Avoid the Home Business Pitfalls

Take the time and learn about a home business opportunity before you jump in.  You may be jumping onto a sinking ship or financial quicksand.  Why set yourself up for failure?

The radio alarm suddenly blares out and you lay there deciding if you should hit the “snooze” button for a third time or if you actually have to get up and go to work. 

Work – that thing you have to do almost every day just to pay your bills and feed your family.  It’s not much fun, but hey that’s why they call it work right? And there is that light at the end of the 40 year tunnel called retirement. 

“If I can just put up with this for another 28 years I can retire and live my dream life on 40% of what I make now.  I am sure the government will have fixed social security by then and I will be able to live my dream life and take those vacations…”

Sorry to be a little cynical but it really can be a little scary when you start to think about it.

But many of us consider ourselves the lucky ones.  At least we have a job.  We didn’t get laid off during the latest recession so we kept our house and car and have a food for dinner today.

But are you really happy with your job?  Many people would answer that with a NO!

For some people a home based business is the answer.  Many of them allow you to start slow with little start up cost and you can build your business before you quit the day job.  Not quite as scary as spending lots of money, quitting your job and risking it all on a dream.  Plus a home business can give you time freedom along with financial freedom.

If you are someone thinking about jumping into the home business field, you are not alone.  But I should warn you; this is still a job that requires work and effort.  It is also one where you will be the boss so you need to make a commitment and be willing to do what needs to be done without someone always giving you direction.

Everyday there are thousands of people just like you looking to start a home based business. The sad truth is hundreds of these people who start a work at home business fail miserably. Why?

Well there are several reasons.  Part of it is lack of knowledge about what it takes to make a home business work.  It comes down to training and education.  It also comes from the lack of commitment of those who start the business.  They see the big money numbers and the glitz and flash and they don’t see the time, effort or work it takes to achieve those things.  And finally, there are so many opportunities springing up that many of them really aren’t viable business plans to begin with.  They are merely scams or poor attempts to create a home business plans that is proven to work.

Avoid the trap and learn to target the good business opportunities.  Find that diamond in the rough.  You will have already started a step above and closer to success.  But don’t forget even a good business plan backed by a solid parent company still requires you to be committed and determined to do what it takes to be successful.

Discover the top five reasons why many home based businesses fail before they ever really begin.

Problem #1: The Opportunity and Company offering if are both Unproven:  The internet is an amazing tool but it is also an amazing way to create things quickly without any thought.  People are jumping as fast as they can to create the next big thing.  Most of them fail.  Are you ready to risk your time and effort on an unproven company trying to market products and services that are not well established.  It is a gamble and one not stacked in your favor. 

Solution: Look for a company with a long and solid track record. One that has proven its products and business methods work. It doesn’t hurt to find one in a growing market area.  That means it doesn’t matter that you are just starting up.  There are plenty of customers and new ones springing up every day.  Healthcare and Green Products are two great examples.

Problem #2: The money making opportunity and methods are outdated.  What worked in the past doesn’t always work today.  The modern consumer doesn’t always buy like their parents did.  Is the company you are looking to join keeping up with the new way of doing things?

Solution:  Look for a plan that taps into social media, the internet and offers more than one way of generating income.  Multiple income streams means that even if part of your business slows the other areas can keep you from folding up shop.

Problem #3: Some business plans are focused on making the promoters or ‘people on top’ rich. Make sure you find out how you get paid and what you need to create wealth.  Do you have a chance to move up the ladder and make the real money.

Solution:  Again, It comes down to looking at well established businesses.  If a business is not helping the little guy, the average person, truly become a leader and make their dream income than the company will slowly die.  Why would people keep working so hard just to make the other guy some money.  Good plans evolve and survive while bad ones wither up and blow away.

Problem #4: An opportunity looks too good to be true.  If it looks that way it probably is.  Many of the hottest and exciting work at home opportunities are immoral and illegal. Avoid these get rich quick schemes and pyramids at all costs!  Not only do they not make you money, they can get you into real trouble, maybe even legal trouble. 

Solution:  Always ask questions and do your research before you sign up for any opportunity.  A good, solid company has nothing to hide and if they aren’t already putting the information on their website or company brochure they should be more than willing to give you all the details of what their product is, how it is produced, how it is sold and what you have to do to make your money.  Again don’t let hype or glitz trick you onto the wrong path.
Problem #5: Many opportunities don’t last long.  They are startup companies, or established companies trying to extend themselves outside their true market just to make a buck.  So many of these opportunities are here today and gone tomorrow.  Just like your home needs a good foundation to be stable and strong long into the future so does a business.   With no real product to sell or service to offer they are merely hype.  And hype will only take you so far before reality catches up.

Solution:  I am starting to sound like a broken record, but a company and a plan that have a proven product and a proven sales method are really your best bet.  People that started their business 20, 30, 40 years ago are still doing it and people that started earlier this year are also enjoying success. 

You have worked this long at that ‘job’ that pays the bills.  You can afford to work there for a while longer while you find the right company and the right opportunity for you. 

Try to avoid the traps and pitfalls and you will give yourself a much better chance of finding success on the home business front. 

If you are ready to learn more about a company with over 50 years of leadership in the home business industry check out the Freedom Project.  A proven home business system backed by a leader in the home business field.  

No obligation, no risk, and no phone calls or email unless you ask for them.  What have you got to lose except the chance to get out of that 'job' you don't really like anyway.

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M. Tomberlin

Mike Tomberlin

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