Stock market vs.starting a business. To start a franchise or to have your own store is impossible for most people because it cost millions of dollars. Even a small business is very hard to start and staying in business is even harder. Unfortunately, 95% of the businesses will fail, sending the person into bankruptcy. Thanks to the internet, it’s more affordable to start a business. You can develop your own products and/or services to market, or you can find a company that you believe in and use their products and/or services. You will get a small % of what you sell, even Amazon and Walmart have a program for this. There are hundreds of home base businesses that use referral programs but most of them are not what they are crack up to be. So always do your own research and ask questions. Below are things that I learned over 30 years…
To the right is one company that uses network marketing.
These are some more important things that you should be looking for in any home base business. The more of these you find in a home base business, the easier it is to make a good residual income.
- Must be legal and ethical.
- The products and/or services should have competitive prices in the market.
- Should be something you already use and like.
- The business must be stable and secure.
- Debt free. Financially solid.
- Should not have any fees required to join or a large investment.
- Only requirement to get started is to become your own customer.
- The business must have a legal agreement that they will always do network marketing.
- Should not have any website fees for marketing or any other fees.
- Should have more than one product line.
- Full satisfaction money-back guarantee.
- Should not have to carry inventory.
- Should not have to take product orders.
- Should not have to pressure customers to purchase.
- Should not have to conduct selling parties.
- Should not have variable rates and promotional rates to entice people to switch.
- The older the company is, the better chance that it is legitimate.
- Accolades (awards) a company has received.
- Number of repeating customers should be very high.
- A compensation plan that is simple to understand and easy to build and must be fair to everyone.
More companies are starting to use word of mouth advertising so you really need to do your own research and ask questions. When you find one that you are comfortable with, go for it. The biggest differences between a home based business and a traditional business is the risk. Traditional businesses have a very high risk and network marketing businesses have basically no risk.
Some other websites entice you to put your name and email to get something for free. But what they are really doing is getting your email so they can sell it to other network marketing people. Or they want to sell you something in the future. I don’t have time for that bull crap. I just want you to have the list that I made up to help you to make an informed decision.
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If you have any additional questions about Melaleuca just send me a message.
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Is the stock market better than starting a business?
Both takes an incredible amount of work and patience. You should not buy stocks on a whim, if you do, you will probably loose money. Here are some of the basic things you should do before buying stocks…
- Write down 10 businesses that you like and you think that they are not going away anytime soon and they are going to be big in the future.
- Research these companies on many websites and other places.
- Only use money that you don’t need!!!
- Buy low and sell high is the gold but no one really know when the lows and highs are. There are many tools that can help with this.
- Do not buy stocks without doing your homework, knowing your stock is very very very important..
My 10 businesses that I wrote down are…
- Roku
- Airbnb
- Tilray
- Canopy growth
- APHA
- Aurora Cannabis
- Tesla
- QuantumScape
- General Motors
- Zoom
- DocuSign
- Square
- Disney
- GrowGeneration (GRWG)
Investing Fundamentals:
Do’s
- Clear your head
- Have some cash, stop buying on margin
- Do you homework
- Acknowledge that we are in “sell the news” mode
- Wait for weakness in stocks
Don’ts
- Blindy follow those with hot hands
- Ignore the surroundings
- Disregard the sway money managers have over the market
- Underestimate the difficulty of making money
- Trust Wall Street as your friend
A Guide to The Earnings Gauntlet
- This game is harder than it looks
- Go after stocks where you believe in the CEO, when others don’t
- Find companies that are cheap versus the cohort
- Look at what failed to rally
- When it comes to sales and earnings, you can’t have just one surprise
- Be sure a pandemic beneficiary is not slowing down
- Find stocks that should’ve gone up more