For years, I struggled with trying to identify the best home based business opportunity for me.  No, I didn’t stop working then to work at home, but I did try several companies as I worked on my “real” jobs, before finally finding one that I really love.  Two years ago, I was introduced to a business that has changed my life.  For nearly 20 years, I had worked in Corporate America, and for the past four I'd worked fulltime in the ministry as an overseas missionary.  After returning to the States, I was out of place, and I needed something that would be a great fit for me.  I had no idea that the perfect and absolute best home business opportunity for me was right in front of my face. 

A good friend of mine, Kiva Akoto, told me about a business that she had just joined that she thought would be perfect for me.  While I didn't immediately jump onboard, after I did (about a month later) I found out that it has every element that I could possibly want in a home business.  First and foremost, it’s fun.  Because doing work that I enjoy is important to me, I appreciate the fact that my new business is not only lucrative but it's also a lot of fun.  It allows me the flexibility to work around my schedule.  In my case, it has also allowed me to stay home with my 20 month old toddler.  Plus, there are tons of other benefits that include paying out the highest commissions and bonuses in the industry, offering superb travel and vacation perks, free health care, free life insurance, a success program that guarantees your success and a bill of rights that insures the pay plan never changes are all a part of the superior benefits package.  I hope that the research that I’ve done will help you choose the right home-based business for your family before you’ve spent a lot of money on the wrong business.

Why is it important to find the right home-based business opportunity?  The short answer:  the economy.  With companies closing in record numbers and gas prices rising everyday, it is imperative that everybody have a Plan B in place, and in today’s economy, the best Plan B is your own home-based business.  Statistics show that 74% of wealthy people worldwide have their own businesses, many which are home-based.  Many of the world’s next millionaires will be home-based business owners. 

Unfortunately, this business boom has also opened the way for innumerable scams.  How can you identify legitimate home business opportunities vs the scams?  The key is to discern between home-based businesses that promise wealth, and those that have workable business models that truly lead to wealth.  Use the following criteria to identify the best home-based business opportunity for you:

1. Start-up costs – While traditional business costs can be very high thousands of dollars to hundreds of thousands.  Home and Internet-based business generally cost less than $1000.  Look for a business with a low start-up fee and a low overhead (monthly costs).  Start-up costs less than $500 are ideal.

2. Leadership & Experience – The experience and background of the company founders should reflect longevity and stability in whatever industry you will be working in.  Look for leaders with proven success in the business that you are considering.  Also, look leaders that coach, train and mentor new recruits.  

3. Industry – The business industry that you choose should be growing and ideally accelerating at the pace of or faster than the world’s economy.  If the industry is booming, you’re starting at a good place for you to also be successful.

4. Compensation Plan – The compensation plan should be multi-faceted (offering many ways of making money) yet simple to understand.  Do not fall for  “get-rich-quick” schemes; seek a workable plan.  Ask yourself:  How long will it take me to get to the top of the pay scale?   What is required to make money? What is the process for upward mobility?   Are there people from every walk of life doing well in this business?

5. Participants & Partnerships – Examine the company’s business partnerships, including who they are, how long they have been in place, etc.  Great partnerships help to secure solid business foundations.

6. Publicly Traded –   Publicly traded companies offer a higher level of security and stability  because they are tightly scrutinized by the US Securities Exchange Commission (SEC). 

7. Time – How long has the company been in business?  Most businesses fail within the initial five years.  If the company has passed the five-year threshold, its potential for survival increases with every year.

Home-based businesses abound, but by using the above criteria, you will be able to easily assess and identify the best home-based business opportunity for you and your family.  By doing your homework, you’ll avoid the home-based business pitfalls and will soon be well on your way to earning complete financial freedom.

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Regina Osei is a successful mentor and coach who teaches her YTB Team members and other business owners how to succeed in business and how to market their businesses using diverse strategies and approaches both online and offline. If you are interested in starting your own online travel business and want the benefit of a mentor who is committed to your success, join our team today at http://regina.vacationmedia.net. If you have questions, e-mail me at: reginaosei@gmail.com or call 901-221-1630(1)