Business Plans

Okay, you have identified a business opportunity that promises to help you reach all your goals. Awesome! But you have been here before, only to be disappointed with the results your new business gave you. So how do you know if a business is right for you, and will provide the desired results?

Here are 5 quick questions you should ask about any business venture to save yourself time and heartache, not to mention money.

1 – Who is the company?

The ideal company would be 6 -10 years old, still new, but having made it through the first few years of bumps and bruises that wipe out so many businesses. They would ideally be debt free, and offer a product or service that the majority of homes already use. The owners should have a clear business plan, stand behind their product 100%, and be personally involved in the day to day operations of the business, and be approachable by any and all employees/distributors.

2 – Is the company’s product or service a leader in its field?

This is crucial. I am not saying that selling the wares of a #2 in a huge market can not be rewarding, but why waste your time with second place? Go with the best available product in its field.

3 – Is the product consumable?

It is great to be able to make a sale one time, and then have that customer continue to come back again and again because the product they love needs to be replaced. Also, if you have already satisfied the first 2 questions, you know your customer is happy to re-purchase a product of superior quality from a company that stands behind its product.

4 – How can I make money with this?

This may sound simple, but honestly, if you do not know how you get paid, or if the pay structure requires a degree to understand, get out! Your pay plan should be simple, very lucrative, and have several options. For instance, if you have a product that is sold through Retail, Fund raising, and Residual income, and you can set your own prices, you have a real winner! You get to choose how to run your business, not the company.

5 – Can I do this?

It does not matter if all the above criteria have been met, if you can not implement the business plan. It should not require any special skills in any area, and should have a system in place that is duplicatable by anyone that can follow an A, B, C process, and have ongoing training and support.

If the business only fits 4 of the criteria, keep looking. Believe me, I have tried several businesses that really shined in one or more of these 5 areas, but lacked in others.

Stick to these five questions, and you will find yourself in a rewarding business that will put you well on your way to realizing all your goals.
Patrick ONeill is a Veteran Network Marketing Trainer and Teacher who loves helping others achieve their dreams through this amazing business model. If you have any questions, you can contact Patrick at his Jacksonville, Florida home at the contact info below with any questions.

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