Home-Based Business – What’s Holding YOU Back?

Let’s just cut to the chase here. F-E-A-R. The number one reason you haven’t already taken the leap into your own business, Internet or otherwise. There are so many things to worry about, right? Do you have enough money, do you have the time to get started, what will your family think, what will your friends say, do you really have what it takes and, of course, what if you FAIL?

So, why is it that it’s easier to worry about the possible negatives, but difficult to really envision the potential success? What if you concentrated, not on worry, but on excitement and inspiration? Let’s step through some ideas here:

1. Do you have enough money? Why not change that to “I don’t need a lot of money to get started.” The Internet abounds with opportunities that cost little or nothing to get started. You absolutely must do your due diligence to find the ones that are real. I’m in a business that has an entry-level of $395. That’s less than the cost of your laptop or your fancy new telephone. It’s just a question of investing in yourself, or buying more things.

2. Do you have the time? How much time do you spend watching TV each day? Or playing video games? Or going to movies or out to the clubs at night? If you aren’t willing to curtail some of your play time in order to create a real life for yourself, then being a home-based entrepreneur is probably not for you. Everyone has the same amount of time. We each choose how to spend it. Creating a home-based business is more entertaining than TV.

3. What will your family think? This is one of the hardest to get past, isn’t it? You want to start an online business, but you are afraid your family will think you’ve been scammed out of your life savings and there is no way you are going to make a living doing THAT! Families aren’t always your best supporters. Get over it. When you are successfully operating your business from home, guess who will be the first at your door asking for help?

4. What will your friends say? Take a lesson from #3 above. But also, its easy to feel embarrassed in front of your friends. You don’t want to feel foolish. You don’t want to be duped. So, go back to #1 where is says “do your due diligence.” Once you have done that, get on with it! You are not being scammed, you are creating wealth that your friends will come to love.

5. What if you don’t have what it takes? All kinds of people succeed brilliantly in this life. They are not cut out of the same mold. They are short, tall, fat, slim, different races, different nationalities, difference religions, different educations, different families, different finances, different skill sets. What is it about you that is so unique that you could not succeed? Trust me on this. If I can do it, you can do it. The key in that sentence is “do.” If you are willing to take action on your dream of a home-based business and willing to keep at it and do whatever it takes, then you definitely do have what it takes.

6. What if you fail? How about, what if you never try? Which would you like to look back upon later in life? Don’t get into the rut of always playing it safe. Risk something to gain something. Be smart about it, but take the risk. Life is about living, not about sitting on the sidelines. Please jump back to #5 where it talks about keeping at it and doing whatever it takes for just a moment. If you can commit to those two ideas — keeping at it and doing whatever it takes — your chances of success are very high.

If you are still wondering what is holding you back, truthfully, it is just you. Each of these six “fears” is just you talking yourself out of leaving your comfort zone and doing something outrageous, courageous and exciting! You may just keep plodding along, accepting the paycheck each week, and wishing for something different. But my hope and wish for you is that you make a decision to start that home-based business you’ve been considering. Nothing changes until you make a move, and there really is nothing holding you back — except you.

Company Registration For New Businesses

So you have finally taken the plunge and decided to implement that innovative business idea you had years ago… This is a big step and will often prove to be a very financially and emotionally rewarding decision. However, you need to take care of all the important details so you can ensure the success of your company. Company registration includes many different aspects which we’re going to discuss. Although the actual requirements and details may vary from state to state, province to province or by country, many of the important tasks remain the same.

o Determine Your Company Structure

Before you register your business, you need to decide which type of business works best for your company. You can choose to operate as a sole trader which refers to an individual who operates on his/her own. A partnership involves an association of individuals or entities that conduct business together, but are not considered a company. A trust is a lesser-known option that refers to an entity that holds income or property for the benefit of others. Last but not least, is the term company that denotes a legal entity that is separate from its shareholders.

There are advantages and disadvantages to each type of business. Therefore, you should obtain as much information as possible by obtaining manuals, conducting online searches, discussing options with other professionals in your industry and contacting local business agencies. Many countries have organizations that are specifically designed to provide support to new or small businesses. They can assist you by providing valuable advice and contact information. These organizations will help you ensure you are taking care of all the important registration details.

o Register Your Company Name

Registering your new company involves several steps. First, you need to decide on an appropriate name for your business and then register it with the appropriate local authorities. Depending on the country in which you live, you should be able to conduct an online search for available company names. You may require special approval to include certain words in your company name, and you can only choose a name that is not already registered by another company.

o Register Your Company Trademark

As soon as you have registered the name, you should consider registering a company trademark. This is an identifying sign that distinguishes the products and services your company offers from those provided by your competitors. A trademark can consist of a wide variety of elements such as names, logos, pictures, numbers, and more recently, scents, sounds, tastes, smells and moving images.

