Monthly Archives: November 2024

Looking For A Home Based Business 5 Questions You Must Ask

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When looking for a Home Based Business there are 5 very important questions you must ask.

They are:

Question #1: What is the product or service being sold?

If you cannot clearly identify a specific product or service being offered for sale through the Home Based Business, it may be a Pyramid Scheme or a similar type of Scam.

Here’s the reasoning behind it:

If there’s no product or service being offered to the public for sale, how can the company promoting the Home Based Business generate a profit? Where’s the money coming from to pay you a commission or a bonus?

If they’re not making a profit from sale to the end consumer then they’ve got to generate that income from you and other members like you just recruiting other people who are usually asked to pay some outrageous Application/ Registration Fee, even if they call it by a fancy name.

This is nothing more than a Pyramid Scheme and NOT a legitimate Home-Based Business. A popular example is Gifting Programs, there are no Goods or Services being sold, it’s just people exchanging money with other people. Sooner or later somebody is bound to get hurt!

Question #2: How stable is the company?

Why is this important?

Well suppose you found what seemed like a really great company and started building a Home-Based Business with them only to find out 2 to 3 years later that the FTC swooped down on them for illegal practices and shut them down for good?

This actually happened with one company I was working with many years ago.

People became millionaires with this company in a matter of months. It was the fastest money I’d ever made in Network Marketing up to that time, but within months of joining the company it all came crashing down because of problems with the structure of the company and certain practices that displeased the FTC.

I learnt my lesson.

In checking out the company you’ll want to find out how long they’ve been in business and where their headquarters is located. You’ll want to ask about any other Companies they’re affiliated with, like their Parent Company, Sister Companies or Subsidiaries if there are any.

There’s an old adage that goes; “Show me your friends and I’ll show you who you are.”

That applies here.

You can tell something about a company by the company it keeps (pun intended).

In looking at how long a Company’s been in business be careful not to throw away the good with the bad, for instance, a particular program might be brand new but the Parent Company backing that program might have been in business for many years, giving it the stability you’re looking for. Look deep and don’t be afraid to check behind the curtains.

Question #3: What is the quality of the company’s leadership?

Dr John C. Maxwell, international Speaker, Motivator and Best-selling Author says, “Everything rises or falls on leadership.”

It has been my experience that a Company usually takes on the characteristics of its leader(s) so, if you want to know what kind of business you’re about to join, look at the leadership.

Practically speaking, you’ll also want to check out the business acumen of the person or people in charge because they’re the ones making the decisions that’ll impact the future of the Company – Your Company.

Question #4: How good is the compensation plan?

I think The O’Jays said it best; Money, money, money, money… monney!!!

You’re going in business to make money not to look good in a business suit.

And if you have a real Home-Based Business then you won’t be wearing a business suit in the first place, Right?

There are so many different types of Compensation Plans; from the sublime to the laughable. There are 2-Ups, 1-Ups, Binaries, Unilevels, 5×7 Expanding Matrices. There are Spillovers, Powerlines, Breakaways and on, and on, and on.

Here’s what to focus on:

How much is being paid out in commissions?

Too little and it’s not worth your time, too much and the company might not retain enough profit to sustain its continued growth and expansion.

The experts say about 65% being paid out in commissions is the acceptable norm.

Understand the difference between Bonuses and Commissions.

Commissions usually form part of your ongoing residual income. Bonuses are usually temporary financial increases, paid on a specific action, performance or fulfilled quota and as such; do not form part of your regular ongoing income. Focus on good commissions as opposed to bonuses!

Look for passive, residual income.

This is the kind of income wise people seek after. It’s the type of income you keep getting long after you’ve stop working. An author writes a book once and keeps getting royalties from sales years after she stops writing.

The Harry Potter Series made J. K. Rowling a billionaire and now here comes Stephanie Meyer and the Twilight Series – Go sisters, go!

With a Home based Business the same thing is possible.

You can do the work once and keep getting paid forever once you’ve selected a stable Company with good Leadership and the right Compensation Plan with an easily Duplicatable System.

Question #5: Is it easily duplicatable?

Even if you’ve got everything else going for you that’s mentioned above, if the system CANNOT be easily duplicated it’s not going to work.

