YTB Report
Reporting the FACTS on YTB
Why a Home Based Busines
Becoming your own boss by starting a part time or full time home based business offers several benefits not often available to those who follow the more conventional employment routes. In fact small businesses make up the backbone of America and may be the best way for most of us to achieve the American Dream.
Here's how Fortune magazine put it in a recent cover story:
"Forget the paycheck; your W-2 days are over. It's a 1099 world now."
Across the country and around the world, legions of people are abandoning their dependence on big business and seeking independence through their own enterprises. Every month about 1 million Americans go through some type of job change or loss, and increasingly they are deciding to start their own business.
In a recent report titled Work, Entrepreneurship and Opportunity in the 21st Century America, the U.S. Chamber of Commerce said, "Millions of Americans are embracing entrepreneurship by running their own small business through independent contracting or Direct Selling." The report also sited a recent Gallup Poll finding that 61% of Americans now say they prefer to be their own boss.
Today 10% of the nations economic receipts are generated by Home Based Business. About 465,000 new businesses are created each month in the U.S. alone. At any given time 15% of the U.S. population is involved in running their own business. According to Carl Schramm president of the Kauffman Foundation, these entrepreneurs now create more than half the new jobs in America. They are not just defining the New Economy here, but around the world. He says "We could call the current era the age of entrepreneurial capitalism."
As economist Paul Zane Pilzer puts it in The Next Millionaires
, "We're in the midst of a boom in home-based businesses, and it shows no signs of slowing down."
Why are so many people starting their own home-based businesses?
Security. In the old days our parents used to tell us to go to school, get good grades so we could get into a good college and end up with a good paying job. Today the corporate career is a thing of the past. Massive layoffs and the transfer of jobs over seas have made job security and the "40 year plan" a relic. Now working for a traditional corporation has become the RISKY option.
Working for yourself has become the new Job Security. If you are working for someone else you are trading hours for dollars. You are doing it at wholesale. Your employer is buying you at wholesale rates and selling you to his clients for retail. You are building his or her equity. Not your own. As an entrepreneur you are master of your own destiny.
Tax Benefits. Congress has recently passed several different tax laws with the goal of encouraging and rewarding individuals who start and operate home based businesses because they help build a stable base for our national economy. Owning your own business also allows you more control over your taxable income through legal deductions and strategic tax planning.
Better Life. One of the biggest reasons people love owning their own business is the time freedom it gives them. They are free to set their own hours. Work when they want and with whom they want. It gives them the flexibility in todays demanding world. If they want to go to a child's ball game or watch that dance recital they now have the flexibility to do so. No more agonizing choice between family and work. It's really a quality of life issue.
U.S. Senator Olympia Snowe, former chair and current ranking member of the Senate Committee on Small Business and Entrepreneurship, points to the flexibility and innovation a home based business provides. "Americans need more options to help them provide for their families, and the ability to work from home is an essential means of achieving this goal."
Snowe is echoed by Harry Dent, best selling author of The Next Great Bubble Boom: "In the network economy, there won't be jobs, only businesses. We will all become entrepreneurs... You will run your own business, make your own decisions... and that means you can work from home."
Greater Financial Opportunity. The masses are figuring it out. There is a far better opportunity to make money by building your own business than by working for someone else's.
There was a trade off with the old 40 year old plan. You typically had a fixed "ceiling" on your income, but the benefits and security made that trade off bearable. Now with the 40 year plan a thing of the past and job security evaporating millions are asking themselves why settle for the income ceiling?
Robert Kiyosaki in his book CASHFLOW Quadrant explains, there are different characteristics involved in being an employee versus owning one's own business and throughout history, most people who have ever achieved financial independence have been business owners.
"Many people fail to become rich," Kiyosaki says, "because they value a steady paycheck rather than going through the learning process of becoming financially smarter. The No.1 thing people can do to increase their wealth is to start a part time business."
Donal Trump, who joined Kiyoski to co-author Why We Want You to Be Rich, put it this way: "Don't depend on anyone but yourself for proving financial security."
"Everyone has heard the phrase, The American Dream. I look at it as The American Reality," says Jeffrey Gitomer, best selling author of The Little Red Book of Selling. "When you're in business for yourself, you write your own history, you write your own success story, you write your own legacy and most important, you write your own paycheck. Being in business for yourself gives you the opportunity to work your heart out for something you love."
