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Sunday, March 29, 2009

Launching a Business? Consider The Facts

by: Tina Lynn



You see it splattered everywhere you look; the most innovating "this" and the best "that". "You must join our business. This is revolutionary", some say. Or an even better one is the notion that everyone needs, wants, or already uses the product or service being promoted. How many times has someone tried to sell you on a business? You see so many of these claims because people become desperate, vulnerable and want to believe that there are actually programs that can earn them lots of money with little effort. But should a friend or family member suggest a certain business model works and can provide a decent income, what then? Do you go for it? Do you not? What does joining a home based business really mean? Will you earn loads and loads of money? Be able to quit your day job? Well before making any drastic transitions, allow me the opportunity to uncover some myths and facts related to home based businesses.

Myth:
I am my own boss.

Truth:
Not necessarily. Unless you create your own business or product, in direct sales, you are still working under someone else. The differences here are that you choose to work independently, and your training may be somewhat on an individual basis. It may be covered via online or by phone. You are still, however, creating more wealth for the owner and top executives of that particular company. Choosing a business does not guarantee any type of ownership despite your successful years of workmanship. And the closest thing I've seen to retirement income is residual income. This income is a percentage earned off of all of customer product orders and is sent to you as long as your clients remain customers.

Myth:
You have more time to spend with family.

Truth:
You may see your family more but this does not mean that you will spend more quality time with them. In business, your success is totally dependent on your production. In the beginning of building your home based business, you will find that there is a great amount of work involved; work that in the end will pay off. Being around your family more often may work against you and the quality of your work, if you do not lay some ground rules ahead of time. It's best to discuss your goals and plans with your family and give them a clear understanding of how they should treat your work home career and the importance of giving you the space you need to get the job done.

Myth:
I'll make a whole lot of money.

Truth:
This is one of the most common mistakes when deciding on a work home career. You should never assume that just because someone is earning a lucrative salary in a fraction of the time spent in the business, you are sure to have those same results. Everyone is different. We all approach and reach others on different levels and so on. What works for one person will not always work for someone else. If you join a business solely based on this, you will get burned out and will most likely quit. You must have a passion for what you do and you must believe in what you are representing. If you don't absolutely one hundred percent love what you do, how are you going to convince others to do the same.

Myth:
Working in business is more stable than having an outside job.

Truth:
This can be no more further from the truth. Businesses are not anymore stable than regular companies. Nothing in life is guaranteed. As an independent contractor working for a business, some contracts state the company does not even need a reason for letting you go. What does that tell you?

Myth:
There are no rules associated with working a home based business. I can work however I want.

Truth:
Wrong. You may be able to work "whenever" you want. But there are always going to be policies and laws in everything that has to do with “how” you choose to market the business and the manner in which you do. Some companies prohibit online marketing, or using their company name directly, and even using your own printing materials. That’s right, just because it’s free or cheap to join, does not mean there aren’t other fees associate with doing your job. Having the freedom to work from home comes with huge responsibilities. Unless you know what you are doing, wandering in unchartered territory can lead to sinking.

There are so many reasons for you to do your homework when reviewing work from home businesses. . Don't allow others to persuade you into entering an agreement you do not feel comfortable with or one you do not fully understand. You must honestly decide for yourself what is best for you. Can that be continuing to work outside the home or joining a home based business? That decision is for you to decide and you alone. But making your decision doesn't have to wreck your brain. Here are some pointers that you should consider within your search:

Company Reputation/Integrity

You want to check this carefully. Are there any ripoff reports on them? What is their standing with the BBB? Do they have any current or past lawsuits filed against them? What about customer reviews or the way they treat their clients? What about former contractors? Why did they quit? It’s amazing what you find lurking in forums, message boards, and online groups. If there is any negative feedback, and you are diligent in your searching, you’ll definitely find it. Remember that a business will only sell you. That is the job of everyone associated with it. So you will get nothing but praises from a current member. But ex-members will spill the beans and the beans, are exactly what you want.

Company/Business Policies, Rules and Regulations

Every company and business has their own policy statement. There is always something you sign that is associated with the job you accept or business you join. You want to read this carefully before signing. If you do not understand the jargon, just ask your en-roller or the company human resources. It is vital that you understand your rights and your obligations associated with the position you've accepted. I've seen some speak about a particular business that cancels your membership if you don't advertise in the exact manner specified in their policies. Just be very careful and know what you are signing.

Company/Business Training and Employee/Member Interaction

Another disadvantage. If you are trained by your down-line and for some reason, this person either sucks or the two of you do not get along, “tough”. You are either stuck or you have to be strung along through some long drawn out procedure to get switched. This is not the case for all, only some.

Termination/Voluntary Separation

Every business states a different policy relating to termination or "notice of separation". Some state they can terminate you for any reason at any given time. Others may state that once you are separated from the company you can no longer venture in a business that is related to theirs or even create one. If you are in a business and do not know your policies or what you can or can not do associated with this, please read carefully. The business does have a right to prosecute you if you violate these policies.


It's obvious that choosing a path such as this is not easy and comes with a hefty price. It could be time, money, heartache, pain or more. It could also be rewarding, worth your while and the best choice you’ve ever made. Predicting the fate is not always clear, but research and wisdom can guide your fate in a great direction. So know the cost and decide wisely for your family and for your future.

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