The 5 Secrets to a Successful Home Business

Perhaps you've considered starting a home business. Just the thought of working from the comfort of your own home has a certain appeal. No more alarm clocks, no more schedules, no more rush hour traffic, and most importantly, no more supervisors or bosses.

The real question is not why start a home business, but how to start a home-based business, and more importantly, how to start a successful home business. The fact of the matter is that there is no shortage of opportunities on or off the internet, but which opportunity is right and which one will be lucrative and long lasting. After all, if we were going to work hard and build a lucrative income from home, wouldn't it be great if we could literally retire from that income. In fact, the right opportunity can even be willed to your children and grandchildren when you pass on.

So, is there really a simple guideline, or plan that can help in finding the right opportunity for you?

The answer is yes, and it can really be boiled down to five simple principles, or five secrets to a successful home business.

The first secret to starting a successful home business is actually the company that is providing the product and opportunity. Always look for a strong, long-term company with a proven track record. I recommend a company that has been in business for at least 5 to 10 years. Avoid ground floor or pre-launch companies. It's true that a ground floor opportunity can be a hidden gold mine, but 9 out of 10 of these ground floor opportunities will be gone within the first two years. Why spend your valuable time building a business that may dissolve within a year or two simply because you chose a business with no track record. Don't risk your financial future on speculation. Find a proven company.

The second secret, once you've found a solid company, is to evaluate their products. Would you use the product even if there were no income opportunity attached? If not, then you need to move on. The product should also be consumable. You want your customers to reorder the product month after month. That is what will create a long-term residual income. Selling DVD's and CD's may be a great business, but an opportunity providing nutritional supplements and health care products that people need on a monthly basis will provide a more consistent, long-term income because of the nature of the consumable product.

The third secret to a successful home business is the pay plan. How much, and how often will the company pay you. Make sure you understand the companies pay plan before you put any effort into that opportunity. After all, would you go to work for someone without agreeing upon the pay or salary? Of course not, yet most people get involved in a home business with absolutely no clue as to how, when, and why they get paid. Remember, if the pay plan is so confusing that your sponsor or upline can't even explain it to you, then that may be a red flag. It doesn't have to be complicated to be lucrative. In fact, many of the highest paying opportunities are often the easiest to understand and explain.

The forth secret to starting a successful home business is the system. Does your company have a system in place to support, train, and help you succeed, or do they simply hand you a stack of flyers, tapes, and cd's and send you on your way? The system is perhaps one of the most critical elements to your success. Always look for a company that has a strong system in place that helps new members, consistent weekly training, and a source of prospects that are looking for what you have to offer. Remember, if you're asked to make a list of your family and friends before you get started, you may want to reconsider. There's no need to hassle your family and friends when there are literally thousands of people out there that are looking for exactly what you have to offer. You simply need a system that will find these people for you. And the right opportunity will already have this in place.

Finally, the fifth secret to a successful home based business is YOU! That's right, the bottom line is that your success will ultimately rest on your shoulders. Take the time to organize your business, plan your work, and then work your plan, and most importantly believe in yourself and your business. If you have doubts, they will come through as you speak to prospects and clients. Remember, people are attracted to those who present themselves with authority and leadership. You must believe before you can achieve.

The truth is that these five secrets are really not secrets at all. It's really common sense, however, it seems that for many of us, common sense goes right out the window when we start seeing the dollar signs that are thrown at us by a smooth talking presenter. Simply keep these five elements in mind as you start your new business and you'll be well on your way to financial success.