7 Critical Steps You Should Take Before Investing in a Business

Are you considering starting an Online Business? Maybe you already have one. Is it everything you hoped it would be? Chances are it’s not.

With so many online opportunities available, such as network marketing and MLM companies, there’s a multitude of ways to make money. However, I believe more people lose money and more easily when it comes to these types of programs. Am I against them? Read on to find out.

If you have been trying to make a living online or just wanted to earn a little extra money, there’s a good chance, you’re failing. It sounds harsh, but it’s true. If you’re only beginning you’re probably in the, “I’m so excited” newbie stage and just don’t know any better yet. If you’ve invested in one of the thousands of opportunities out there and you’ve been working at it for more than a month or so, I’ll bet you’re in the “frustrated and asking yourself, ‘Is this really going to work’?” stage.

Don’t feel bad. You’re not alone. There is a 97% failure rate for people trying to make money online. I talk to people all the time who’ve spent thousands of dollars, and not made a dime. It’s very sad.

Why do you think this is? What is it about the Internet that makes people so willing to throw money at every opportunity that comes along? Why is it that only three percent people make real money?

I have a few different theories. To begin with, to most people running an online business is uncharted territory. “Any expert” can say “anything.” Many of these ‘experts’ claim to make money when in reality they’re not. Innocent people believe them, and join, only to find it was all hype! Worst of all, the person who signed them up doesn’t know any more about running an online business than they do.

The other big “issue” is the crazy assumption that people think they can become wealthy or make millions by investing in a “low start up cost” business. They think, “Oh well, its only $100 so if I lose it, it won’t be so bad.” If you go into a business with that attitude you will lose it. Most people I’ve talked to have invested small amounts in at least five or six different opportunities and never made a dime. Believe me, it adds up very quickly.

CASH is KING! Yes, I said it. You need cash flow to keep your business going. Don’t get me wrong. There are some great ways to market your business online for free. But, YOU NEED CASH FLOW! Without it, you’re dead in the water, or should I say, “dead on the web”?

Last but not least, Attitude is key! You have to go in knowing it will take hard work. There will be failures, and success doesn’t happen overnight. Interestingly enough, research shows that most people quit after three weeks.

The Internet is amazing. It has made the world a much smaller place and created many opportunities to create wealth, but come on people! It’s not magic! Treat your Internet business as you would a “real” business and you will find success.

The Keys To Online Success:

1) The right program or product. Do your homework on this one. Visit sites like MLM Watchdog. If there’s something negative on the business, it will be on Watch Dog. (I have no connection to Watch Dog in any way, nor am I a member).

2) Make sure it’s a product people want. If it was to sell at a store, would people buy it? Would you be proud to tell your friends and family about it? How long has the company been in business? Google the company and find out as much about them as you can. Check the Better Business Bureau too.

3) Who is your sponsor? Do you like them? Can you trust them? It’s hard to tell from just a phone call. Ask to speak to a few of their members and someone who is directly signed up under them. Try to get some form of proof of their success. Google their name. You’d be surprised at what you can discover. Remember, this is the person you’re counting on to help you succeed.

4) What kind of marketing system do they have in place? How do they get their leads? How much do you have to pay to get your own website? Will you have to make your site on your own or will they provide it? Do they provide training?

5) How do you get paid? What is the pay plan? Is there residual income?

6) How much more will it cost (in addition to the program itself) to stay in? Will you have to order products monthly or keep an inventory? How much will it cost to use their corporate website? Do they have customer service?

7) Finally, will you enjoy being a part of this program? Life is too short to do something you don’t enjoy.

The Internet is an incredible place to earn a living and I know that online network marketing is one of the best ways. It has changed the face of business forever. Never in history has there been so many people working from home running their own business. The thought of having a 15 second commute in your PJ’s is a pretty good one.

You “can” make a living online. Just make sure you do your due diligence and when you do find an online business, stick to it. If you have done your homework and it is a legitimate and honest business, you will succeed, as long as you just stick to it.

Making Money With a Cleanout Foreclosures Business

A cleanout foreclosures business is all the rage. But, is now a good time to start this very lucrative business? While it may seem scary to begin a business right now, it is actually a very good time for starting a business cleaning foreclosures. Start up costs are low and the profit potential is really high. The more you are able to do (and not subcontract out) the higher your profit potential.

While foreclosures are at an all time high, this makes it a really easy business to start. You might worry that there won’t be enough work to go around once the economy is better, but this just isn’t so. Not everyone in the foreclosure cleanup business sticks with it. They recognize the financial benefits, but are unwilling to do the work. You will be required to clean houses, empty the left behind items and make necessary repairs. To cleanout foreclosures can be hard and dirty work that everyone isn’t suited for.

Many people just aren’t willing to do it. With that being said, it isn’t uncommon to hire multiple crews to do jobs for you… foreclosure cleaning is a very scalable business. You can accept enough jobs that you can do alone or have multiple ones going, you decide. If you are willing to work hard and stick it out, you can have a cleanout foreclosures business up and running in no time at all. If you are persistent and hard working, this will be a long running business for you.

Starting an Online eBay Business

eBay has increased in popularity dramatically over the past few years. With millions of people searching the site every single day for discounted products, the potential to earn money on there is fantastic. It couldn’t be easier making a profit on eBay and that is why so many people are choosing to set up their own eBay business.

Finding the Best Products to Sell

If you are interested in starting your own eBay business the first step is to find out what to sell. In order to do this you should look on the site and see which products seem to be doing better than others. Is there more of a demand for DVD’s over clothing? Is there a certain games console that is currently selling really well?

While it is important to find a product that is currently selling well, what you also need to consider is that you want a product that will do well in the long term. It is pointless starting a business with a product that may decrease in popularity over the next few months. In order to avoid this it would be worth combining a number of different products in your business. Stick to selling various products within the industry instead of just one and that will give you the best possible chance of success. Typically, electrical items and clothing do tend to do quite. The health and beauty sections are also worth looking into, as there will always be a need for beauty products!

You can find products to sell by looking on wholesale websites. Be careful when trying to find a good wholesale list. Many websites charge a fee for access to their wholesale lists and while generally, you will have to pay a small fee you should not fall for extortionate fees. Try not to pay anything over a few dollars. Of course, there are some free wholesale lists available but they are a lot harder to find.

Starting your Business

Once you know which products you are going to sell and you have found a good wholesaler, the next step is to figure out how much stock you will need. Unless you know that the product is currently selling really well, you should only start off ordering small quantities of stock. So order the lowest amount possible from the wholesaler. Some wholesalers have minimum limits that you have to stick to but they are not always overly high.

When you are setting up your store, it is a fairly easy process. Simply log on to eBay.com and click on “stores”. You should find a link saying, “Open a Store” and from there you log in or sign up as a seller. Once you have a profile you can choose from three different store levels. These are:

o Basic Store – $15.95 each month
o Premium Store – $49.95 each month
o Anchor Store – $299.95 each month

Each comes with a different monthly fee and there are requirements that you have to meet to open them. A basic store would be the best one to opt for when you are first starting out. The other options come with more advanced tools to create better listings.

Overall, starting your own eBay business is fairly easy. If you take the time to research the best selling products then it will increase your chances of making better profits. The best thing about an eBay business is that anybody can open one and potentially make a good income by doing so.