There are so many business opportunities online today that I realize that it could become very overwhelming for many people. I know that when I first started online back in 2008 I felt totally lost, didn’t know who to trust and worse yet I didn’t know where to begin.
What I did do was start looking for home business opportunities every day in my spare time looking for something that I felt good about.
The internet is a land full of adventure and opportunity to create a full time plus income from home, however as with anything in life there are people who are preying on the simple and naive and are ripping people off or at the very least being disreputable.
You should have seen the looks on my wife’s face the first time I showed her some business opportunities online! It was pretty bad. Women can be more in tune with things (men sadly can get taken in more often by the lure of potentially large success)
My Home Business Story
I spent 6 long months looking for a way to make money from home with a home based business that I could feel good about. My expectations weren’t unrealistic about making money at home which helped me immensely.
Prior to looking at starting a home business my wife and I looked at running a franchise, but we were very disappointed with what we heard which was: ‘You need $300K to start, of which you’ll need $50K up front and if you do really good, you might make $30-$40K your first year and maybe if you’re a superstar you’ll break even in 4 years.”
We quickly said no thanks and started looking on the internet. Nearly 5 years later, we’ve found some really great online businesses that we feel great about being involved with.
On this site, you’ll find a bunch of reviews that I’ve put together (product reviews and also business opportunity reviews) that share my own personal experiences in the those markets.
Different Types Of Business Opportunities Online
I started out buying some basic affiliate marketing and internet marketing training courses that taught me the fundamentals. From there I quickly discovered that I needed a ‘vehicle’ to be able to work from home and that would come in the form of a business opportunity with Multi Level Marketing (MLM) and a cousin to it called ‘Direct Sales.’
Multi Level Marketing This is known as MLM and most everyone will be familiar with this home business because you’ve probably been invited to a meeting, convention or home party where people break out a white board and begin drawing circles and explaining how just 2 people getting 2 more people can make you a lot of money over time. While that’s true, the failure rate is absurdly high coming in at around 97%. While these types of businesses are affordable with entry prices at around $200-$400, telling your family and friends about your new home business make not excite you or them (ask me how I know)!
While I won’t go into great detail here, the plan is you get as many people as you can to join your home business as part of your ‘downline’ and they will o out and keep spreading the word. While it’s true some people can get thousands and even hundreds of thousands of people in their downline or team, it is highly unlikely.
The other thing worth mentioning about MLM is that the commissions are painfully small. My first MLM business paid between $6 and $30/sale on average and I made peanuts.
Direct Sales This is a derivative of multi level marketing and it is very different in a lot of ways. After 2 disasters in MLM, I jumped into a smaller direct sales opportunity which cost $3,000 to join and paid $1,000 commissions. That was certainly better than the tiny commissions I was used to! After the first few sales, I broke even which was a major breakthrough for me and made more in 8 weeks than I did in 2 years with the MLM business opportunities I was working with before.
From there I went on to what’s known as a ‘Top-Tier’ business opportunity and just took off. Though top tier business opportunities cost much more (usually between $9K and $20K) you can earn more in a shorter period of time.
Direct sales opportunities pay much larger commissions when you make a sale, generally have solid coaching and development and often times offer ‘done for you’ sales and marketing funnels (websites) that are proven to convert visitors into customers.
Affiliate Marketing Affiliate marketing is very different. There generally is little to no skill required, no websites or hosting accounts required. YOu can go to places like ClickBank, register for free and begin posing your affiliate link on various places on the interent. The pay is small, but so is the risk. The commissions can be both recurring (monthly pay out) and also one time depending on the products or services you are promoting.
Of all the online business models that I’ve worked with, I’ve had the most success with direct sales and then through affiliate marketing.