For many people, starting a home family business is a sure way to lose money. It seems like only the most dedicated seem to find something that works for their family, and it’s usually only after spending lot’s of time and money on businesses that don’t work out. By Arming yourself with this information you don’t have to be one of those that has to learn the hard way.
It’s always wiser to learn from other’s people mistakes, then it is to waste your time and money learning the ropes. I’ve also failed at several business ventures that I started, but then I found the right opportunity for my family. I also found a great mentor that helped me learn the ropes. It’s their secrets that I learned that I will be sharing with you below.
Businesses that Make You Money have the following…
- Must have Patented Proprietary Products/Services.
- Must have Consumable Products/Services.
- Must be in an Industry that’s Exploding.
- Must have a product that People Develop and Emotional Connection to.
Here’s Why these are important.
1) Patented proprietary products make it so that you’re not selling something that everyone else has. So if you’re company is selling cell phones, you’re competing with everyone else out there in the same industry. It’s probably not a good choice, because as soon as Walmart decides to sell cell phone’s, they are going to be able to do it cheaper then you. Your business can literally be wiped out in 1 day like that. Just because Walmart can sell that phone for $2 cheaper than you. The same is true of both products or services. Avoid opportunities with ‘Me to’ kinds of products or services.
2) Consumable products are important because you want to get repeat sales. Let’s look at the everlasting-gob-stopper (the gum in Willie Wanka that never wears down or looses it’s taste). If you sold those, you could literally run out of people to market your product to. However, If you had gum that only lasted for a little while, then you would develop repeat business. This is a critical concept. You want your customers buying your product/service over and over again. It will make you a fortune.
3) You want an industry that’s exploding. Even a below average marketer can sell a hot dog to a starving man. It’s a “no brainer”. Pick an exploding industry like the Wellness Industry that is predicted to be the next Trillion Dollar Industry. It’s like selling picks and shovels to people in the Gold Rush… You’re gonna make a fortune.
4) Have products that people are passionate about and your customers will actually market your products for you. Think about what happens with people who are having problems with a serious health challenge. If they get results with a serious health challenge, and it was because your product made the difference… they are going to tell the world. So make sure, you’re selling something that really affects people positively. You may even find you’ve made the world a better place, while your making your own life better. What could be better?
If you will apply these factors to your search for a business, then you could potentially save thousands of dollars and valuable years of effort.
Best wishes to you!
Joe Shaw is a home business consultant and Family Business Coach at http://www.familybusinesstips.com He and his team of coaches help families find the home business opportunity that’s right for them.
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