Don’t Miss Your Business Opportunity

Business opportunities are out there everywhere, and people often encounter them in their lives. And if you let them pass you by, you can pass by the chance to make a significant amount of money. This article will show you how to look smart so you don’t miss your business opportunity when it appears to you.

The world around you is full of opportunities for you to make a little extra money, but many people don’t recognize the opportunities when they present themselves for a variety of reasons. Maybe they believe that they are too busy or can’t afford to take the risk. Often, people are afraid that they will fail when they take a risk and don’t want to lose the money that they would have to invest to create the business.

If you don’t know where these opportunities are presenting themselves, you are no doubt missing them. So you don’ miss your business opportunity, you should know where to look for options where you can join a business or create one of your own. That way, you will be able to identify if these opportunities are something that you should attempt or let pass you by.

The first place to look is at yourself. If you have a valuable skill that you can provide as a service for people, then you have a potential business right in yourself. You can offer your skills as a service that will gain you a profit from people that will enjoy the service and pay you for it. This could be a repair skill or even the ability to cook something special that you can teach someone else.

The next place you should look so you don’t miss your business opportunity is at the market in your area. Look around and see what people have a desire for in your area. Customers make a business, and if you have customers with a demand for something that you can provide them, then there is no doubt that you can make a profit from meeting that demand. This could be a service or an item. The choice is yours.

There is a note that should always be considered here. If you want to expand the market for your business opportunity, you can always take advantage of the Internet. Many people market their business online as well in order to increase their potential customer base. If you are selling something, then you should always figure what shipping will cost you to see if it is really worth it, and when you are deciding on your prices.

Don’t miss your business opportunity. This could be the chance to supplement your income, or even replace your current income with something more profitable that requires a lot less work. These opportunities are often missed for many reasons, but if you want to increase your income, you should learn how to look for these opportunities. Looking around you and at yourself is a great way to find business opportunities that could be available for you.

Business Opportunities – 9 Things to Watch Out For

If you are considering striking out and starting a new business, you have probably been investigating what are known as “business opportunities”. A business opportunity is usually a complete package that contains a product or line of products, and a marketing strategy for selling that product.

Any business opportunity worth considering will either have a track record that you can investigate and evaluate, or it will have a clear statement of the plan, the potential, and the up-front costs. Before investing any time or money in a specific business opportunity there are some things you should consider. Here are some of the more important ones:

  • How long has the business opportunity been in business? – Before investing time and money in marketing a business opportunity it is important to determine how long that business opportunity has been operating. If it is a new concept that has not been proven in the marketplace, you have no assurance that it will even work.
  • Does the company have a fixed address and phone number? – This may seem obvious to you, but the fact is, thousands of “companies” operate with nothing more than a website and an email address. Many of them are here today and gone tomorrow. Make sure the business you intend to deal with has a fixed address, physical location, and established phone number.
  • Does the business opportunity have some successful members you can talk to? – Most business opportunities will show you “testimonials”, but these are often untrustworthy. They could even be completely fabricated. Ask the owner of the business opportunity for names of real people you can talk to. Call them on the telephone and ask them to share their experiences with the program. This will not only provide you with valuable first-hand information about the program, but it will give you a list of advisors who many be happy to help you along the way.
  • How much initial investment is required? – In many cases a proven business opportunity with a successful track record will involve some kind of initial investment. This could involve an initial amount of product inventory, a program subscription fee, or possibly a piece of equipment required to produce or finish the product. You should not assume that a business opportunity that is free to join is a better investment. Usually a free-to-join business opportunity will involve other costs such as marketing and advertising fees. Nobody gives away “opportunities” for free. What you have to determine is whether a specific business opportunity has a successful track record, is managed by honest people, and offers you a realistic chance of actually making some money. These are the things you must weigh against the entry costs.
  • What is the realistic income potential of the business? – Have a careful look at the numbers and projections provided by the business opportunity. Then talk with actual members who are using the program to determine if they have been able to turn those numbers into reality.
  • Are there extra fees such as yearly or monthly subscription fees, shipping costs, or minimum purchase requirements? – Make sure to get a detailed list of all the fees involved in operating the new business. These things may not seem significant now, but they can easily eat into your profits later.
  • Who controls the money? – When you generate sales for the business opportunity what assurance do you have that you will get your share of the profits? This is the primary reason not to deal with “fly by night” outfits that have no track record. Again, the best way to get an accurate reading on this is to talk with people already using the program.
  • Does the business opportunity supply marketing materials and person-to-person mentoring? – One of the most difficult parts of starting a new business is “learning the ropes”. It can be extremely helpful to have advisors who have first hand experience in making the program work. The same goes for marketing materials. You will have enough to do without having to create brochures, ads, and newsletters for your new business.
  • How much control of your new business will you have? – Be clear on who owns the business, and who controls the way it is developed and marketed. You may want to diversify your product offerings in order to avoid being at the mercy of “head office”. Remember that you are trying to create a business that has long term value. This will involve considerable investment of time and energy on your part. You don’t want your business to be completely dependent on the stability and integrity of a single supplier.

