A Business Opportunity Is Not Always Easy
A business opportunity that is perfect may not exist but there are
many good ones to choose from today. My recommendation would be to take a
look at yourself to see what type of person you are before you select a
So many times people make a hasty decision and make fast choices only
to regret the move that they made. For example we all want a fast
sports car right? It would be so cool to drive down the highway in a new
Ferrari and way as we go by. However, wouldn't it have been better to
look at ourselves first and see that we are suffering from a ban back
and to get in and out of a low Ferrari is going to be painful and
eventually we will need to sell the car or leave it in the garage?
This silly example is a story that can be applied to most people that
are looking for a business opportunity three years after they started
their business. You see, 90 percent of all small businesses fail in
America within their first three years. The primary reason is because
the investor didn't consider their strengths and weaknesses before they
started their business.
In my opinion, here are the three major areas that need to be
considered before you select a business opportunity. What is your
financial position? Do you need additional income to supplement you
while you build your business to support you? Have you ever owned or
operated a business before?
So what is your financial position? No I am not trying to be nosy,
this is a serious question. It determines a business opportunity that
you can afford. If you have $1,000,000 then you theoretically can open a
McDonald's franchise. If you have no money then you could consider a
small internet marketing business or a network marketing opportunity.
Many people get excited about their new business go out to get it
started and then realize that they don't have enough money to support
themselves. This is similar to a jet at the runway that is cleared by
the tower and then half way down the runway realizes that they need
2,000 more feet of concrete.
Depending upon the type of business you select you may ore may not be
able to continue your present career. For example, a restaurant
requires that you work before breakfast until the last dinner customer
is served. Then you need to close. Obviously you need to have a very
successful restaurant or secondary income if you choose this option.
Lastly consider your own experience before you choose a business
opportunity. Some business opportunities give you training and
assistance like a franchise or network marketing company. So if you have
no experience these would make good choices. If you have already run
several thriving businesses then you have the experience you need to
make your business work. Just don't bite off more than you can chew. It
is best to start small and work your way into a larger business.
So when you are looking at a business opportunity you need to
consider, your financial situation, income requirements and business
experience. Choose the right business for yourself by giving serious
consideration to these three requirements.
Author: Regular Articles
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