Home Business opportunity – Can you make money?

This is part of a 7 step business opportunity assessment checklist I have developed to assess home business opportunities which can also be applied to other business opportunities. 

The fifth step is to understand the money making model and whether it is going to reward you well for your efforts:

To understand if you are going to make money in the businesses, you need to understand the financial model.  Robert Koyasaki’s famous book “rich dad. Poor dad” is great book to read if you are new to these concepts.

It involves a paradigm shift for most people as we have been trained since day to exchange our time for money.  We get paid “by the hour” .  What this means is if you want to increase your income you have to either earn more $ per hours or work more hours.  Is it any wonder with this model why many people work long hours.  It is the only lever to pull for many people.

Worse than this is that when you stop working, you stop earning and start going backwards.  Help!!  Welcome to the crazy prison we have created for most people. 

And in the whole it doesn’t work too well.  The % of people who are broke when they retire is astonishing.  The amount of time people can last if they lost their job is frankly scary.  People are working longer hours until they are much older and stress is rampant.  We have no time for ourselves, friends, family and social mechanisms are falling apart
Not real crash hot.

The way to escape this if to have mechanisms in place that create income INDEPENDENT of your physical time, otherwise known as PASSIVE OR RESIDUAL INCOME.  If you can repeat this in a duplicable way then you have the ability to create LEVERAGE.

So you need to look at the following:

• The business model
• How you get paid
• Evidence and stats that support the fact that people are making money
• Support of the model from credible business experts
• Proof that there is an effective lead generation process
• Proof that there is an effective lead conversion process
• Proof that the process is duplicable
• Proof that the process generates residual and passive income streams

So, once you have definitive proof that the business vehicle allows people to achieve life changing income.  The next question is can YOU achieve life changing income?

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Home Business Opportunity – Can you make money?

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Related posts:

1. Assessing a home business opportunity – Step 1 – The market
2. Assessing a home business opportunity – Step 2 – The products
3. Assessing a home business opportunity – Step 4 – Company Integrity and Solidity
4. Assessing a home business opportunity – Step 6 – Support and Systems
5. Assessing a home business opportunity – Step 7 – Low capital and low risk?