The ideal business opportunity is one that is offered by a stable company with a proven track record. The business opportunity should require low initial investment and have high profit potential both in the short term and in the long term. It should allow you to build a profitable business of your own that will be a source of income far into the future.

Exploring Business Ownership – So You Think You Want to Be in Business? (Part 1 of 7)

This series is dedicated to helping “wannabe” business owners determine whether they’re a good candidate to venture forth into the world of business ownership.

Many times those who have been laid off or downsized, or are in danger of that happening soon, begin to actively think about business ownership. Typically, they’re tired of the uncertainly of their present position, or simply have that entrepreneurial itch and are considering striking out on their own. This may describe your situation and you might be wondering whether it’s best to continue in the employment world or if it’s time to take the plunge.

So, how do you test the waters to know if you have the risk tolerance, level of motivation, and personal attributes necessary to succeed in the business world? Read on.

So You Think You Want to be in Business

Maybe you’re tired of working for “the man” and you want your own “gig”. Or you might have a great idea that you’re sure will work. Or maybe you want to build wealth by starting and building a business to sell at a tidy profit. Or maybe you dream of creating a “gentleman farmer” lifestyle where you simply hire someone to work hard in your business, while you collect an owner’s check at a retirement resort in another state (or country). There are many reasons people start or buy businesses. Most of them have a root in the dissatisfaction with their current situation.

What Kind of People Do Well in Business?

Conventional wisdom says you have to be a “sales type” to be successful. However, Bill Gates is the world’s most famous geek, is definitely not the sales type, and didn’t even finish his undergraduate degree at Harvard, yet few would argue with his success.

While there are some traits that serve owners better than others, in my experience nearly any personality type or style can be successful in business. Rather than focusing on whether someone is outgoing, the basic ingredients I find important to a candidate’s success are a clear understanding of what they want to achieve, a high level of self-motivation, the willingness to ask for help, and the ability to change when business conditions or market needs require it.

Typically, natural sales-types are not good at detail, yet successful businesses must deliver everything promised, when it was promised. So the challenge for the sales-type is to recognize that details are important in running a business and they must have a “dot the ‘i’, cross the ‘t'” person filling these functions.

Likewise, those who see themselves as “geeks” are great at detail, but are not comfortable with the self-promotion and personal contact necessary to create prospects and generate sales. So, the challenge for the geek business owner is to recognize the importance of the sales function and ensure a sales type is in it.

So, it’s far more important to recognize that a successful business requires all personality types working together than it is for the owner to posses a particular personality style.

Everyone wants to be successful in business! In part 2 we’ll discuss what your definition of success should be.

Balancing Business Ownership

I am a Spiritual Life Coach and have my own coaching and training business. I was part of a Woman-Owned Business Networking Class last year at the local community college and was invited to the class this year to be a guest speaker. The college asked me to speak on “Balancing Business Ownership.”

I was very pleased to be asked to speak, because I love to talk about the importance of balance in our lives. However, there were so many things I wanted to share with the class and I only had about thirty minutes for the presentation.

So in preparation for the talk, I did what I always do when I need my thoughts to flow – I got quiet and still and listened to the voice within. I then went and exercised at the gym and only then did I sit down to write.

The following are the key principles that began to flow and what I shared with the class that night. They have served me well in all areas of my life, but are especially important and critical as you attempt to manage your own business. I trust that they may be useful on your journey.

1. Remember Your “Why”

It is so easy to forget our “why” when we are so busy with the “how” of the business. Your “why” is the reason you got into the business in the first place. Your “why” is your purpose, destiny, calling and cause. It is what excites and motivates you. It is what brings light and joy to your life.

In business ownership, however, you may not have others around you, like a boss, to remind you of the why of the business. So you have to continually remind yourself. You have to continually share and speak your “why” to others. Each time you share your why, it becomes more of a part of you and your consciousness.

In the weekly meetings at the community college, each business owner had to introduce themselves and their business. At times, this exercise seemed so repetitive and unnecessary. Why did we have to do this every time we met? But what happened over the course of our meeting together was that each business owner learned how to refine their message so that the essence and soul of their business was revealed. Having to share who we were each week helped us to really become our “why.”

In addition to being able to powerfully speak your “why”, you want to ensure that your “why” is on paper and is visible. This is especially true when things are tough and not flowing the way you expected. Post your why in as many places as necessary. Post it so you can see if often. They say that “seeing is believing”, so make sure you see yours daily.

In almost every business you enter today, you will see a vision and mission statement. If someone comes into your business, will they see your “why”?

Remembering your “why” and sharing your “why” may be one of the most important things you can do for yourself and your business.

A wonderful resource if you are reflecting on or want to refine your cause, calling and destiny is the book – Inspire by Lance Secretan.

2. Staying focused but yet having fun in the process

I am one of those people who initially resisted putting together a business plan. Okay, I admit it; I love spontaneity and am a free thinker. I thought a plan would box me in and limit me. In fact, it is just the opposite. A plan gives you a road map and a compass. A plan helps you know that you are moving in the direction you want to go.

