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How to Investigate and Find a Suitable Business Opportunity Lead
Why Look For Business Opportunity Leads?
There are many people who are driven to seek out an opportunity that they can develop in order to make money. They will be surfing the Internet constantly, browsing papers and magazines and continually thinking about how they can go into business and make an income. Yet these people are usually already working and earning a satisfactory income and many of them even know that developing a business is not going to easily replace the income from their current employment overnight. Still there is an almost desperate urge to find a business opportunity that suits them.
I empathize with these people because I have had that drive also. During the day I was earning a reasonable salary that allowed me to drive a decent car, go on foreign holidays and send my daughter to university. But I always yearned to be my own boss, and the thought of having a regular and recurring income opportunity that could perhaps supplement me becoming self employed in my profession was always very attractive.
Whatever your motives for seeking a new and profitable business opportunity lead, it is worth reading this article which contains some of the thought processes that I have been through during my research and the surprising conclusions that I reached in the end.
How do You Start Looking For Business Opportunities?
If you type “business opportunity leads” into Google you will be rewarded with a massive number of references to sites all of which will offer you unbeatable income earning programs that simply cannot fail. Try this as an experiment and perhaps amuse yourself by browsing a few of the sites, but do not start your business research in this way.
Being faced with such a bewildering range of businesses is not a good way to start – how do you sort the profitable from the poor performers, the outright scams from the viable businesses? The answer is that on the face of it you can’t – and there are an awful lot more hyped up waste of time programs on offer than there are decent opportunities.
The first step is to examine what you would like from your business. I suggest that it is pencil and paper time (or use your computer) to start a mind map concerning your aspirations. You will be throwing questions around like some of the examples I used myself:
1. What is the reason for wanting a business?
2. Am I desperate for money?
3. If I am not desperate - then how much would I really like to earn?
4. Do I want a short term income or am I planning for the future?
5. How do I want to work?
6. What are my skills?
7. What are my weaknesses?
8. What assets do I have?
Other Business Opportunity Leads
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- How to Make Money From an Ornamental Fish Business
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- Owning and Running a Shop
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Analysing Your Needs
It is impossible to provide a solution for all the different answers to the above and many more questions that you will be asking yourself. However, you will be the analyst and hopefully you will start to realize what the general look and feel of what your business aspirations really are.
For example, I answered the questions as follows:
1. I have always wanted my own business that I can run myself. The fact was, I just hated working for somebody else. Looking back, working for a large faceless organization was better than working for a small entity as you were more likely to be left to get on with your work - so long as your results were up to scratch.
2. I am not desperate for money but I would like to gradually replace the need for a day job and save a little extra for the future.
3. Within a year I would like to earn an additional $1000 per month rising to $2000 per month after two years.
4. As indicated in (3) above I would like to see some more income but the intention is for a long term business satisfaction.
5. I want to have a home based business.
6. I am moderately computer literate, I can write and I have a lot of interests. I could spare a few $100 from time to time to invest in my business without any problem.
7. I hate commitment and any business would need to be capable of being picked up and put down from time to time.
8. I have a study at home, a good computer with broadband access. I also have a reasonably flexible job that will allow me to put an hour or two work into my own business during the day.
When I put all this and some more into the melting pot I began to see the potential for using the Internet to sell products sourced from abroad. I began to get interested in import and export agency work and considered importing fishing tackle from Africa. This was not what I really wanted immediately, and my ideas began to migrate towards affiliate marketing. In the end, I have come to the conclusion that I do want to sell – using the Internet as my shop front. Promoting web sites requires a lot of article writing if investment in pay-per-click advertising is to be avoided (but this is on the back burner for the future).
It is worth considering writing content for interesting and useful blog sites and the trick is to choose the subjects that are both interesting and useful. Writing posts that tell a reader "how to.." do something are highly sought after but of course if you were writing about giving up smoking or losing weight you would be up against some steep competition. Choice of subject is critical.
Setting up a Wordpress blog site can be an easy home business idea to start but will take effort and time if you want to succeed.
The Final Business Opportunity Lead?
My interests in business, criminal justice, scuba diving, fishing and health related issues means that I have the skills and ability to promote web sites covering these areas. As I learn how to promote web sites using “Search Engine Optimization” techniques I am also learning how to make a significant residual income (recurring income) from affiliate marketing techniques. The long term goal will be to gradually turn the sites over to actual physical sales as and when I am able to locate the right products at the right price – this has started with the sales of “e-books” that can be downloaded from the sites. The business will be developed at all times using virtual assistance and outsourcing much of the administration – while remaining based at home.
Valuable Resources For Business Development
1. Easy web site development and promotion techniques for $1 through the Keyword Academy.
2. Outsourcing article writing and virtual assistance services through Elance outsourcing.
3. Sourcing a vast range of products for import, resale and agency made incredibly easy through Alibaba.
4. Testing products and ideas through eBay – it costs virtually nothing.
5. “e-books” for downloading from you site – choose appropriate titles for free from Clickbank.
6. Google – not only does the most popular search engine company provide easily used “pay per click” advertisements (Adsense) free for you to use on your web sites, it also has a huge wealth of customer support information sheets for all aspects of Internet marketing and web selling issues.
Final conclusions - 2012
Since writing this Hub two years ago my business has been established and is earning me more money than when I was employed. However, it is not through the Internet!
I learned that you must have a good product to sell - if you write for a living then people must want to pay money to read what you are saying. You cannot make money simply by writing articles to simply promote web sites or revenue from ad-clicking.
I do use what I learned from promoting web sites to promote my business - as a consultant (happily) doing what I did when I was employed. I write because I enjoy writing, if anybody wants to pay me for that now or in the future then this is a bonus!