Finding a Legitimate Home Business

As an entrepreneur in this day, do you have any hope?! Statistically speaking, not much. With only 35% of new businesses surviving their first year, and 29% making it through three years, what are we to do?

There are many reasons people take the risk of starting their own business. *No cap on what you can make *Set your own hours *Work to make yourself rich rather than someone else *Do something you truly enjoy *Control your time and finances

The dream of creating the life you want make are enough to make convince millions of people a year to ignore the stats and go for it. I have tried several businesses myself, and found marginal success and worked my tail off in the process. The question is always: How long do I dump money and time into this before I succeed or cut my losses?

So, what are your best options? If you are a creative mind you can think of a niche in the market that hasnt been tapped, and find a place and the finances to succeed. If you dont have any original ideas or great amounts of money, a home business might be an option for you. Lets look at the statistics for home businesses in this country.

* The number of home businesses lasting over a three year period is about 70% -much better than other business ventures. * The average income earned by home business owners is $63,000 a year. Not bad considering the average household income in America is $47,0000. * 20% of home businesses, according to Money magazine, had a yearly gross income of $100,000-$500,000 * 89% of people with household incomes over $80,000 have a home office.

If you are venturing into a home based business with a company that rewards you for bringing other people on board you will also be glad to know that it is estimated that more than 9 million people will earn some from of income from home. Someone starts a home business every 11 seconds. Also, with the internets ability to allow you to market to many countries, the economy of your own country is less of a deciding factor in success. And what about the recession? It has actually helped many home business owners because so many people are feeling no job security or are needing an extra income source.

One random fact you may not have considered is that by staying off the roads by working at home, workers will reduce CO2 emissions by at least an estimated 18 million kg this year.

There are many opportunities out there, and most are legitimate, but if you’ve spent any time searching online, the number of scams is daunting. Here are a few guidelines to get you pointed in the right direction:

* You must find a company whose products you believe in. * Although Im not against MLMs, direct selling of products with a decent commission appeals to me. * Find out if there are any third party endorsements of the company. Dont just take someones work for it. * Consider the start up costs as compared to how long it will take you to earn a significant income. Some companies offer very low start up costs but you have to work for months or even years before it starts to really generate income. * Investigate hidden costs (advertising, monthly dues, having to buy a certain amount of product yourself) * How much time are you REALLY going to have to put in to make your income goal? Ask some new people, not the seasoned 6 figure earners who are hiring their dirty work out. * Be leery of companies that want you to talk to your family and friends about your new business to generate potential customers. This almost never works. People today are bombarded with new opportunities, and its hard for most people to talk to others they know without coming across as a user.

This being said, there are many great opportunities available if you do your due diligence. Home businesses are the wave of the future, and can help solve many of our problems. Just study before you leap. From one big thinker to another, I truly wish you success!

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