I put the concept of a business plan in this section because having a business plan allows me to have fun in the process of business ownership. I can have more fun because I have a focus.

I can have fun because I am continually planning and revising my plan. Having even a basic plan supports me from getting overwhelmed and over my head.

And speaking of “head”, I have to add a comment here about “staying out of our heads.” Staying out of our head is about not second guessing ourselves. It is about not worrying about last week, the last customer or the last mistake. Staying out of our heads is about staying focused on the good things we are doing. Trust me, there are so many more good things that you are doing in the business than bad.

To support us in staying out of our heads, you must guard who we let into our “heads.” Be sure to surround yourself with positive, caring individuals who also believe in your dream and “why”. It takes so much energy to try to convince others of why you are following your dream. You expend so much energy and they still don’t get it. Keep this simple – find a circle of supporters that believe in you and will be there to remind you of how great you are.

These are the things that will help you stay focused and, most importantly, have fun in the process. If you find, that over an extended period of time, that you are not having fun, it is time to change something. When you stop having fun, you can no longer be as effective and as powerful.

3. Knowing when to say NO

I love talking about this principle, because it is the heart and soul of a happy and balanced life.

We will get to saying yes in the next principle, but the truth is that you will never get to yes, until you learn how to say no.

In business ownership, you must learn how to say no to clients. Not every client is your client. You are not going to be able to assist and help every individual that comes into your life. If you help everyone, there will be no one left for the other entrepreneurs.

Having a well thought out and identified “marketing niche” will serve you well in knowing who you should and should not serve.

As a life coach, I wanted to help everyone and was taking on anyone who needed anything. As you can imagine, my scope was too wide and I quickly became drained and exhausted. While I have lots of experience and expertise, I have particular interests, skills, and strengths. Once I learned to narrow down and identify my “niche”, I started to attract those individuals I could most serve.

Now, I am able to boldly say that I support individuals in “remembering who they are, having a balanced life, and living their divine purpose.”

Saying no is also about knowing when we have done enough for the day. If you work for someone else, there are specific hours and defined work for the most part. When you own your own business, you set the hours and the workload. Over time, you have to learn when you have had a good, productive day. It helps if you set some goals for that day. But even that is not the sole measure of when to stop for the day. Feeling exhausted and overwhelmed often comes when we have stayed too long on a project and are trying to force something to happen that is just not going to happen.

Listen to your body: it usually tells you when it is time to stop and return to your family and friends and seek your renewal.

4. Knowing how to take care of ourselves – Saying Yes to ourselves

Renewal is totally about knowing how to take care of ourselves. It is about saying YES to ourselves.

Knowing how to take care of ourselves is having a process in place where we, on a regular basis, do an internal check up on all of the areas of our lives.

One of the exercises I do with all of my coaching client is to have them complete “The Wheel of Life.” I ask them to look at the following areas of their lives and identify those areas that may require their attention. They reflect on and assess their emotional, physical, professional, life purpose, financial, intellectual, friendship and family, and love and intimacy.

Just like we take our car in for a check up and to check the alignment, tire pressures, and change the oil, we too need to regularly schedule maintenance on ourselves and our relationships.

What is it about us as humans, that we have to be in crisis mode before we make changes or do things differently in our lives.

It is not necessary to have a heart attack, or be on the verge of a divorce before we say yes to ourselves and to those things that are important to us.

We are only able to give what we have ourselves. If we are drained, depleted and running on empty, this will seriously impact our work. Ultimately, it will affect every area of our lives.

Building in regular reflection and exercise time is critical to developing and growing your business. Learning how to say yes to your needs is the greatest gift you can give to yourself and your business.

A wonderful resource/tool in this area is Just Enough by Laura Nash and Hoard Stevenson

5. Knowing when to ask for help

Attention all entrepreneurs – it is not a sign of weakness to ask for help. In fact, it is a sign of a healthy individual to know when they need help and to seek out resources and individuals when the need arises.

When you really know your strengths, you will know what you need to call forth to compliment those strengths.

Asking for help is a sign of strength and allows others to share their gifts and talents with you. Just look at nature and you will see how beautifully connected and interdependent all of life really is. We too were meant to be connected and supportive of each other in this same way.

I do admit that I had to learn how to ask for help and assistance. I thought that because I was in businesses for myself, that I was by myself. This is so far from the truth.

There are a host of resources, mentors and guides who are anxiously awaiting you call for assistance. There are individuals who have walked your path and have valuable lessons and experiences to share with you.

One of the first things I did, when I moved to my new home a year ago, was to get a Spiritual Director. How could I be a Spiritual Life Coach and not have one myself.

So, I invite you to be open to the support and fellowship that is all around you. You just have to open your arms and your mind and be willing to receive.

Working for yourself and having your own business is one of the most rewarding experiences of our adult life. How it plays out and whether it will be a rewarding and amazing experience, I believe, depends on: remembering your “why”; staying focused and having fun in the process; knowing when to say no; knowing how to take care of ourselves – saying yes to ourselves; and knowing when to ask for help.