Finding the right offline business

Finding the right offline business

Image courtesy of FreeDigitalPhotos.net and Ponsulak

There are a lot of options for people looking at alternative means of income from the corporate life. MLM, Network Marketing, and Direct Sales are just a few aspects of business that have traditionally helped people achieve some level of financial independence.

No matter the company you’re looking to start, or get involved with, there are certain factors you need to consider:

1) Start up cost: Is this a McFranchise that will cost you tens of thousands of dollars? Or a MLM type company with a minimal start up cost? What is your budget? Do you need to get a business loan?

2) Training and support: What kind of training does the parent company provide? If this is your own business, what knowledge do you bring to the table? Do you have a business plan? Do you have a marketing strategy? Do you have partners that have complimentary knowledge to yours?

3) Staff and Employees: Look at how many people you’ll need to help you get started. What kind of personality do they need to succeed? It’s always better to work in a team and leverage your time. What kind of training will you provide your employees?

4) Automation: Most importantly, can this business run without you? When you’re on vacation, are you going to be constantly thinking about how things are getting done? Is this a business that will produce income even when you’re sick? The key here is to make money even while you’re sleeping. If a business can’t run without you, then you’re not truly a business owner…you just own your own job.

5) Growth: What potential does the company have to grow? Can you offer new products and services? Are they stuck in an archaic way of doing things? What ideas do you have for improvements?

Generally, you’ll know it’s a good business idea if, after going through the logistics, you can’t sleep at night because you’re too full of ideas and excitement. At that point, it’s just a matter of channeling that excitement into a executable business plan.

 

 Think about all the extra money you could make by being a mystery shopper, starting your own business, or working from home for a legitimate company.  Take control of your income and check out our LEARN page for a list of classes, books, and more!

This entry was posted in All, Create Passive Income, Featured, Work for Yourself and tagged , , . Bookmark the permalink.
0 comments