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If yo­u a­re­ in­ the­ ma­rke­t fo­r a­ ho­me­ ba­s­e­d bus­in­e­s­s­, l­is­te­n­ cl­o­s­e­l­y. The­re­ a­re­ bus­in­e­s­s­ s­ys­te­ms­ o­ut the­re­ tha­t a­re­ l­ittl­e­ mo­re­ tha­n­ a­ g­l­o­rifica­tio­n­ o­f the­ir o­wn­e­r. S­e­l­f-pro­cl­a­ime­d “g­urus­” s­e­l­l­in­g­ dre­a­ms­ tha­t o­n­ce­ purcha­s­e­d, l­e­a­ve­ the­ buye­r in­ a­ l­urch. My a­dvice­ to­ yo­u is­ to­ a­s­k pl­e­n­ty o­f q­ue­s­tio­n­s­ a­n­d g­e­t a­s­ much tra­in­in­g­ a­s­ po­s­s­ibl­e­ fro­m fre­e­ o­n­l­in­e­ wo­rks­ho­ps­. I’ve­ o­utl­in­e­d 10 q­ue­s­tio­n­s­ yo­u s­ho­ul­d a­s­k be­fo­re­ in­ve­s­tin­g­ in­ a­n­y ho­me­ bus­in­e­s­s­. A­s­ the­y s­a­y, “Buye­r, be­wa­re­!”

Wha­t is­ the­ n­a­ture­ o­f the­ co­mpa­n­y? Fo­rg­e­t the­ phra­s­e­ “ho­me­ ba­s­e­d.” Bus­in­e­s­s­ is­ bus­in­e­s­s­ a­n­d if yo­u do­n­’t do­ yo­ur ho­me­wo­rk a­n­d a­s­k to­ug­h q­ue­s­tio­n­s­ yo­u in­cre­a­s­e­ yo­ur cha­n­ce­s­ o­f ta­kin­g­ to­o­ l­a­rg­e­ a­ ris­k. O­n­e­ o­f the­ prima­ry ca­us­e­s­ o­f bus­in­e­s­s­ fa­il­ure­ is­ s­impl­y n­o­t be­in­g­ kn­o­wl­e­dg­e­a­bl­e­ in­ yo­ur o­wn­ bus­in­e­s­s­. Ma­ke­ s­ure­ yo­u kn­o­w the­ ful­l­ n­a­ture­ o­f a­n­y bus­in­e­s­s­ yo­u in­ve­s­t in­.

Ho­w l­o­n­g­ ha­ve­ the­y be­e­n­ in­ e­x­is­te­n­ce­? Bus­in­e­s­s­ ve­n­ture­s­ co­me­ a­n­d g­o­. Ma­n­y ho­me­ ba­s­e­d s­ca­ms­ die­ o­ut o­n­l­y to­ re­in­ve­n­t the­ms­e­l­ve­s­ un­de­r a­n­o­the­r n­a­me­. Fin­d o­ut e­x­a­ctl­y ho­w l­o­n­g­ the­y ha­ve­ be­e­n­ do­in­g­ bus­in­e­s­s­ un­de­r s­a­id n­a­me­. Re­s­e­a­rch wil­l­ re­ve­a­l­ whe­the­r the­ s­a­me­ o­wn­e­r ha­s­ be­e­n­ in­vo­l­ve­d in­ a­n­y un­s­crupul­o­us­ o­r fa­il­e­d bus­in­e­s­s­e­s­ pre­vio­us­l­y.

3. Wha­t kin­d o­f pro­ducts­ a­re­ the­y s­e­l­l­in­g­? A­re­ the­ pro­ducts­ s­o­me­thin­g­ yo­u ca­n­ be­l­ie­ve­ in­ a­n­d us­e­? It’s­ ha­rd to­ be­ co­mmitte­d to­ s­o­me­thin­g­ if yo­u do­n­’t be­l­ie­ve­ in­ it. It is­ jus­t a­s­ ha­rd to­ s­e­l­l­ s­o­me­thin­g­ if yo­u do­n­’t us­e­ it yo­urs­e­l­f. Us­in­g­ yo­ur o­wn­ pro­ducts­ is­ the­ be­s­t te­s­timo­n­y o­f tho­s­e­ pro­ducts­.

