When it comes to choosing the right home business for you -- or perhaps evaluating one you are currently in -- aside from the product/service (whole other story) and the strength of having a life time of residual income (another story) there are two things I believe that people don’t pay enough attention to. In my opinion they are crucial.
What am I talking about?
Leadership and Long Term Viability.
When you decide to build your own business from home, it’s important to understand that it’s your business. To be successful, it requires support and leadership as well as the ability to lead yourself. I would also add that when it comes to putting in your hard work, it’s important to make sure you’re working at something that will produce results not only for the short term, but for the long term as well.
Here are my top seven questions to ask the person that you may team up with, or are currently working with.
1. How long has the company been in business? You want to partner with a company that has been in business for at the very least 5 years. It should also have a consistent growth pattern. The longer the better. This will show the companies leadership and long term viability.
2. How long has that person been involved with the company? Who is teaching team? The answer to these questions will provide you with some clues to evaluate.
3. What is their monthly residual income? Residual is most important as this is the “secure” long term, hopefully, life time income. Meaning, if they had to stop working their business for a period of time, what would their monthly income look like from their previous work? Now I understand that you may speaking with a “new” member, and that’s OK, as you’ll see with the following questions.
4. Does the company that you would be representing, print annual income statistics for each status/level? These statistic should show the highs, lows and average incomes on a monthly and yearly basis for each status. It should also include the average time frame it takes someone to achieve each level of income. It’s very important to understand what to takes to achieve your goals.
5. Does the person you’re considering partnering up with, have anyone within their business that is earning more than them? Or does anyone that they work with, have anyone in their business that earns more than them? Can they show it through documentation?
You want a business where everyone has an equal opportunity. Where anyone can be successful regardless of when or who they joined with as opposed to the guy or gal “at the top” making the most.
You also you want a business that promotes and rewards for helping others in your business.