Many people now-a-day are regarding Multi Level Marketing (or MLM) as a scam. However, others are thinking that it is a great home based business opportunity. Many people say that the MLM companies always tell lie and skim out profit by making fool out of us.Are these allegations baseless? Would you like starting a home based business on MLM? Is MLM at all a home based business opportunity?Let us discuss on these points to clear the air.The first point is that there are many scam companies out there in the MLM market. It is very easy to start a scam company and this is the sole reason that so many Multi Level Marketing companies have shut down. There are still many scammers roaming in the MLM industry and they are so cunning that it becomes almost impossible to identify them.Thus, it is always advisable to perform proper research on a particular company before opting it as your Multi Level Marketing company. However, now-a-day it has become very easy to identify those scam MLM companies because you can find so many reviews about the company in the search engines. If you perform a search in a reputed search engine (say, Google or Bing) with a particular name of a Multi Level Marketing company then there are high chances of getting authentic reviews about that company. If you find anything negative written about them then don’t opt the service of that company. However, this should be borne in mind that there are numerous fake reviews posted in various sites. These fake reviews are generally written by the rival companies of the MLM company. Hence, it depends on the customer to make proper discretion, before going for Multi Level Marketing.The picture is not at all gloomy. There are many such companies who are legitimate and perform business ethically. These ethical companies have created their own niche in the market and consequently have become global in scope as well as reach. The greatest part of these highly reputed MLM companies is that they have made many people rich. Many others are leading a comfortable life by doing Multi Level Marketing through these reputed and global companies.Now, the obvious question that crops up in our mind is: Are all people who participate in MLM become rich / succeed? The answer is quite obvious and that is ‘No’. People who are skeptical about this industry always point out that most of the people don’t succeed in this and only a few people become rich. This phenomenon is very natural. Let me ask you one question: Does every single person in this world become successful in business? The answer is ‘No’. MLM is also an industry where everyone doesn’t become successful. Hard working people having great marketing and convincing skills succeed in this home based business opportunity.However, let me emphasize here that the success ratio of people involved in Multi Level Marketing is much higher than those in other industry. Thus, we can definitely regard this business as a viable home based business opportunity and starting a home based business on MLM is not at all a problem.
A Guide on Successful Product Creation and Internet Marketing
Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.
The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.
It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!
With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.
With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.
Starting a Home Based Business – Checklist – Part 2
Now that you have picked your area to focus on and build a business around, let’s continue with the practicalities of owning and operating your home-based business.Business Insurance
Depending on the type of business you decided to start, there may be different type of insurance you will need. Find out exactly what that is, shop around for good prices and a reputable insurance company and make sure you are covered.Business Computer
It’s best to get a separate computer for your business, especially if you have a family. This way you will be able to deduct 100% of your computer costs without having to keep track of the time it is used for business vs. personal use. Also, as smart as you kids may be, you still don’t want them anywhere near your business accounting records.Hire a Babysitter
If you have children and plan to start a home-based business in order to stay at home with them, think again. Also, if your wife is working and you are trying to save money on daycare by having the Dad work from home and watch the kids at the same time, I warn you in advance.First of all, this is not in the best interest of your children. Work is and should be very consuming and someone whose attention is (hopefully) fully focused on the job at hand is simply not in a position to give adequate attention to kids and supervise them properly.Conversely, someone who is busy with the children will not be doing a good job with a customer on the phone, or performing any other business-related task. Your mind has to be a 100% on the business, otherwise you might as well call it a hobby.One of the things home-based businesses have to pay particular attention to is a professional image. There is nothing more damaging to that then hearing a child crying in the background as a customer, a vendor or any of your professional contacts is trying to have a business conversation with you.Set up Boundaries
Another challenge some home-based business owners face are constant interruptions from family members. If you don’t find a way to eliminate this, you may have to rent an office. The only way to successfully work from your home-based office is if you really manage to make it an “office” and not your living room, kitchen or a den.You will need large blocks of time where no personal interruptions should come into play at all. Just think of yourself as a boss of an employee who is constantly on his or her cell phone having personal conversations. It is the same thing. The time you spend working on your business needs to be dedicated to business and not watered down by constant intrusions of your personal life.The same goes for your private time. Guard it just as you do your working time. This is the other side of the home-based business equation – some people never stop working and their families forget what they look like. Decide how much you need or want to work and then be done. Rejoin the human race, have fun with your kids, take them to a movie, go for a walk, have a nice life. You don’t have to answer every call that comes in after 7 PM. Imagine you are simply not there. Pretend you’ve closed the office for the night…Keeping these two spheres of your life separate and yet both properly attended to will go a long way in ensuring that your home-based business will be a success.