Protect Your Home Based Business Starting Today
Have you thought about what you need to know in order to protect your home based business? Although it may sound odd, there are some things you need to consider if you plan to become successful in this industry.
In 2015, a well-known MLM company fell under FTC scrutiny for allegedly operating as a pyramid scheme. Although the company is still in business, it is currently operating under an injunction which restricts certain marketing activity and compensation methods. A monitor has been appointed by the court to assure compliance with these restrictions. In short, the company is on probation.
So let’s say you are a distributor for this company, and up until 2015, you had been operating your distributorship honestly and faithfully. And although you could continue to work with the company, this “black eye” has caused you to want to leave them and find a new company. Unfortunately, because you were taught to brand the company and pitch their products, their brand is now associated with you. As much as you would like to distance yourself from the company for their malfeasance, you are essentially guilty too by association. Their illegal or failed business practices are forever connected to your business. That’s a bad place to be.
Fortunately, this pitfall can be avoided.
In order to protect your business, you first should recognize that this is YOUR business. Therefore, it is incumbent that you brand YOURSELF. Get people to know, like, and trust you first. Focus on building rapport and relationships. That way if your primary company either goes out of business or makes a bad business decision, you will have distanced yourself enough so that YOUR business can continue to move forward seamlessly.
If you are interested, feel free to check out how we brand ourselves.