Tips for Becoming Your Own Boss (And Avoiding Pyramid Schemes)

Have you dreamed of stopping the daily grind? Skipping gridlock traffic? Maybe dare we say making your own schedule? Essentially becoming your boss. 

If you answered YES! Well, it seems you’re not alone.

In fact, three out of five Americans in a recent study say they dream of owning their own business. But some would-be entrepreneurs are still unsure of how to put said dream into motion. 

So, if you’re an aspiring business owner read on as we give you some quick tips on how to get started taking charge of your own professional destiny. 

MOVE BEYOND FEAR OF FAILURE

Whether you believe it or not, most people are afraid of failing. And this is especially true for first-time business owners. 

Common fears include

  • Running out of money
  • Poor marketing
  • Not finding or recruiting the right team members
  • Product not being user-friendly enough
  • Losing to competitors 

These fears are relatable for most would-be business owners. However, more than half of entrepreneurs say that the risk is indeed worth it because they are just as or more successful than expected. Those who become fruitful leaders in their industries say it also helps to have certain character traits, including self-confidence or product confidence, intelligence, persistence, and being outgoing or friendly. But the number one trait that leads to success? Being a hard worker. So, keep that in mind the next time you doubt yourself, if you can hustle hard, you can make it on your own terms.

RESEARCH POSSIBLE BUSINESS OPPORTUNITIES

Maybe you don’t have quite enough capital to go into business all on your own. If this is the case, direct selling or when companies market products and services directly to consumers via independent sellers may be the path for you. 

There are multiple direct selling organizations out there that sell everything from makeup to wellness items to cooking products. The things to look for when you’re debating which company to go with include factors such as:

  • Time they’ve been in business. A general rule is don’t commit to a company that has less than five years under its belt as that could be risky.
  • Their compensation is clear. If you’re scratching your head and having to reread their payment breakdown it could be a sign it’s a pyramid scheme, not a direct selling organization. 
  • Products you actually use. It can be a hard sell if you don’t have any interest in the product you’re selling. So, pick to work with a company whose products you trust in and use yourself. In direct selling a lot of new distributors want their friends and family to try the products first and become customers, so don’t lead the important people in your life astray.

HOW MUCH IS IT TO GET STARTED?

This is a big one. When those hoping to become entrepreneurs were polled the top three ways of funding their new venture included bank loans, borrowing from family/friends, and online lenders. However, with a direct selling business, there’s no need to fret over finances as most reputable companies will have a low start-up cost. The fee should be accessible to most and include product samples, training materials, and detailed information on the company. Beware of any organization that asks for a huge joining fee or demands you buy a large amount of product upfront as these are usually pyramid schemes that make all their money off signing up recruits and very little if any off actual product sales. 

If you’re excited about the notion of direct selling but still a bit weary, you may want to check out reputable direct selling organizations such as Amway as they have pyramid scheme facts listed in their company information to combat myths and shine the light on what it means to truly be a trustworthy direct selling business. 

Still, want to become your own boss? Do your research, get your hustle on, and the opportunities to reach your goals become limitless. 

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