5 Step Process To Analyze Any New Business Opportunity
Our many years of dealing with entrepreneurs, numerous seminars and training has shown us that there are 5 steps which should be followed when looking at a new business:
- Having the desire, which you must have or you wouldn't be reading this.
- Decide what types of businesses interest you and review some basic information to see which ones you want to get more in depth information on.
- Find unbiased independent information about the specific industry that interests you and then get details and proof about those details on individual companies. This should include getting to know the program offered, products and most importantly, the people you will be dealing with for years to come. One way of doing this would be our Video & Literature Package.
- Review the facts, figures, potentials, your interest level, possible problems and make a list of questions and things you need answered or solved.
- If ALL of your questions are answered to your satisfaction, then your next logical step should be to make a decision to actively pursue starting the particular business! This is what we call making a WANT TO decision. This does not mean you have put together all the necessary funds or have looked into each and every one of the specific operational details. Quite frankly, assistance with some of these details should be a part of the service provided by the company who is helping you get set up in business. You should have already looked at the market potentials, industry trends and gotten proof. If you have determined that this is something that you could enjoy doing, you feel comfortable with the abilities and expertise of the company you are associating yourself with and that you could make some money in the process, then you should say I WANT TO DO THIS! After you have made this commitment in your own mind, you will make everything else happen and they merely become details that have come between you and the achievement of your goals.
BY THE FACT THAT YOU ARE LOOKING AT THIS, YOU ARE PROBABLY AT THIS POINT IN THE 5 STEP PROCESS.