12 Factors for Success in a Home-Based Business

Millions of people start daily business from home.

Many promote services other products, others both.

Many join other established companies to “Ground Floor Opportunities”, all look for something in common:

Achieve financial freedom and have time to spend with your family or to do the activities that interest you most.
The reality is that most people do not have success and give up shortly after they have started.

Let’s analyze what are the real causes that can determine between being successful or failing.
There are 3 important elements to analyze:

a – The company.
b- The Products or Services.
c- The human factor. ( US )

Sometimes we have the best company, the best products but nevertheless success is not achieved.

Let’s analyze the 2 First points.

12 Factors for Success in a Business from Home:

1- History of the company.

Most companies fail in the first 5 years.
How many years in the market does the company you are evaluating?

If  do not have more than 10 years of success, do not take the risk.
The false myth of “Ground Floor Opportunity”, do not listen when they tell you that it is the perfect moment because the company is starting and those who start first
They are the ones who will achieve success without much effort. That is a big lie.

2- Financial Stability

Investigate before getting involved. It is something that will pass the test of time.
Is it a private or public company?
The public companies respond in the first instance to the interests of the
investors
Is a company loaded with debts?
Analyze this point, this determines to a great extent the stability of your business.

With what regularity the company makes commission payments. Is trustworthy ? Have you gotten behind in these payments on some occasion? What is the cause ?

3- Experience of the Administration.

How experienced are your executives managing corporations before, how successful have they been?

If it’s a Network Marketing or MLM company, ask yourself:
Do the owners of the business program participate, are they part of the structure of the compensation plan?
Most companies know that they have a very small chance to earn their millions and start something new. A large part of the companies take advantage of their customers or distributors and take desciones for the benefit
staff of those who run it and do not take into account their people who work in the field.

Make sure that the company’s directors come from recognized corporations in the United States.
The directors of the company are based on solid principles and objectives, have real goals that are not exaggerated and invest in pursuit of them. ?

4- The Products are Exclusive of the company and are of massive consumption by 100% of the people?

The products create new habits in the consumers or are products to which they are already accustomed and are needed daily?

Preferably they must be superior and more secure products, patented and protected by trade secrets that prevent others from manufacturing them.

They must be products that people use every day, without having to create new needs.

In other words, people are already spending money on products of this type, so the business concept should revolve around redirecting expenses and not creating new ones.
expenses.

In other words, this is the only way to create a business that generates a constant and growing income based on residual income and not one-time or linear income.

Remember Real Residual Income is the greatest benefit of a network business, but in 99% of companies there is no durable residual.

5- Prices of the Products

Are the prices competitive, reasonable?

Something that the common person can buy or are products for a limited market sector?
Products with prices similar or better than those that the client is used to are needed, only this way the client can see the benefit of being a customer and staying
As a customer for a long time, this guarantees the retention of customers.
Are the products manufactured by the company or subcontracted by other manufacturers?

Only if the company manufactures its own products can there be a quality control and a control over the levels of availability for the clients and not products in
El orden anterior

6- Purchase Repeat Index.

Analyze a very important factor, what is the percentage of customers who buy every month, how many stay true to the brand for years independently
if they receive commissions or not from the company.

In the vast majority of network marketing companies or network marketing people come by the income potential but seeing that they are not winning they decide
withdraw from the program.

Look for a company where people stay for the benefit of the product and not for the money they can earn.

7- Monthly Production Requirement.

What monthly volume should you personally move into products to qualify to receive the highest commissions?
If the monthly purchase requirement per customer is above what he can consume in his house then the vast majority will not be successful because he has to
go out to sell products and not everyone has that gift.

If the company has only one product or a small variety of products, there is a high probability that the house will be filled with the same product and this leads to the
reorder more product or cancellation without doubts.

8- Investment to Begin.

This is one of the most important points. How much do you have to invest to start?

Is it something that anyone can do or just a select group in the market?

If it is a network marketing business, the key to success lies in duplication, that is, something anyone can do, therefore the registration fee can not be
of more than 3% of their income should be something affordable accessible to the vast majority. Something that does not require buying inventory of products.

9- Percentage of Customer Retention.

In most of the companies, if the clients did not place orders, the promoters give up because logically they are not receiving compensation. The question is, do customers really exist?

It is not about bringing customers who cancel the following month, it is about bringing customers who stay for the products, prices and benefits they receive as customers of the brand.
Only then can you create a business that lasts for years regardless of whether there is a recession or not.

10- The Timely Moment.

Is the market saturated so much that we have to go out and look for international expansion?

Is it a good time to promote these products? What will happen in 5 years,
It will be a good time yet?

This is a key factor in the success of any business.

11- Will you lose your Business Leaders?

Many companies use compensation plans where people are penalized by paying less commissions when a leader moves towards a position close to their
sponsor or enroller, rupture or breakaway plans.
Many companies use binary plans that go against the business principles because they stimulate to help those with the shortest leg, in others
words, to those who do not produce.

12- Are there Risks?

Does the company offer an unconditional guarantee policy of 100% money back when the client is not satisfied?
Do they charge a fee for a refund or restocking fee?
How complex is the guarantee process?
This must be simple and the client’s decision must always be respected.
No injured persons should leave because of a bad guarantee policy.

These 12 factors determine 90% success in a business from home.

There is the 80/20 rule, where of every 100 people only 20% can do it, if we find an opportunity that meets these 12 factors then this rule
it breaks and then and only then will the probity of Success be equal for all.

For more information or to issue your criteria on this article you can contact me through my website. 👇👇👇

Have you ever searched for a way to create a side income? 

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