Finding a Legitimate Home Business
Statistically speaking, its not a good idea to start a business. Depending on which study you read, approximately 65% of new businesses fail within the first year, and another 6% dont make it past their third year. So, do we entrepreneurs have much hope?
If you have ever thought about going into business for yourself, you know of the reasons. *Set your own hours (more time for fun and family) *No cap on earnings *Work to make yourself rich rather than someone else *Do something you love *Control your own time and finances
And, those dreams of a better life are enough to make millions of people a year try their hand at running their own business. I myself have tried several. I had marginal success with most and found that I was working more hours than it was worth. Perhaps if I had tried a little longer, it would have panned out, but the risk of putting more money and time into something that may not work made me bow out within the first two years.
So, are there any viable options for one with a dream? If you have an original idea, a significant amount of money available, and a marketing strategy, you may win on your own. If not, finding a home business with an already established company might be a good option. Let's look at some home business statistics.
*The number of home businesses lasting over a three year period is about 70% -much better than other business ventures. * The average income earned by home business owners is $63,000 a year. Not bad considering the average household income in America is $47,0000. * 20% of home businesses, according to Money magazine, had a yearly gross income of $100,000-$500,000 * 89% of people with household incomes over $80,000 have a home office.
If you are venturing into a home based business with a company that rewards you for bringing other people on board you will also be glad to know that it is estimated that more than 9 million people will earn some from of income from home. Someone starts a home business every 11 seconds. Also, with the internets ability to allow you to market to many countries, the economy of your own country is less of a deciding factor in success. And what about the recession? It has actually helped many home business owners because so many people are feeling no job security or are needing an extra income source.
As for the environment, it is estimated that this year workers staying off the roads will reduce CO2 emissions by at least 18 million kg.
There are many opportunities out there, and most are legitimate, but if you've spent any time searching online, the number of scams is daunting. Here are a few guidelines to get you pointed in the right direction:
* You must find a company whose products you believe in. * Although Im not against MLMs, direct selling of products with a decent commission appeals to me. * Find out if there are any third party endorsements of the company. Dont just take someones work for it. * Consider the start up costs as compared to how long it will take you to earn a significant income. Some companies offer very low start up costs but you have to work for months or even years before it starts to really generate income. * Investigate hidden costs (advertising, monthly dues, having to buy a certain amount of product yourself) * How much time are you REALLY going to have to put in to make your income goal? Ask some new people, not the seasoned 6 figure earners who are hiring their dirty work out. * Be leery of companies that want you to talk to your family and friends about your new business to generate potential customers. This almost never works. People today are bombarded with new opportunities, and its hard for most people to talk to others they know without coming across as a user.
All of this being said, there are incredible opportunities out there, and if it is what you want, you shouldn't be afraid to look. It is the way of the future. Just do your due diligence before you jump in head first! From one dreamer to another, I really do wish you the best!
If you have ever thought about going into business for yourself, you know of the reasons. *Set your own hours (more time for fun and family) *No cap on earnings *Work to make yourself rich rather than someone else *Do something you love *Control your own time and finances
And, those dreams of a better life are enough to make millions of people a year try their hand at running their own business. I myself have tried several. I had marginal success with most and found that I was working more hours than it was worth. Perhaps if I had tried a little longer, it would have panned out, but the risk of putting more money and time into something that may not work made me bow out within the first two years.
So, are there any viable options for one with a dream? If you have an original idea, a significant amount of money available, and a marketing strategy, you may win on your own. If not, finding a home business with an already established company might be a good option. Let's look at some home business statistics.
*The number of home businesses lasting over a three year period is about 70% -much better than other business ventures. * The average income earned by home business owners is $63,000 a year. Not bad considering the average household income in America is $47,0000. * 20% of home businesses, according to Money magazine, had a yearly gross income of $100,000-$500,000 * 89% of people with household incomes over $80,000 have a home office.
If you are venturing into a home based business with a company that rewards you for bringing other people on board you will also be glad to know that it is estimated that more than 9 million people will earn some from of income from home. Someone starts a home business every 11 seconds. Also, with the internets ability to allow you to market to many countries, the economy of your own country is less of a deciding factor in success. And what about the recession? It has actually helped many home business owners because so many people are feeling no job security or are needing an extra income source.
As for the environment, it is estimated that this year workers staying off the roads will reduce CO2 emissions by at least 18 million kg.
There are many opportunities out there, and most are legitimate, but if you've spent any time searching online, the number of scams is daunting. Here are a few guidelines to get you pointed in the right direction:
* You must find a company whose products you believe in. * Although Im not against MLMs, direct selling of products with a decent commission appeals to me. * Find out if there are any third party endorsements of the company. Dont just take someones work for it. * Consider the start up costs as compared to how long it will take you to earn a significant income. Some companies offer very low start up costs but you have to work for months or even years before it starts to really generate income. * Investigate hidden costs (advertising, monthly dues, having to buy a certain amount of product yourself) * How much time are you REALLY going to have to put in to make your income goal? Ask some new people, not the seasoned 6 figure earners who are hiring their dirty work out. * Be leery of companies that want you to talk to your family and friends about your new business to generate potential customers. This almost never works. People today are bombarded with new opportunities, and its hard for most people to talk to others they know without coming across as a user.
All of this being said, there are incredible opportunities out there, and if it is what you want, you shouldn't be afraid to look. It is the way of the future. Just do your due diligence before you jump in head first! From one dreamer to another, I really do wish you the best!
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