Have you been looking into starting an online work at home business?
Are you confused about all the options that are currently available?
Before you get super excited, and sign on with a budding start-up, or a company that sounds too good to be true, you’ll need to do your due diligence.
What Are You Looking For In a Work At Home Business?
The first thing you will need to do is be clear about what you are looking for in a company, and what you are willing to do, to earn an income.
Most online work at home businesses will offer ongoing training and support. There will probably be a team you sign on with that will offer more exclusive training in a group environment so you are not completely on your own.
If you are like most people looking for a way to earn extra income from home, recruiting other people is not what you are interested in.
Though most companies offer the opportunity to do both – market and sell their product/service, and recruit other people to work from home…some companies are more focused on the recruiting aspect, which is not a viable (or ethical) business model.
If you are encouraged to recruit other people over marketing any products and services in order for you to earn an income…steer clear.
Whatever company you look into, recruiting should be strictly optional, and not necessary to make money.
Selecting A Viable and Sustainable Industry
The reason you want to be selective when it comes to choosing a career in a particular industry, is so that you will be able to create a thriving business for years to come.
It’s impossible to do that inside of a company or industry that is only trendy at the moment. Like all fads, they pass on…and where would that leave you?
Consider the product or service that’s offered. Is there a demand in the marketplace and will it be there for years to come? Is it something people need, use or consume on a regular basis…like internet service, electricity or healthcare?
Think about it…if you had to choose, would you pay your cell phone bill for the month, or reorder a protein shake? Though the protein shake may taste really good, and is giving you the results you are seeking, if it came down to it…the majority of people would keep their cell phone service.
Get what I’m saying?
Is there an absolute need, and will it be in demand for years to come?
What Are the Best Types of Companies?
Logically, companies that offer membership (or recurring) subscription based services are a more profitable option. Customers tend to stick with memberships over re-orders.
One reason why a service based online work at home business is so attractive, is because there is no inventory to invest in or product to keep. For individuals who’d rather not push products, or home demonstrations, a company offering a service is a good option.
More and more companies now realize the value of using the internet. With a little research, you can however, find great product based companies that do not require the purchase of inventory.
Getting Paid and Making Money When You Work From Home
The main thing most people want to know when looking at a home based business is, how much will I get paid!
Each company has a compensation plan that will detail how you get paid. Because you will be an independent contractor (business owner), it’s important to know you are paid when you make a sale.
Compensation plans will vary from company to company so take your time when going over this part of the business you are looking into. Don’t be afraid to ask questions if you are uncertain about what things mean.
Normally, you will earn a percentage of each referral sale you generate for the company. This can range anywhere between 10-50+ percent. So, knowing how much you earn from each sale will give you a base for the amount of units you’d have to sell to earn your desired income each week or month.
Also, there is the residual income as well. Which in my opinion, is the most important because this is the long term income you will earn months and years to come, from each one time sale you made.
That’s why service based businesses are the best option because memberships usually stay on the books much longer than a one time sale of a product.
Think of your cable or internet bill…how long have you had it?
Most people remain customers of those services for years and years.
That is an example of earned income that continues from a one time sale. When you work with a service based company, you will continue to earn monthly residual pay from those memberships.
They add up over time allowing you to build wealth, as long as you remain committed to your business.
Your Next Steps
Once you find a company that interests you, be sure you speak with a Rep who is not only willing to answer your initial questions, but will help you get set up with training, and be available to offer ongoing guidance whether you need it or not.
Finally, be clear about any terms, conditions and agreements between you and the company. Again, ask questions if you are unsure. The key is to have a mutually beneficial partnership.
You will be an independent contractor, however, this does not mean you should have to learn the ropes on your own. Choosing a team within the company, is just as important to picking the right company.
Know ahead of time, that the team you will be a part of is committed to helping you achieve your goals, and offers ongoing access to training and support.
Hopefully this post gave you more insight into making the best decision for you, when it comes to starting an online work at home business.
Take a leap of faith…and commit to making your goals and dreams a reality with the time and financial freedom you can create, when you start an online work at home career!
Achieve Financial Freedom At Home…
Are you looking to start a work at home business? Does being able to work 100% from home, without inventory, home parties or cold-calling interest you?
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