We recommend you register a trademark for your company, rather than just a company name. The reason is that a trademark offers you more rights and legal options if someone else tries to use your company name. Unfortunately, many new business owners mistakenly assume that registering a business name, domain name or company name will give them propriety rights.

You will retain exclusive rights to your company trademark. This will ensure that no other companies are either already using the name or will use it without your authorized permission in the future. If you plan to do business in more than one country, you will have to register your company trademark in each relevant country. If you have any questions regarding registering a trademark, you should discuss them with a professional trademark attorney, lawyer or accountant.

o Register Your Domain Name

Once you have either designed and created your site or hired a professional to do so, you need to register your domain name. This is the actual online address, also known as an URL, which will provide you with an online identity. Visitors type in this particular address to locate your website. Anyone can register a domain name. However, only commercial entities can obtain a domain name that ends in “.com” or “.net.” You normally pay an annual registration fee that will give you rights to that particular address or domain name for one year.

Nowadays, it’s very important that you have a professional company website. Prospective customers and clients often want to find out more about your particular business by visiting your site. If you don’t have one, you may lose credibility. Company websites are also very effective marketing tools that enable you to attract a larger customer base and provide current information about your company. Registering a domain name also enables you to retain the same address, even if you end up changing your web host.

If you’re starting a new business, take some time to determine what business structure makes the most sense. You should also spend the time and money required to register your company name, trademark and domain name. These are all worthwhile investments that will protect your business, enhance your credibility and enhance your visibility. Then you can focus your time and energy on making your business a success!

What is MLM Or Multilevel Marketing Business?

Multilevel Marketing Business, also known as Network Marketing is a business model that allows a central multi-level marketing company to promote and sell products directly to customers through referrals and direct selling. It is an innovative way of distributing and selling products since it renders its services through a succession of independent distributors, rather than going to conventional retail outlets. The central corporation provides a line of products which are marketed through members of a network.

Distributors of a Multilevel Marketing Business develop their company either by establishing an active consumer base, which buys products directly from the central company or by recruiting independent distributors called downlines, which in turn builds their customer base and expands the whole organization. Distributors can also earn by retailing the products purchased from the head company at wholesale price.

How an MLM works

Distributors have 2 basic jobs which makes a Multilevel Marketing Business work. It is their job to promote and sell the company’s products and services and, to recruit more distributors to sell the company’s products and services. Each recruit a distributor absorbs in the organization are in turn, encouraged to bring their own recruits. This results to a development of a ladder substructure known as downline which resembles an organization chart in a company with a lot of employees.

Every distributor may earn through sales commissions of their direct product sales. They can also earn their commissions based on the sales of their downlines. Some Multilevel Marketing Businesses also provide bonuses if a distributor reach certain sales levels or quota. Since every distributor profits not only from their own sales, but also from the sales made by their downlines, it is to the advantage of the distributor to train and guide those under them for an MLM to succeed.

Varieties of Compensation Plans

A compensation plan is a mechanism in which a distributor gets paid. Compensation plans presents the volume of sales, numbers of dowlines, and bonus packages a distributor needs to achieve in order to receive their commissions. An example is the unilevel plan, which is considered to be the most simple compensation plan which pays commissions based on the number of levels a recipient is from the original representative who is purchasing the product. Another example is the binary plan which allows distributors to have only two frontline distributors, if the distributor recruits more than two distributors the excess are placed at levels below the sponsoring distributor’s frontline. There are also hybrid plans which combine one or two elements of a basic compensation plan.

Some compensation plans are designed to pay a high percentage of bonus money for personal sales and on commissions for group sales in the first few levels. Others are devised to pay more in the deeper levels or bonuses are spread out evenly across all levels of the plan. Regardless of the type of plan, it is important to remember that one can earn not solely on the compensation plan, the product and your marketing effort is the key. Good products, at a fair market price are what drives any compensation plan.

Multilevel Marketing Businesses have a lot to offer to their distributors. The main reason people becomes involved in MLM is because of its flexibility. Distributors can either work part-time at home, promote their products over the internet, set in their own hour of convenience. Another reason for its appeal is that it enables distributors to start their own business without investing large amounts of money.