Position your home-based business to benefit from debt

A variety of well-known financial experts suggest that the biggest problem facing Americans today is personal debt. We are a society that believes and practices instant gratification. Americans owe more money now than ever. Installment debt, including auto loans and credit card balances, topped a record $1 trillion in 2006, a one-third increase in the past two years. Over the past decade, total household debt has skyrocketed from 80 to 93 percent of annual disposable income. More people file for bankruptcy each year than graduate from college.

The current situation is totally opposite to what our grandparents faced. A generation or two ago, Grandma and Grandpa paid cash for almost everything. They would have a mortgage and monthly bills and that was it. If they wanted something else, they saved up and bought the item with cash. Credit cards had not been invented and banks were not the hyper-competitive organizations they are today.

Today, if we want something, the likely course of action is to pull out the credit card or make a mad dash for the line of credit, make the purchase, and take it home. The little details of how to pay it off or even how much more it’s going to cost us due to interest on the loan are conveniently left out in the rush to watch the football game on the new big HD screen. Americans are bleeding their financial health to death by ignoring the long-term ramifications of their buying habits.

It’s an unfortunate situation, but our topic is running a home business, not debt management. So what the hell can you ask? Does this have anything to do with starting and running a successful home-based business? A lot actually because millions are searching the internet for a business opportunity not only because it offers a great lifestyle but also the potential for big earnings to help them get out of debt. An honorable goal from any point of view and to which we can help; especially if we are well attuned to the needs and wants of this new generation of prospects.

Those of us lucky enough to work in the home based business industry know the benefits, both financial and lifestyle, that make it so appealing to the masses. If you’re lucky enough to find the right opportunity, put in the time and effort to give yourself an excellent chance at success, then a six-figure income (or more) is absolutely realistic. Combine that with the fantastic tax advantages that come from operating a business from home. Then add the investment power of your extra income and you can be on your way to complete financial freedom in as little as five years. Packaged correctly and marketed to your prospects, this is an irresistible combination that can boost your sales to new and exciting heights.

One of the best ways to get the most out of this wave of prospects is to be creative in how you help your less wealthy prospects get started in the business. Something as simple as taking the time to connect properly and instill a sense of belonging or a little well-placed advice on where to find the funds to get started may be all it takes to sign up your next star consultant. Some entrepreneurs suggest that it’s not worth dealing with people who don’t have the funds to start right away, but I’d suggest just the opposite. While it is true that there are many hobbyists and would-be tire kickers out there who take their time and projection is a necessary evil, everyone has heard the stories of consultants who have made rags-to-riches and made fortunes in this industry despite They started with nothing more than the desire to succeed and a little help along the way. Wouldn’t it be nice to have one, two or more of those on your team?

Debt levels in North America are forecast to continue to rise. This means a constant stream of prospects looking to start a home business as a means to eradicate their financial worries and ease the path to a life of abundance. A smart home-based entrepreneur who puts himself or herself in a position to offer an attractive business model combined with a compassionate approach that is sensitive to the needs of the prospect will see the benefits of a significant increase in sales.