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The THREE Things You Need to Succeed in Starting Your Home-Based Business

Updated on July 20, 2014

The THREE Things You Need to Succeed in Starting Your Home-Based Business

Have you been thinking of starting a home-based business?

Have you ever wondered how some internet marketers become successful in such a short time?

In this Hub I will outline the three things you need to succeed online, and how you too can start your own successful home-based business.

The THREE things that you need are as follows:-

1. A consumable product that people need and feel good about using and buying.

2. A Compensation Plan that is easy for the average person to make money.

3. A simple and duplicatable system that does the majority of the work automatically.

A consumable product is one that has a ready market where people have been using the product, and buying it regularly. It is a product that makes people feel good, feel better, look good, or look better. They look forward to buying it every month on auto-ship so that don't forget to put in their order. They are happy to share their personal experiences with their family and friends and they tout the benefits of the product whenever they can.

A consumable product is the first thing that you should look for in any online opportunity to make you a passive, residual income. Check out several options including how to lose weight products, how to get better looking skin products, how to sop aging products, or any other vitamin or "feel-better" product that is available for marketing or in an MLM program.

The advantages of a good, consumable product and one that has acceptance in the market as an authority product combined with a name brand are things you should be looking for when considering which product to promote.

A Compensation Plan that rewards those who work hard, and one that is easily understood and achievable by even new recruits will attract and retain them. A compensation that rewards them for efforts and results will keep them around to build their business. A compensation plan that matches bonuses for above-average or super performance or results will be the cherry on the ice cream for those who truly dedicate their efforts to build their business and grow their residual income over time.

The best product on the market, without a good Compensation Plan will not do you any good in terms of building your online business. You must review the Compensation Plan carefully to understand how to make money with the program, and what types of performance bonuses you can expect when you achieve certain levels of success. If a program under consideration does not have a good "Comp Plan" then you should delete it as one for further consideration.

And finally, a simple and duplicatable system that will do 90% of the work for affiliates or distributors will be appealing to new recruits as well as seasoned online marketers. A proven marketing plan that pre-sells visitors or prospects after getting them to provide their email address on an opt-in page in exchange for some free information, ebook, or newsletter, an autoresponder loaded with follow up email messages that provide useful information to subscribers and a thank you page that delivers the product are the start of a complete system that works on autopilot.

Knowing that your company's plans are simple and easily duplicatable will be a huge attraction to any person you speak to in the course of building your business. Make sure that the mundane tasks are automated and that even basic stuff is easily done by the computer software the company uses, otherwise, your time will be spent doing the clerical and boring tasks that lead to drudgery and leaving the program.

The three things that you must have in every online business are therefore:

1. A consumable product that people need and feel good about using and buying.

2. A Compensation Plan that is easy for the average person to make money.

3. A simple and duplicatable system that does the majority of the work automatically.

In order to become successful, you have to apply sound business practices to a proven business model that is easy to set up and implement. A business model that is run on autopilot and practically sells the product on cue is the ideal.

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You can choose from those that deal with MLM opportunities, work from home strategies that can walk you through setting up a business from home, and even those that show you how to make money in several different ways.

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