Greater Impact. Americans are realizing that their most valuable commodity is their time, and they want to spend it on things that truly matter.
In the Decipher study, 84% of respondents said they would be more passionate about their work if they owned their own business. The No.1 reason they gave for wanting to work for themselves: "to be more passionate about my work life."
Small Business Trends editor Anita Campbell states, "Being an entrepreneur means stretching yourself to new heights. At the end of the day, you will be driven by a desire to create something bigger than yourself. As an entrepreneur you are driven to test and push yourself to see how far you can go."
David Bach, acclaimed author of Smart Women Finish Rich and the Automatic Millionaire, put it this way. "Most of us aren't doing whatever it is we were put here to do, because we're living paycheck to paycheck. You can lease and loan your life - or buy and own your life."
Millions of people are coming to the same conclusion.
Christopher Gergen and Gregg Vanourek, co-author of Life Entrepreneurs , say increasing numbers of people are seeking to "lead" life rather than simply live it: "They develop a vision for the Good life, devise a plan for how to attain it, go for it and check their progress along the way."
Take the Plunge. Most businesses are started on a part time basis until it makes sense to go full time. "Leaving the Rat Race is not as daunting as it may seem." says author Dan Clements in his guide to work life balance, Escape 101. "You'll look back in later years and marvel at how easy it was and how much you gained for so little cost."
According to Donald Trump, "The biggest risk we face is not moving forward with what we have learned."
Bob Proctor, author of You Were Born Rich puts it this way. "Until people make the break and take the step to being in business for themselves, they'll never fully appreciate the freedom that an entrepreneur enjoys. I determine where I'm going, what I'm doing, when I'll do it and how I'll live.
What to look for in a Home Based Business. Direct selling. also known as Social Marketing and sometimes referred to as Network Marketing or affiliate marketing is a $32 billion industry in the U.S. and $110 billion world wide.
It allows individuals to tap into a proven system for success. Avoid wasting time or money by learning from others' experiences. You will have expeirenced mentors to lead and guide you. Take you by the hand and guide you every step of the way. You are in business for yourself just not by yourself.
Get started for under $500. Low overhead and and minimal start up expenses allow you to get started for a fraction of what it would cost you to do the same on your own.
Earn what you are worth. When you are the boss, you don't need to ask for a raise, you simply go out and earn one.
Direct selling levels the playing feild. Equal opportunity regardless of age, race, gender or education.
No limits. You set your income goals. No income ceilings or caps.
Residual income. Truly the 8th wonder of the world. Ask any musician or actor. It's all in the residual baby! Residual income is where you do the work once and get paid over and over again.
How to choose the Right Company. Look for a company with a proven track record. 80% of companies started today won't make it past their second year in business.
If it looks too good to be true ...... you know the rest. Look for a company with a fair and equitable compensation plan. Most companies will change their compensation plan every year or two. There is one company based out of Kentucky that has actually changed their comp plan 28 time in 7 years. This is sign that they just can't get it right. Most changes are never for the benefit of the "REP" but rather for the company. Look for a company that knows how to pay its' reps and guarantees that income with a "BILL OF RIGHTS" that protects the comp plan and ultimately protects the REPS form losing their paychecks.
Guaranteed Income. Look for a company that guarantees that if you do the work you will get paid. I know this sounds like a small thing. But there is only 1 company that we have ever found that actually provides it's REPS with a "Safety Net." one company, YTB actually offers a $6,000 Guarantee. Ask your YTB REP for details on this program.
Inventory. A lot of direct sales companies have sales quotas. They force you to stock sometimes tens of thousands of dollars of products in order to hit the highest comp plan payout. Look for a company that does not have sales quotas, cut offs, or hoops to jump through. Most companies are calendar driven. If you fail to hit your quota by the end of the month you end up losing half of your paycheck or more! Look for a company that is "Transaction" based not calendar driven. When the transaction happens you get PAID, whether it's this month or next. Lets face it, life happens. Are you willing to risk half of your paycheck or more because something came up and you missed a quota by one?
Lotions, Potions and Pills. Look for a company that has a product that people were all ready going to buy at a price they were all ready willing to pay. Most direct selling companies have lotions potions and pills that you now need to try and sell and convince your friends and family that they need to buy when they weren't buying them before. Most of these companies will take a product that can be purchased at a local store and mark it up 10 times just so that you and the people in your "upline" can make a buck or two. Look for a company that does not tier or mark up there product. Look for a company that has a product where the pricing is in line with it's competitors are charging.
