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How to Identify a Great Business Opportunity

How to Identify a Great Business Opportunity

05/01/2015 12:04 am0 comments

With all the different opportunities we get bombarded with in this high speed information age, it can be difficult to know when we come across a great opportunity.    There are a few components a business opportunity must have to make it a great opportunity:

  1. Timing – This is one of the most important components because if the timing isn’t right none of the other components will matter that much.   The opportunity should be available in some foreign markets and should not have yet reached a critical mass.   After the critical mass has occurred, the growth of the company will drop dramatically and will typically be quite slow going forward so  it’s important to get involved before the critical mass has happened.  Think of what it would have been like to be involved with Microsoft or Apple before their rapid growth.    If the opportunity is network marketing, it’s best to get involved before there are 150,000 distributors in the company.
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  2. Company – Obviously the company itself is important and must have some key attributes.  First, it’s helpful if the company is a publicly traded company as that typically puts the company under much more scrutiny than if a private company.  Profits, losses, revenue, etc. have to be reported.  Check into the company and find out it’s financial position.   In addition, it’s important that the company has a strategic corporate strategy with leaders that are highly concerned with integrity and are knowledgeable about growing a company.   Therefore marketing leaders of a company are very important.
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  3. Products/Service – The product or service the company is selling should be very unique to the marketplace and innovative.  It should be something that solves a problem the average person has so the market for it is very large.   This ties in a bit with timing as it’s important to get involved with the company prior to the products or services becoming a household name.
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  4. Proven System – If the company is a direct sales or network marketing company it should have a proven system for independent distributors to share the product or service and be duplicatable. Information should be readily available with frequent communication from the corporate leaders to the independent distributors.   There should be ways to easily ask others for help.
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  5. Compensation – This could be in the form of stock dividends or in cases of network marketing companies a set payment structure of how independent distributors get paid.   If a network marketing company it’s important to look closely at the compensation structure and make sure the majority of the money being paid out is not going to the distributors at the higher levels.   Having more money being paid out to distributors in the middle levels is helpful as it encourages more growth and distributors are able to see more money faster.   There’s much more to compensation plans and knowing if the structure is good or bad as well but I’ll keep it simple for now.  Just make sure you talk to someone knowledgeable about different types of compensation plans before deciding to join one of these types of companies.

So there you have the main components that are needed to have a great business opportunity.   There are many options out there so just be sure to do your research before investing your money into a company.   Contact me and I can suggest an opportunity.

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