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Further
Reading ...
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Want To Expand Your Business? Try Walking Barefoot in the Grass! - Diane Hughes
I hear it all the time. "I want to expand my business, but I don’t know how." Many online small business owners have this challenge. In all actuality, it’s not a business problem... rather a creativity problem. For any given industry, there are...
How To Start a New Business - Tom Coleman
While it is tempting to just leap into a new business because of it’s exciting possibilities, a few key planning points will vastly increase your chances of success. These steps aren’t difficult, but they’re easy to skip. Many businesses ultimately...
Index Funds - Are they right for you? - Gabriel Nijmeh
Index Funds - Are they right for you? by Gabriel Nijmeh Indexing is an investment approach that seeks to match the investment returns of a stock or bond index. An investment manager tries to duplicate the target index by holding all the securities...
Wrong Product? or Wrong Marketing? You Decide. - Christophor Strobel
Many new business owners feel overwhelmed about what product to sell. Once they finally choose a product they start to notice every Tom, Dick, and Harry trying to sell the same exact product. Is the market over saturated? Probably not considering...
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9 Pointer for Evaluating a Business Proposal
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Written By:
Ray Burton
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Finding a business opportunity on the net is easy. But evaluating the right one for you, takes a little knowledge. With so many scams, takers and failed ventures you need a little more than the, "highest dollar for the least amount of work" approach. So what should you look for when evaluating an opportunity? Here are 9 pointers.
1. Is it legal?
Do they have a product? Many programs on the net are simply "money movers" with no real products. If this is the case then it's probably illegal simple as that. If you are serious about developing an online reputation for quality and reliability, then don't even entertain the idea of quick easy money. It will catch up with you!
Do they know and follow the law concerning matters such as CAN SPAM and other website legalities? There is no excuse for ignorance on the net! Do your home work and check out:
http://www.wilsonweb.com/wmt9/canspam_comply.htm
http://www.ipcgold.com/ad/112/CD996
Do a search on the names of the owners and founders of the products.
2. Does their product have value and advantage?
Is the product something that people want with the potential for repeat sales giving value for money at a competitive price? Do your homework. Search the net for equivalent products and do a price comparison. Does it offer a marketing advantage of some kind? What are the selling benefits of the product over their competitors? If they don't have a marketing advantage why would anyone buy their products?
3. Is it residual?
The best opportunities are the ones that have a growing industry and ideally repeat sales. Make sure if you are marketing a product that you get the benefit of the repeat sales. This is called residual income. If you are expected to find customers but only get the benefit of the first sale, this is unethical and unfair. It is a good idea to evaluate what % is paid back in commissions for the cost of the product or service. All good opportunities pay back an absolute minimum of 20%. Decide you are worth at least that much to them.
4. How long will it pay?
The world is a fast changing place. The cyberworld is even faster! Ask yourself where will the product be in 12 months, 2, and 5 years down the track? This is particularly important for digital and information products. Ask yourself the same about the company. Are they around for a quick buck or do they have a plan to establish long term commerce? Will they develop or keep up with new technologies to maintain a competitive edge? If this information is not readily available on their website, ask them. If they are not planners then they will not survive
5. How long will it take?
Take a long hard look at their compensation plan and compare it to your own goals. Is it cost effective - continued below ...
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continued ...
on an hourly basis for the final outcome. You may have to make a decision by balancing time for outcome. You may consider it worthwhile putting in 20 hours work over and above a regular 40 hour job for a small return initially, if the final outcome is say 10 hours per week total for a 5 fold income. Of course you will have to decide first of all exactly how much time you are willing to work on the proposal then ask yourself is their program sufficiently automated to be worth your while?
6. Do they want your success as much as their own?
What is their commitment to you in terms of training and support? If they are not willing to train and support you for your success, are you willing to carry the responsibility of training yourself and dealing with product problems? In my opinion you must have online support and training for whatever you need to do for the mutual success of both you and the company. This can be in the form of email support, forums and a FAQ (frequently asked questions) page on their website.
7. What are the hidden costs?
Ask yourself, "What do I need over and above their proposal in order to achieve my goals", then factor this in to your decision making process. In this you should include things like further study, tools, web hosting expenses, stationary,
travel expenses, accommodation etc. It is also important with some businesses to find out if you have a minimum purchase requirement, frequency of compensation and the time period between sales and commission. All these will affect your cash flow. You should then work out exactly what it takes to firstly break even, then become profitable and finally achieve your goals.
8. Is their a lead generation system ?
What assistance is given for approaching potential customers through to closing the deal? This is often non existent with you left to do it all. The best opportunities are fully automated for efficiency but flexible enough to have the essential personal touch. It can be hard work sifting through the opportunities to find your "Ticket2Success".
9. Do they have a money back guarantee?
Whether the product is digital or hardware people will expect a guarantee. Are you able to return and refund products quickly and easily with out problem? Is it clear who handles the finances and complaints in the event of an unhappy customer? You don't want to be left with egg on your face after creating a good online reputation!
About the Author
Ray Burton is an internet marketer specializing in affiliate programs, business opportunities, joint ventures and resources to create your online success. He has paid special attention to online training programs for new marketers. You can visit his store at http://www.cyberchoices.net The mini site - mega store.
© R.Burton Jan 2004 All rights reserved
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| _Additional Resources ... |
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The Essential Must Do's Of Business Success: - Bill Zolis
The Essential Must Do's Of Business Success: * Protect Your Assets By Incorporating * Make money 24/7 * Get Some Good Software * Get Paid By The Efforts Of Others (Leverage)(Residual Income) * Overcome Fear And Inaction * Constantly Express...
Mirror Mirror On the Wall, Who's the Fairest Of Them All? - Elena Fawkner
Mirror Mirror On the Wall, Who's the Fairest Of Them All? © 2002 Elena Fawkner How do you create wealth? Wealth is created by: => Finding a product or service that a lot of people want and need. => Getting repeat business out of it. =>...
7 Golden Rules to Financial Prosperity - Irena Whitfield
Not Enough Money? I believe that most people haven't got enough money for everything they wish to have - the more you have the bigger your plans, and you have a feeling that you have less and less money. Whether you have lots of money or...
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