One of the most popular business options for Boomers is in the field of “home-based” businesses. These businesses are appealing because of they are simple to start (it usually requires filling out an “application” and paying a “start-up fee.”) And they are relatively simple to run. (They usually include a website to order products and/or recruit new distributors)
On the downside, many of these businesses have a distributor force whose only business acumen is that they filled out the application and paid the start-up fee. They are excited about the “flagship” product and how much money they are going to make, but don’t know much more about true business success. Many made the decision to “join the business” based solely on emotion and without much, if any, real investigation of the company its products or its long-term business viability.
Companies come and go in this industry at a staggering pace. What looks like a “can’t miss” opportunity dissolves to nothing from one day to the next. Companies make promises they cannot keep, change the compensation plan, cheapen the products/service, and exercise their option to stop paying distributor compensation on a regular basis.
In the end, real people get hurt and the industry takes another hit for being “scams,” “get rich quick schemes,” “pyramids,” etc. When in fact, most companies using this method of business are real and legitimate businesses, with great products, and good people at their helms.
So, as I said at the beginning, Look Before You Leap!! Any legitimate company will welcome your investigation of their products/services, their business model, their compensation plan, and their plan for long-term sustainability. This model of doing business is a good one, but it must fit your lifestyle to be successful for you. Any business takes time and effort. Don’t be fooled by fast talk, high pressure, and/or special deals. Look Before You Leap!!
(In the interest of full disclosure, I have been, and am now involved in this industry as a part of my overall business model.)