Yesterday we reviewed one reason why some Home Based Businesses (or Internet businesses) may fail. We discussed how some may start and stop business without fully thinking through why they are stopping. One possible reason why someone who started a home based business and then stopped it could be that they did not fully understand the business they were getting into. As we have discussed in prior posts, sometimes people offering business opportunities (home based businesses) may talk the great talk, and get you talked into something that sounded good at the time, but once you got home and started to work the business, you really had no idea what you were getting into.
It is very important for you to understand the business you are going into. You need to understand the need to generate value with that business. If you let someone else talk you into a business opportunity that you don't fully understand, you need to stop and do research before getting involved. You need to find out for yourself (not the person trying to sell you the opportunity) what the market really is, what the demand is, is this item a viable and marketable item? and is this something that you can really get behind?
If this is a new product/opportunity that has not been introduced to the market before, and you can't find any other experts to ask, go ask your trusted friends to look into the opportunity and give you their advice. If you have real friends, they will let you know if it looks like you may not want to get involved. If they think you are off your rocker for this idea, take a look again at the opportunity. Again, if it is something you truly believe in, you may want to continue anyway. If you find it is something that you still can't get your arms around, you may want to back off and do some more homework. There is nothing worse than getting involved in an opportunity that after investing some good money and a lot of time to discover that you still don't understand it and that you still can't get fully behind the idea. You may find that you spent the last 6+ months struggling with this opportunity only to discover that it really doesn't fit into what you want to do or what you believe in.
If your friends don't understand the opportunity, find some experts in the field (try to find experts that are unbiased towards the opportunity). Depending on the opportunity, you may want to talk with professors or teachers. If it is cutting-edge technology, find others in the field and ask them. Be sure you understand what you are getting into.
You should be able to answer a few questions before getting into the particular business: What is your customer's biggest fear or frustration? What is their biggest desire? Is this a product where your customer can become emotionally motivated (they LOVE the item...).
Hopefully this was helpful if you are looking for a home based business opportunity. If you would like to discuss some of your questions, please feel free to e-mail us at hawgwash1@yahoo.com. Otherwise you can see what we have to offer for second income opportunities or home based business opportunities at www.hawgwash.net. We would be more than willing to talk with you about what you are looking for and hopefully help you to find the business that suits your desires.
Until tomorrow...
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