One of the most important and often least talked about things when it comes to business opportunities, especially home based ones is the dependence on marketing and sales. Many people want to be in business for themselves, but they do not want to be "in sales". This notion is absurd. Business is sales. Business revolves around the exchange of goods and or services for money. How do you expect people give you money if you don't know how to ask for it? Having enough money to adequately market your business can be extremely helpful in launching any business and or business opportunity. Advertising is just one component of marketing. However all money spent on advertising and other marketing to get interested prospects is a total waste if you cannot "close the sale". Marketing is a lot more than advertising however, it probably is the most costly part of any marketing campaign. PR is part of marketing. Networking is part of marketing. Direct mailers and promotional pieces are part of marketing. Talking in front of interested groups is part of marketing. Three foot rule introductions such as walking up to someone handing them your business card and telling them what you do is part of marketing. Knowing what to say to anyone after they express even the slightest amount of interest is sales. Designing a website that encourages a visitor to buy is sales. Answering questions in a way that encourages someone to purchase your offering is sales.
If you are the kind of person that does not see the importance of sales and marketing in any business, don't become self employed. If you are the kind of person that sees the importance of it but just cannot do it, then you better find, hire, contract with, or partner with someone that can. Get it? Marketing money is a necessity but only if you can make the sale. There is no such thing as something for nothing. OK, the next post.
Friday, May 18, 2007
Thursday, May 17, 2007
Know Thy Opportunity
What is a "Business Opportunity?" In essence all franchises are business opportunities however not all business opportunities are franchises. When one is considering the purchase of a business opportunity it is highly advisable to "DO YOUR HOMEWORK" on the opportunity and also yourself. The vast majority of "business opportunities" require a considerable amount of marketing and or selling. Most "home based" business opportunities require the purchaser / new owner to get out there and "get the business". One must be very careful in making the determination as to whether they should part with their money when it comes to a business opportunity. As mentioned in a previous post, "Business Opportunity or Opportunity to be Taken Advantage of" twenty-six states require registration and disclosure of business opportunities similar to those being required by franchises. To see a list of these states you can go to,
http://www.ftc.gov/bcp/franchise/netbusop.shtm
Interestingly enough as of January 2007 business opportunities will no longer fall under the same federal statutes as franchises, most likely they will soon be getting their own. So, how does one make sure that what they are being offered what it is being made out to be? Ask questions and verify.
If you live in a State that requires business opportunity registration ask if they are registered to not only the offerer but also to the state. If you do not live in a state that requires registration take the name of the bus opp and put it into Google with the word "scam" next to it. Anyone who is ticked off and has posted on the web will have something somewhere about these guys.
Ask the owners who they are, their history, what they have done in the past, about their work history , names of their companies, enterprises, and anything you think is relevant. Asking for the names of people that have purchased and are happy has it's problems. How do you know that these people are not people that are just paid to tell you what you need to hear to buy? How do you know they are not just the same three people that the business opportunity seller uses to sell everyone? If your business opportunity offerer cannot provide you with the right kind of validation with regard to their offering, then move on. Call the Attorney General of the State where they do business. Google the heck of them and everything related to them. Remember it's your money and your time.
http://www.ftc.gov/bcp/franchise/netbusop.shtm
Interestingly enough as of January 2007 business opportunities will no longer fall under the same federal statutes as franchises, most likely they will soon be getting their own. So, how does one make sure that what they are being offered what it is being made out to be? Ask questions and verify.
If you live in a State that requires business opportunity registration ask if they are registered to not only the offerer but also to the state. If you do not live in a state that requires registration take the name of the bus opp and put it into Google with the word "scam" next to it. Anyone who is ticked off and has posted on the web will have something somewhere about these guys.
Ask the owners who they are, their history, what they have done in the past, about their work history , names of their companies, enterprises, and anything you think is relevant. Asking for the names of people that have purchased and are happy has it's problems. How do you know that these people are not people that are just paid to tell you what you need to hear to buy? How do you know they are not just the same three people that the business opportunity seller uses to sell everyone? If your business opportunity offerer cannot provide you with the right kind of validation with regard to their offering, then move on. Call the Attorney General of the State where they do business. Google the heck of them and everything related to them. Remember it's your money and your time.
Tuesday, May 15, 2007
Know Thyself - Skill Set
Successful people know what they know, they know what they don't know and they are able to find, hire, contract with then manage those who know what they don't know or do what they don't do well so the organization operates efficiently and effectively. Another age old adage is to "higher people that are smarter than you are".