Annual Renewals. Most companies have annual renewals. Sometimes as high as their start up fee. Look for a company that won't charge you to continue working with them. Look for a company that says once you start with us you own it for life. Annual renewals are a huge profit center for these companies. They can also cause what is known as "fall out." Think about it, You pour your heart and soul into building your business and now to continue you have to pay over and over again every year. It's good for the owners of the company ... not for you!
Sponsor monster. Look for a company where you can actually make money with the product. A company where you can make money even if you never recruit a single person on your sales team. Most companies will payout a 3 - 10% personal commission on personal sales. Some do have a higher payout but typically they are priced way above market if they payout more than 10%. Here is a hint. Look for a company that offers a 60% payout on income generated from personal sales and offers competitive pricing.
Direct Selling Association. Look for companies that are genuine members of the DSA. (Direct Selling Association. Companies must complete a one year pending period required for full membership. During this time marketing and business plans are reviewed to ensure compliance with all the provisions of the DSA's code of Ethics which includes provisions requiring truthful disclosure of product information regarding price, grade, quality, quantity, and availability.
The code expressly prohibits "PYRAMID SCHEMES" and Deceptive or unlawful consumer or recruiting practices, misrepresentation of earnings or sales potential, inventory loading and unreasonable entrance fees.
Here's how Fortune magazine put it in a recent cover story:
"Forget the paycheck; your W-2 days are over. It's a 1099 world now."
Across the country and around the world, legions of people are abandoning their dependence on big business and seeking independence through their own enterprises. Every month about 1 million Americans go through some type of job change or loss, and increasingly they are deciding to start their own business.
In a recent report titled Work, Entrepreneurship and Opportunity in the 21st Century America, the U.S. Chamber of Commerce said, "Millions of Americans are embracing entrepreneurship by running their own small business through independent contracting or Direct Selling." The report also sited a recent Gallup Poll finding that 61% of Americans now say they prefer to be their own boss.
Today 10% of the nations economic receipts are generated by Home Based Business. About 465,000 new businesses are created each month in the U.S. alone. At any given time 15% of the U.S. population is involved in running their own business. According to Carl Schramm president of the Kauffman Foundation, these entrepreneurs now create more than half the new jobs in America. They are not just defining the New Economy here, but around the world. He says "We could call the current era the age of entrepreneurial capitalism."
As economist Paul Zane Pilzer puts it in The Next Millionaires
, "We're in the midst of a boom in home-based businesses, and it shows no signs of slowing down."Why are so many people starting their own home-based businesses?
Security. In the old days our parents used to tell us to go to school, get good grades so we could get into a good college and end up with a good paying job. Today the corporate career is a thing of the past. Massive layoffs and the transfer of jobs over seas have made job security and the "40 year plan" a relic. Now working for a traditional corporation has become the RISKY option.
Working for yourself has become the new Job Security. If you are working for someone else you are trading hours for dollars. You are doing it at wholesale. Your employer is buying you at wholesale rates and selling you to his clients for retail. You are building his or her equity. Not your own. As an entrepreneur you are master of your own destiny.
Tax Benefits. Congress has recently passed several different tax laws with the goal of encouraging and rewarding individuals who start and operate home based businesses because they help build a stable base for our national economy. Owning your own business also allows you more control over your taxable income through legal deductions and strategic tax planning.
Better Life. One of the biggest reasons people love owning their own business is the time freedom it gives them. They are free to set their own hours. Work when they want and with whom they want. It gives them the flexibility in todays demanding world. If they want to go to a child's ball game or watch that dance recital they now have the flexibility to do so. No more agonizing choice between family and work. It's really a quality of life issue.
U.S. Senator Olympia Snowe, former chair and current ranking member of the Senate Committee on Small Business and Entrepreneurship, points to the flexibility and innovation a home based business provides. "Americans need more options to help them provide for their families, and the ability to work from home is an essential means of achieving this goal."
Snowe is echoed by Harry Dent, best selling author of The Next Great Bubble Boom: "In the network economy, there won't be jobs, only businesses. We will all become entrepreneurs... You will run your own business, make your own decisions... and that means you can work from home."
