I am desperate to find a way to start my own home based business, and affiliate marketing seems good because there is virtually no startup cost (I'm broke). Is this something likely to bring in a real income?
I don't know anyone who is affiliated in affiliated marketing. So I can't really answer that. but I do know, that you wouldn't be owning your own business unless you invest money into it. By means of a start up cost, or buying products yourself and re selling them, advertisement or something along those lines. Owning a business is not free. I wrote some things down that might help you to see for yourself if this is a good business to get involved in, using my business as an example. If on the list it checks out (you may have to do some research) but if it all checks out, then you can chose to do it. IF it's a business, don't just try it. You need to devote time and effort into it and build it. If your going to just try a business, you will most likely fail! So here's a few things that you should take a look at before getting involved in any company.
1. How long have they been in business? We checked to see how long our company was around, at the time it was nine years old and now it's 15. Do you know when they started? If it's under 5 years, then their is a risk factor
2. Are they registered with the BBB. Ours is registered. I think this is important one.
3. Who's involved with the company? Like in ours Donald Trump, Robert Kiyosaki has endorsed our company. Many actors and actresses, business owners, government officials etc use our products. Check to see if anyone has endorsed this company. Also, meet with the co-founders. We've personally met our co-founders and found from our first meeting that they were incredible people with incredible visions. See if their's a time where you can meet them. If your going to be doing business, there should be a time where you should have the chance to meet with them.
4. What is the compensation plan now, and what was it like before.
See the history of the comp plan and see if increases and never decreases in it's history. We checked with the records in our business and found that in over the years, the compensation plan had only gotten better each year. As long as we've been involved, we've now witnessed the compensation plan always increasing. Check the history on yours.
5.Have they been featured in magazine's? For instance our company has been featured in several magazines Like Success, Fortune, USA Today etc. Check to see if they have. You can get a lot of information on the company by reading about them.
6. Has Inc 500 rated them? This magazine or slit rated our company the 22nd fastest growing company in revenue in it's first 5 years. Inc 500 shows the top 500 businesses in revenue growth. Check to see what Inc 500 rated the company your looking at.
7. Do they have a physical address that you can go to? Check for an address not just a P.O. Box
8. Where are their headquarters? Our world headquarters is in Farmington Hills Michigan, Personally been there, (If your here in the states) Other headquarters in different countries. and US headquarters in Charlotte.
9. What does the start up cost take care of? If there is no start up cost, what will you have to be dishing out and for what? In my business headquarters takes care of all the billing for my customers, Inventory, Customer services, Order Entry, Employees, workman's comp, Cross referencing, Licensing, Insurance, paperwork, accounts payables, accounts receivables etc.
10. What is the product and service you would be selling.
Is the product and service in high demand? For instance we offer services that people are already using every day and paying for anyway, but at a lower cost. Things like Local and Long distance telephone services, Internet, video phones, digital phones, cellular phones through all the major cellular providers. We make a percentage every single month they pay their bills. Everyone uses them and everyone pays for them. When money gets tight, would they keep your service or be able to run to the store and be able to purchase them on sale? Leaving you to have to wait until they run out of what they just purchased, or wait until their finances get settled? This is what I mean by high demand.
So many different things to check out in making sure a business is a good one to get involved in. If the business feels right to you, and all questions are answered and you feel good about it, then I'd say jump in. Running a business is different then a job though. You have to treat it like it's your child and not just something your going to "try" you have to believe in the product and service and go at it full force. This is your future your talking about, no one else's.
I hope my examples of what we looking into with our business helps you be able to find the same answers in the business your looking into. Forget about asking the common question and asking someone how much they make in their business to determine if you'd get involved in this or not. In a business, it doesn't matter what one business is making over another. It only matters what you do in "YOUR" business. I hate it when people ask me how much I make. Because they're not going to walk into and start up their business making what I make. I've been involved with my business for over six years. So yeah, I will make more. If you tell someone how much you make, then it's a psychological thing that they expect to make that amount in a week, and that is just not going to happen. Six years of building a business verses 1 day. So don't even ask. Look at the possibilities for YOURSELF.
If you have any further questions or need help,feel free to contact me at firstname.lastname@example.org