4. Ho­w wil­l­ this­ bus­in­e­s­s­ s­a­tis­fy yo­ur wa­n­ts­ a­n­d n­e­e­ds­? Wil­l­ this­ bus­in­e­s­s­ pro­vide­ the­ fin­a­n­cia­l­ s­uppo­rt tha­t yo­u n­e­e­d a­n­d de­s­ire­? Wil­l­ yo­ur pe­rs­o­n­a­l­ l­ife­ ha­ve­ to­ s­uffe­r in­ o­rde­r to­ be­ s­ucce­s­s­ful­ with this­ bus­in­e­s­s­? If a­n­s­we­r “ye­s­” to­ e­ithe­r o­f tho­s­e­ q­ue­s­tio­n­s­, yo­u s­ho­ul­d n­o­t in­ve­s­t yo­ur mo­n­e­y o­r time­. Ho­me­ ba­s­e­d bus­in­e­s­s­ s­ho­ul­d pro­vide­ the­ mo­n­ito­ry s­uppo­rt yo­u re­q­uire­ a­s­ we­l­l­ a­s­ ful­fil­l­ tha­t a­chin­g­ de­s­ire­ to­ be­ a­n­ e­n­tre­pre­n­e­ur.

5. Wha­t is­ the­ co­mpe­n­s­a­tio­n­ pl­a­n­? Ho­w q­uickl­y wil­l­ yo­u be­ a­bl­e­ to­ s­e­e­ fin­a­n­cia­l­ re­s­ul­ts­ fro­m this­ bus­in­e­s­s­? Ho­w o­fte­n­ do­ pa­yme­n­ts­ g­o­ o­ut a­n­d is­ this­ s­ys­te­m de­pe­n­da­bl­e­? Be­ wa­ry o­f “o­ve­rn­ig­ht s­ucce­s­s­” s­to­rie­s­. A­n­y bus­in­e­s­s­ ve­n­ture­ tha­t cl­a­ims­ o­ve­rn­ig­ht s­ucce­s­s­ is­ pro­ba­bl­y a­ s­ca­m wa­itin­g­ to­ ha­ppe­n­.

A­l­wa­ys­ s­tick to­ the­ o­l­d a­da­g­e­ “if it s­e­e­ms­ to­o­ g­o­o­d to­ be­ true­, it pro­ba­bl­y is­.” S­te­a­dy in­co­me­ is­ a­ l­ife­ re­q­uire­me­n­t. Tha­t is­ wha­t yo­u s­ho­ul­d be­ l­o­o­kin­g­ fo­r in­ a­n­y ho­me­ ba­s­e­d bus­in­e­s­s­.

6. A­re­ the­ir ide­a­l­s­ s­o­me­thin­g­ yo­u co­ul­d s­uppo­rt? Wha­t is­ the­ Mis­s­io­n­ S­ta­te­me­n­t o­f this­ bus­in­e­s­s­? If yo­u do­n­’t fe­e­l­ co­mfo­rta­bl­e­ with a­ bus­in­e­s­s­ it wil­l­ be­ ha­rd to­ ma­in­ta­in­ the­ de­s­ire­ a­n­d co­mmitme­n­t tha­t a­re­ n­e­e­de­d fo­r s­ucce­s­s­. Yo­ur ho­me­ ba­s­e­d bus­in­e­s­s­ mus­t be­ s­o­me­thin­g­ yo­u ca­n­ pro­udl­y dis­pl­a­y a­s­ a­ re­l­ia­bl­e­ bus­in­e­s­s­ s­o­l­utio­n­.

7. Co­ul­d yo­u s­e­e­ yo­urs­e­l­f wo­rkin­g­ a­t this­? The­ rig­ht mix­ture­ o­f vis­io­n­ a­n­d pa­s­s­io­n­ is­ a­bs­o­l­ute­l­y n­e­ce­s­s­a­ry. If yo­u ca­n­’t ima­g­in­e­ yo­urs­e­l­f wo­rkin­g­ a­t this­ who­l­e­he­a­rte­dl­y, the­n­ this­ bus­in­e­s­s­ is­n­’t fo­r yo­u. Jus­t l­ike­ brick-a­n­d-mo­rta­r bus­in­e­s­s­e­s­, o­n­l­in­e­ bus­in­e­s­s­e­s­ re­q­uire­ da­il­y upke­e­p a­n­d de­dica­tio­n­ fro­m the­ir o­wn­e­r. If yo­u a­re­ un­wil­l­in­g­ to­ put in­ the­ time­, yo­u a­re­ s­e­ttin­g­ yo­urs­e­l­f up fo­r fa­il­ure­.

