And the Number One Home Based Business Pitfall Is....

Are you searching for the perfect home-based business? I'm actually in the process of writing an ebook teaching people how to find hte perfect home business for success. Here's what I realized: no home business is perfect.

I think some people go out in search of the "perfect" homebased business and then get disappointed when they can't find it. That's like looking for the perfect man or the perfect woman: they simply don't exist.

Instead of looking for the perfect man, the perfect woman, or the perfect business, you SHOULD be looking for...

the perfect MATCH.

Here's an excerpt I wrote today (sure, I;m going to charge for the e-book but I think my loyal readers deserve a free sneak-peek):

Enjoy! (and scroll to the end for your question of the day)

It’s important to remember not to throw the baby out with the bath. In other words, don’t completely disregard a business opportunity just because it may have a flaw or two. Just uncover the flaw, determine whether or not you can live with it and whether you can be profitable and morally comfortable in spite of it, and then go for it!

Here are some of the types of “imperfections” you may come across while evaluating a business opportunity that should not be overlooked:

+ The product is illegal
+ The company’s practices are illegal
+ A class action suit against the company is pending
+ You have a moral objection to the product
+ You have a moral objection to the company’s practices or ethical standards
+ The product does not work, is a placebo or a sham
+ The product is not safe and could actually harm people through use
+ Your intuition or “gut” is telling you to stay away

If you discover any of the above while hunting for a business opportunity, a red flag should be raised in your mind immediately. Beware!

On the other hand, the following “imperfections” may or may not be objectionable, depending on your own circumstances and preferences:

+ It’s expensive to get started. Do you have capital or can you get it? If not, how serious are you about owning your own business? Maybe you are better suited in a job.

+ The product you’d be selling is one that you don’t particularly want to use. Can you sell a product that you haven’t personally used? Some people can, some can’t—it’s entirely a matter of preference. Can a woman sell after-shave? Absolutely.

+ The product works for some people, but didn’t work for you. Are you skeptical that it works at all? You’re probably better off NOT trying to market a product if you don’t believe it works at all.

+ You don’t like the product. But can you see value in the product? I never was particularly fond of perfume, but I found it easy to sell because so many women loved it and saw the value in it.

+ The company offers no refund or a limited refund (this may or may not be important to you and your potential customers, depending on the product)

+ It’s hard work (Whether or not you have an aversion to hard work depends on your personal work ethic. However, it is generally true that hard work is involved at least in the beginning of a new enterprise.)

+ You don’t presently have the skills required (How good is the training program? How quickly do you learn new skills? How willing are you to learn new skills in order to be successful? Would learning these skills benefit you in other areas of your life, or in other potential careers?)

+ It’s time-consuming. Most businesses require a lot of time during the initial start-up phase. In Chapter 4 we will make a list of your resources and determine how much time you can devote to a new endeavor.

+ You’re unsure whether to proceed. This is where Due Diligence (see Chapter 6) comes in handy.

+ The market is too competitive/saturated. Can you find a unique selling proposition? What are the successful people in the company doing and how are they consistently generating sales?

In contrast, the following so-called “imperfections” are often illusions and should generally be completely disregarded:

+ Someone tells you that starting a business is risky and you should stick with a job. Don’t let someone else—who is probably in a job—steal your dream of self-employment and personal freedom. Live your own life!

+ Someone tells you that their friend/neighbor/cousin/etc tried that business and it didn’t work. Don’t let one person’s experience dictate your own. You are unique and you will have unique experiences. Live your own life!

+ Typos in their advertisements or website. Typos are part of life. Unless the business is advertising or typesetting or copywriting, typos are to be expected. Perfection is not a requirement for life (unless you are a neurosurgeon, maybe.)

+ Extensive disclaimers. Let’s face it, we live in a litigious society. Legal-ese is just part of our daily existence. Don’t rule out a potential business opportunity just because they have a lot of disclaimers. That probably just means they have a lot of lawyers and they plan on being in business for a long time.

+ The initial information does not include projected startup costs. Savvy marketers know that it’s the opportunity, not the price, that sells. Therefore, many will not include startup costs or operating expense projections in the initial information they send you. Don’t make your initial decision based on price—you can always find a way to procure the money if the opportunity is right for you. Therefore, there is no need to ask cost-based questions from the get-go. Get the information on the business first, ask educated questions and when you have gained a general understanding of the program, if you think it sounds like a good match, go ahead and ask how much you can expect to put into the business initially and on an ongoing basis.

+ Sounds too good to be true. Many people dismiss a business before receiving any tangible information, simply because they remember the old adage “if it sounds too good to be true, it usually is.” Keep in mind that this could be one of those times when it really is so good to be true, and do you really want to miss out without finding out all you can about the opportunity?

+ The company name. I have seen many people dismiss a viable, lucrative business as soon as they hear the name. Believe it or not, many people continue to earn a substantial income through Amway, Avon, Mary Kay, Tupperware, McDonald’s franchises, and many others. Unless you truly know what a particular business opportunity has to offer, don’t be so quick to dismiss what could be your perfect match.

In the next few chapters, we’ll explore your motivation for searching out your perfect business, what you want to accomplish, and what resources are available to you.

Stay tuned for more great infomration!

And here is your question of the day:

What is your idea of the perfect home-based business?