“Home-based Business Pitfalls They Don't Want You To Know About.”
By Brian McMullen
Pitfall #1 Start Up Companies
95% of start up companies go out of business within the first 5 years. There has been many people over the years that feel that the only way they can make a home-based network marketing business work is if they get in on the "ground floor" or beginning. When you look at this logic, you can then see why some many entrepreneurs fail when trying to start a home business in this industry. You see if 95% of start up companies fail within the first 5 years, and every 11 seconds someone joins a home based business. Then you see that choosing the right vehicle is 95% of the battle. Let me give you an example, if I were to give you a bottle of 100 white pills, each of the pills looked the same, and I were to tell you that I want you to take 1 of the pills and put it in your mouth and let it dissolve. Now if you picked 1 of the 5 lucky pills that has a red center, I will give you 1 million dollars, but if you pick 1 of the 95 pills with a black center you will die within 24 hours. Almost everyone would agree that this would not be a good thing to do. Well, that is the same with your home based business. If you have joined a start up company, I'm not saying it will definitely go out of business, but I am saying, why risk you Families future on something that has a 95% chance of failure. Choose right now to align your self with a company that has made it through the first 5 years, and even better the first 10 years of business. Our goal is to build a walk a way six figure income that will be around for 20, 30 or 40+ years.
Pitfall #2 Non Consumable Products, Service Companies i.e. Insurance, Travel, Telephone and Internet Services
I see so many people get sucked in by travel programs, insurance deals, and Internet services. If it’s not a product you put IN your body or ON your body that will create an emotional attachment, a product that people will take for 20 or 30 years, then how do you expect to build an income that will last long after we have left this planet. There is no real emotional attachment to a telephone rate or a travel rate, because when something comes out that is a better service and is cheaper, then your people that you've worked hard to get end up leaving.
Pitfall #3 High Ticket Items
What can I say about this other than we are not in the business of trying to make some big commission off people, if you want to do that, then walk down to your car dealership and sell cars. We are into building long term relationships with people who buy our products every month and teach others to do
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the same. The problem with high ticket items (items that cost a lot i.e. $1000, $2000, $5000+ start up cost). These are usually illegal and called gifting programs, the ones that are not illegal are just down right unethical.
Pitfall #4 No Real System to Build a Business
More people fail from the lack of a system, than from choosing the wrong company. You must have something that anyone can duplicate, and it must be effective long term over time.
Pitfall #5 Not Investing In Your Business
You must be doing something everyday for your Business, you must treat it like a business. You must be talking to people everyday, whether that be people you know, people that your friends know, or buying leads, or any other advertising/marketing. It does take time and money to build a business. In the beginning you do a lot you don't get paid for, but later you get paid ALOT for stuff you don't have to do. In conclusion, I wish to see you on the pathway to success. I wish for you to not fall into these pitfall traps as so many of my close friends over the years have got sidetracked and fell into one of these 5 pitfall traps and ended up broke back at a job that they don't enjoy. I have made millions in the home business industry by treating these rules like home business commandments to live by.
See you at the top,
Brian McMullen
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