Make Sure You're Not Selling Yourself Short
Times are tough, and experts say the global economy is likely to get a whole lot worse before it gets better. Those who survive (and thrive) during the coming Greatest Depression will be the informed entrepreneurs who've taken personal responsibility - beyond holding down a job - to create jobs by founding a business.
Of course, you have to make a TEAM of investments (Time, Energy, Attention, and Money) to get into any business, and that never changes. These days, though, you can get into business in cyberspace for a fraction of the TEAM investment previous generations needed to open retail stores, car washes, or law offices. And there are plenty of online business opportunities out there. But which one's best?
First, think about whether you have a Big Idea that no one's thought of before. You can join someone else's ready-made opportunity, but you might be better served by creating your own. I have a friend who dreamed up an online motivation business, hired a team of technology experts to help him create the web sites, and built an online business from scratch. That took a major investment, but he is in a position to reap the major rewards.
Assuming you're more likely to join an existing platform, find a reputable business. There are lots of fly-by-night "opportunities" advertised online, so you have to do the research to make sure the business you're getting into is legitimate. Do they have a track record? Are others making money with that opportunity? Do they provide excellent training and coaching for newbies? Great platforms are out there, but before you invest, check the business thoroughly.
Do business with a product or service that's in great demand. For instance, the hot topics for online businesses today are in the areas of health and wealth. Find a reputable business in one of those areas to maximize your chances for success.
And do you stand to make a good amount of money for each sale? Let's get real: you can't do business without selling. You might be able to attract a fair number of customers through web sites and emails, but at the end of the day, you have to close the sales. If you have a passion for selling pills and potions, how many do you have to sell to make a living? You have to make a LOT of fifty dollar commissions to equal what some online entrepreneurs make in a single big-ticket sale, which can run into five figures of commission income.
Finally, don't just sign up and expect riches to rain down on you from Heaven. Make sure you have a solid marketing plan, and that your business is sufficiently capitalized to permit you to properly equip it (outsource your prospecting, buy leads, etc.). Don't just buy a handful of magic beans and expect a giant beanstalk to sprout in your backyard overnight.
You can realize the benefits of a successful internet business - freedom, flexibility, financial security, and fun - but you have to make the right choices as you set your business up. Be savvy, but be bold. Those who have the guts and make the investments in their own businesses will lead the true recovery in the global economy over the coming months and years.
by Michael D. Hume, M.S.
Michael Hume is a speaker, writer, and consultant specializing in helping people maximize their potential and enjoy inspiring lives. As part of his inspirational leadership mission, he coaches executives and leaders in growing their personal sense of well-being through wealth creation and management, along with personal vitality.
Michael and his wife, Kathryn, divide their time between homes in California and Colorado. They are very proud of their offspring, who grew up to include a homemaker, a rock star, a service talent, and a television expert. Two grandchildren also warm their hearts! Visit Michael's web site at
http://michaelhume.net
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