process should be repeated continually, because as you get practical experience in the industry, you gain a deeper understanding of what is being taught and benefit more from it. Then of course, as you grow in the industry, you become a trainer and begin to pass on that knowledge to others.

If you learn it in a structured manner, you will pass it on in a structured manner and build a strong organisation.

Training should also involve some form of human interaction. In these modern times with rapidly developing technology it's easy to lose sight of that. many people make the mistake of believing that the Internet can take the place of a teacher or mentor and try to automate everything. While the Internet is a powerful tool for us to uae, it does not take the place of a teacher or mentor. People relate to other people.

So when you look at different home based businesses, look closely at their training and support. Look for an organisation which puts its focus on growing individuals to leaders and giving each person an even chance of success, regardless of their background.

This will make life easier for you, because not only does it help you succeed, but also the people that you bring in to the industry. It is a process of duplication and if you can duplicate a high level of training and support with the right opportunity, you are assured a long term residual income.

Lessons From The Omegatrend Crisis

2006-05-07T07:22:00.000-07:00

As West Australian based home business company Omegatrend appoints voluntary administrators, we have to ask ourselves what went wrong.

This is a company with excellent leadership, an ambitious expansion program and very motivated associates. The media cites the strong Australian economy as the reason for the companys' demise. In fact, the appointed administrator, Cliff Rocke is quoted as saying: "the business was struggling with sales slumping to $12-$15 million per annum because in boom times members were less inclined to supplement their incomes by selling Omegatrend products."

Fair enough - but shouldn't associates continue using the products anyway? - I mean they're obviously making money in their jobs. The curious thing is that another home based business company, USANA Health Sciences, had 12 consecutive quarters of record sales and almost trebled their turnover in Australia during that period.

USANA did not do this as a start-up opportunity, the company has been in that market since 1997. So why did one compay grow rapidly in an unfavourable market, while the other declined?

I can only imagine that the Omegatrend products are not terribly different to products you can buy in a supermarket and when the products do not make a difference to your life, you buy something that's on special in the supermarket instead, while you're getting your groceries.

I believe the lesson from the Omegatrend story is that you need more than just motivated people and a good system of compensation to hold a company together through tough times. You need unique products - Products that people will continue to use because it makes a difference to their lives.

The Future Of Working From Home

2006-05-03T01:45:00.000-07:00

Some people who express interest in our opportunity are looking more for an employee type situation than a business to work from home. They want someone to hire them to work in their chosen field on their computer at home or they want a career change, but to remain an employee in a new field working from home.

The good news is that yes, you can work from home on your computer, but the bad news is that you have to compete with highly qualified and skilled people in countries like India who are happy with $2 to $4 an hour.

If you'd like to check out what your skills are really worth in the Global market, go to www.guru.com and post a project in your line of work, something you like to do - Then wait for the quotes to come in!

We all know that IT jobs are moving to India, in fact there are predictions that 8,000 Australian IT Jobs will be "offshored" in the next five years. In the US it will be around 500,000 IT jobs. But if you think your particular occupation is safe, consider these statistics from business futurist Craig Rispin.

The number of US tax returns prepared in India in 2003 was 25,000.
In 2005 it jumped to 400,000

Perhaps it is time to look at a good legitimate Home Based Business Opportunity.

Don't Settle For Second Best

2006-04-30T02:14:00.000-07:00

Let's talk about products.

Every home based business opportunity pays commissions on the sales of a product of some kind. If you are involved in the booming wellness industry, you have a program of continuity - That is people continually use the products, replenishing them every month.

This of course means a residual income for those who have put in the effort to build a team of loyal customers & associates.

Because of this reliance on continuity, it is essential that the products make a difference to the lives of those who use them. If they don't, eventually people are going to stop using them and your income will die away. It makes sense that you would want to be associated with the best products you could find.

So how can you tell which product range is best?

Every company it seems, claims that their products are unique. Every company has a scientist of two and a doctor or two that will support their claim. So who do you believe?

The answer is none of them.

You need to look for independent studies that compare different products and rank them according to scientifically developed criteria.

Perhaps the most comprehensive study available is the Comparative Guide To Nutritional Supplements'. It's written by research scientist and author Lyle MacWilliam BSc, MSc, FP. MacWilliam measures different products on the market against a set of criteria drawn up from the recommendations of the top 7 nutritional experts in North America - Including Dr. Earl Mindell, Ph.D. (Author 'Earl Mindell's Vitamin Bible for the 21st Century', 1999) and Dr. Michael Murray, N.D. (author 'Encyclopedia of Nutritional Supplements' 1996).

Some other questions you might ask are: "Are the products made to pharmaceutical standards?", "Are the products actually manufactured by the company or outsourced?" and if they are outsourced, "who manufactures them?"

As a final check, using a search engine like Google, you can quickly find if there are any claims against the products. Look for court actions rather than the gripes of dissatisfied individuals.

As your future in a home based business opportunity depends on the continual sale of products, it makes sense to have the best products on the market.

What kind of company do you want to keep?

2006-04-28T08:08:00.000-07:00

When you build a home based business, you are effectively partnering with a company for decades or life.

If you are genuinely interested in building a business, so you can enjoy residual income for years to come - you will want to look closely at the company you partner with.

Here are a few questions to ask:

How long has the company been in business? Many companies providing work-from-home opportunities fail within the first 5 years - so unless you know a lot about the industry or have inside information, it's better to be safe and choose a company with a track record.

