Which Business Opportunity is Right for Me?

Thousands of people are searching for a business opportunity every day.  The first things to consider when researching an opportunity are:  1) Is it a reputable, legitimate company?  2) Is it a good fit for you?  Will you be able to be passionate about the product or service the company offers?

It can be time consuming and challenging finding the right business for you, but it is worth the effort. Because you've heard of a company does not necessarily mean they are reputable or that it is right for you.

Warning:  Do not rely completely on the Better Business Bureau.  Some businesses simply choose not to pay for BBB membership. While many very good organizations are accredited and highly rated by the BBB, there was a time a few years ago when businesses could purchase a high rating with them.  Since this situation was publicized, it is likely they stopped the practice.  Watch this video to learn more.  http://www.youtube.com/watch?v=Yo8kfV9kONw

If a company promises or guarantees a huge income, be wary.  Some people will never apply themselves; and some don’t have the right skills for the business.  There is no way everyone can be successful, let alone earn a huge income, with any company.

If a company’s advertising makes it seem too good to be true, trust your judgment.  It likely is.  If the company has no product or service to sell, how is the company staying in business?  If all their income is from bringing new people into the business, it is not a legal company.

When performing research of a company, if you find many complaints about it, look into those complaints carefully.  Keep in mind though that some excellent companies have complaints filed against them for various reasons, so a small number of complaints alone may not mean the company is disreputable. 

Learn about the product or service being offered. Would you buy it?  What is the cost of the product?  No matter how great the product, if it is too expensive, you may not be able to sell it. 

Determine the TRUE cost of operating the business.  Virtually all business opportunities have a fee involved at some point.  It may be an up-front cost, a monthly fee or both.  If a company claims that it is totally free to start and operate the business, question it. There are companies that tell you there is no start-up cost, but later charge for the training, websites and more.  Do your homework, not only on the company’s own website, but also on third party sites to see what those outside the company say about them.

When you speak to a representative of the company, do you feel a “connection?”  Do you believe they are being honest and open with you, or are they “hyping” the business?  Hype should be a red flag for you.

Consider the company’s compensation plan. Some people like to have “multiple streams of income.”  Others like a simple payment plan.  Neither is right or wrong, but be sure that you understand the comp plan and that it is acceptable to you.

Does the company pay a one-time commission or residual income?  With residual commission, you will be paid monthly for each active customer/client.  Straight commission means you are paid only once for each sale.

There is no business right for everyone.  Take the time to research a company thoroughly.  Then, do whatever it takes to succeed. 

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