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I'm retired from the DOE of NYC after working with them for 26 years. I'm also a martial arts teacher and a physical fitness instructor. I love to teach an help people build an online business.
I live in Manassas, Virginia. I want to live life on my terms and help people become financially independent.
Online Marketing Sensei | edcabrera
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3 Things To consider Before You Start A Home Based Business

Jul 1st 2010 at 10:31 PM

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If you're interested in starting a home based business then you'll want to read this article. In this article, I'll cover what kind of questions you should ask yourself before you start a home based business.  What kinds of companies are out there with your type of product or interests? What kind of compensation plan does this company have? After this article is finished you should be able to evaluate the benefits and drawbacks of starting a home-based business? 

 

The first thing you need to know is thyself : what are your hobbies; interests; passions; your reasons for starting an internet business. Your Why to start a business has to be bigger than the difficulties that you will encounter to maintain your business. You should not start a business just to pay the bills or have extra cash. This is usually not a big enough why to sustain you when life gets in your way. The best reason to start an online business is to have a product that you would promote even if you were not making any money on it. Do something that you enjoy, something you feel passionate about, promote something you believe in. Then, find a company or start your own company with that special product.

 

 The second thing you have to do is find a company with a great product and exceptional leadership. The company should value the interests of their representatives; supply them with training and the necessary tools to be successful.

One of the biggest reasons people do not succeed with a home-based business is due to the lack of a solid business plan, inexperience in business practices and guidance from their up-line. Most people who start a business online, have never had a business so they have no idea what to look for in a home based business. They jump into a business opportunity and learn by experience. It is time to talk about money.

 

 The third thing and a very important part of the company is the compensation plan. Most people who start a business don’t really understand the nuances of the compensation plan of an Internet business. What is a binary plan, a 3*10 matrix, or an affiliate program? The best compensation plan is one that pays you well upfront and has a substantial residual income.

 

 So, if you really want to be successful in a home based business you need to know yourself, know the company and the compensation plan. As well as be disciplined, determined and focused on the goal to succeed. Take some time to do your due diligence and when you find what you are looking for. Have conviction in your decision and don’t let anyone or anything deter you from your mission to be a successful entrepreneur.

 

3 comments
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Nov 8th 2011 at 3:45 PM by yanger4
Right on the money!
   
Aug 6th 2010 at 10:37 AM by GTBulmer
Hello, Ed: Thanks for posting this informative article for your visitors. It covers the three things to consider before starting a home based business very well. :-)
   
Jul 28th 2010 at 8:38 AM by teambuilder
Excellent article. Part of knowing yourself is having the right attitude and belief that you will achieve success. (Looks like you copied the article from your Microsoft Office/Word since the MS code is on top.)
   

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