Picking a work-at-home company
My Story: Selecting the Right Company for You
contributed by Michelle
How to Avoid Work-at-Home Scams
Working at Home with Kids
I am writing to share some of the criteria that my husband and I used in choosing something to do to make an extra income from home that would allow me to stay home with the kids and avoid putting them in daycare. Our criteria were as follows:
- Look for something that is based on a product line, not a compensation plan.
- Find a company of which you would be customers regardless of receiving a check from them or not. Make sure that the product line is something that is of highest quality that you would never feel hesitant to talk to others about. Also, consider the price of what you are selling or promoting. Would it be something that is realistic to most, or are you going to have to convince people to spend the money?
- Making money from home that will last you a lifetime will never be "fast" and "easy." Find a company that acknowledges the work that you will put into your business but rewards you in the long run for sticking with it. Some companies provide something similar to profit sharing, and we felt the importance of being vested in the company in return for the business that we provided and referred to the company. Long-term, residual income is ideal in having a good idea on how much your monthly check will be at the bare minimum. This allows you to be able to actually plan your finances and pay bills accordingly.
- See if the company does things that actually support "financial independence."
- Find out what kind of a support system and resources you would have available to you prior to starting your business. You may not have to spend a large amount of money up front, but the expectations may be unrealistic.
- Look for a company that is tried and true. See if it has been around for many years and if it's open about its earnings. Check into the business' credentials and see if the mission of the company is in line with what you are looking for.
- Make sure that your business is something that you love to do and is not hard to share with others! If it is not fun and rewarding, it will probably be something that will eventually wear you out, and unless you have done an incredible job of investing the money you made while at your peak, you may be closer to where you started than you had hoped. Be optimistic but realistic!
Those are a few of the criteria we looked at. We also avoided "MLM" companies as we do not agree with things like "break-offs," ground floor opportunities, get in now, etc. However, we know that some people can be very successful in these companies.
"My Story" is a regular feature of The Dollar Stretcher. If you have a story that could help save time or money, please send it to MyStory@stretcher.com
Share your thoughts about this article with the editor. Just Click Here and tell us what's on your mind.
Debt from my past is preventing me from saving for my future! Tell us: Yes, debt is hindering my ability to save and I could use help dealing with it! or No, debt is not a problem but I am trying to get ahead financially!
More Money Tips & Tools
- 5 low-risk ways to earn higher interest now
- 10 easy ways to save money for the holidays
- 7 IRA withdrawals that don't trigger a penalty
- 4 secrets to maximize your credit card rewards
- How to know when to use your emergency fund
- Using a checklist to make positive change in your finances
- Avoiding loan payment pain
- This week's Readers' Tips