You only need to look at the headlines to see what your future may hold, and it isn’t pretty.
Corporate bankruptcies that wipe out employee pension funds, while CEO’s not only keep their jobs, but are paid millions; many homes working the first half of the year just to pay their tax bills.
The bleak future of social security that at best may force many Americans to work until age 70, if it exists at all and most recently the report that personal savings for 2006 dropped to the lowest level in 74 years.
Any of these separately are bad enough, but many workers are the victim of several of these, creating an uncertain future for themselves and their families.
What’s the answer? To many, like me, that has come in the form of a home business. Thousands each year are turning to a home business as a way to supplement or replace their income and provide them with the time freedom that they desire to pursue other interests (besides fighting traffic, being at the beck and call of a boss, and working to make other people significant sums of money, while barely getting by themselves).
But, what should one look for when deciding what business they should pursue?
Here are the major points that I suggest:
- Look for a business that offers products that are consumable. Security comes in creating residual streams of income (those that pay you over and over for work you do once).
The best consumable products are those used on a monthly basis: subscriptions, telephone services, and nutritional products are just a few examples that fall into this category.
Perhaps you could have a home business selling bowling balls, but you would constantly need to be on the lookout for new customers and never have a business that provides you with a “walk away income.”
High quality products, consumed on a regular (monthly) basis, that provide a service that the customer will use long-term, will provide you with the kind of business you’re looking for.
- Select a business that can be built utilizing the power of the internet. Who wants to go from being tied to a desk to being tied to your own brick and mortar business? The internet makes it possible to business from virtually anywhere, 24/7 (in fact, I’m betting many of you will read this while I’m sleeping).
Home businesses used to have to be built locally, door to door, but no more. It’s just as easy today to get involved with a home business that offers an opportunity to build internationally, as it is to be strictly a local endeavor.
- Company stability is of major importance when selecting your home business. Remember, most businesses fail within the first five years after they launch, so be very careful getting involved with a company that hasn’t passed this benchmark.
The longer the company has been around, the better their track record and also the easier it is to get detailed information that will assist you in determining the legitimacy of the opportunity.
Also, it’s easier to gain information if the company is publicly traded as opposed to being privately held, as they are required to make documents such as financial records available to the public at large.
- Finally, look for a business where you can take advantage of a growing trend that appears to have staying power.
You just have to look back to see how many of today’s millionaires made their money, by getting in front of trends like computers, housing booms, etc.
Ok, there’s some serious food for thought when it comes to getting started with a home business.
There are other factors to be considered, but these are some of the major items that you need to get a handle on when making a decision as to which opportunity is best for you to build your future on (and your future is certainly better in your control and in the control of others).
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Courtesy of: The Internet Home Business Specialist
About The Business Articles Author
Dr. Richard Norris has been creating residual streams of income through network marketing, affiliate programs and the creation of information products for several years.
If you are interested in learning more about the best way to get started successfully in a home business, visit http://fearorfreedom.smmsite.com