Finding The Right Business For You - 6 Key Criteria
It seems that more and more people are interested in setting up their own small or homebased business these days. Current figures indicate that, in the USA alone, there are over 25,000,000 people operating a home based business. And just in case you think that many of these businesses are run as hobbies, the figures show that over 5,000,000 of them have turnovers in excess of $100,000.
Not all of these businesses are internet based of course but, if you are doing business on the web, then the world's your oyster and you can multiply those US numbers many times. It's also worth considering that those numbers represent people who are currently involved in their own homebased business. For each of those who already have their business up and running there will be another 4 or 5 who are "thinking about it" - just looking for the right opportunity.
So given the huge number of people who want to run their own business, and given the phenomenal power of the internet as a communications/advertising medium, it's hardly surprising that you are continually presented with business opportunities as you surf the net - is it?
Websites, pop-ups and pop-unders advertising your road-to-riches abound - not to mention all those email messages that somehow manage to squirm past your spam filter with monotonous regularity.
Of course, a lot of these so called opportunities are complete nonsense. Some of them are fanciful notions conceived by people with no real idea about business. Some of them are out and out scams. Some are completely illegal. Others are genuine business opportunities which, although they would work well for others, just aren't right for you.
However, hidden in amongst the hype, the lies and the incredible dreams, there are some very genuine opportunities that could truly change your life. You just need to know what to look for.
There is absolutely no point investing in a business opportunity just because it has a nice, professional looking website, or because the sales letters/emails are well written. Both of these might stimulate you to investigate further, but they're not enough on their own.
You certainly shouldn't get involved with something just because some guru tells you it's the next big thing - no matter how successful or famous the guru may be.
There are 6 key criteria to be used when assessing a potential business opportunity. Apply these rigorously and you will avoid nasty surprises - and you may very well find the perfect business for you.
1. The company.
You need to be working with people who can be trusted, and who will be around to pay you in the future.
2. The product.
A good product is essential. Ask yourself if would you buy it if you weren't a distributor.
3. The payment or commission scheme.
What do you get paid for? When do you get paid? How do you get paid?
4. The sales method.
Are you comfortable with the sales method? can you produce your own adverts?
5. The level of admin required.
This should be low. You don't want to waste your time on paperwork do you?
6. The cost - both startup and running.
Is it affordable? Will others be prepared to invest when it comes time to build your own team?
Evaluate the above points dispassionately before you commit yourself to anything. If you find it difficult to get enough information to make an assessment then that tells you all you need to know. Avoid any opportunity that won't give you the facts up front.
About the Author: Hamish Hayward
This article is the first in a series of 7. Read the rest to discover the importance of the individual criteria by clicking here: