Did you know when you own a Home Based Business
You still have to work!?
Okay, I just wanted to make sure.
A lot of people think they can sign up for a Home Based Business opportunity and wll all of a sudden see large cash flow and never have to work again. Which is probably why most people that sign up for a business opportunity (biz opp) quit within their first year of signing up!
When people just impulsively start a home based business thinking this way it's usually because they've seen a lot of ads and testimonials about this type of business.
These ads tell them how they can make $3,000/week in two weeks and will be making $10,000/month in as little as six months. NO cold calling, NO advertising, NO downlines!
Who wouldn't jump at that chance!? Especially if they aren't really educated on running an Internet business. Ad's like these make it sound like you can get a lot of money with NO work!
Some people won't believe these ad's, but will see a website with a testimonial from John Doe who joined XYZ company and 2 months later he was making $5,000/month and jump right in. The website may be professional and appealing. They may even have a video of John Doe talking about his business. Telling how he was homeless and had lost his home until he came across XYZ company, now all of his dreams are coming true.
Don't get me wrong I'm not trying to imply that those are impossible results. They are very possible, but they aren't typical and everybody won't have those same results.
Everyone has dreams, and a lot of companies are trying to lure you in by bringing your dreams to the table. If they don't you probably wouldn't pay attention to them. A legitimate company will have the same ads and testimonials, but they will make sure to inform you the results aren't typical results or guaranteed. They will usually tell you that you may not see results like these for at least 2 years.
BEWARE of companies that promise you thousands of dollars a month doing absolutely nothing. These companies are almost always SCAMS
Now we can move on, because all of the scam believers have probably clicked on the X to get as far away from this page as they can...
Don't worry they'll be back!
Building a Home Based Business is just like Building a Brick and Mortar Business!
It takes hard work and dedication to build a business. When you have a brick and mortar business (offline business) you have to invest thousands of dollars to get it up and running. After that you have to get customers and make sales to see a profit... **Don't forget you have to pay off bills before counting your income as profit.**
A home based business is exactly the same, we just have a smaller investment and smaller bills because we are a virtual existence. Which makes it real easy for someone who has always wanted to own their own business to do so without breaking the bank.
Yes, I said an investment!
Most home based business opportunities have investments ranging from $10-$4,000 and sometimes higher depending on what the product is. A lot of people turn and run away when they hear investment but they don't realize that's still only a small amount compared to a typical brick and mortar business. For the most part you get it right back in tax savings, so what do you really have to lose?
Some companies also have a monthly or annual fee which shouldn't be that big of a deal after you look at all the company is really doing for you. They store the produts, they handle the customers, they handle complaints, and take care of the money and shipping! In reality you get paid the big bucks just to talk about it, while they do all the work.
Having a home based business allows you to work toward financial freedom part-time, while working a full-time job. As a matter of fact they encourage it. It makes it a lot easier to make those dreams you store in the back of your head come true without the risk.
Most companies out there are MLM strutured businesses, which stands for Multi-Level Marketing.
Allowing you to get paid by the selling of a product or service and by introdusing the business opportunity to others allowing them to own their own business, which also give you a commission percentage. These people will be your downline, but I prefer to call them your team.
Paid on Commission, but it's residual
When you have a home based business you get a commission of every piece of business you or your team bring to the company. The best part about that is that it's RESIDUAL INCOME. That means you will continue to get paid over and over again for work you do once!
Now you can see why it's faster and easier to reach financial freedom this way. As long as you have customers and business partners you will continue to get paid for them month after month, year after year.
Pro's and Con's of a Home Based Business
- Free to work whenever you want
- Great tax advantages
- Sense of Ownership
- Residual income (if you take a break you may still get paid
- High income potential
- Willable and sellable (great if you have kids)
- Promotions come faster than corporate world
- Make money selling products and finding potential business partners
- No boss!
- Can sometimes take up to 6 months to see steady cash-flow
- Investment and Fees
- Difficult to find customers
- Only some companies offer Health benefits (after reaching top levels)
- Takes money to makey money
- Paid on commission
- Must with-hold your own taxes
Did you find this page helpful?
If so, feel free to add this page to your favorites and to popular social bookmarking websites by using this button.