Top 9 Items To Look For In A Legitimate Home Based Business

The vast majority of my posts to date have offered tips on how create home business success.  But what if you are someone who wants to start a home based business?  How do you go about finding a legitimate home based business in a sea of scams?  And not only a legitimate home based business, but a successful home based business.  What do you look for?

Accomplished author, Robert Allen, has devised a method for assisting individuals looking for a home business.  He calls it the M.O.N.E.Y.T.R.E.E.  I have a video of his presentation in the Home Business Videos link at the very top of the page.  But I’ll provide a synopsis of what he discusses here.

  1. ‘M’ stands for Multiple Streams Of Income.  This means that the business must create multiple ways, or streams, of generating income.
  2. ‘O’ stands for Outstanding Product.  This is just what it says.  The company must have a product, or products, which are at the top of their industry.  If you don’t have a good product to market, your odds of success are not as good.
  3. ‘N’ stands for No or Little Money Down.  You don’t want to break-the-bank getting into a home business.  So you need to look for something that does not require a large investment.
  4. ‘E’ stands for Employee Resistant.  One of the main purposes of starting a home business is the ability to work for yourself.  You don’t want to get into a home business which requires a lot of employees, if any at all.
  5. ‘Y’ stands for Yield.  Here, you’re looking for a business which not only has opportunity, but also the potential to make a lot of money.
  6. ‘T’ stands for Trend.  This simply means, you want to be involved in an industry which is trending up.  For instance, you probably don’t want to get involved with selling Beanie Babies right now…that trend has passed.  With Baby-Boomers hitting retirement age, the next big trend is health.
  7. ‘R’ stands for Residual Income.  The business you select should be able to offer you residual income.  Meaning, as you put in the effort and grow your business, your business begins to make money for you even when you are NOT actively working it.  An example would be the author of a book.  Significant time is put into actually writing the book.  But once it is published, the author is making money even though they are not actively working on the book.  If you can make money while you sleep, you have found a Residual Income Business.
  8. ‘E’ stands for Essential Products.  These are products people want and need every day.  This serves two purposes:  first, it creates repeat business.  If you are selling bowling balls, generally a customer might only purchase one every couple of years.  Or even in a lifetime.  However, if it is something they use every day, they will continue coming back.  Second, it makes your business recession proof.  If your product is something people can do without, then odds are you will lose that business during an economic downturn.
  9. ‘E’ stands for Enthusiastic.  “Choose a job you love, and you will never have to work a single day in your life” ~ Confucius.  I think that sums it up pretty well.

So when you are looking for, or evaluating, a home based business just keep these points in mind.  By following this method, the odds of finding a successful home business will increase.  And the result will be something you love.

Scott Huff is a professional network marketer and experienced in personal branding.  He is involved in a home based business which fulfills all the points of Robert Allen’s M.O.N.E.Y.T.R.E.E method.  To see how, you can watch our video web tour and decide for yourself.

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