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What Should I Consider Starting A Home Based Business? What Should My Due Diligence Be?

939 words - 4 pages

We all have heard, "if it is too good to be true, it probably is", but the thing is, maybe it sounds good to you and it is not as good as it sounds, but it may be worth your time to get involved with the company.

How much are the start up costs?

Let me start out and say that I am not bashing any one company. As you look at what each company requires for you to sign up, you will find most have minimal start up costs. However, if you came to me and said you wanted to own a McDonalds franchise, and I told you it was $25, you would get excited. However, in order for you to start, you need the building, start up products, employees, insurance and money for taxes, even before you can open your doors. But then, you have to keep in mind, what will your cost to run your business be monthly? Most home business owners never consider it. You need to ask someone who is in the business now, how much they spend to keep their business running every month, what is required and what is optional. Believe me, even though they say optional, they are probably required in some degree to build your business.

What training and support is available?

Do they have a training plan? What training is available to you from the company? Is it on product or training to build a business? I will tell you that it is probably just motivational and on the products. Most companies have cheer sessions. You need to know, are there people that will train you that are not in the company? This is why the majority of the companies are weak. They tell you to make the stupid lists. This does not work anymore. Can you invest in building yourself? There is a cost. I would work with someone who has went down the trail of tears and succeeded in building a business, because they know what you are dealing with or will deal with.

What are the rules for advertising and promotions?

Do not get hung up on this when they tell you that you cannot use company product or company name in your advertising. When you bought your home or car, did you buy it because of the manufacturer or did you buy it because of the person you worked with made you comfortable? I would bet you bought it based upon the person over anything else. This is why I teach you to position and advertise you. Why should I buy product from you? This is what we need people to see in us as we build businesses. You must add value to your customers!

What is the realistic income potential from the opportunity?

Here is where as a marketer, keep your feet...

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