Exercise caution when approached by 'Industry Leaders' promoting a brand new opportunity. You have to ask yourself why they left their team and their last company - They often have an 'exit strategy' - they profit from the initial growth and then move on to something else.

Is it a public or private company?A public company is listed on the stock market and has a much greater level of transpanancy than a private company - You will have more reliable information on its performance.

Was the company founded by a visionary or a marketer? Companies founded by visionaries tend to be the market leaders. Look at the company founded by that great visionary of early last century, Henry Ford. What happened to all those other manufacturers of that era - The ones founded by marketing people?

As a final check, go to a search engine like Google and research claims against the company. See how they have conducted themselves over the past years.

Be very fussy about the company you keep!

Fair Rewards, Flexibility and Team Building!

2006-04-28T08:05:00.000-07:00

There are so many different compensation plans around for home based business opportunities - How do you pick the best one?

Last week we spoke about the balance a company must have, pricing their products fairly, making a profit, putting money into R & D and compensating their distributors fairly.

This week, we'll talk about how the money is shared among the distributors - The Compensation Plan.

There are many different plans in existence with names like "the stair step breakaway", "the hybrid", "the matrix" and "the binary" - and understanding them can become quite confusing when you're starting out - So what should you look for in a compensation plan?

The main thing is that you want to be rewarded fairly for your effort. You want to be able to see rewards when you get results, even early in the business. You also want to be able to develop a comfortable residual income over time.

A compensation plan must have flexibility. A good plan will allow you to make money either by sponsoring other Associates or by retailing product or both. It should give you the option to buy products in small bulk lots for a cheaper price (and lower point value), allowing a good profit margin for retail.

Finally, a good compensation plan should encourage team-building. When you start a new associate in your business, you should be able to put them with one of your team members, so that your team member also benefits - without losing money yourself.

A good compensation plan will allow you to build a team, rather than placing people in competition with one another.

When looking at a compensation plan, consider fair rewards, flexibility and team building.

Nothing Down, Nothing Gained!

2006-04-28T08:03:00.000-07:00

How much should you pay to start a home based business opportunity?

Before you give in to the impulse to dive in to an opportunity promising 'no start up costs', it's worth looking at how you actually make money in this kind of business.

Simply, You are paid a commission on goods consumed or sold in the organisation you build and that commission cannot be too high or low - it must be fair.

You see, the companies which run genuine work-from-home opportunities have the balance right. Their products are fairly priced, they make enough profit to keep their shareholders happy and to stay viable, they do not compromise on raw ingredients or Research & development and last but not least, they compensate their Distributors and Associates fairly.

Now, remembering that the people in your organisation will start exactly as you are starting, how much commission would you like to make when you start a new person?

Coming back to our 'no start up costs opportunity', you will make a percentage of $0 every time you start somebody. Suddenly that opportunity doesn't look so good.

Finally, there is commitment. As you have to help train and mentor your new people, wouldn't you rather work with people who have made a commitment and invested some money?

Look for a home based business opportunity with start up costs that are not too low!

Go Where The Money Is Being Spent!

2006-04-28T07:55:00.000-07:00

Home based business opportunities offer a revolutionary method of distribution - But what are we going to distribute?

Now if we were to distribute something like the finest horse-drawn carriages, the whole exercise would be a complete waste of time.

To make money, we need to know where money is being spent - or more importantly, where the biggest increase in spending will be.

You could, for instance try distributing telephone plans, but then, do you know anyone who doesn't yet have a phone?

What about web sites and domain names - now not everybody has a web site! Again, this is not a good market because the cost of providing web sites continues to decrease so dramatically, that even though that market is expanding, less money is being spent.

So where is the biggest increase in spending?

According to renown US economist and author Paul Zane Pilzer, the major growth is currently taking place in the Wellness Industry. He is predicting that it will grow to be a trillion dollar industry by 2010!

Wellness is a huge, expanding market where companies can develop unique products and compete on quality and not just price.

It is predicted that the work-from-home industry will create ten million new millionaires in the next decade and the vast majority of them will be involved in the wellness industry.

To become one of those millionaires, to become wealthy working a home based business opportunity, you have to go with the trends, not against them - and the best chance you have is in the wellness industry!

Believe In Miracles, But Not Fairy Tales!

2006-04-28T04:49:00.000-07:00

This is an industry that can change and grow people in a miraculous way and in turn, those people transform their lives - but it only happens with hard work and commitment.

Unfortunately, Your computer will not transform into a goose that lays golden eggs and rockets you to wealth and success!

When you look for a home based business opportunity, you will be flooded with information, too much it seems to come from one industry - and that's because you're not looking at one industry, your looking at two – home based business industry and the world wide fairy tale industry!

You see, deep down, we all want to believe that there's a magic way to riches, a secret that we can discover - and when we discover it, it will empower us to rake in money with little or no effort!Naturally, an industry has appeared to cater to that desire, offering quick teasers of hope, that melt in our mouths like cotton candy and leave us empty - searching for more.

This industry is driven by some very savvy marketers, who offer e-book after e-book, course after course, boasting loudly of their 6 figure incomes and promising us that - Yes! we can do the same.

And then there are the real home based business opportunities. They don't sound so good at first. They require us to make a commitment. Both a financial and time commitment. They offer a two to four year plan, with the promise of success for those of us who are willing to put in the effort.

But this is where the secret we've been looking for lies buried - in a pile of hard work and commitment - And when we uncover it, miracles happen!

Learn to sort a home based business opportunity from fairy tales!