5 Questions I Wish I Would’ve Asked Before Joining My First Home Business

A couple of weeks ago, a friend of mine and fellow entrepreneur, Richard Bravo,  posted this question on his Facebook wall:

What are the “Frequently Asked Questions” you ask, details you want to know, when looking at a business?

The thread actually turned out to be a valuable training in itself so I took my part of it, the questions I wish I would have asked when I first got started back in 2002, added a little more and turned it into this blog post for you.

It may help you in your decision in either choosing your first home business OR selecting another one that’s a better fit for you.

Hindsight is always 20/20 and you don’t know what you don’t know until you either go through it yourself or take the advice of someone who has.

So here we go…the question followed by my answer…

1.  If I never enroll a single business builder who does what I can do, just happy customers, will my efforts still be rewarded nicely?

From my experience, I’ve learned that there are several different types of compensation plans and most companies put their own spin on them.  Being ‘seasoned’ in the industry, question number one is super important to me because I want a comp. plan that rewards me for my work not just relying on the work of others and ‘team’ building.

2.  Can you retail your product?

When I first started, I found that some people love retailing products at Farmer’s Markets and different local venues but not all comp. plans are retail friendly.  Personally, I don’t think it will make or break your business but to have that versatility may be something you want to consider because “different strokes for different folks” and just because you may not want to retail products that doesn’t mean someone on your team won’t.

3.  Is the product or service unique?

This question is a BIGGIE because you want to align yourself with a product or service that really can’t be found anywhere else.  Meaning you don’t want your customers to be able to go to Costco or the like and find something comparable or close because you will constantly be trying to convince people as to why your stuff is different.  And even though it may very well be a stand out product or service, it’s not a good position to put yourself in.

4.  Can it be reordered every month?

Another BIGGIE!!!  Can your product or service be reordered every month because if it can’t that kind of “shoots a hole” residual income thing.  Not to mention if it’s not something that can be ordered and used month in and month out… you will be on a constant HUNT for new customers.

5.  Am I looking at this to be LONG TERM or am I looking for a QUICK BUCK?

This is a question near and dear to my heart because not too long ago, I got sucked into the QUICK BUCK mentality.  The fact of the matter is… there is no such thing.  And it’s a question that needs to be carefully examined because with ALL the junk and manipulation around, YOU need to be aware of WHY you are attracted to something.

Is it the ‘greed’ factor that’s attracting us because we looking for the “quick fix” and the thing that sounds magical and easy OR is it an ethical, moral business venture that reeks of honesty, integrity, longevity and good old fashioned elbow grease to make it work?

Tip = If anyone paints you a picture that you will be sitting on a sandy beach while the cash register keeps cha-chinging (okay maybe not that extreme) but they are giving you the impression that little to no work is involved… THEY ARE TAKING ADVANTAGE OF YOU.

Okay… that about sums it up for the five questions I wish I would have asked before I started my first home business.

Like I said… you don’t know what you don’t know until you either go through it yourself or take the advice of someone who has…

I’ve laid it out for you… what you do with it is your choice…:)

If you have any questions or need help, click HERE so I know HOW TO best help YOU!

Until next time…

Nothing but LOVE & FUN + DOWN & DIRTY!

The Uncommon Housewife

 

 


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5 Responses to 5 Questions I Wish I Would’ve Asked Before Joining My First Home Business

  1. Richard says:

    Shelly you’ve compiled a great list of questions here.
    I would say that this is more than just a list and could easily be a model of “what” to teach people; which is one of the most concerning things I see out there … only half of the story is being shown to people. Whether its intentional or not is something I’m not going to try to decipher. However, it is quite clear that an unfortunate majority of the time newbies (i.e. smart starters) are only being shown what the “marketer” wants them to see for the sake of a captivating headline, riveting content (i.e. dramatic effect) and a shot at a sale.

    If everything were uncovered and the truth revealed, the real secret would be exposed… the secret that this takes lots of work and a personal commitment unlike anything most people have ever experienced in their life as a worker bee. The secret that you must be willing and eager to grow and become the person you may be afraid to become. And that the “secret to success” is nothing more than dedicating yourself to that process, integrity, helping others and an unwavering drive to work your ass off more than the guy next to you or die trying.
    Richard recently posted..Positive Expectancy: the power of “yet”

  2. Lidia says:

    Wow these questions are great Shelly, and a great food for thought for someone just starting out!!!
    Lidia recently posted..Mobile Marketing Campaigns

  3. Shelly, this is AWESOME!

    So succinct, and clarity-inducing.
    Definitely required reading for all newbies, as is Richard’s comment about how hard it can be in the beginning.

    And I’m even more thrilled that my new biz answers YES to all 5 questions!
    Added impetus to get moving lol

    Bliss-ings,
    the goddess known as Jacqui

  4. Ab-so-LUTE-ly, Shelly. Anyone with a bricks and mortar business background will read this and think ‘well… duh!!’ but it’s insane how many people without that background come online expecting the web to be a no-effort-involved lottery cash register. So many people go broke trying to make quick cash.

    If you approach a network marketing business the same way that you would approach setting up an actual shop on the street, with a long term plan and a sensible business head on your shoulders, your chances of success are magnified exponentially.

    The sad fact is that because the start up costs on MLMs are so low that people don’t take their network marketing businesses seriously when they set them up. They go into it with a gambling, quick fix, mindset.

    Even a franchise costs a stack of cash to set up. A guy from Australia who wants to join the business I’m in, set up a couple of Subway franchises – and did very well with them – before starting a side project with an MLM and making even more. He told me that Subway charges you 5,000 Australia Dollars – 4,995 US dollars – to send in an application! If you’re turned down, you don’t get the money back. That’s just an application. There aren’t many MLMs that charge more than $5,000 to get fully set up at the top level!

    If more people online understood the basics behind setting up a traditional business, or even a franchise, they’d feel so blessed to have access to the network marketing niche.
    Rebecca Woodhead recently posted..You Are So Great

  5. I wish I would have known about you two months ago! The good news part isi haven’t invested a lot of money yet but am planing on it next month. I have two ‘bussinesses’ nothing big and it was just to learn the ropes the first one is ‘IN MY GARDEN’ the second is http://www.agoodmorningsstart.blogspot.com I want to go bigger and yes I know I’ll need a website and domain and hosting but three times I’ve been ripped off with promises to help and I pay the money and get nothing, so I’m trying to teach myself before I invest the money. I am so appreciative of any advice.
    Natalie Adair-Butler recently posted..My three favorite bushes

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