The main reason that some people take opportunities when they arise, and others do not, is that some people are ready.
They have their business plan ready and all they need to do is take advantage of the opportunities.
Where can you find the right business plan?
If your business is based in the United States - click here
If your business is based in the U.K. - click here
Ideas To Action
Part 3 - Guidelines for Choosing A Business Opportunity
You should start by making sure that your business opportunity complies with all of the business statutes - which vary from state to state and country to country - and is registered where required.
When choosing your business opportunity, keep in mind that if you buy an opportunity from a company with a sizable number of outlets that has been in business for at least three years, you will pay more for this established concept that you would for a newer one.
If you are considering a more recently established opportunity for your business, you should check out the parent company's history to see if it is successful and how long it has been in its particular field of operation.
Guidelines for Choosing a Business Opportunity
These are the guidelines for appraising any serious business opportunity:
- Make an honest appraisal of yourself and your abilities. Will you be happy calling on people and selling them your products and services?
- Will you be happy introducing a new product or an unusual service that the public knows nothing about?
- Can you generate excitement for an item not nationally advertised?
- Are you personally able to make a market analysis of the product or service to be offered? If not who will do this for you?
- Check whether it is a legitimate business opportunity by asking for the contact details of other businesses that have taken up the opportunity. If there are none then prepare to walk away.
- Check that you have the experience required to run the business properly. If not then how will you get that experience?
- Why and how can you make more in money with this opportunity than in another?
- What hours will you be working and what hourly rate will you be earning?
- What problems are there in the sector and why can your business deal with them when others cannot?
- Does The Better Business Bureau have any reports of problems in this sector? If so why will your business do better?
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A Great Business did not just happen - It was planned that way.