If you're on social media you have probably seen all the ads promoting products and services, and inviting you join one business opportunity after another. There are so many opportunities, choices and products to choose from! It's a good thing, but it can be overwhelming.
How do you sort through the hype to find the right business opportunity for you? How many products do you want to sell when you're starting out? Thee are the kinds of questions you should ask when evaluating any opportunity.
The bottom line is that when deciding to sell products and services online, it's best to look before you leap, though most people don't start out that way. Eager to start earning as quickly as possible, many people look at the compensation plan or commission as the deciding factor. Compensation is important, but it shouldn't be the only factor to think about.
The most important thing to consider (believe it or not), is you. When thinking about a business opportunity, you should consider your lifestyle, hobbies, interests and the time you have to devote to your business. The best way to start is small, with one or two products.
The last thing you need is to become overwhelmed or burned out before you start earning. Until you learn what you're doing start small, then add more as you start earning and learning what works best for you.
Sell Your Own Stuff
If you sell products you create there are several advantages:
- After expenses, the profit is yours.
- You control the pricing and any sales and discounts you offer.
- You don't have to comply with anyone's rules other than your own.
- If you have a blog or website, you can set up your store on your site and have more control over your business.
The down side is that things like customer service, returns, inventory and other aspects of the business are your responsibility. The other hurdle is maintaining a supply of products to ensure that you will make the income results you're looking for. It also takes time to create or develop products.
The biggest downside to selling your own products is the time needed to make enough of whatever it is you're selling. If you don't have inventory or time to create more inventory on a regular basis, this is not going to be a good idea if you need to earn income right away. Unless you have a product that is ready to go, you might not want to sell your own items, at least not just starting out.
Sell Other People's Stuff
Another choice is to promote other people's products or services. Taking it a step further, you can promote other people's products that are related to your hobbies, interests and background. If you sell products and services related to something you already know about, it cuts down on the learning curve and gets you that much closer to being able to sell and earn income.
Affiliate Programs
If you're interested in promoting other people's products, consider affiliate marketing. It's the best way to get started earning quickly. If you have a blog, you can earn from promoting a steady supply of offers.
Here are a few companies (most well known) that you can use to sell other people's products and earn a commission.
Companies like Elite Marketing Pro will also train you on how to earn affiliate commissions promoting and marketing products and services.
With a great traffic source like Facebook ads or other sources that provides targeted traffic, many people are able to do really well with affiliate marketing.
You might also want to consider promoting products you've used and believe in. For example if you're an artist or designer, you might look for business opportunities or affiliate offers that will allow you to promote products, services, equipment and tools related to art and design. It would be even better if you could earn from products you know and love.
Let's face it, if you don't believe in the products you're selling, you're probably not going to be great at promoting the item enough to create a great income. Constantly having to handle customer service issues, returns and unhappy customers, is another area that will stand in the way of your earning potential. So take time to do a little research before jumping into an opportunity.
Think About How the Products and Business Opportunity Will Fit Your Lifestyle
Here are a few questions you might think about before joining a business opportunity. Especially if you're considering an opportunity that requires an investment of money, like a network marketing or direct sale opportunity, to make sure it's a good fit. You may think of some additional questions as you go through these.
Download Questions to Ask When Finding Products to Promote Online in PDF format to help you sort out opportunities before signing on the dotted line.
The Company
- What is the reputation of the company? Is it an unknown or a household name?
- How do they handle customer service?
- Do they handle distribution (product shipment, inventory, etc)?
- How do they handle returns or customer issues?
- Do they have a dedicated customer service or support line?
Training
- Does the sponsoring company provide training?
- If so who would be responsible for training you?
- Do they provide any sales tools or marketing materials?
- Are marketing materials available for purchase?
- Does the company require an investment of any kind before you can get started?
The Products
- What product(s) or service will you sell or promote?
- Have you tried the products or services?
- How do you like the quality or specific features of the products?
- Do you believe in the products or services?
- Would you be happy to recommending them to family and friends?
- If you have any reservations about the products? If so, what are they?
Marketing
- Have you done research to see if there is a demand for the products or services?
- How would you sell the product or service?
- Who would you sell the product to?
- Do you feel prepared to be successful selling this product or service?
- If not, are you willing to learn new skills to be successful?
Compensation
- Does the sponsoring company require you to sell a certain amount to receive your compensation?
- How often to they send commission checks?
- What percentage of each sale will you receive for selling the product?
- Is the commission a one time payment per sale or can you earn residual income?
Which Business Model Does the Sponsoring Company Use?
If you're not sure about a particular business model, (which is different from a business opportunity) read Which Business Model Best Fits Your Personality for insight into the various ways companies do business. You should also evaluate the model used by the company you're considering to make sure the way they do business is a good fit for you as well.
There are plenty of great companies out there that would love to have you on board. You need to be sure it's a good fit for your lifestyle before taking the leap. To be as profitable and happy as possible, be relatively sure you can live with the companies and products you select. You may decide to join several opportunities before it's over.
Before Signing on the Dotted Line
Download our free guide for a few Questions to Ask Before Choosing a Company to Work With, no matter what business you choose.
How do you sort through the hype to find the right business opportunity for you? When deciding to sell products and services online, it’s best to look before you leap, though most people don’t start out that way.