Greater Financial Opportunity. The masses are figuring it out. There is a far better opportunity to make money by building your own business than by working for someone else's.
There was a trade off with the old 40 year old plan. You typically had a fixed "ceiling" on your income, but the benefits and security made that trade off bearable. Now with the 40 year plan a thing of the past and job security evaporating millions are asking themselves why settle for the income ceiling?
Robert Kiyosaki in his book CASHFLOW Quadrant explains, there are different characteristics involved in being an employee versus owning one's own business and throughout history, most people who have ever achieved financial independence have been business owners.
"Many people fail to become rich," Kiyosaki says, "because they value a steady paycheck rather than going through the learning process of becoming financially smarter. The No.1 thing people can do to increase their wealth is to start a part time business."
Donal Trump, who joined Kiyoski to co-author Why We Want You to Be Rich, put it this way: "Don't depend on anyone but yourself for proving financial security."
"Everyone has heard the phrase, The American Dream. I look at it as The American Reality," says Jeffrey Gitomer, best selling author of The Little Red Book of Selling. "When you're in business for yourself, you write your own history, you write your own success story, you write your own legacy and most important, you write your own paycheck. Being in business for yourself gives you the opportunity to work your heart out for something you love."
Greater Impact. Americans are realizing that their most valuable commodity is their time, and they want to spend it on things that truly matter.
In the Decipher study, 84% of respondents said they would be more passionate about their work if they owned their own business. The No.1 reason they gave for wanting to work for themselves: "to be more passionate about my work life."
Small Business Trends editor Anita Campbell states, "Being an entrepreneur means stretching yourself to new heights. At the end of the day, you will be driven by a desire to create something bigger than yourself. As an entrepreneur you are driven to test and push yourself to see how far you can go."
David Bach, acclaimed author of Smart Women Finish Rich and the Automatic Millionaire, put it this way. "Most of us aren't doing whatever it is we were put here to do, because we're living paycheck to paycheck. You can lease and loan your life - or buy and own your life."
Millions of people are coming to the same conclusion.
Christopher Gergen and Gregg Vanourek, co-author of Life Entrepreneurs , say increasing numbers of people are seeking to "lead" life rather than simply live it: "They develop a vision for the Good life, devise a plan for how to attain it, go for it and check their progress along the way."
Take the Plunge. Most businesses are started on a part time basis until it makes sense to go full time. "Leaving the Rat Race is not as daunting as it may seem." says author Dan Clements in his guide to work life balance, Escape 101. "You'll look back in later years and marvel at how easy it was and how much you gained for so little cost."
According to Donald Trump, "The biggest risk we face is not moving forward with what we have learned."
Bob Proctor, author of You Were Born Rich puts it this way. "Until people make the break and take the step to being in business for themselves, they'll never fully appreciate the freedom that an entrepreneur enjoys. I determine where I'm going, what I'm doing, when I'll do it and how I'll live.
What to look for in a Home Based Business. Direct selling. also known as Social Marketing and sometimes referred to as Network Marketing or affiliate marketing is a $32 billion industry in the U.S. and $110 billion world wide.
It allows individuals to tap into a proven system for success. Avoid wasting time or money by learning from others' experiences. You will have expeirenced mentors to lead and guide you. Take you by the hand and guide you every step of the way. You are in business for yourself just not by yourself.
Get started for under $500. Low overhead and and minimal start up expenses allow you to get started for a fraction of what it would cost you to do the same on your own.
Earn what you are worth. When you are the boss, you don't need to ask for a raise, you simply go out and earn one.
Direct selling levels the playing feild. Equal opportunity regardless of age, race, gender or education.
No limits. You set your income goals. No income ceilings or caps.
Residual income. Truly the 8th wonder of the world. Ask any musician or actor. It's all in the residual baby! Residual income is where you do the work once and get paid over and over again.
How to choose the Right Company. Look for a company with a proven track record. 80% of companies started today won't make it past their second year in business.
If it looks too good to be true ...... you know the rest. Look for a company with a fair and equitable compensation plan. Most companies will change their compensation plan every year or two. There is one company based out of Kentucky that has actually changed their comp plan 28 time in 7 years. This is sign that they just can't get it right. Most changes are never for the benefit of the "REP" but rather for the company. Look for a company that knows how to pay its' reps and guarantees that income with a "BILL OF RIGHTS" that protects the comp plan and ultimately protects the REPS form losing their paychecks.
