Simply put, there are a large number of Home Based Business Opportunities out there. There is no doubt that many people make real money from home, many of them work part time, in their homes.
But how does the average person should know which Business Opportunities are legitimate, and which ones are trying to confuse you with “initial costs,”
Here is a list of the Big 5 from successful entrepreneurs and business owners
these are tips that they hope they know when they start their first business.
5 Key Things to Look For in a Home Business Opportunity:
1: Longevity in the Market
Select a company that has been around the block several times. Find out when it was founded, by whom, and whether they have “changed shape” more than once over the years. The longer a company is in existence, the more potential mentors will help you, and you will know that it is a legitimate opportunity with the potential to generate long-term income.
2. Look for Patents, Trademarks and Exclusive Products.
In this over-saturated market, anything that succeeds in being vulnerable is copied with a cheaper copy, making the original company out of business. One of my mentors who has made millions of dollars investing in products sold at mall kiosks will never invest in products that don’t have patents. He told me to ask that question First when investigating entrepreneurial investment (10 points for big words).
3. How long do “New Partners” or “Distributors” remain in the Company?
Good statistics to know are the average career ranges of beginners with the company you are considering. If these statistics are too hard to find, (or the person who introduced you doesn’t want to try to find out for you), this might not be an impressive number.
Great companies will have veterans who have built a solid business that gives them consistent income, and they will be willing to share the secrets of how they do it.
4. Is this something that you can stare at (with a smile) for years to come?
You will put your heart, soul, (and some money) into your business. Make sure it is something that can make you feel comfortable. If you like to do surveys all day and get paid to click on websites and ads throughout the week, there are opportunities out there for you – visit the city.
Think about your first meeting with the Opportunity that you are considering. The way it’s presented to you gives you a good feeling for what you are going to spend time staring at – and making others stare. Ask yourself a few questions:
- Can I believe in this product / service enough to convince others that it is extraordinary?
- Am I doing this just because the money looks good, or because the opportunities look good?
- Can I continue to do this every day, every week, for years, and still feel good about it?
That’s not a real word (is it underlined in red on your screen too?) But it’s the right word. My mentor always stresses to me that having a system that can be duplicated is the consistency needed for long-term success. If the system that your potential business uses to market, sell or promote itself is something anyone can do with time, persistence, a little money, and passion, then that can be duplicated.