Many of us now have to supplement our day job with something on the side, just to get through the Economic climate of today. Most people will look to either an online or offline way of supplementing their current income. There are many scams out there on the internet, so how can you tell a genuine opportunity if you come across one?
There is no one compensation plan better than the other, it depends on what it is you want to get out of the business. With some opportunities the compensation plans mean high numbers of potential customers or clients, which in turn can be costly to get them in the first instance.
Look at the Reward Plan A question to ask yourself is, how quickly can I make back my start up costs through the compensation plan shown. i.e. if the business has cost you $4,500 and the compensation plan is either a % of the sales of the products, or a commission to bringing in other members of your team, how many potential prospects will it take you to pay back your start up costs. What are your ROI (returns on investment). How good is the compensation plan. There are many types of compensation plans, roll-ups, bonuses, matrices, commissions are just a few.
Products There is a huge range of products that are available on the market today. They could be physical products such as nutritional products, cosmetics which would need physical space to store them or products that do not required storage space such as downloadable e-books, software or courses.
It is important to look at how are you expected to retail these products. For downloadable products, there are no such restrictions worldwide so this means that these can be retailed online anywhere globally. For physical products normally word of mouth, or demonstrations, or sampling help to sell those types of products. They may be limited to which country you are allowed to sell them in, due to the trade licence laws on foods or products in some countries.
Look at the how much it will cost you to become either 'an affiliate, or Franchisee, or Distributor'. There is the initial sign up costs which need to be bourne in mind. How much money have you got to invest into your own home business? Make yourself a budget bearing in mind ongoing costs when looking at an opportunity.
Bear in mind ongoing costs, all businesses have ongoing costs, but make sure that these are listed up front, so there are no surprises for you after you have 'signed up'.
Get a more rounded impression of the company. Do they offer a presentation that you could watch, if so make notes while you are going through the presentation.
There is no one compensation plan better than the other, it depends on what it is you want to get out of the business. With some opportunities the compensation plans mean high numbers of potential customers or clients, which in turn can be costly to get them in the first instance.
Look at the Reward Plan A question to ask yourself is, how quickly can I make back my start up costs through the compensation plan shown. i.e. if the business has cost you $4,500 and the compensation plan is either a % of the sales of the products, or a commission to bringing in other members of your team, how many potential prospects will it take you to pay back your start up costs. What are your ROI (returns on investment). How good is the compensation plan. There are many types of compensation plans, roll-ups, bonuses, matrices, commissions are just a few.
Products There is a huge range of products that are available on the market today. They could be physical products such as nutritional products, cosmetics which would need physical space to store them or products that do not required storage space such as downloadable e-books, software or courses.
It is important to look at how are you expected to retail these products. For downloadable products, there are no such restrictions worldwide so this means that these can be retailed online anywhere globally. For physical products normally word of mouth, or demonstrations, or sampling help to sell those types of products. They may be limited to which country you are allowed to sell them in, due to the trade licence laws on foods or products in some countries.
Look at the how much it will cost you to become either 'an affiliate, or Franchisee, or Distributor'. There is the initial sign up costs which need to be bourne in mind. How much money have you got to invest into your own home business? Make yourself a budget bearing in mind ongoing costs when looking at an opportunity.
Bear in mind ongoing costs, all businesses have ongoing costs, but make sure that these are listed up front, so there are no surprises for you after you have 'signed up'.
Get a more rounded impression of the company. Do they offer a presentation that you could watch, if so make notes while you are going through the presentation.
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