This is a good tips in starting a business. hope this helps to everyone.

Great article, Ric!

Thank you Rick! This is great information of where and how to start a homebased business! I’m glad I stopped over! I’ll be able to refer people here!
~Linda

Thanks Outsourcing!

Thanks Julie, I’m glad you found it helpful. Starting a home business can save time and money if you concentrate on your niche target market. I never knew how important it was to find people looking for a certain solution for their concerns. Please do refer four friends here. I have a lot more info for business builders coming out.

Great Post Rick, Thank you for the great information and resource on starting a home based business.

Thanks Rich

Good info you give away as always.

I love to talk to you on Skype if we can some time
You have my skype name.

Regards
Theuns

Sure Theuns, I’ll look for you tomorrow evening…I have to see what time it is over there but sure thing. Talk soon.

Thanks Julie, I read your blog a few days ago. Great stuff.

Hey Rich

All would be home business owners should give this a read.

Too many times propel start a business that is really targeting just one person, themselves

Peter

Thanks Peter, you’re so right. It really is about other people and their needs.

Interesting view on finding your business. I agree that you need to find a market that is hungry, but I think there’s so many other very significant factors that without, could make your market research null and void. All the basics of evaluating companies ~ not just product market potential, but ownership, track record, team, training, systems, timing and compensation ~ cannot be ignored. I definitely appreciate you sharing this information on selecting niches where you can prosper with consistent and persistent action. Thanks Rick!

Thanks for the adding some more tips Beth. I appreciate your advice and know that is important too. But if we become the business instead of relying on a business to make money for us we’ll never have to worry if a business succeeds or not. But we can enjoy the products anyway. Product focused companies do better than companies that rely on enrollments. When people want the product they usually do the business which creates a solid customer base. I think having a good coaching program for your team is important also but I try not to go over 500 words. Too long for people to want to read but yea, thanks for adding me Beth.

Great advice Rick … finding your target market and connecting with them is key to success. Being quite new to Network Marketing, your advice is appreciated!!

Wendy

Rick,

I wish I had these tips when I first started. They really break down the best route to go. When my wife and I started, we had no idea and “got stuck” with a newbie that was clueless.

That is why it is important to follow the steps above. It is a win-win situation for you and your future upline. The prospect has a better chance of finding a product they like and a coach that is willing to duplicate their success model.

Have a great day,
Tommy D.
We were behind the pack and took us a while to catch up because our upline quit and really was feeding us BS for a very long time.

There are some great tips there Rick, I would add timing and positioning.
Be in front of market trends in stead of behind them.

We can agree there is no need to open a store that sells VHS tapes now. LOL

Thanks Tommy, glad you enjoyed the post. I had a hard time starting out too. Lost lots of money for sure. It’s pretty tough out there if you don’t have the right info to start out with.

Thanks for the tip Rob. Positioning is important too…Beth also talked about that. It sure could help if you can get ahead of the pack for keywords before other people grab them up.

Thanks Wendy, knowing a target market that is profitable is the most important thing to consider when starting out. To be successful you need to concentrate on being the business, not relying on a business. I guess you can say we have to learn how to promote any product or service we want now and in the future and it starts with our target market.

These are certainly the basics for startup. But as we all know, easier said than done. I have found the critical ingredient to be training from the right mentors, else a lot of time can be wasted, even leading to giving up.
Carolyn from TSA.

Alicia and Lisa are an example of great mentors. But so true Carolyn. We need real mentors that actually share exactly what they do without relying on all the fancy cars and expensive pools in the background. It takes time to find one that has the secrets and actually cares about you before themselves. Alicia Bausley and Lisa Hanfileti with Empowered Business Entrepreneurs are an example of mentors that are successful and take the time to work with you. They give away their entire video library and their Empowered Business Sales Conversion Formula with 9 action steps and over 80 pages of content. Once peo0ple check them out they get an instant abundance mindset. Google them of go to my profile and check out their stuff. It’s so important to find mentors that concentrate on money making activities that creates a solid customer base with retention. I found that we need good mentors to show us how to create our own success. Without it we surly will waste time and give up, that’s for sure. The only way to get that mindset is to find something that works. Glad you have found a mentor Carolyn. Thanks for your great tip.

Thanks Bill,
Learning how to listen was the hardest part for me. When we learn the listening skills is when the world opens up.

Great feedback Joanna,
Thanks for adding to the post!

Hi Rick,

I remember back when I wanted to start a home based business and did not know where to start.

I did my homework and have now been with the same company for 15 years.

Great post on encouraging people to do their due diligence.

Hi Rick,
Good tips there and I think those principles can be applied to starting any business venture. For me the company and products have to fit with my own core values. That’s non-negotiable. I also want to be a product or the product, whether it’s personal development or health and wellness, for example. I really wouldn’t want to be involved in anything I wasn’t prepared to use myself.
Once that’s established there are a plethora of things to consider and the point that was made about knowing what your customer looks like is a good one. This one point alone can save a lot of aimless thrashing around trying to find a foothold in a crowded marketplace.

Thanks for sharing this Rick, much appreciated.

Regards,
Andrew

Hi Rick
Great tips! The greatest thing anyone can remember when starting your own business is getting into your passion, what makes you tick because this will keep you going when challenges arise as they will. Have tips as you lay out is so helpful to any newbie.
Thanks,
Clare

Hi Rick!

It is great to be on your blog, getting to know you a little better. This is all excellent advice and advice that I could have used 10 months ago! I had to figure most of this out on my own and that has been time consuming and costly!

I especially like Tip #1, Find People that Need What You Have. There is no point chasing after the best product. Find a need and fill it. Again, I could have used this advice a long time ago! Your readers would do well to heed your advice!

Mentor Mama

Hey Rick, thanks for the post and the suggestions. Very helpful for anyone who’s looking to start a business online!

Rick

Great post, awesome points, I personally am a big believer in marketing training and systems. Here is why,

I believe , besides Marketers, the majority of people joining any home based business have no real understanding what it takes to get it of the ground. Even if the company itself provides some kind of training mostly offline training people join and people fail.

I think people should or must go through a training program/system first, learn everything there is about marketing. That alone can take months to accomplish.

During that time, those people will be exposed to all kinds of Marketers within communities or social networking sites. So that gives them the opportunity to really network with those who are already in a business and get the insider view of what each company is all about.

In our age we do everything online, a little offline. That is why I think it is vital for the individual to really learn first. We all know that there are 2 reasons why most people quit/fail,

1. Lead generation
2. Cashflow.

Overall stats; building a home based business takes at least 2-5 years for the average person. Most people will run out of money before that, because they ran out of people to talk to, and by then it really doesn’t matter what company they are with.

We, “The Marketers” should be aware of this, we as the professionals should really understand that yes finding the right opportunity is important, but for newcomers we need to be the guiding light and point them to the best training available.

If it means to not start with an opportunity right away than it would be okay. We would get so much more out of the person if we guide them through a process, so that in the end, they are ready to rock, join the business opportunity and be successful.

I hope I didn’t miss the target here by to much,

Thomas Lierzer

Great information here. Too many people run off to start a business without even doing research to see if there is a market for what they want to promote. I love the advice you gave about researching what ezines have to say about a certain market.

Thanks DeAnna, I appreciate that. Hope you’re having a great day.