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When starting a home based business there are many factors that should first be considered.

First and foremost you’ll need to honestly assess yourself. Are you the type of person who can discipline yourself to build a business from home? Some are but many aren’t. It’s just not a venture for everyone.

Once you’ve found a company and product you’ll like you need to determine if there is a strong market for the product. If you’re selling a product that has demand and is somewhat unique you may just have a winning combination.

The key is to find a niche product that meets the needs of others and is promotable. The competition is fierce online so by picking something unique you have a better chance of standing out.

A good test to determine if you’re on to something good is to get involved with social networking and get feedback. Find an audience who offers opinions on these types of things and fish for their thoughts. If you’re going to invest time and energy in a business spend a little time up front first.

Especially now the product or service must be affordable. Is this a product people will pay for? Will it benefit others enough to pay the price? It would behoove you to check the competition to see what their pricing is.

In some cases your price point may be higher but you offer a better quality product. This will help you determine what your marketing strategy will be. People will still buy quality over quantity today but will need to be sold on it.

Since you’re probably getting into business to make money you’ll need to determine if the product can produce a good and satisfying income.

Here are some basics to consider in MLM companies for example:

- Not all compensation plans are created equal. Read about these and understand them. There are binary and matrix, and uni level and one legged plans. Read the fine print. – Many companies overstate what you can actually make. They may advertise up to 50% but when it’s all said and done it fall more into the 30% range.

- It is better to find a company that does not have “breakage” in their plans. This can hinder the income you make and can also be somewhat deceiving if not made clear.

- A fair and just compensation plan states a 50-50 split amongst the company and the distributors.

And finally does the product have potential for repeat sales. A good point to consider when starting a home based business is whether you will have to continue to sell and recruit feverishly or not. If your product generates long term sales you have a much better chance to grow your business.

Thomas Brant is the owner of the first social networking business site to offer home based business opportunities. Make money with social networking and start your own social network home business today with zero upfront costs. http://www.blazingvillage.org/

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