Business and Finance

There are many reasons why people either succeed or fail with a home-based business opportunity.  However, there is one critical mistake that most people make before they sign up that will have a major impact on success or failure.

If you are involved in a home-based business you have experienced the recruitment process.  You are invited to check out a home business through one of many ways including a hotel or home meeting, business presentation CD, phone presentation, or a one-on-one presentation. 

The presentation, generally, is about the business and what it does to make life better for everyone using their products or services.  A good presenter will show you how the business makes sense and the exciting opportunity that lies before you.  By the time the presentation is over the opportunity sounds so good you can’t understand why anyone wouldn’t join and become a millionaire.

Hopefully, you have done your due diligence.  You have checked out the company and its products to make sure they are what they say they are.  You have experienced the products and services, believe in them and feel in time that you could develop a passion for them.  And, finally, you feel confident you can go out and build a business with this company. 

But wait!  There’s something that is missing and it is the one critical step that must take place to make sure you have the best chance for success.  You have to find out how qualified your potential sponsor is in leading, training and coaching you.  How they answer your questions should be key to whether you join their team or not.

Here are critical questions you should ask: 

• What kind of business building experience and training do you have? 
• Tell me about the team you have built and how you did it
• Specifically, how do you build your business?
• What you do to teach your new business partners to do to ensure their success? 
• How much time do you traditionally spend teaching and mentoring your new partners? 
• Can I call and talk to several of your business partners to get a feel for your organization and how your work with them?
• How easy are you to contact?   Will you be available when I need you?
• IMPORTANT:  If your potential sponsor is new to the business, you need to ask these questions to his sponsor before signing up

Most people hardly ever ask these questions.   They end up signing with inexperienced and non-mentoring business partners.  The result, in most cases, is frustration and failure. 

Having a sponsor with strong leadership and training experience mentor you through your first years in a home-based business is critical.   Here’s why:

• Most people signing up for the home-based business opportunity have little or no business building experience
• Starting a business is tough work and a strong leader needs to be there to mentor the new business partner through the highs and lows
• You will need to develop a new set of skills: presentation, closing, training, mentoring, etc. including a proven step-by-step business building process or system
• To avoid many of the pitfalls many inexperienced associates fall into
• Help develop the right mindset to succeed

Unfortunately, most prospects are told this is an easy business to build.  Anyone can do it!  So, the new business partner comes in with false expectations.  Only to learn, the hard way, that success comes with the price of hard work, education and commitment.  For most, starting a home-based business is a huge challenge. 

A sponsor must be honest.  A recruit has to understand the benefits of being involved in the business, but counseled that there is much to learn and a long-term commitment to the business is required for success.  The sponsor may ask for a one-year commitment with a minimum number of hours a week to work the business before signup takes place.  The prospect needs to understand this is a serious business and to make serious money will require constant plugging in and participating over several years. 

New partners may never have been involved in sales or recruitment, so, this is foreign territory.  The sponsor must have the knowledge and experience to teach the basics and get the new business partner off to a solid beginning teaching a success system that is in place and being used by other business partners. 

A leader will work directly with his new recruit to understand the business inside and out.  He will teach solid fundamentals that will be the foundation the new partner will fall back to for the rest of his career.  And, in turn, teach this system to his recruits, too.   

Signing up with a proven experienced leader is a critical part of building a successful business.  He will be your mentor, coach and trainer for you through thick and thin and lead you to success.

So, the next time you investigate a home-based business opportunity ask the critical questions that 99 percent of potential business partners never ask about leadership and training.  It could make the difference between success and failure.