Steps
- Start some continuous learning from a Mentor in the industry. The mentor will keep you up to date with whats happening in the Home Based Business Industry and guide you through the scams.
- Scan the Business opportunity website for any vocabulary that says the opportunity is "easy" or "we do the work for you".
- Look for any outrageous claims and use your common sense as to whether they can back up their claims.
- Ask the company for the names of successful people who have made money out of the opportunity.
- Look at the compensation plan and work out how much you could earn in your first six months of business.
- Read the fine print and see if there are any hidden costs associated with the opportunity.
- If you have been keeping up your contact with a mentor even it it's just through a blog, ask your mentor to evaluate it for you and see what he/she thinks. (This is the safest step because they will be able to give you sound advice with no hidden motives.) Plus you can piggy-back off their knowledge and experience.
Tips
- The best way to start to get in touch with a mentor in the industry is to ask question on his or her blog. (A good blog to follow is listed in the sources and Citations section.)
- The hard thing is finding a good blog that offers unbiased business advice.
- If the company can provide names then you should talk to these people and see what they say.
Warnings
- If the opportunity requires you to buy an exhaustive amount of product at a very high price then you are looking at a pyramid scheme of some sort.
- If the compensation plan offers a large amount of compensation for recruiting other people then you have found yourself a scam.
- If the company focuses on only recruiting more people then you have found a scam.
- Be wary of choosing a Business Mentor who is in the same opportunity as you or one you are about to join because he is bound to give you corrupt business advice.
- Any website that says a business opportunity is easy is lying.
Sources and Citations
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