Choosing a Home Business

Many people today are looking for a home business - a way to generate extra income because of the declining economy. It's definitely a smart choice to develop a second steam of income, just in case anything happens to your primary source. The problem is, there are SO MANY options out there - how do you find the right business?

I can speak from experience here since I have had a home business for the past 6 years. Although I never thought of myself as a business person, I kind of "fell into" a business opportunity. You see, I went to a party and found myself loving the products. I wanted to buy it all, but couldn't afford to. So, like many others, I became a consultant so that I could get the discount. Later I decided to actually build it as a business so that I could earn enough money to stay home, at least part time. I worked hard and advanced my business, but soon after that I lost my status and was not earning what I had hoped. I began to doubt whether I could succeed and definitely knew that staying home was not an option.

So when I was presented with another business opportunity, I was determined to be more thoughtful and deliberate about whether to even get involved. I was skeptical and thought it was probably a scam - if it sounds too good to be true, it probably is, right? Well, I listened to the full information, researched it a bit, and determined that I wanted to at least give it a try. 2 years later, I am so glad that I did. I am now earning a consistent, reliable income which allows me to work part time instead of full-time. I have an excellent support team and am part of an amazing, debt-free company that continues to grow in the midst of this economy. So what are some of the keys to choosing (or finding) the right business for you?

• Get the facts. It's important to take a listen to the full information of whatever company you are considering teaming up with. And it shouldn't be just a 5 minute description - you will need to hear about the company's products, track record of success, business plan, compensation, etc. And be sure to ask questions! Ask to see the company's growth chart and average income earnings, if those aren't provided in the overview.
• Determine what kind of business you want. Do you want to do a party plan business where you need to go to other's houses and do parties, carry inventory, etc? Or do you want to be able to work entirely from home, using the phone and internet? Find out what the method of marketing is and find out if there is flexibility as well.
• Find out what kind of target audience you have. If you are selling jewelry or makeup, you will be cutting out about half of the population. If you are selling tools, you may be cutting out the other half. Will you be marketing products that everyone needs and uses, or just a certain group of people? If it's a certain group of people, how well do those products sell during difficult economic times? These are all things you will want to consider.
• Figure out how much income you want, and find out how you can achieve that with the companies you are considering. How long does it typically take someone to get to that income level? How much of your business is tax-deductible? Do you have to re-invest your earnings into product, training, or overhead? Or is your profit pure profit?

Although this is not an extensive list of questions, it should get you headed in the right direction. I am so thankful that I have found the right business for myself, and I hope you do too!