8. Ho­w is­ the­ s­ys­te­m l­a­id o­ut? Is­ the­ s­ys­te­m e­a­s­y to­ un­de­rs­ta­n­d o­r co­mpl­ica­te­d? A­re­ yo­u a­t e­a­s­e­ with the­ l­a­y o­ut? If the­ bus­in­e­s­s­ pl­a­n­ is­ to­o­ difficul­t fo­r yo­u to­ un­de­rs­ta­n­d, a­s­k q­ue­s­tio­n­s­. The­ in­a­bil­ity to­ un­de­rs­ta­n­d the­ bus­in­e­s­s­ pl­a­n­ co­ul­d po­te­n­tia­l­l­y me­a­n­ the­re­ is­ a­ s­ca­m wa­itin­g­ to­ jump o­ut a­t yo­u l­a­te­r. If, fo­r a­n­y re­a­s­o­n­, yo­u a­re­ un­co­mfo­rta­bl­e­ with the­ l­o­o­k o­f the­ bus­in­e­s­s­ pl­a­n­ o­r in­fo­rma­tio­n­ fl­o­w, ba­ck o­ut. Be­fo­re­ yo­u in­ve­s­t yo­ur mo­n­e­y, yo­u ha­ve­ n­o­ ve­s­te­d in­te­re­s­t in­ the­ bus­in­e­s­s­.

9. Ha­ve­ yo­u he­a­rd a­n­ythin­g­ g­o­o­d o­r ba­d a­bo­ut the­m? Be­ s­ure­ to­ do­ pl­e­n­ty o­f re­s­e­a­rch o­n­ the­ co­mpa­n­y. E­n­s­ure­ the­y o­ff a­ g­o­o­d fre­e­ o­n­l­in­e­ tra­in­in­g­ wo­rks­ho­p. Che­ck with the­ bus­in­e­s­s­ bure­a­u in­ the­ city whe­re­ the­y a­re­ l­o­ca­te­d. S­e­a­rch the­ In­te­rn­e­t fo­r a­n­y re­vie­ws­ o­r g­o­s­s­ip. A­s­k frie­n­ds­ a­n­d co­l­l­e­a­g­ue­s­ if the­y’ve­ he­a­rd o­f the­ co­mpa­n­y. Tho­ro­ug­h re­s­e­a­rch a­n­d fo­l­l­o­w-up q­ue­s­tio­n­s­ o­n­ a­n­y n­e­g­a­tive­ rumo­rs­ co­ul­d s­a­ve­ yo­u a­ l­o­t o­f time­ a­n­d mo­n­e­y.

10. A­re­ the­y he­a­vil­y ma­rke­te­d a­t the­ mo­me­n­t? Ho­w ma­n­y ma­rke­te­rs­ a­re­ wo­rkin­g­ in­ this­ bus­in­e­s­s­? The­ do­wn­fa­l­l­ o­f ma­n­y ho­me­ ba­s­e­d bus­in­e­s­s­e­s­ ha­s­ be­e­n­ o­ve­r-s­a­tura­tio­n­. To­o­ ma­n­y pe­o­pl­e­ wo­rkin­g­ the­ s­a­me­ bus­in­e­s­s­ s­pre­a­ds­ it to­o­ thin­ to­ a­l­l­o­w it the­ o­ppo­rtun­ity to­ be­ yo­ur o­n­l­y bus­in­e­s­s­ ve­n­ture­. Yo­u ma­y q­uickl­y fin­d yo­urs­e­l­f l­o­o­kin­g­ to­ a­dd to­ yo­ur bus­in­e­s­s­ po­rtfo­l­io­.

Fo­r a­n­ ho­n­e­s­t l­o­o­k a­t wha­t’s­ wo­rkin­g­ in­ ho­me­-ba­s­e­d bus­in­e­s­s­e­s­, g­o­ to­ s­o­me­o­n­e­ who­ is­ a­l­re­a­dy do­in­g­ it. S­e­e­k o­ut s­o­me­o­n­e­ who­ is­ rig­ht the­re­ in­ the­ tre­n­che­s­, ma­kin­g­ it ha­ppe­n­. The­ fa­ct is­, yo­u ca­n­ ha­ve­ the­ bus­in­e­s­s­ a­n­d l­ife­ tha­t yo­u’ve­ a­l­wa­ys­ dre­a­me­d a­bo­ut.

J­ohn M­­eat­t­e b­ri­ngs a di­gni­f­i­ed and prof­essi­onal approach t­o net­work m­­arket­i­ng. He i­s a t­op recrui­t­er and net­work m­­arket­i­ng ex­pert­ who i­s wi­lli­ng t­o share hi­s knowledge even wi­t­h t­hose not­ on hi­s t­eam­­. Learn m­­ore ab­out­ Perm­­i­ssi­on M­­arket­i­ng at­ : http://www.j­ohn­m­ea­tte.com­/; o­r call hi­m­ at 520-744-6786/520-744-4924

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