We regularly get feedback from readers wanting to know what is the hot home business to get into. The answer to this is actually complex in many cases. When I get asked what is the best home business to start I usually want much more information on the individual before giving an answer. However, in the interest of offering some sort of blanket answer to this age old question I have decided to write this article. What I am about to share with you is a simple outline I use to determine a good home business opportunity. Then I am going to apply this outline to a particular business that has caught our attention and certainly meets the qualifications as “hot”.
A Simple Outline to Find a hot home business opportunity
- One of the first things you want to look at is the industry you are going in to. What this means is you should be sure that the product or service category you are about to enter has a solid market. do people want what you will be offering or is it just a “good idea”. You will find that no matter how hard you work, if the goods/services you will be offering are not in a position of “increasing” demand that you will be fighting uphill.
- You need to be sure you can offer your goods/services at “competitive pricing” OR that you will have something unique enough (and in demand as discussed above) that people will be willing to pay a bit more for it because it is worth the additional cost. I have learned in many many years of commission sales that people understand the difference between value and price, especially if you have properly presented the value of your product or service. You will find that if your products or services are overpriced your business will be short lived.
- If you will be working with a major supplier(s) or in the case of an MLM with your primary company, or maybe even if you are using subcontractors you need to be aware of “who” you will be in business with. Dealing with business associates of the highest integrity will save you a tremendous amount of pain. I have seen time and time again where people get caught up in the hype of something they felt was “hot” only to find it was here today and gone tomorrow. In nearly every case I can show you how the failure comes back to the “true” integrity of the people associated with the business. Make no mistake these people are your business partners and can make or break your business!
- If you will be part of a franchise, MLM, buying group, association or the like you have to be sure they have the systems you will need to succeed. (or be able to develop them yourself) I have seen tons of hype about systems only to be disappointed with the systems they had. one of the biggest issues I have found is the system is single minded. What I mean by this is that it only works one way or for one type of person or personality. This is a HUGE issue when selecting the best hot home business for your needs. working with a company, associates, or an upline that understands this is almost more important than all of the other components. I have been a systems guy that has developed successful systems for a number of businesses over my lifetime. In doing this I have studied literally hundreds and hundreds of other systems. One of the most common components in failure is that the system developer(s) did not make it workable for all types of workers.
- If you want to truly have an explosive business you should look closely at current trends. This will give you important data that will set you up for a lifetime of success if you get it right. The most important trends to consider are Consumer buying trends (what are people increasingly buying more of), Economic trends (this can control “how” people spend their monies), Social trends (what is “shifting” in societal trends and where is that heading, that will always help you understand what will be hot moving forward). This is an important part of identifying a hot home based business that many people overlook. I will caution you that social trends are difficult to identify and “fads” or short term social trends can disguise themselves as long term marketable trends. As an example, a great long term marketable trend was the shift from “landline” telephones to mobile phones. This trend is still growing and will soon have more mobile phones than land line phones. The people who jumped on this trend a decade ago have ridden this wave for a VERY long time. This is the type of trend you want to identify and the “timing” is crucial. That means getting in while it is just catching momentum and in it’s early stages brings best results.
How Did Our Chosen Hot Home Business Measure up?
I will get to the latest of our home business reviews in just a moment, but before I do let me clarify a couple of points. The points of consideration we use can be applied to ANY type of home business from mowing lawns to doing craft shows, or being a plumber out of your home to an MLM distributor. That being said, the hot home business opportunity we have put under the microscope here today happens to be a network marketing company which makes it even better because it elevates this opportunity to the level of what we refer to as “the Perfect Storm” business opportunity.
OK, so here we go…
When looking at the marketability of the product line we found our test subject to be catching the early movement of a huge tidal wave of marketability. Right now unlike any time in history we have unseen numbers of people aging (mainly because we are all living longer). At the same time you are seeing the so called “baby boomers” hitting the age that tends to create some “shifts” in thinking in our society (aka societal shift). The products directly address the growing concerns of physical appearance, how “young” we look & feel, and the growing desire human beings have to live longer and find that “fountain of youth” if you will. The company has developed a series of products that create a true youth enhancement system. They have exclusive products that include breakthrough scientific technologies that are not available from any of their “so called” competitors. This makes this home biz pass number one with flying colors.
When looking at product pricing we found two dynamics. First, when looking at “similar” products in the marketplace we found this product to be priced competitively with a HUGE market of “non MLM” companies that most of us are familiar with. We further found that these monster “big name” companies had products that do not have the same level of science and real world results to offer as our test subject. Additionally, we found that because of the unique technologies and the complete youth enhancement group of products that address ALL areas of aging both inside and out there really is not any comparable product available at any price. This has our test company passing number two also with flying colors!
Next, we looked deep into the integrity of the people behind this company. We found that they have all of the necessary skills, experience, and history to run a profitable and reputable company. They also bring the highest level of integrity as well as a sincere desire to help others in numerous ways. That combination is rare. Many times we find companies put out what I like to call “fluff propaganda”. Things like supporting charities etc. But in most cases they are strictly “business decisions”. What I found different with our test company’s owners is the had that genuine desire to do good things and to always act with utmost integrity. This is by far the ONLY type of people I want to be in business with. Again a pas with flying colors.
Now we come to the systems. This is the one area I am personally toughest on anything I look at. I often find that sometimes even if they do not have the perfect system, if I can make one, or others can, and if they are willing to be “flexible” in assisting with the development of these systems everything is all good. So what I found was our test hot home business company brought a pretty impressive system to the table. They offer solid tools for both offline marketing as well as some innovative tools for using things such as social media for online marketing. Now I will say the company’s systems are not quite perfect, but then again I have never found one that was. I did find that because of the attractiveness of this company they have attracted some very strong business associates who have developed some quite impressive systems themselves. I further noticed several ways I could easily build upon that and develop systems that would exceed what I have seen before with the tools available. This is not perfect, but about as close as I have seen and has more than passed.
I addressed some trends back in number one, but let’s recap the strength this hot home business opportunity has in this area.
- Early on in the “trend” that is exploding in the “anti-aging” market.
- Early on in the “trend” of this new scientific technology they have. (which is beginning to explode on mainstream news)
- Early on in a new “trend” of actual “age reversal” science which they have exclusivity on in the MLM market.
- Early in the social shift of baby boomers wanting to look & feel younger.
- Anyone who starts with this company late 2013 or early 2014 will be getting in on a wave about to run wild as this company launched in over 80 countries and has over 4 years behind them of proven success. BUT they only launched north america in late 2012 so the added bonus of getting in early without the “risk” of a new unproven company or business model is outstanding..this is kind of a self created trend that acts as a huge added benefit.
- Let’s not forget the huge trend toward more and more people wanting to work from home. I like what this company does because of the following dynamics. more aging population are looking for extra income because of the “economic trend” we are in. this means people who are passionate about these products are looking for ways to make money. This is HUGE.
- And socially those very same aging baby boomers want to look & feel young again. AND, it is also statistically shown that in difficult economic times human beings reach for (and spend money on) the things that make them feel good. On that list is of course looking and feeling younger.