What's my business?

I like it when people send me personal messages about my blog much more than comments. I always try to answer my emails when the time permits but my schedule sometimes prevents that.

Now about last night. I had a blast. It was great being around people who want to take control of their lives instead of having their lives control them. I spend 40+ hours a week with people who do nothing but complain about the economy, taxes, Obama, and everything else under the sun. These people have no one but themselves to blame about the state of their lives. It's one of the reasons why I started a business.

My business isn't traditional by any sense but it definitely isn't illegal. I would never be a part of something illegal. I didn't have to take out a loan to start my business. In fact, it cost approximately $160 bucks to get started. The success of my business is 100% dependent on me. Notice I didn't include failure? My business can't fail unless I quit. Quitting is something I'm not willing to do. I see much more potential to provide for myself in my old age with my business than I do with my 401K or Social Security. My 401K will be taxed as if I was still working and the value is dependent on factors I can't control, like the economy and the stock market. My business is one that grows during economic recessions. All direct selling or network marketing businesses grow during recessions.

I did a lot of research on Avon when I was in grad school and learned a lot about the network marketing industry. My business is not Avon. I just wanted to clear the air. Avon is a great company with great products, but Avon didn't have the characteristics of a network marketing business I wanted to get into. The characteristics that I was looking for are:

1. Must have low cost entry. (I'm not trying to borrow tens of thousands of dollars.)

2. Must appeal to both men and women. (Cosmetics are not appealing to manly men.)

3. Must have products I'm willing to use myself. (If I'm happy with the products, I'm more willing to recommend them to people I know.)

4. Must have an excellent training program and mentorship. (It helps to be mentored by someone who's built a successful business.)

5. Must be Internet based. (A commerce business not on the net is a business going out of business.)

6. Must have longevity and a proven track record. (How long a company has been around is as important is the products. I don't want to spend my time building a business only for it to go out of business.)

7. Must be able to earn residual income. (The Kroc family [McDonalds] earns residual income from the thousands of McDonalds restaurants.)

8. Can be built in my spare time.

I found a network marketing company with these characteristic plus a few more that I hadn't thought of like being DEBT-FREE and owning all operations of the business. I don't like the idea of a network marking business having shareholders. Shareholders are liabilities because a company must pay the shareholders for their stock options. In other words, stocks are a company's way of borrowing money and the network marketing business I'm in has no shareholders.