How can you tell the difference between a money making home business and a scam or a gimmick? After all, the difference between a 'gimmick' and 'scam' might be legally different but when it comes to your money making home business' there really isn't much of a difference at all.
So before I reveal exactly how to uncover the truth about a real home based business, first let's define the difference between a home based business 'scam' and a simple home based business 'gimmick'.
Home Business ScamI define this as a business that's advertised to provide a reasonable to outrageous income stream but is really nothing but a complete ruse. This is a business that's really set up to be complete BS with absolutely no chance of anyone ever turning it into a money making home business.
Home Business GimmickThis type of business is usually real and can even be quite profitable' for a few folks anyhow' or for a short period of time. These gimmicks are prevalent on the internet today because the internet is still relatively new so the opportunity for making a fast buck are also prevalent. But is this really what you want as a long term money making home business?
So if you really want a true money making home business, you need to avoid the scams and gimmicks as one will rob you blind up front and the other will have you chasing every fad of the day' don't do either.
Instead, make the smart choice by looking for a real money making home business that you can build upon for years of profitable operation and also improve upon to increasingly grow your profits each and every month.
Now let's look at the rules of a real home business:
Rule #1 - Your business should sell something other than itself. In other words, if the business you buy does nothing other than tell you to turn around and sell the same business to others, you just bought a 'gimmick' at best.
Rule #2Avoid MLM (multi-level marketing) hell. While it's true that an MLM can provide immense leverage and wealth, they only provide this leverage for the first and the few folks through the door (usually the founders of the MLM). An MLM also violates Rule #1 as the only way to achieve this leverage is to recruit your friends and relatives into the same business so now you're selling the same business you just bought instead of selling the products of the MLM.
Here's a simple 'reality check'; were you buying the products the MLM promotes before buying the MLM business? If not, what makes you think others will buy these products from you?
Rule #3Look for longevity. Your odds of making money with your home based business are much better if you go with someone that has a track record of success. Think about it' would you rather buy a McDonalds franchise or 'Brand X Hamburgers'? While Brand X might provide greater upside 'potential', just as day trading can be more profitable than mutual funds, no one can argue that McDonalds is already a proven entity and more likely to succeed.
Rule #4Sell a product you understand and can easily describe to your friends. If you can't describe your product or service in 1 sentence then you really don't understand it and should never try to build a home based business around it.
Rule #5Your home based business should be well supported, by the company you purchased it from, with a rock solid infrastructure. Do they have a real support system? Can you reach them before and after you join? Are others in the business making money already?
Rule #6Plan on 'doing something'. While you won't have time to 'do everything' (see rule #5), never believe there's someone out there willing to pay you for 'doing nothing'. If you think you can build a business around replaying someone else's video to sell the same business you just bought to hundreds of others'just stop dead in your tracks and buy a lottery ticket instead. Your odds of success are much better.
Are there more rules? Sure' hundreds of them, but if you follow my 6 'Golden Rules', you'll be ahead of 98% of the 'sucker pack' and you will succeed. A money making home business is the easiest and best way to start a business, just make sure you follow my rules and avoid the pot holes on the internet highway. |
