Online Homebased Business
Online Homebased Business Article
How to Choose an
Online Homebased Business…
That’s Right for You!
by JC Dawkins
Is your head spinning with all the choices of online homebased business opportunities available on the Internet? Are you looking for the best online home based business that would allow you to build a profitable, online business, but there are so many to choose from that it is far too confusing to make a decision?
As an entrepreneur, or “soon-to-be” entrepreneur, you are probably being inundated with information about online home based businesses.
This article will take you through an assessment process that may be helpful to you.
To begin, it is helpful to decide on the type of business and/or the distribution channel. For example, do you want to create your own product, sell a company’s product, or provide a service?
Then, after deciding on the type of business, you’ll need to research the industry, company and management. In other words, you need to do your homework. As an example, I researched different multilevel network marketing opportunities, making sure I asked the following questions to determine which was the best MLM company for me:
- Do I believe in the product and could I see myself marketing it? What is the reputation of the product?
- Is the company financially sound? Have I scrutinized them and compared them to similar companies?
- What did I learn about the management team? How dynamic and charismatic is the CEO?
- What does a Google search tell me about the company, product, and management?
- What are people who joined this opportunity saying?
- Is this the right timing? What growth phase is company experiencing? Is company ahead of a market trend?
- Does the compensation plan pay the beginner quickly and what is the percentage payout? Can your entire team profit?
- Does company offer training and support?
The weighting you give to these answers may depend on your preferences, and there are other questions you may ask, depending on the business.
Next, after doing this analysis, it is important to deal with the “personal factor”. You need to decide what you need financially and emotionally from the business. The “personal factor” is important in determining whether you can maintain a successful mindset and resist the urge to quit.
Ask yourself, “What is my passion? What work could I do that would not feel like work? What did I need emotionally?”
In conclusion, this decision-making process has the following steps:
- Determining the type of business and/or distribution channel.
- Researching to be sure the salient or relevant facts are uncovered by asking key questions.
- Soul-searching to determine what opportunity would not feel like work.
Finally, regardless of which opportunity you choose, you will need to market your business effectively if you want online marketing success.
I hope this process is useful to you as you decide which opportunity is right for you.
If you have been marketing online for a while and want to sharpen your online marketing skills, I recommend my free mini-course entitled, “Mastering the Internet Marketing Basics!.”
However, again, if you are new to online marketing, I recommend you take this free mini-course first, “Getting Started in Online Marketing Profitably!.” Then move onto the other mini-course, “Mastering the Internet Marketing Basics!.”
***
Try these related posts:
***
Allow me to tell you a little about myself. I’m a trained Social Media Marketing Strategist, the author of this blog, JCDawkins.com (SOMS), and the creator of the Facebook fan page (StrategicMastermind or SOMM).
Feel free to contact me if you have any questions.
To Our Online Marketing Success,
“Inspiring Dreams, Empowering People, Transforming Lives”
Affiliate Disclosure: The owner of this site is an affiliate of the products promoted.
Privacy Policy
© 2010 All rights reserved. Online Marketing Success
Great question! I actually think it depends on the person. Some people are totally motivated by money. I’d like to think that most people understand that helping others is the true measure of success and you get paid in accordance to how much value you give. What do you think?
Nice post. You hit the nail on the head as far as the key areas that are so crucial to consider. I love it when people say they need to do more research before we talk again.
It’s interesting that you mention the “personal factor” and its effect in helping people resist the urge to quit. I was actually thinking about that issue this morning. I’m wondering, do you think that personal “why”s that are focused on helping others (rather than material things, the money, cars, houses, etc.) are more related to success?
Love your blog! Keep up the good work.
Ulysses, thank you for your comment. It’s interesting that you say that many people make business decisions based on emotions. I think many people go through life allowing their emotions to rule them, in general. Then they join a business and their tendency is not to be able to handle the ups and downs of building a business. So, those same emotions that got them involved can work against them…even if the business is a valid one. What’s your take?
JC, This is a great posting. I agree, people should do their due diligence before choosing an opportunity. So many people will make a business decision based on emotion alone. That’s just not wise. Thanks again and great job.