Before starting any home-based business it’s imperative to ask yourself a few key questions.
The questions have to do with three main areas of business – the business type itself, the products themselves and the services offered. For this article, the home-based business will focus on eco-friendly health and wellness products although most of the questions will equally apply to any product sector.
In terms of the business itself, you may have already decided, after researching the vast amount of data online about home-based businesses, that this is what you really want. Home-based businesses are viable but do require planning and work.
In terms of the products themselves, you may have stumbled across or been told about some amazing new product or discovery or you may have been a user for many years. In either case, you want to share all this ‘good news’ with as many others as possible.
In terms of the services offered, you may be in a position to offer home-delivery, no-question, money-back guarantees or even be the money collector for the supplier.
Let’s look at the first area – the BUSINESS itself. Here are some must-ask questions.
Will I be able to…
- Earn residual income as well as make the money up-front?
- Be my own boss or CEO? Maybe this is important because you have always worked for someone else and have never been boss. Be careful here – being boss means doing ‘bosses’ kind of work.
- Do the work from home? This may be the most important thing because of physical circumstances, transportation limitations and more.
- Get sufficient business training when I need it?
- Avoid direct selling because I am not a salesperson! That is, will I be using warm and/or cold marketing techniques?
- Earn the income while genuinely helping others? This may or may not be important to you. Do you want to just provide products or do you genuinely want to help people improve their health, wellness, lifestyle or whatever by these products?
Will I have to…
- Lay out a lot of ‘start up’ money? How much and when in the start-up process?
- Carry inventory? Do I have space and do I want to keep boxes of product in my home?
- Offer personal satisfaction guarantees? For example, will I be offering the return policy or will the manufacturer be offering the robust return policy?
- Purchase the products for my customers and then have to deliver them’?
- Be involved in the money exchange?
Now, let’s look at some PRODUCT questions.
Will the product(s) that I am involved with…
- Provide a healthier home, body, skin, nutrition etc
- Be environmentally ‘friendly’?
- Be safe to use for adults, children and even pets?
- Use scientifically tested and verified ingredients?
- Have a proven track record?
Lastly, I want to look at the area of SERVICES. If you are putting yourself out there as an expert and the CEO of your own, established and creditable business, you should ask yourself the following questions.
Will I or should I be offering…
- Membership Protection (if there is a continual membership required) such as auto re-ordering?
- Online ordering?
- Door to door delivery?
- Strong product support from the manufacturer or his representatives?
- Strong team support if this is a type of business structure that involves up-links and down-links?
It seems like a lot to think about, but I assure you that these are all important questions to ask no matter what business area you are contemplating.
I have personally found in the eco safe health and wellness products arena, that these are critical questions to ask yourself. And, it is important that you be satisfied with the answers before heading into the world of home-based business.
Slow down, take some time and ask these tough questions. You will be the better off for it.