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Can you find a legitimate home business opportunity during the recession?

Written by: Andrea Scott

Article Overview: Home business expert, Andrea Scott, shares questions to ask yourself to determine if you have found a legitimate home business opportunity.

Can you find a legitimate home business opportunity during the recession?

So many people are concerned about the recession. The unemployment rate in the states is the highest it has been in 25 years. Millions of workers have lost their jobs as companies cut back on staff to reduce costs. You may be considering starting a business to prepare for a possible job loss. This is a wise decision because job security is a myth. Mention job security to the 216,600 American workers who were laid off in August. It's become apparent that the only security you have is the security that which you create for yourself. Starting a business is an excellent way to do that.

Now that you've decided to start a business, you need to decide if the business will be a home-based business. If you decide to check out home business opportunities, there are some points to consider. Is it a product that you will use? You cannot successfully market a product that you don't use.

Do your due diligence on the company, check out the company's credibility and the owners' credibility. Is this a company that you would be proud to represent? Does the company market online? All successful businesses market online these days. If the company markets online, check out the website. Google the website and note what comes up.

Also what is the commission structure? How many income streams can be generated from marketing the products? Some companies generate up to 9 income streams from the initial marketing effort. Does the company provide a website for you? Do they show you how to create a website? What is the company's back office like?

What quality of training is provided for the distributors? Some companies use both webinars and training calls. What level of ongoing support is provided for distributors besides the ongoing training? Is there any coaching available for the distributor?

This may seem like a lot of questions. However, as you ask more questions you gain valuable information to evaluate the business opportunies you are considering. As you conduct your research, focus on the vision that you are creating with your business. Be very clear on why you are building a business. Your "why" will motivate you to create a profitable online business.

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Article Tags: business opportunies, commission structure, company markets, credibility, due diligence, google, home based business, home business opportunities, how to create a website, income streams, initial marketing, job security, jobs, myth, ongoing support, ongoing training, recession, unemployment rate, webinars, wise decision
Referred by: http://jaykubassek.com



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When does a trend become a legitimate business opportunity? - When does a trend become a legitimate business opportunity? For instance, Krispy Kreme doughnuts was hot for a bit and then fizzled out. So how much time has to pass by or sales numbers do you need to see before you feel the need to also jump in and try to capitalize on a trend that has become mainstream?
surviving an economic crisis - I'm moving to Idaho then I'm building a bunker and stockpiling 2 years worth of supplies. I'm buying a fishing rod, a hunting rifle and bunch of chickens to produce eggs... I like chickens because they don't care about recessions or depressions. OK... that may be Plan C - let's hope it doesn't get to that. So far, our business is doing well, we often target affluent markets and from our experience in the early 90's recession this worked well. BUT - what we're seeing this time around is not a simple recession. I think it could get bumpy. What type of businesses thrive in an economic downturn?
How can I start home-based business? - I am not sure what you mean by home-based and how my story can help but my home-based business is my web design business. I can work from home and go out to meet my clients. These times (When I'm out) is the most 'dangerous', because if clients need some files or if something didn't get through email, I'll need to find the nearest internet hot spot (i bring my external hard drive everywhere) to service the client or come up with an excuse. initially it was difficult, working from home and starting up. work was scarce but I knew it was only in the beginning. after 5 months, I have quite a constant flow of work but still the cheques are not that regular but its getting there. I met other people who has started home-based business and they range from travel agents to company secretaries. hope that helps
The Hidden Hand Effecting Your Bottom Line - If you are based outside the U.S and run an online business, you'll probably receive a lot of your payments in U.S dollars. When the recession hit I saw a lot of non-U.S business people boasting how they [u:20bfadx5]hadn't been effected by the recession[/u:20bfadx5], brushing off the recession as something that was not important. But they [u:20bfadx5]overlooked the hidden hand[/u:20bfadx5] effecting their profits. The currency markets which for non-U.S businesses paid in U.S dollars has masked the effect of the recession somewhat, and has an incredible effect on your overall profits. Looking at my profits over the past several months I can see fluctuations up and down. I may have a hard time attributing what is causing these fluctuations if I believed the recession didn't effect me because overall my earnings and traffic are up. But then I compare to the U.S - ££ exchange rate, and notice a [u:20bfadx5]strong correlation[/u:20bfadx5] with my profits. When the dollar is strong my profits are higher, and when it is weak they are weaker. It didn't account for all fluctuations but the effect was very strong. I know most people are aware that exchange rates effect their business, but I don't think people realize how strongly it's effects can be, and how closely related to the economy this is. So to say "the recession didn't effect me" because your profits went up can be [u:20bfadx5]very wrong[/u:20bfadx5]. The hidden hand of exchange rates could have improved your profits, and the exchange rates changed due to changes in the economy, i.e the recession. The recession has caused this fluctuation in exchange rate as people fled from the stock market into cash, and with the $$ being the biggest currency in the world, more people fled into the dollar, pushing up its value against other currencies. When the stock market bounced in March and people moved back into stocks and other investments, the dollar weakened. In addition I did see a overall drop in advertiser spend which wasn't just attributed to the dollar weakening after March. I attribute this to advertisers cutting back their budget in response to the economy, but given a change in mood and outlook in recent months this is now reversing and advertiser income is up despite a weaker dollar. So the recession has played a bigger role in my business than at first glance, so just because profits are up does not mean my business is not being thrown around by external economic factors. For this reason I've studied the economy, made a prediction on what is most likely to happen based on trusted sources with the strongest track record, and made a plan for that eventuality, and then also plans for less likely scenarios, so that my business can prosper in either situation. Instead of overlooking this hidden hand it is important to recognize it is there, and not accept it as a mystical force your business is a slave to, but something you can react to and plan for in order to take your business further.
Re: Welcome New Moderators in Addition to Our Fine Team! - Hello everyone, and Thanks for the introduction Ringo! This is going to be a great experience for me and for everyone in the community. I hope to learn a lot from you and I know there is something I can share with all of you. Past, Present, Future. Before I started my own business I worked in the north Canadian oilfields drilling for natural gas. I worked long hard hours and spent a month at a time away from home. It's when I started to burn out that I realized that there is more to it than wasting my life, secluded away from civilization and the people I cared for most. A friend of mine introduced me to a business opportunity which not only offered me the chance to fire my boss and walk away from a less than perfect lifestyle but it gave me the chance to make an income that was more than sufficient to support me and my fiance. I pounced on the opportunity like a cat on a mouse. Since then I have been working from home helping others break away from their "less than perfect situation" by mentoring them in the ways of marketing. I will continue on this path teaching, helping and coaching until I'm to old to use a computer. I feel honored to have this opportunity to share and grow with the community. I look forward to talking to you all. Dallas.


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