In my previous article I discussed 25 reasons why starting a home business is a smart thing to do. But the question now is what kind of business? For those of you that are not familiar with what MLM is MLM stands for Multi Level Marketing.
One example of a MLM is the insurance business. An insurance agent opens an insurance agency and signs up people to buy insurance. Month after month people pay their insurance premiums and the agent makes a commission. That insurance agent can also recruit associates/other agents to sell insurance under that owner’s business name and make a small commission from the sale of his/her associates.
The problem here is that this is not typically a home based business as the owner of the insurance agency has to lease an office space and pay many different overhead expenses. This is where home based businesses offer many advantages over traditional brick and mortar businesses. This is one reason why home based businesses make up half of all businesses in this country. This is one reason why my Chiropractic Business and all my other businesses are home based.
As a Chiropractor I was always involved in companies which promoted vitamins or some other health related products. I also got involved with a company that sold telecommunication services and one that sold discount travel packages. I found myself getting lured by hyped marketing. Don’t let yourself get sucked in by slick marketers and their get rich quick plans.
So the first thing you need to do is find something that lights your fire, gives you passion. My main passion is helping people so anything health related that is a natural product is most appealing to me.
The next thing to look at is the company’s compensation plan. Some companies only pay to certain levels others pay to all levels of your business. There are many different compensation plans and I don’t want to confuse you explaining them all but I will tell you the best one is a binary compensation plan. The binary plan is the easiest to understand, manage and make serious money with.
You also need to look at the demand for the product. You can be very passionate about a company and or their product but if their product is not in high demand the profit potential is low. As an example personal consumable products that are used and consumed everyday like food, water, coffee, gasoline, electricity all have a huge profit potential.
My newest company GanoLife markets a coffee mushroom blend which has medicinal properties. The research that I did was very impressive. The Reishi mushroom has been shown to lower inflammation, blood pressure, blood sugar, shrink tumors and much more. It has been called the “Mushroom of Immortality”. It was once only reserved for Royalty because of its rarity and health benefits but now has been produced commercially for the common people to benefit from as well. So what better way to combine this prized mushroom extract with a beverage that is highly consumed!
The coffee business is a multi-billion dollar a year business. Coffee is the second most consumed beverage in the world and the second most traded commodity on the stock market next to petroleum. This product has a high consumption rate. People love and consume their coffee everyday making it a very profitable potential product.
The last thing I want to point out is to research the person who is inviting you or has introduced you to their product/company. Is that person going to be there to help educate and guide you? Are they in it for the long haul or are they out to make a quick buck and then move on to the next appealing opportunity that comes along?
In closing, MLM home based businesses can be FUN, PROFITABLE AND FULLFILL A LIFELONG DREAM! Most people are going to have work for the next 20-30-40 years…..why not work for yourself, set your own hours and reap the many benefits of a home based business!
Dr. Carlos M Gonzalez is a Chiropractor, Health/Life Coach, Author, Entrepreneur who loves helping people! He can be reached at 915-383 CARE (2273), on Facebook athttps://www.facebook.com/CarlosMGonzalezDC?ref=hl,https://www.facebook.com/DrCarlosMGonzalez?ref=tn_tnmn
One example of a MLM is the insurance business. An insurance agent opens an insurance agency and signs up people to buy insurance. Month after month people pay their insurance premiums and the agent makes a commission. That insurance agent can also recruit associates/other agents to sell insurance under that owner’s business name and make a small commission from the sale of his/her associates.
The problem here is that this is not typically a home based business as the owner of the insurance agency has to lease an office space and pay many different overhead expenses. This is where home based businesses offer many advantages over traditional brick and mortar businesses. This is one reason why home based businesses make up half of all businesses in this country. This is one reason why my Chiropractic Business and all my other businesses are home based.
As a Chiropractor I was always involved in companies which promoted vitamins or some other health related products. I also got involved with a company that sold telecommunication services and one that sold discount travel packages. I found myself getting lured by hyped marketing. Don’t let yourself get sucked in by slick marketers and their get rich quick plans.
So the first thing you need to do is find something that lights your fire, gives you passion. My main passion is helping people so anything health related that is a natural product is most appealing to me.
The next thing to look at is the company’s compensation plan. Some companies only pay to certain levels others pay to all levels of your business. There are many different compensation plans and I don’t want to confuse you explaining them all but I will tell you the best one is a binary compensation plan. The binary plan is the easiest to understand, manage and make serious money with.
You also need to look at the demand for the product. You can be very passionate about a company and or their product but if their product is not in high demand the profit potential is low. As an example personal consumable products that are used and consumed everyday like food, water, coffee, gasoline, electricity all have a huge profit potential.
My newest company GanoLife markets a coffee mushroom blend which has medicinal properties. The research that I did was very impressive. The Reishi mushroom has been shown to lower inflammation, blood pressure, blood sugar, shrink tumors and much more. It has been called the “Mushroom of Immortality”. It was once only reserved for Royalty because of its rarity and health benefits but now has been produced commercially for the common people to benefit from as well. So what better way to combine this prized mushroom extract with a beverage that is highly consumed!
The coffee business is a multi-billion dollar a year business. Coffee is the second most consumed beverage in the world and the second most traded commodity on the stock market next to petroleum. This product has a high consumption rate. People love and consume their coffee everyday making it a very profitable potential product.
The last thing I want to point out is to research the person who is inviting you or has introduced you to their product/company. Is that person going to be there to help educate and guide you? Are they in it for the long haul or are they out to make a quick buck and then move on to the next appealing opportunity that comes along?
In closing, MLM home based businesses can be FUN, PROFITABLE AND FULLFILL A LIFELONG DREAM! Most people are going to have work for the next 20-30-40 years…..why not work for yourself, set your own hours and reap the many benefits of a home based business!
Dr. Carlos M Gonzalez is a Chiropractor, Health/Life Coach, Author, Entrepreneur who loves helping people! He can be reached at 915-383 CARE (2273), on Facebook athttps://www.facebook.com/CarlosMGonzalezDC?ref=hl,https://www.facebook.com/DrCarlosMGonzalez?ref=tn_tnmn
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