How to Find a Good Online Business Opportunity
If you have ever searched for a solid online business opportunity in Canada or the USA, you know that, not unlike the wild west, for every good opportunity offered there are a multitude of others filled with empty promises. In fact, wild claims of fortune woven into a carefully crafted ‘story’ is used in an attempt to convince you that your pot of gold rests at the end of their rainbow. Most of the time, however, THEY get the pot of and gold you are left with a rain-storm of dashed dreams and lost monies. So how do you make your way through the labyrinth of pitfalls to find a solid income generating online business opportunity? The Check List could be huge, however, in this short article we will concentrate on four fundamental pillars.
The Industry: There are 3 questions to ask when you examine the industry the prospective business is in.
- Is this a growing industry or one that is plateaued? If it is no longer growing then, no matter how good the company may be, the chance of building a great business is remote.
- Is this business just one among thousands of companies with similar products vying for the same customers in a highly competitive market? For example, two of the biggest industries, when it comes to companies offering endless numbers of opportunities, are health-foods and cosmetics. In fact, many companies in this highly competitive industry promote both. And, while they provide endless testimonials about how great THEIR products are, and what a difference they have made, the truth is that rarely is the product scientifically proven AND even more rarely is it completely unique.
- Do I like the industry? No business is without its challenges. Some days will be a struggle, so never join a business simply because you like the compensation plan.
The Company: Do they identify themselves? Recently I found myself searching for a specific type of service company to assist me with an online challenge I was facing. After doing extensive research I found something interesting and disconcerting at the same time. What I found is that many of these companies did not provide any way to reach them by phone. If you cannot talk to a real person, don’t waste your time, or worse, your money with that company.
The Product: Is this product needed? Is it unique, and does it fill a niche that is not being filled right now? I recently joined a company that is part of the online advertising industry. Online advertising is not a new industry but it is still growing like wild fire. On top of that, the company is providing a niche product that is needed and one that no one else is currently providing. If you can find a business opportunity that
a.) hits a niche market,
b.) provides a much-needed service or product, and
c.) meets a clearly-felt need then you are on the right track.
The ROI: No business-seeker buys a business just so they can say they own a business. They intend to make money. If you are not convinced that you will make money, then that business is not for you. Keep looking, and sooner or later you will find a perfect fit for you.