Home business' in todays market

In earlier posts I wrote about trends and how the movement of money from one sector to another changes the financial landscape and profitability for people. People who are educated and understand how to read trends typically fare far better financially than those who are not.

Every industry has it's ups and downs. As our economy goes through its transitions, different business models with different value propositions have different results. One that I'm very familiar with is the construction industry.

Starting around 2002, major business magazines started ranking Boise as a hot spot to live and do business. Inc.com, Forbes, Money, ranked Boise in the top ten for consecutive years. Folks who were looking for a more relaxed, outdoorsy type of lifestyle, loaded up their truck and they moved to Boise. Idaho that is! And they had an investor under each arm. And I don't blame them. Many of our new Idahoans left high priced, overpopulated areas, bringing some serious equity with them. Many of the clients I worked for paid cash for their residence and bought recreation property to boot. By making the move to Boise they moved lightyears ahead financially.

My small business boomed. I couldn't keep up with the work. People had expendable cash and they treated themselves and their homes to makeovers. Construction across the board was a booming industry. It was easy to throw your dog and some tools in the back of your truck and be in business, AND make money. Not so much today. Many folks who broke into their own small business' are now selling their equipment, honing their resume's and considering going back to school to get a 'good job.'

Another sector that grows and peaks in times of economic downturn is the home based business industry. Most people look at all their options when they have to pull in their belt and starting and operating a business from home appeals to alot of people. Having had moderate success in the home business arena in the past, my number is on many peoples list as a guy to call. My phone has been ringing off the hook lately with people on the other end inviting me to check out their latest and greatest product and company. Juices, electricity, phone service. Weight loss, wellness, travel. You name it, I've heard about it.

Many of these companies and products are great. No doubt about it. I buy these products for me and my family because typically, not always, they are super high quality and work. They have to be for the product to sell.

It's understandable that home business' and MLM companies do well in times like these. People are looking for other ways of making money and it sound like it's a pretty easy way to make money. The challenge most people run into once the ether wears off from their initial exposure to a business is that it is a business! They have no concept of what it takes to run one. I truly believe that people convince themselves and others that if they just sign an application that their mail box will soon be filled with checks. Doesn't work that way. Nothing does, (unless you're a trust fund kid), and that's not what this blog is about.

The reality of a profitable network marketing company is that it takes people to make money. It took 30,000 people to make 500k in 6 months in my most financially successful network marketing company. Break that down and it's approximately sixteen bucks a person to generate that kind of a check. Of course, 50k a week is a pretty big check. Few people know what kind of effort went into building that organization. I was an overnight success in most peoples eyes. Not the case.

I had worked for several YEARS building a team in a nutrition company and when that company failed, timing was perfect and I moved all those people into the new business model. Years. What took 6 months to earn in the new company took 4 years of seminars, books, breakdowns and breakthroughs. Meetings, circles, conference calls, 3-way calls. Warm leads, cold leads, scripts. I learned how to be a network marketer. My checks were over 150k per month.

Sound like work? It is. But what about 4-8 years of college. Books, classes, tests. Tuition and time lost working. To enter a work place that produces financial independence of only 5% at age 65.

My mistake was getting sucked into the excitement of a start up company (only 2 in 5000 make it) and it went bust. I learned from it and won't make that mistake ever, ever, ever, did I say ever?.......again.

That's not to say that it all wasn't worth it because it was. I learned more about people, business and myself during those years than I ever would have doing anything else. It was priceless. What I found is that there are alot of ways to make passive/residual income without having to spend every spare minute creating it. The better and more knowledgable you get in the networking industry the easier it gets = less time spent. It is about quality of life isn't it. Of course it is. Get educated.

Fortunately technology has made it much easier to work from home. One major aspect is you actually can work from home today. Years ago I got sold on 'working from home' only to find that what they really meant was working from other peoples homes. I'd pack up my vitamins, white board and easel and go 'share the dream' in living rooms and dens all over town and across the country. I'd get home from work, kick off the work boots and dirty jeans, put on my JC Penny special blue sport coat (gold buttons) and red tie and go create me some sussess.... Aint it great!

Home based business' come in all shapes and sizes. If you believe you would like to work from home and have what it takes to make it work then you should go for it. There are good companies out there and without a doubt, what one man can do, another man can do. Just don't get blinded by the sales pitch. Do your due-diligence. Understand what it takes to make it. And once you've made up your mind, commit! At least a year.

All companies are not created equal. Find one that leverages systems and time to your advantage and pays well enough for time spent for each sale. It takes as much time, paper and ink to do a million dollar deal as it does to do a hundred dollar deal. Your time is valuable. Expand your thinking. Find a company with an outstanding value proposition. This in itself will do most of the selling for you. And most importantly remember that we are ALL salesmen. We sell ourselves everyday. Mortgage brokers, realtors, business owners. Insurance and car salesman. Employees asking for a deserved raise in pay. The resume's written. The speeding ticket we hope to talk our way out of. It's all sales. Even a baby sells itself when it cries for food and attention.

We are all connected and the world is getting smaller by the second. Take care of yourself. Treat each other with respect. And work on a 'we go' mindset rather than an 'ego' mindset. Hang out with inspiring people and be a contribution to the relationships. Figure out what your passionate about, choose something that fits and get started. When would NOW be a good time to change your life!

Start today.