Your attempt at building a successful Home-Based Business will fail and here’s the reason why:

J. Paul Getty said, “I would rather earn 1% of the efforts of 100 people than earn 100% of my own efforts.”

This is the axiom upon which Network Marketing, MLM’s and Affiliate Programs are built. Zig Ziglar said it this way, “If you help enough people get what they want, you will get what you want.”

Either way you look at it, it’s going to take a team. Teamwork makes the dream work. So, if the system you’re looking at cannot be easily duplicated by the average person who wants to start a Home-based Business how are you going to ever build a successful team?

There are over 475,000 people worldwide starting a Home-Based Business every week, 175,000 here in the USA alone. Most of them don’t know how to build a Home Based Business so if your system isn’t user friendly then, most likely, they’ll find another one that is.

Keep these tips in mind:

We live in the age of Video; this is the YouTube Generation so, if your program makes use of video to help sell the product or explain the benefits that’s a plus.

People have become very wary of ‘meetings’; that’s like a four-letter word to most so, if your business presentations can be done online that’s a plus.

We also live in the Digital Age; Digital Products are the fastest selling commodity on the Internet right now. If your business is involved with the sale or distribution of Digital Information Products that’s a plus because they’re instantly delivered and can cut overhead expenses by as much as 80% for the Company thus increasing the Profit Margin.

This simply means… More money for everyone!

There you have it; my 5 top questions you should ask before joining any Home-Based Business.

Star Wars And Psychology Embracing The Dark Side

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A few evenings ago, some friends and I decided to watch the latest Star Wars film, Return of the Sith. This film got me thinking about a concept that is key to much of the hypnotherapy that I do, and is an excellent example of how not to lead one’s life.

Much of what makes the Star Wars story so alluring is the puzzling change that occurs in Anakin Skywalker. How is it that a man can turn from supremely good to the embodiment of evil? We’re led to love Anakin the Jedi and hate the same man, only a few days later. It is both puzzling and troubling. What is even more puzzling (and perhaps troubling) is that, on the surface, it seems that Anakin’s love for Padm is what leads him, ultimately, to the dark side.

This is an excellent example of the way the Jung claims that the human shadow works. The shadow, according to Jung, is a huge portion of our personality that we disown. We disavow it, and lock it away. Once it is locked away, it becomes destructive. We can see this in many ways: a person who denies something about themselves turns to self-destructive behaviors such as excessive drinking, or even worse, becomes violent. It is commonly accepted that many anti-social behaviors have their roots in a person’s inner conflict.

Anakin’s inner conflict is severe. He lives like a Jedi which is, more or less, a monastic life. So many of the other Jedi do this very well and Anakin fails. He fails the moment he starts to let his shadow express itself. What has been locked up for so long has grown vicious, and now consumes and destroys him. The image of Anakin locked into the hood of Darth Vader shows that he has really become consumed; he shadow has gotten loose; all that is good about him has been destroyed.

There is a lesson to be learned from this; and it’s a lesson that goes back thousands of years. There are parts of us that we, or society, don’t like. We have instincts, desires and urges that are, in some ways, unacceptable. It is only natural that we should try to repress them by doing so we can be accepted by those around us. Unfortunately, when we oppress what we don’t like about ourselves, it causes problems. It is the root of many neuroses and other problems in our lives.

The solution to this problem seems simple and is a monumental task: we must strive to make ourselves whole. That means, when we feel an urge to do something unacceptable, we must step back and examine that urge. We have to figure out what is at the root of that urge, and we have to integrate it into our lives in a positive way. We must understand that we are good and that applies to everything about us. Something that has been shoved aside and allowed to become bitter and vicious is simply a natural part of us gone bad, and it is incumbent upon us to address that. In order to live good, healthy and happy lives, we have to embrace our dark side.

If Anakin Skywalker (and the Jedi) were to embrace the Dark Side in a healthy way, they would be more powerful than ever. They would feel emotions,love, anger, fear, and hate and all of those emotions would be in proper perspective. Additionally, they would have access to the power that all of these emotions affords their adversaries, the Sith. Keeping the ill effects of some human emotions at bay does not help the Jedi at all; it just leads to dramatic outbursts of those same emotions. The lesson here is simple and very important: embrace your dark side in a healthy way, and you will be happier and more powerful.