Four Steps Before You Start a Business
If you have a full-time job but your employer has reduced your hours… if you’ve lost your job completely because of company cutbacks… if you’d just like some extra income to help pay bills…
A home-based business can be the way to support your family or supplement your income through tough times! Perhaps you take pride in the independence you have with your own business. You may like the flexibility of choosing your hours. The reasons people to start a home-based business can be as varied as the type of business itself.
There’s more to launching a home-based business than just hanging up a shingle and getting a website. Before you commit to any new venture, carefully consider four key points about the company and the product you’ll be representing.
1) Demand for product
You’ll want to offer a product that people not only want to buy, but is unique. The more commonly available an item is, the more competition you’ll have. That makes it much more difficult for your business both to stand out and to succeed.
2) Initial investment
While every new business does involve some start-up costs, research how much you will have to invest upfront to carry a company’s product line. The total amount can range from less than $30 to hundreds of dollars, or more! Watch for the “fine print” that might mean you’ll have to buy and keep a large inventory on hand in order to conduct business successfully.
3) Timeline for profits
Some companies delay as long as 30 to 90 days before issuing commissions. Before you begin, you’ll want to know just how long it will be before you receive payment for sales that you’ve made, especially if you’ve had to sink a lot of capital into inventory in order to get started. The shorter the time until you to a return, the quicker you’ll realize profits.
4) Expansion Capability
Study your business potential in terms of both today and the future. What are the possibilities for growth when the economy improves? If your current plans for your business are simply to make a little “extra” on the side, that’s great. However, should things change and you want to expand, will the products you’re looking at give you the flexibility to develop your business into something even bigger?
The IBW Bookseller home-based business gets high marks on all four of these criteria.
First, consider demand for product. As an IBW Bookseller you would sell innovative IBW Books that combine print text with the interactivity of multimedia components. These are not e-books or downloads, but one-of-a-kind print books for children that include online animations, activities and games as an integral part of the storytelling process. For you, that means a product line that has NO competition!
IBW Booksellers make only a minimal $25 initial investment for which they receive a Show Kit consisting of 10 books. No “fine print.” The Show Kit is all you need to get started. You do not have to maintain or store inventory, restock supplies, or even fill orders. The publisher does all that for you, freeing you to focus on conducting business.
How does immediate sound for timeline for profits? IBW Booksellers do not wait to be paid. You collect payment for IBW Books sales you make and take out your commission BEFORE you submit orders to the company.
When it comes to expansion, the possibilities are limited only by the individual IBW Bookseller’s imagination. Not only one-on-one sales, but business through personal websites… bulk sales to school districts and daycare centers… libraries… reading programs… and more!
IBW Booksellers are just one home-based business for you to consider. When studying this, or any business venture, remember to take into account:
- Demand for product
- Initial investment
- Timeline for profits
- Expansion capability
Your business will be much more successful if you do your research first!
Do multimedia IBW Books pique your interest? They’re the future of reading! Find out more and start your own home-based business as an IBW Bookseller by going to our website www.IBW-Booksellers.com
Written by Mary Donev — Director of the IBW Bookseller program, a home-based business selling innovative multimedia IBW Books.
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