Home Based Business
Income Opportunity

1. Legitimate/legal. Any business opportunity that you consider needs to be legitimate and legal. There are many purported business opportunities online that are neither. The best ways to check out the legitimacy of any offer is to both check with the Better Business Bureau as well as  your State Attorney General.

2. Proven. While the promotional literature for some type of new fad may paint an attractive picture of the related business opportunity, you should avoid uncharted waters. If other people are successful in that line of business, it is evidence that success can be had. If it is a completely new type of business and nobody is yet successful with it, how do you know that success is even attainable?

3. Outstanding Demand. In order to achieve optimal success, every market opportunity which you contemplate ought to be highly desired. Regardless of the goods or services being offered, your chances of succeeding will be enhanced if the goods or services are very desired in the market.

4. Low initial start-up costs. Business is an inherently risky thing. Your risk grows with the start up costs. You should avoid businesses with high upfront costs, unless you have the experience and capital needed for success. If your start up costs are under $1,000 and the business doesn't succeed, it would be far less of a financial loss than if the start up costs were in excess of $250,000 and the business doesn't succeed.

5. Short estimated time to profitability. It feels like everything is so time consuming, especially when it comes to business. Developing your business to the point that the business turns a profit will take time. Your chances of success will be greater if you choose a business opportunity that has the potential to become profitable quickly. 

6. Long term potential. Remember Cabbage-Patch Dolls and Beanie-Babies? Although it may be possible for you to earn a bit of quick money by plunging into the most recent gimmick, in fact, conducting business is a laborious task. Choose a business opportunity that you reasonably believe will still offer excellent potential two decades from now. It would be tragic to spend a year or more building your business on a fad only to have the fad wither away just as your business is becoming profitable.


7. Scaled growth prospect. The dream of nearly every person who starts a small business is freedom; freedom from both time and monetary pressures. It is necessary to grow your business in order for your opportunity to provide you with the freedom that you are seeking. New employees must be hired. At some point a manager should be hired. The longer term goal is a well-run business that requires little, if any, of your time, hired employees take care of and manage every aspect of your business. If you really want freedom as a business owner, the venture that you choose must be capable of expansion to a larger scale project.


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