Choosing the right business…Part 1

Choosing the right business…
Part 1 “Choosing a direct sales business”

You are ready to launch into the journey of entrepreneurialism whether it is as an intentional or accidental entrepreneur, now what? How do you choose which business to start? There are so many options available for every person from cosmetics to insurance and beyond. The key is to research what is the best fit for you, what are you passionate about.

My suggestion to you is to create a pro and con list for each idea you have, explore both sides openly. There are businesses you can pay a couple of hundred dollars to start and have a full business plan ready for you or you can build one from your own ideas. Let’s explore some of the options available to you as a buy in business or direct sales business.

A direct sales business is easy to start and yet may be more challenging to generate an income that can sustain you and your family. The great part of a direct sales business is the structure is already established so you basically pay your start up fees and start running. Here are a few questions to ask yourself when considering a direct sales opportunity:

• How much is the start up costs and what do I get for the money?
• What kind of training and support do they offer you?
• Were they pushy to get you to sing up, promising you will make thousands
of dollars (if so run away)?
• Do you believe in the product you would be selling?
• How many other representatives are in your marketing area?
• What lifestyle (car, clothes, etc) does your recruiter have, most are not
really making the money they claim you can make?
• Are you willing to recruit team members for residual income?
• Is the product in demand today, does it meet a need?
• Do you have a passion for the products and do you use them?
• Do you have months of reserve money in the bank to sustain you while you
build your client lists?

These are a few good questions to ask before you jump into a direct sales business. There are some people that are really good at this type of business and others that are not a good fit to be a direct sales business owner. There are other sales businesses like real estate and insurance you may want to consider as well. These types of businesses require state licensing and in some cases the parent company will look at your credit and determine if you are a good candidate. For example, recently we found that Farmer’s Insurance will pull your credit and if you have any negative you will not be considered. We asked them why someone’s credit, especially today, would be such a factor. The response from an Inland Empire office was, “if you have poor credit you are not good enough to get the application approved.” My suggestion to you, do your homework and do not take anything personal!

Part 2 Start your own business from scratch.