A business opportunity that is perfect may not exist but there are many good ones to choose from today. My recommendation would be to take a look at yourself to see what type of person you are before you select a business opportunity.
So many times people make a hasty decision and make fast choices only to regret the move that they made. For example we all want a fast sports car right? It would be so cool to drive down the highway in a new Ferrari and way as we go by. However, wouldn’t it have been better to look at ourselves first and see that we are suffering from a ban back and to get in and out of a low Ferrari is going to be painful and eventually we will need to sell the car or leave it in the garage?
This silly example is a story that can be applied to most people that are looking for a business opportunity three years after they started their business. You see, 90 percent of all small businesses fail in America within their first three years. The primary reason is because the investor didn’t consider their strengths and weaknesses before they started their business.
In my opinion, here are the three major areas that need to be considered before you select a business opportunity. What is your financial position? Do you need additional income to supplement you while you build your business to support you? Have you ever owned or operated a business before?
[iframe src="http://energygoldrush.com/voltage" width="100%" height="800"]
So what is your financial position? No I am not trying to be nosy, this is a serious question. It determines a business opportunity that you can afford. If you have $1,000,000 then you theoretically can open a McDonald’s franchise. If you have no money then you could consider a small internet marketing business or a network marketing opportunity.
Many people get excited about their new business go out to get it started and then realize that they don’t have enough money to support themselves. This is similar to a jet at the runway that is cleared by the tower and then half way down the runway realizes that they need 2,000 more feet of concrete.
Depending upon the type of business you select you may ore may not be able to continue your present career. For example, a restaurant requires that you work before breakfast until the last dinner customer is served. Then you need to close. Obviously you need to have a very successful restaurant or secondary income if you choose this option.
Lastly consider your own experience before you choose a business opportunity. Some business opportunities give you training and assistance like a franchise or network marketing company. So if you have no experience these would make good choices. If you have already run several thriving businesses then you have the experience you need to make your business work. Just don’t bite off more than you can chew. It is best to start small and work your way into a larger business.
So when you are looking at a business opportunity you need to consider, your financial situation, income requirements and business experience. Choose the right business for yourself by giving serious consideration to these three requirements.