Forums: Discussions for entrepreneurs and small business.

Hey hows it going! I recently inherited a good amount of money and I am interested in investing this money in a start up, that way I can run my own business. I am 21 so this will be my first owned business. My question is for this time and era or in the near future, what is a good, profitable, safe business to start up?

There are many great ideas. Typically, if done right, online is your best bet to start with. you can start making money with a relativley low amount of capital. I would recommend you hiring an internet business start-up consultant (just google the phrase, you will find some people) as for the money you pay them, they will save you tens of thousands of dollars and save you a lot of time. Many times they will have good ideas for you to implement.

Hey jhplat.

This is interesting: When asked how they would recreate their fortunes if they were to somehow go bankrupt tomorrow, Donald Trump and Warren Buffet both said they would both start out in the Home-Based Business industry. Warren Buffet himself owns SEVEN home-based businesses!

Now granted only 3% of ALL network marketers can achieve residual income and earn six-figures a year, but that`s because most are not trained with business principles and methods. They just pay the entry fee and expect to magically grow a business through friends and family, which does not work.

All in all, I`d say with your money you should either invest it (if its alot and you can live off some and invest the rest), or you should look into the network marketing business and get trained with the correct skills (ie: how to get daily leads and how to market) so you`ll have time to work on it while living off the money ( or the interest off the money). And you`re lucky, because you are only 21. There are alot of network marketers in this industry who have built up their businesses, earning over six-figures a year, and they`re under 28! Let me know what you decide!

I totally agree with Chris that MLM is a great way to learn experience in the business.  And it is relatively cheap.  The one I joined cost only $400, and although I don`t actively promote my network marketing product like Chris does... I picked one that allowed me to co-exist with my online businesses very well.  I have signed up many people just by about my daily business.  I now make a little over $3k a month with this company, and this is residual income, I don`t even do anything to get it.  Well besides if one of my downline is having trouble.

If I didn`t have my other businesses that make me more, I probably would promote network marketing actively, just because of what it has done for me. 

Hey ElementalUnity.

That`s awesome to hear. I just started about 3 weeks ago and I`m glad to find someone with experience and success like yourself.  That`s an amazing thing that you`re able to make such a great monthly check in residual, I`m sure you worked very hard. We should talk, as I am open to seeing other opportunities the network marketing industry... the one I`m involved in can only be built with people who live in my state, and I`m looking for another that has international potential. Let me know!

Chris

Hey Chris...

I would be more than happy to talk with you about all of the MLMs out there not just mine.  As I stated I don`t actively do my business, I use it to help out my business.  The great thing about my business is that it isn`t just for a select few people, in fact I try not to even go after people that are "in it for the business" when I do work on the business I go after exsisting business owners.  Do you belong to any other forums that specialize in MLM? 

Anyway here is some ways to contact me...

AIM - elementaltags
Yahoo Messenger - elemental_unity
MSN - lex_winters@hotmail.com
Skype - ElementalUnity
Google Talk - elementalunity@gmail.com

Add me to whatever I usually have them all running 24/7

Cool. That`s awesome. Do you know anything about `Top Tier` MLM`s? I`m want to get involved with one of those...

Here is what I know about `Top Tier`

Top tier opportunities completely remove the human equation and replace it with a system that handles the entire sales process from beginning to end. No longer is it necessary for the home business entrepreneur to even talk to leads all on the phone.

With a top tier opportunity  the sales process starts with a prospect visits a lead capture webpage and submit their information. The prospect`s e-mail address goes into an auto-responder (which will e-mail the prospect on a daily basis) and then they are directed to additional sales copy including a video. This video provides a little bit more information but just enough to get the prospect even more excited about the opportunity available. This webpage that guides the prospect to traditional video which explains why the that business is the answer they have been looking for .

After the prospect has watched the videos and read the sales copy which includes testimonials they can submit an application for a fee in order to be considered for the business and find out exactly what the complete business is about. This fee and application process is typically to separate the tire kickers from serious prospects who are interested in making money.

After the prospect submits an application they are put into the system where a professional salesperson will give them a call to answer any questions they might have about the business and get them signed up.

From beginning to end of the Top Tier sales process the entrepreneur doesn`t have to lift a finger. The only real responsibility of the entrepreneur is advertising and marketing the website.Full training is usually given and in most cases you get all you will need delivered to your door to start successfully promoting your business online . The system is then supposed to take over and do all the selling for you.

By the way your site looks, you are trying to do just that.  I really can`t tell you which of the Top Tier programs out there is the best.  But I can give you a few forums that are great for network marketers. 

Scam.com - yes this also used for other things but if you go to the MLM scams, there are a lot of people in there that will help you.

BetterNetworker.com - great site owned by Mike Dillard the author of magnetic sponsoring, great product.  There are a lot of great marketers here.

But if you want more of my opinions shoot me a line.

 

Thanks.

I think starting a brick and mortar business is down to earth but don't expect to make a lot of money in the short term as the limitation is the start up cost and low scalability.

-------------------------

Seo Consultant | Rattan | Microsoft Dynamics Nav | Autism Singapore | Industrial For Rent | Business Park | Gallbladder Surgery Singapore