Gain business experience by starting your own businessAre you looking to own your own business or gain valuable business experience? Looking to escape the rat race? Or perhaps just looking for a new challenge? The great American dream is to own your own business, however getting started can be a challenge, particularly if you lack business knowledge and experience. With an unlimited number of opportunities it can also be a challenge to know what kind of business to pursue. What are the options? If you do not have your own product or service to start your own business, most people consider a franchise. In the past, franchises have proven to be a very lucrative business model and made many people millionaires. Unfortunately due to their successes, the value of franchising has been driven so high that today they are out of most people’s price range to start. A recent Gallup Survey (2007) indicated that on average the total start-up cost for a franchise business is $147,570 (US Dollars). At the cheaper end of the scale you would be looking at a lawn mowing business for about $20,000 and at the more expensive end, you would be looking at McDonalds for anywhere between $506,000 – $1.6 million depending on the location. After doing a little research, most people find that this option is far too expensive and justify their decision by saying that "I didn’t really want to be mowing lawns or flipping burgers for the rest of my life anyway" So what other business options are there? Have you ever thought about owning a home based business? It could be the answer your looking for. A home based business will allow you to gain invaluable business experience and business skills that you are looking for. Home based businesses are becoming more and more attractive as they allow you to spend more time with family and friends, offer the potential to earn a lucrative stream of income, help you to gain valuable business experience. All in return for a low financial risk. In particular, network marketing is one of the cheapest and fastest growing home based business opportunities worldwide and has one of the highest income generating potentials. In fact, you could get started in a network marketing business for as little as $50 (starter packs), or splash out and still not have to spend anymore then about $4000 for the top of the range professional packs. When you compare network marketing to franchises, network marketing offers a much lower financial risk opportunity that allows you to not only earn more money, but also gain valuable business experience. Network marketing will give you the opportunity to acquire some of the best business experience any type of business can offer. If you have the dream of developing your own product and service, then developing it into a multi-million dollar empire, you can benefit from the experience of network marketing. The education and training that I received as part of my initial investment was priceless. In return for a low investment I gained both the knowledge and experience required to run a business. In fact, soon after starting my first network marketing business I started a number of other unrelated business ventures, simply riding on the back of the training and knowledge that I received from joining the network marketing industry. If you are looking to start your own business, research suggests that the odds are against success, especially if you begin without substantial funding, management experience and a general understanding of cash flow. Statistics say that about 80% of small businesses fail within their first year. A further 15% will fail within 5 years. Out of the 5% remaining, very few will be around for another 5 years. This is not to discourage people from pursuing their dreams and starting their own business, but a smart entrepreneur would be willing to invest in a little bit of time and money to gain valuable business experience and knowledge. Network marketing in return for a low investment not only can teach you some of the most important skills required to develop a successful business, but can also help to fund your future business adventures. Worst case scenario is that you find out you don’t have what it takes to become a successful business owner. In this scenario wouldn’t it be nice to have only spent a few thousand dollars in network marketing as opposed to the $150 000 (average) you wasted on a franchise. The choice is yours; the business experience you will gain from either of these business models will definitely not go to waste as both business models can help you to acquire many lifelong skills. Some examples of the business experience you will gain from network marketing include:
All of these skills will give you a solid foundation and if you ever endeavour to start your own traditional business your experience in network marketing will be invaluable. One of the major benefits of starting a network marketing business is that you will learn how to market a product. In traditional business, many people make a major mistake in concentrating all their efforts into developing their own product or service and do not consider marketing. But let’s think about this for a second. If you have the best product or best service in the world and no one knows about it, how is anyone ever going to use your product or service? Essentially, how are you going to get paid for a product or service that nobody knows about? For the smart business person this is obvious, yet many people starting out continue to make the same mistakes over and over again. Not to be biased, but there are also many people that make the same mistakes in network marketing. However one of the main benefits in the network marketing industry is that although you are in business for yourself, you're not by yourself, meaning that there is a huge network of knowledge and business experience for you to draw upon and you can essentially learn from those around you. This business experience and knowledge can then be applied to any business adventure you pursue. Win-Win!
Benefits to operating a Home Based Business
|
