Home Business to Make Extra Income: Tips From a Successful Entrepreneur
Have you been wanting to earn some extra income but not sure how? Or maybe you are already looking at starting up your own home business but want to make sure it's a good one and not one that will bleed your bank account?
There are many considerations you should look over when deciding on what home business to start up. Yes, these 'Turn Key' businesses are pretty easy to sign up for and have everything included pretty much, but the success of the business rides on you and some other factors
Investment: Does the business require you to invest money and how much? Do you have autoships or need to meet a monthly quota?
Company History: BIG FACTOR! How long has the company been around? Will it survive? Sure, it's great to start with a new company where competition is low and you may be one of the only representatives in your area but you also have to consider that people have not heard of this company or product and may not be as eager to try it out. Plus, newer companies may not last long. The home based business industry is quite large but during the last couple of years and poor economic times, many home businesses closed their doors (some without notice) and consultants found themselves out in the cold. Some consultants invested decades with a company only to have it close it's doors and 'poof', business is gone.
Territory: Are you confined to a territory? Where can you sell and how big is your market?
Sales Mediums: Can you sell online and at trade shows or are you restricted to direct sales and/or parties? Do you have the option of building a team (or is it a requirement) or is the business model flexible to let you succeed without doing so?
There are many things to consider.
I have been an Independent J.R Watkins consultant for almost 10 years now. My business is very successful and manage a team of over 300 consultants in Canada and the USA currently. Some lessons I learned the hard way when I first started but one thing I did do right, was join up with a company that had a good company history, solid reputation and good quality product.
I'm happy to answer any questions you have. You can also feel free to listen to my interview from a couple of weeks ago. I'm always happy to help because starting up a home business is a BIG decision and if you don't consider everything in the beginning you can set yourself up to fail before you even begin. Not every business is built the same, so it's important to find the one you are comfortable with and have trust in so you can grow it and make it yours!