Wednesday, November 25, 2009

10 Factors When Choosing An Online Business

Lots of people are interested in home businesses to make a little extra cash, to help pay the monthly bills, or to create financial freedom and security. Either way, an internet business can help you.

There are some good ones, but unfortunately, there are a lot of "scams" - so be sure to do your homework. The trick is to find a good one; don't waste time or money chasing empty promises or pipe dreams.

I used the following questionnaire to find my internet marketing business - a similar process should work for you as well.

1.  Legal?

If it sounds too good to be true, it probably is. Be sure to do your homework first.  If you have questions, check with the Better Business Bureau.

2.  Sought After Product?

Would you buy this product? Would your friends or family members?  A lot of home businesses go after small markets that may not be large enough to make you any real money.  Is the market for this product already saturated? Room for your product?

What we want is a large, hungry, market that will buy from us now; and buy additional products later as well.

3.  Generous Profits?

Is there a big enough profit to be made by selling this product to make it worthwhile?  Expenses will eat away at your profit margin - be sure to consider them.  After all, there will be a number of start-up and ongoing expenses to consider.

4.  Reasonable Competition?

It's very difficult to sell a product – even a very good product, if there are tons of other people giving it away (or selling it for far less than we are)?

Similarly, it is very difficult to make a sale if you can't even get your potential customer's attention.

5.  Realistic Commissions?

Can you make a profit without an army of customers?  Is that realistic?

Is the proposed commission reasonable? Will you get paid fairly for your contribution?

6.  Automated?

Personally, I'm looking for a business opportunity that doesn't require very much of my own time and effort.  I want to remove myself from the success equation.

The best home businesses I've seen have systems and processes that will work for you 7x24x365 – whether you're spending the day at the beach with your kids, laid up in the hospital, or sailing around the world.

7.  Targeted Visitors?

Do something every day to increase the quality and volume of targeted traffic to your business.  For online businesses, the key is targeted traffic.

Will your up line help send you quality traffic?

8.  Sponsor Training?

Seek out training from your upline.  You could muddle along on your own, but such an approach is more likely to fail than succeed.

So, another key is to make sure that your sponsor provides adequate training.

9.  Available Technical Support?

Computers are necessary for today's businesses.  For online businesses, that computer will likely be yours.

For internet marketing businesses, a lot of the technical support will be needed up-front, getting your system set up before you can even start doing the business.  You'll need good technical support.

10.  Customer / Sales Closing Support?

Regardless of the product you sell, there may be problems, returns, changes, upgrades, etc. involved.  You'll also need adequate back-office support.

Look for businesses that also include customer and sales support.  Opportunities that provide sales support score high with me.

Winners act; losers don't.

Evaluate the opportunity against this checklist. Don't wait, act now to secure your future.

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