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The following is a series of questions I believe should be answered prior to signing any contractual agreement with any business corporation.
Is this a legitimate company? Whether we like to believe it or not, there are businesses out there that are misleading. Protect yourself. Do your research ahead of time and find out if the company is a member of the Direct Sales Association or the Better Business Bureau. A little bit of homework in the beginning can speak volumes for your future.
Is there a demand for the products or services being offered? Of course you are going to want to offer something that people want to buy. Look for quality and be selective in making your decision. We all know we can buy just about anything, anywhere. Look for something that is unique and of value. Consumable products are a wonderful choice because people will use the product and contact you for additional purchases once the product has been consumed.
Can you get excited about the products? Don’t try to sell cookware if you detest cooking. Find a product or service that has changed your life and motivates you to announce it to the world. People will know when you are being genuine and if you can find a product that practically sells itself, that’s even better!
What are the start up costs? I would suggest using caution with businesses requiring over $500.00 as an initial investment to start your business. This initial start up fee should always be in exchange for product and training materials. Look for businesses that require a low start up fee and do not require you to have a lot of inventory in your possession to be successful at sales.
Are there any established territories? Some companies will set limitations on how far you can sell outside your home based location. If you are looking forward to being able to travel and sell your product without territorial limitations, then you will want to make sure the company will permit you to do so.
Is there a residual income plan established? Team building and training can be one of the most rewarding and financially lucrative ways to establish a long-term income. Find out if this home based business offers a residual income plan and research the potential financial growth. Realistically, you can expect to invest 3-5 years if you are being intentional in your team building and training. Don’t fall for any ‘get rich quick’ scams.
Will the company buy back any unsold inventory? This is a very important question to have answered if you are investigating a business that requires you to have a lot of inventory on hand to be successful. For those who are members of the Direct Sales Association, any resalable inventory will be purchased back from you should you decide to not maintain your membership. Be sure to research the specific terms and conditions.
Are there any monthly quotas? Some companies will require you to meet a monthly quota in order to maintain an active status. Depending upon how much time you are able to invest in the business on a weekly and monthly basis, you may want to ask yourself if this sales goal is reasonable for what you are trying to achieve.
What are the perimeters for marketing your business? Inquire as to how others are marketing the products and services. Are they limited to home shows and holiday bazaars? Does the company allow for the product to be retailed from storefronts? Does the company have a policy about online marketing and if so, do they allow their distributors to take advantage of one of the most effective ways to market today?
How do I opt-out should I decide to no longer be a part of the company? Find out if there are any hidden costs or penalties involved in no longer being a part of the companies distribution team. A clean and easy opt-out is always preferred.
The answers to these questions are critical and can greatly effect the outcome of your businesses success when paired with your vision for your future. Take your time when choosing the business that is right for your personality and lifestyle. Patience is a virtue.
Category: Home Based BusinessKnow Your Facts! 10 Questions You Should Ask Before Starting a Home Business was written by:Author:Sabrina CoffinAdded: Fri, 19 Jan 2007 16:37:45 -0500 This Article Has Been Read 749 times View all Sabrina Coffin's articlesAbout the Author: Sabrina Coffin currently works exclusively from home and enjoys staying home with her 4 children and husband of 16 years. To learn more about her home candle business you may visit her site at http://www.Oceansidescents.com/. She also has created a site for Work at Home Moms at http://www.WahmsAlley.com/ . |
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