Basically if you are not smart enough to know that you are not smart enough to know everything and or do everything well then you can stop reading here because this is not for you. No one wants to work with or for an arrogant ass if they do not have to, but even if they do have to, they will take the first opportunity to hit the road if an equal or better opportunity comes along where the don't have to work with and or for another ass. Oh, but I digress.
The bottom line is that if one wants to be successful in business, it is highly advisable to have a realistic self concept. No matter how "smart" one is, there really is only so much time in a day. Also, give the rate at which things change in this crazy world there is only so much time to stay current on all things that pertain to your business. SOOOOOOO, one must look at themselves objectively or at the very least have someone else help them look at themselves in that way and decide what they are good at, what they are not, what they have time to do and what they don't, then come up with a plan to get people participating in the organization in a meaningful way to get the job done. Managing them is a topic for another time.
Basically if you are not smart enough to know that you are not smart enough to know everything and or do everything well then you can stop reading here because this is not for you. No one wants to work with or for an arrogant ass if they do not have to, but even if they do have to, they will take the first opportunity to hit the road if an equal or better opportunity comes along where the don't have to work with and or for another ass. Oh, but I digress.
The bottom line is that if one wants to be successful in business, it is highly advisable to have a realistic self concept. No matter how "smart" one is, there really is only so much time in a day. Also, give the rate at which things change in this crazy world there is only so much time to stay current on all things that pertain to your business. SOOOOOOO, one must look at themselves objectively or at the very least have someone else help them look at themselves in that way and decide what they are good at, what they are not, what they have time to do and what they don't, then come up with a plan to get people participating in the organization in a meaningful way to get the job done. Managing them is a topic for another time.
Thursday, May 3, 2007
Business Opportunity or Opportunity to be Taken Advantage of?
Search the web and you will find business opportunity after business opportunity telling you that you can "start part time", "quit your job", "become financially independent", so on and so forth. While, there are a lot of great business opportunities out there, mixed in with them are a lot of not so good ones and also many that are outright shams and scams. Offerings that are deemed to be "Business Opportunities" are required to register and file in State which require them to do so; the number being 26 at last count. The list of the states which require business opportunity registration can be found at the following:
http://www.ftc.gov/bcp/franchise/netbusop.shtm
One must do a significant amount of soul searching and homework about the opportunity in question prior to "writing the check", and jumping in. This is the major area where prospective business opportunity buyers fail to spend enough time seeing if the opportunity is a good and legitimate one and also if the opportunity is actually a good fit for their personality and skill set.
Unfortunately some sellers of business opportunities sadly are not honest and ethical people and will set up elaborate systems to "encourage" the prospective buyer to buy. They will use the same people all the time to tell the buyer how good the opportunity is and that it is a legitimate one. In the business it's called "validation". Often a buyer asks, Who can I talk to that is doing the business now?". It is assumed that the people they direct you to, are actually "happy buyers" of their opportunity. Sadly, in many cases this is not true. Many times the person that a prospective buyer is calling is really not doing anything in the business or just someone that is saying that they are doing the business. While it is sometimes hard to be skeptical and ask the hard questions it is necessary.
Unfortunately there are a lot of people looking to separate others from their money by any means possible. In upcoming posts I will be talking about a lot of things that need to be taken into consideration with regard to self examination and also examination of any business opportunity or franchise prior to turning over your hard earned money and time.
http://www.ftc.gov/bcp/franchise/netbusop.shtm
One must do a significant amount of soul searching and homework about the opportunity in question prior to "writing the check", and jumping in. This is the major area where prospective business opportunity buyers fail to spend enough time seeing if the opportunity is a good and legitimate one and also if the opportunity is actually a good fit for their personality and skill set.
Unfortunately some sellers of business opportunities sadly are not honest and ethical people and will set up elaborate systems to "encourage" the prospective buyer to buy. They will use the same people all the time to tell the buyer how good the opportunity is and that it is a legitimate one. In the business it's called "validation". Often a buyer asks, Who can I talk to that is doing the business now?". It is assumed that the people they direct you to, are actually "happy buyers" of their opportunity. Sadly, in many cases this is not true. Many times the person that a prospective buyer is calling is really not doing anything in the business or just someone that is saying that they are doing the business. While it is sometimes hard to be skeptical and ask the hard questions it is necessary.
Unfortunately there are a lot of people looking to separate others from their money by any means possible. In upcoming posts I will be talking about a lot of things that need to be taken into consideration with regard to self examination and also examination of any business opportunity or franchise prior to turning over your hard earned money and time.
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