Let's start assuming that you need a home based business that produces reliable and predictable residual income.
After a business based in three different families, I know that one fails and is in the top 1% of the other two income earners.
The first home-based business I tried was Amway. It was my first time that I was exposed to the concept of residual income. I have been doing some work and doing that for many years. What an exciting concept!
I tried Amway's business for three years but I could not put together all the elements of success. I have not seen measurable success after three years of effort. Now I am not stopping hope and dream for the future, I just cease business model which is not working for me.
A few years later, I was introduced to Herbalife International. Window dressing was very visible. America's massive obesity problem, weight loss products that seemed to work, the desire of families wanting to work at home is rising. It seems that all this has gathered to create wonderful business opportunities.
I was excited to change the future. I did not ask common sense about the business model. I just jumped and went to work.
Now I am told that you concentrate and if you strive for just over 90% of the competition will be produced. Based on my experience, this is true. But even if you are working hard you will not guarantee success in building long-term residual income
I had to learn this in a difficult way. I worked very hard and was at the top 1% of my income at Herbalife International, but my business was built on sand instead of solid ground.
Here I mean what is being built on the sand. Herbalife has several good products, but building a business is more than just a good product. This is the reason I say this ... Someone is serious about losing weight and they will lose weight well if they obey the Herbalife program.
There is a problem here (there are actually two).
- People do not use weight loss products for a long time. If you lose the weight they want to lose, you stop using weight-reduced products.
- Another challenge is that most people recognize Herbalife products as expensive. This makes it more difficult for customers and other users to build customer base. Also, even after starting a new customer, we need to consistently replace all customers who have finished.
Provide already used products and services
If you can offer daily products that you already use, you do not need to convince something, they already recognize the need. They have already purchased these types, and the cost is already in family budget. So, the first element is to build a business around the people who are already using.
Second element for long-term success ... Competitive price! Wal-Mart has become the world's most successful retailer by simply selling the same product as the competing product.
Now it is the foundation for long-term success if we provide products already used to customers, products are more user-friendly, environmentally friendly, and price superior to competition.
A strategy to build long-term residual income is that people provide lower quality products at a lower cost.
What can you accomplish by associating yourself with a company that offers opportunities to offer high quality products with less cost? Well, what happened to me? I earn over $ 300 thousand in two years and have little business overhead and operating expenses.
