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9 Pointers for Evaluating a Business Proposal
by Ray Burton
Finding a business opportunity on the net is easy. But evaluating the right one for you, takes a little knowledge. With so many scams, takers and failed ventures you need a little more than the "highest dollar for the least amount of work" approach. So what should you look for when evaluating an opportunity? Here are 9 pointers.
1. Is it legal? Do they have a product? Many programs on the net are simply "money movers" with no real products. If this is the case then it's probably illegal simple as that. If you are serious about developing an online reputation for quality and reliability, then don't even entertain the idea of quick easy money. It will catch up with you!
Do they know and follow the law concerning matters such as CAN SPAM and other website legalities? There is no excuse for ignorance on the net! Do your home work and check out.
Do a search on the names of the owners and founders of the products.
2. Does their product have value and advantage? Is the product something that people want with the potential for repeat sales giving value for money at a competitive price? Do your homework. Search the net for equivalent products and do a price comparison. Does it offer a marketing advantage of some kind? What are the selling benefits of the product over their competitors? If they don't have a marketing advantage why would anyone buy their products?
3. Is it residual? The best opportunities are the ones that have a growing industry and ideally repeat sales. Make sure if you are marketing a product that you get the benefit of the repeat sales. This is called residual income. If you are expected to find customers but only get the benefit of the first sale, this is unethical and unfair. It is a good idea to evaluate what % is paid back in commissions for the cost of the product or service. All good opportunities pay back an absolute minimum of 20%. Decide you are worth at least that much to them.
4. How long will it pay? The world is a fast changing place. The cyberworld is even faster! Ask yourself where will the product be in 12 months, 2, and 5 years down the track? This is particularly important for digital and information products. Ask yourself the same about the company. Are they around for a quick buck or do they have a plan to establish long term commerce? Will they develop or keep up with new technologies to maintain a competitive edge? If this information is not readily available on their website, ask them. If they are not planners then they will not survive.
5. How long will it take? Take a long hard look at their compensation plan and compare it to your own goals. Is it cost effective on an hourly basis for the final outcome. You may have to make a decision by balancing time for outcome. You may consider it worthwhile putting in 20 hours work over and above a regular 40 hour job for a small return initially, if the final outcome is say 10 hours per week total for a 5 fold income. Of cours...
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