Choosing A Business Opportunity: Q&A

Choosing a business opportunity

Choosing a business opportunity is a confusing task

Business opportunity selection is a daunting project. First of all there are thousands upon thousands to choose from, not to mention your own ideas. And of course, there are not only countless opportunities, there are multiple paths for getting started. The more you study, the more confusing the process can become. Here are some thoughts to consider.

Why Do People Start Looking Into Business Opportunities?

There are at least three answers to that question. Two are quite obvious, but a third is less obvious. First, it’s a learning experience that satisfies a curiosity. Second, as one’s knowledge grows, the more of an information resource one becomes. Consider this: most teachers of business have never owned or operated a business. But if they’ve studied various business opportunities, they could have a greater knowledge base from which to draw. The third reason is most interesting. Polling data show that the vast majority of adults would prefer self-employment, but only a very small percentage (1%) actually become self-employed. So, investigating options is popular while follow through is not.

Why Do People Consider So Many Options?

As just stated, the number of business opportunities available is staggering. So it follows, the more you investigate the harder the narrowing process becomes. The trick here is the same as choosing anything. Stop wasting your time with things that will never become your reality. Men who don’t like fashion should not be looking into boutique clothing stores. Women who don’t like changing tires should not be looking into automotive options. OK, those might be extreme examples, but you get the idea. Even if a particular business is potentially profitable, don’t look at it if you don’t like it. Choosing a business opportunity is a lot more involved than just profitability. Stay away from the obvious.

‘Hot’ Opportunities

Forget the idea of ‘hot’ businesses. There will always be trends. They are here and then gone. Try not to be swayed by hype. If it’s a good business it will be around for a while. And if it’s particularly good and you missed the initial opportunity, there will be plenty of copycats down the road.  Never choose a business opportunity because it’s supposedly ‘hot’. It always should be about YOU.

Choosing A Business Means Choosing A Pathway

Choosing a business opportunity is only part of the decision making process. Once the type of business is known, you face the choice of how to get it started. Will it be an independent operation, a franchise, a distributorship, an affiliate, a partnership, existing or new? All manner of questions arise once the big decision is made, but let’s get back to that one key decision.

Choosing A Business Opportunity Should Revolve Around Just ONE Thing – YOU

The most important element in choosing a business opportunity is, has been, and always will be YOU! Nothing in a business will ever be as important as you, the owner. If you can truly digest and hold onto that notion you have a giant leg up on those who don’t understand it. If you can hold onto that fact and operate from that position you can slice through and dismiss countless business opportunities just by saying ‘that isn’t me.’

Now we’re going to promote something, something worthwhile. And yes, after many years of study, we created it. We’ve constructed a logical process, a system, specifically for prospective business owners to decide which, if any business, might be a logical choice. The Focus Program for Emerging Entrepreneurs will help you decide if self-employment is a wise choice and the types of businesses that might fit you best.

Entrepreneurship is a tough road to follow, but if it’s for you, you’ll know it and love it.