Joined: 25 Jun 2003
|Posted: Thu Nov 02, 2006 2:19 am Post subject: Why Do Most Home Based Businesses Fail?
|Why Do Most Home Based Businesses Fail?
Each and every day there are thousands of people who start their own home based business and thousands more looking into starting a home based business. The problem is that the vast majority of home based businesses fail. It's a fact we all know. But why does it happen?
Well there are a number of reasons, beyond the scope of this article, why home businesses fail but one of the major reasons is because the aspiring entrepreneur fails to see that the business opportunity they joined was complete junk to begin with! Is this something that can be avoided? It certainly is! All it takes is learning how to spot scams and schemes, and find the good business opportunities.
Here are five of the main reasons why many home based businesses fail:
1) Unproven Opportunities.
The fact is that many of the home business opportunities are just too new. The market for the products and services is not well-established, the owners may not have enough experience, it may have incurred huge debt starting up, etc... There are about a thousand things that could be a problem with a new opportunity. For the most part opportunities that are brand new are too risky!
While it is possible that they may end up being the greatest opportunity in the world and you would have been well off if you got in early, the chances of that happening are slim and if you are just starting your home based business you are much better off going with a proven opportunity.
2) Same Old Crap.
Most of the home based business opportunities are the same old recycled plans and programs. Many opportunities claim to be completely new or "never before seen," but really aren't. Do a little research and you will find that there is nothing new about them at all. Sure they might have put a little twist on things but overall they are just the same as a million other programs out there. It's important is to find a home business opportunity that really is different and better than most others.
Many home based business opportunities rely heavily, or even entirely, on recruiting. So unless you are very well skilled at marketing or have a huge contact list the chances of success are greatly reduced. More often that not those considered to be "heavy hitters" or "super affiliates" are the only ones who make any real money because they are the ones who have all the connections. When choosing an opportunity of this type be sure that they have very good training and good information to help you with marketing.
4) Immoral and/or Illegal.
A significant amount of home based business opportunities are immoral or downright illegal. Obviously these opportunities should be avoided at all costs! Don't ever get involved in any opportunity that violates ethics and laws. Usually you can figure this out by doing a lot of research before joining. Also, if it just doesn't feel right then stay away.
5) Hype, Hype, Hype.
Many home business opportunities are pure hype with no "real" product or service behind them. There is no firm foundation for the company. When all the hype runs out, the opportunity collapses on itself.
Always be sure to figure out what the product or service is behind the opportunity, what kind of market this product or service has, and if it is possible to build a good income without all the hype. Never join a home business opportunity based purely on hype and no real product or service!
That's it! Five major reasons why many home based businesses fail. Be sure to find a legitimate home based business opportunity from the start. Taking the extra time to find out everything you can about an opportunity will greatly increase your chances of success!
But do remember one last thing... No opportunity is perfect in every way. Don't waste your life trying to find it because it doesn't exist! You just need to find a good, legitimate home business opportunity and stick with it.
About the author:
Trent Brownrigg has run a successful home based business for over three years. He is a full time internet marketer and online business coach. He recommends - http://honest-income-program.com - to anyone looking to make money at home. You can find his main home based business website at http://www.work-at-home-jobs-iowa.com