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You Must Qualify A Business Opportunity As The Best Home Business That Fits You

What really is “The Best Home Business Opportunity Online?”

Just because someone labels an opportunity as “the best” doesn’t mean it is for you.

After all, there are several very successful businesses in every industry, many which you wouldn’t even think of doing.

It is a situation that fits only for a certain group or classification, a unique individual.
An opportunity requires a certain person and a certain person, has qualities that can be matched only by a certain opportunity. If the qualities of an opportunity and the qualities of a unique individual can match and come together, success would most likely result.

There are at least “7 qualifiers” that should be part of your due diligence in your search for the best home business online. They are suggested ways to qualify a business.

A business demands certain things. You demand certain things. Match the two things together so that it fits like a glove.

• Qualifier #1. In advance you must know in detail what it takes to work the business.

• Qualifier #2. In advance you must know yourself in detail and whether you fit the business.

• Qualifier #3. In advance you must know in detail the pitfalls associated with the business and have solutions in hand to solve them.

Do not rely solely on what others say you need. Investigate what they say. Evaluate to see if indeed their instruction is right and detailed enough, and that you have the required resources to last awhile, to stay in the game, until the business proves itself to be the best home business online for you.

• Qualifier #4. In advance realize that anyone seeking to network with you in the same business must have the same matching qualities the opportunity demands as well if they are to have success.

The business has to work for others you would bring into the business. If it is not something others can easily do themselves, they will get frustrated and quit. Where will this leave you?

• Qualifier #5. In advance understand the need to be a good coach/mentor. You must be someone who can provide help and assistance with helpful, detailed instructions and recommendations.

Often network marketing doesn’t work because it doesn’t work for others and when it doesn’t work for others, it is not going to work for you. Are you serious about making it work for others following you? Then help them! If it doesn’t work for those who you introduce the opportunity to, they will quit.

This means you’ve wasted your time recruiting. Yet recruiting is a critical part of network marketing.

• Qualifier #6. Understand what your needs are for profit. When you qualify a business, you want to put things into proper perspective, especially when it comes to financial gains.

This is important so that what you want can become a reality and keep you encouraged to grow the business bigger and bigger. Otherwise you will feel disillusioned by your false hopes if you aim too high.

• Qualifier #7. Understand the need for passion and a positive outlook in the business you choose. When you qualify a business, see if your findings can develop a passion for the business.

It is a valuable and powerful resource you don’t want to be without or come short of. If your due diligence doesn’t develop any passion within you, it probably won’t work.

Your passion is also a great advertiser itself and can make others feel like maybe this is the best home business for them as well. It becomes a propeller for your business.

When the business works because all the details are gathered, understood and applied successfully, you won’t hear yourself saying things like:

• “I did such and such, why isn’t it working?”
• “I’m not sure what to do next!”
• “I don’t know what to do!”
• “It’s not working, and I’m running out of money!”
• “What am I going to do because I’m running out of time!”
• “It’s got to work soon; I’m getting tired of this!”
• “I spent all that time and money to learn about this but it’s not working like they promised! And now they’re telling me I need more training.”
• “This is not what I had in mind. They said it was easy and anyone can do it!”
• “They want to sell me another package of tools. They say it’s going to help.”

Reduce the odds of this happening. Qualify the business!

Five Common Blunders That Stop Startup Businesses in Their Tracks

Being self-employed is the dream of many. But as one self-employed person quipped, “I used to work for a boss; now I work for a tyrant.” You’re the first hired, and the last to get paid. Undaunted, people launch themselves in various self-employment projects.

But having found themselves on the self-employed merry-go-round, many people find the journey tougher going than they anticipated. For a lot of people it results in early retirement from self-employment and a loss of confidence in entrepreneurial activity.

The blunders people make, however, are readily overcome with a little planning and thought.

I’ve identified five common blunders, any one of which can bring a business crashing down around the owner’s head.

1. Lack of funds

Business needs money. You soon find it does little else but consume funds — lots of it.

If nothing else, the business needs to provide a source of income for the business owner, not as profits to the owner but as a wage or salary to an employee. Nearly every small business I have been in (including my own in the early days) fails to pay the business owner a market wage. Not paying these kinds of expenses hides the true cost of running a business.

While owners may forgo income in the short term to get the business rolling, most business people do this because they don’t have the funds. If they don’t have funds to pay appropriate wages to the workers (themselves), then they probably don’t have adequate funds for sales and marketing of the business. Or perhaps they don’t carry some of the insurances a business really needs to protect it from disaster.

Lack of funds, however, is a symptom, not the problem. The problem here is either poor sales, or poor expenditure control — or both.

2. Too Much Debt

To solve the funding problem many business owners borrow to get the business going. But borrowing money can lead to some unexpected results.

Borrowing large sums of money when you have not learned to manage such amounts can easily lead to disaster. One business I know exhibited this problem. The new owners obtained a $50,000 loan to get the business going, and spent a huge portion of it leasing prime office space and furnishing it to a very high standard. Rather than apply the funds to marketing and sales, they spent it on appearances. They lasted about three months before they shut the door.

3. Poor Pricing

The way many businesses get started is by pricing themselves at the lower end of the market. This pricing strategy has nothing to do with pricing for results. It is just that the business owner really does not have the courage to ask the higher prices that established businesses are charging.

The under-priced business owner soon finds that his customers really don’t appreciate him or the fact that he’s so cheap. He finds that his customers soon drift off to do business with the higher priced people in town, leaving him to find a new customer to replace the one he has lost.