Guaranteed Income. Look for a company that guarantees that if you do the work you will get paid. I know this sounds like a small thing. But there is only 1 company that we have ever found that actually provides it's REPS with a "Safety Net." one company, YTB actually offers a $6,000 Guarantee. Ask your YTB REP for details on this program.
Inventory. A lot of direct sales companies have sales quotas. They force you to stock sometimes tens of thousands of dollars of products in order to hit the highest comp plan payout. Look for a company that does not have sales quotas, cut offs, or hoops to jump through. Most companies are calendar driven. If you fail to hit your quota by the end of the month you end up losing half of your paycheck or more! Look for a company that is "Transaction" based not calendar driven. When the transaction happens you get PAID, whether it's this month or next. Lets face it, life happens. Are you willing to risk half of your paycheck or more because something came up and you missed a quota by one?
Lotions, Potions and Pills. Look for a company that has a product that people were all ready going to buy at a price they were all ready willing to pay. Most direct selling companies have lotions potions and pills that you now need to try and sell and convince your friends and family that they need to buy when they weren't buying them before. Most of these companies will take a product that can be purchased at a local store and mark it up 10 times just so that you and the people in your "upline" can make a buck or two. Look for a company that does not tier or mark up there product. Look for a company that has a product where the pricing is in line with it's competitors are charging.
Annual Renewals. Most companies have annual renewals. Sometimes as high as their start up fee. Look for a company that won't charge you to continue working with them. Look for a company that says once you start with us you own it for life. Annual renewals are a huge profit center for these companies. They can also cause what is known as "fall out." Think about it, You pour your heart and soul into building your business and now to continue you have to pay over and over again every year. It's good for the owners of the company ... not for you!
Sponsor monster. Look for a company where you can actually make money with the product. A company where you can make money even if you never recruit a single person on your sales team. Most companies will payout a 3 - 10% personal commission on personal sales. Some do have a higher payout but typically they are priced way above market if they payout more than 10%. Here is a hint. Look for a company that offers a 60% payout on income generated from personal sales and offers competitive pricing.
Direct Selling Association. Look for companies that are genuine members of the DSA. (Direct Selling Association. Companies must complete a one year pending period required for full membership. During this time marketing and business plans are reviewed to ensure compliance with all the provisions of the DSA's code of Ethics which includes provisions requiring truthful disclosure of product information regarding price, grade, quality, quantity, and availability.
The code expressly prohibits "PYRAMID SCHEMES" and Deceptive or unlawful consumer or recruiting practices, misrepresentation of earnings or sales potential, inventory loading and unreasonable entrance fees.
The Perfect Home Based Business!
No Quotas No Deadlines No customer points No Inventory
No switching Services No charge backs No Juices
No Lotions No Potions No Pills No PV No BV
No Annual Renewals No Balancing Legs
No Hassles No Headaches No Regrets
No convincing our product is better . . .
WE SELL FUN!
No Recruiting Required to make money!
You can make money without recruiting a single person. Take another look at YTB.
"Network Marketing has proven itself to be a viable and rewarding source of income... there have been some remarkable examples of success."
Donal Trump, Why We Want You to Be Rich
"Don't Laugh - $100 Billion a year is a Serious Business."
Zig Ziglar, in his book "Network Marketing for Dummies."
"If you really want to learn how to be rich, you must begin to know and understand the power found in networks. The Richest People in the world Build Networks."
Robert Kiyosaki, speaking about network marketing
"People need network marketing . . . It has carved out the essence or best part of retailing - educating people about products and services that will improve their lives and that they don't yet know exist. that's what network marketing is all about."
Paul Zane Pilzer, economist and author of Unlimited Wealth
". . . an exciting , new business frontier."
Stephen R Covey, speaking about network marketing
"Network marketing is the greatest source of grassroots capitalism. You learn how to take a small bit of capital - which is time - and another small bit of capital - which is money - and start the American Dream."
Jim Rohn, speaker and author
"I am attracted to network marketing . . . for little or nothing down, you can be in business around the world - if you are willing to persevere and work hard."
Newt Gingrich, U.S. Congressman
" Visions of Wealth and Independence lead Professionals to Try Multilevel Marketing."
Headline in the WALL STREET JOURNAL, June 23, '95
