How to Find a Good Business Opportunity
Want to find a good business opportunity? Don’t know what factors you should be considering? You're not alone. In fact, many individuals who are unhappy with their existing job or have the desire of creating a secondary income stream, jump on the first business opportunity they find. Unfortunately, they often discover that getting involved in a bad business opportunity can be incredibly costly and discouraging. While the idea of the opportunity might be great, it simply might not be a good fit for you.
The fact is people are different and have unique skill sets, time requirements, and other personal variables. This can cause someone people to excel in some areas, and fail in others. Some people don’t mind sitting on a phone and making 100 calls per day, but for others, it is worse than having their nails pulled off with pliers. Understanding these factors is critical for your success and why at SmartGuy.com took them into consideration when building our affiliate program. Our goal was to make it easy, fun and profitable for our affiliates. So, here are a few general things that should help you find a good business opportunity.
The product or service will meet a need.
You must be sure there is a need for the product or service. Does the product or service solve a problem for customers/ clients? Businesses, for example, will always have an ongoing need for customers or clients. It is a matter of survival. For businesses, it is about finding a fast, convenient and cost-effective way to generate ongoing clients.
Many business owners have tried to generate leads for their business, utilizing ineffective and wasteful marketing attempts; however, virtually every business will agree that the highest, best quality lead they can get comes from a referral. The ability to generate existing local referral partners, and with that, an endless supply of quality leads, would be an answer to their prayers.
Will the opportunity work where you live.
Many opportunities offer a great product, but it's important there is a specific need for it in your particular location. For example, it might be easy to sell ice in the desert, but perhaps not in Alaska. There has to be a demand, and unfortunately that is also very location-dependent. One thing is for sure, every company in every location needs clients and referrals. They always have and they always will.
Having the necessary resources to help the business succeed.
Are you going to be able to afford the resources needed to help the business succeed? Do you have what it takes to run that type of business right now? Here are some factors to consider…
- Is there a large upfront cost to start the business?
- Will you need expensive office space?
- Do you need to work 8 hours a day?
- Does it require driving?
- Does it require other expensive equipment?
- Will you need to hire employees?
- Will you need to hold inventory?
- Will it require expensive marketing to promote?
- Will you need to buy office furniture?
- Will you have to travel?
- Will you need to ship items?
With SmartGuy, there is no hardware, software or big learning curve. There are no large upfront costs (just the monthly leader fee), no driving required, no major equipment (other than a computer and a cell phone), no office space, no need for employees, no inventory, no expensive marketing, no furniture to buy and no need to travel or ship items. SmartGuy realizes that the highest and best use of your time as a SmartGuy affiliate is simply introducing SmartGuy to others, and then letting SmartGuy take it from there. The more businesses that join in your city, the more money you make. For this reason, we designed virtually everything to be automated.
Can you provide the product or service at the right price according to the market.
Another important factor is the local market and the price. Can you provide the product or service at a price the market can handle? Will your price attract customers while still earning you a profit? At SmartGuy, we had no doubts our services would be needed since every business needs customers; however, we also recognized that businesses in a poor community could not afford the same price as those in an affluent community. So in order to be socially responsible, as well as help each city network grow faster, we offer businesses the ability to join for as little as $17 per month for the first year (on an annual contract). This price allows businesses to recover from that expense with only one referral.
But to help even more, we offer an additional 50% off for their first 10 businesses to join their local city network, bringing the price down to only about $8 per month for their first year! This helps our businesses, as well as our network leaders to quickly build traction in growing their city networks.
Is the timing right in terms of the market and your resources.
Timing is critical when evaluating business opportunities. The best opportunities launch when the timing lines up. It's also worth noting that even in a down economy (as in the case now), there could be a window of opportunity. It's all about considering the above points to decide if the timing is right for your idea. No matter where you live in the world, you would be hard pressed not to find businesses who aren’t struggling.
Between covid, business closures, increasing rents, rising supply and employee costs and more, businesses are struggling to survive. The one thing they need…the one thing that will help them survive, is leads. But not just poor quality expensive advertising leads, but high quality local referrals.There is no better, easier, faster and more cost-effective way to get quality alliance partners and referrals, than by joining SmartGuy…
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