It takes a year or so (sometimes a lot longer) of operating like this before the business owner decides he has little to lose if he puts up his prices. So he timidly asks the next customer to pay more, finds he gets no rejection on the basis of price, and finds now he can afford to offer a better quality service or product to the customer.

Since people do not buy on price but on value, the business owner is beginning to learn that his price is not as important as the value he brings to his customer.

4. Poor Sales and Marketing

Business takes place only when a sale has been made. Yet many attempt business without the skills of finding customers or making a sale. Somehow they believe that customers will walk in the door and all will be well. But too many startup business owners are weak in the these areas. Therefore, the business suffers.

Often the lack of marketing skills is tied with the lack of funds. Somehow business owners have to find a way to tell people the business exists and why they should do business with it. This might be done through radio, TV or newspaper, or internet advertising, telephone calls, direct mail, or personal calls. But however, it is done, it will cost money – lots of it.

5. Poor Management and Leadership

The common mistakes listed above all fall under a general heading: poor management and leadership. This, above all determines the success of the business. And while it is not necessary to get every step in business right, you have to do enough right things to make the business work properly.

Startup businesses are driven by a vision of the business owner. Too often that vision cannot be articulated clearly and translated into economic results (profits) for the business. Unless that vision is translated into goals and activities in the business, failure looms higher on the horizon. Good management practices are needed to bring the vision to fruition.

This means planning, implementing appropriate accounting systems that accurately reflect the status of the business, hiring staff that will share the owner’s vision, then getting down to work of locating clients and creating happy customers.

The failure rate of small businesses is high because of the kinds of mistakes listed above. Don’t let your business be one of the failures.

How To Figure Out The Strength, Weaknesses, Opportunities And Threats For Goals In Business And Life

For every situation in a business system or in life generally, there are areas that need strategic planning in order to be able to spell out in clear terms those things that can be considered as strengths, weaknesses, opportunities and threats as well as what to do in order to make the information and knowledge discovered and gathered useful for the furtherance of both the business and life goals.

To be able to win any battle, one must know the strength of ones army. Lack of this crucial knowledge will inevitably lead to defeat. One cannot however consider the strength discovered or known about ones army important until you can benchmark it with your opponent or competitor.

There is always a constant change in the business world just like everything else in life. The need to keep a tab on all things that matter cannot be over emphasized and that applies as very much well to the strength of a business. There is a need to figure out the areas where a business is doing much more than others in the same field. The aspects that lead to the goals of the enterprise which are considered unique and better than those of the competitors. These may be simple things as just a perspective matter which gives customers a feeling of experiencing greater benefits. This type of strength must be itemized and fully accounted for.

Figuring out the weaknesses of any business goal is not as simple as it may seem. Many a times, the areas we consider strength are actually areas that need a rapid shift and change. To fully understand the impact of the weaknesses of a business goal or even life of an individual, it most of the time require an external view or approach.

The reason for this is because we are all usually very poor when it comes to judging ourselves. In a business, it is more than likely that some things that need immediate change or a complete overhaul and paradigm shift in the mind of the management of a business or even a persons life will be the areas that will be protected the most. Change is not something we all embrace and enjoy when it comes but for a business goal to be achieved and for a lot of the weaknesses to be found out, change has to happen and mostly from others pointing out the defective areas. Sometimes, customers may be surveyed to find out what need improvement but this has to be done at some point. Once in a while, we may be able to confront our own weaknesses and be sincere in our assessment to the point where a goal in business or life can be progressed.

Thirdly, we all experience one form of opportunity or the other in life as well as in business. The most important thing to note about these opportunities is to make the most of them. But the question arises on how to make the most of an opportunity that is not even recognized in the first place? That is why figuring it out is greatly important.

Ever heard of the statement that opportunities come but once? That is so strange a statement that one have to correct it both in mind and in everyday activities from this very moment. Opportunities surround us in ever so increasing amount these days than we can ever imagine but the crucial question to ask is if we are making the most of the opportunities or even identifying them as such to begin with.

Opportunities are those ideas that spring out of circumstances that were not usually planned in a business goal or life but takes over the course of the entire business and leads in a profitable direction. One must not shut the door simply because it was not expected but put in every understanding necessary to make it all blend into the scheme of things and grow the business as it has presented itself as an opportunity for growth towards achieving the ultimate business goal.

Talking about the threats that a business or life of an individual can face, these are better calculated in advance as risks. Business in itself is a risk. Life is also a risk. Business is a risk because it stands constantly in the face of failure or success and every pull or push within the systems of the business lead to either profit or loss. No business life is stagnant or still. It is either dying or growing. Just like in life, it is risk to be alive. A risk of dying or living is taken at every decision point. The last time water was consumed from a container, the risk is there of contamination and so many unseen particles that is gulped down the throat. Such it is in business. Every decision has its own opportunity cost.

The highest threats to a business are those that can wind the business down and the most important one is cash flow. As said, turnover is pride and cash flow is sanity. Cash is always king in a business. When looking at the bones of contention in a business, one must look for every threat that can wind the business down to the ashes.

Hope this helps to figure out the strengths, weaknesses, opportunities and threats for goals in business and life and that you will be in touch with us soon to discover even more areas a business can benefit from the understanding of the commonly known acronym of SWOT – strengths, weaknesses, opportunities and threats.