Home Business Ideas
Many People come to me ( or call!) and want to know what I think they should do when considering a home based business idea.
Ive printed this one before, but here it is again for those of you who haven't read this info before...
This post brought to you by the Superior Auto Institute-where Paintless Dent Repair Training and education reaches the pinnacle of possibilities.
When considering a home based business idea, here is the first thing I recommend that you consider (this WILL be unique-other rarely suggest this)
A) Is this Idea something YOU would ENJOY doing? If so, for how long?
Why is this important? Well, in life, more things are to be considered other than money. Hard, smart work can reap benjamins my friend, but enjoying your life is something that should be near or at the top of your list. You only have one, so make it valued. Do something YOU LIKE!
B) How much TIME do you need to invest in this Idea?
The answer to this question is often elusive. I recommend a highly concentrated study and research effort with this topic. Time IS money, so you better know how much is needed to build and develop and run your new business idea.
C) What is a REALISTIC forecast of 1st, 2nd and 3rd year profits?
Well, if youre going to put in the time, you gotta know the dime I always say.
So, get your pencil, your research data (street research, dont rely on others skewed data) your calculator, and then punch out what you should see within reason. If it meets your goals, then check this one off, if not, then move on.
D) Barriers to entry and Competition: This is important- How EASY is your business idea to duplicate/copy and how much competition currently exists?
If you are going to put your hard time and energy into this, what does it take to have someone either copy your idea or someone elses in the same field/business? The harder your idea is to copy, and if there is very little competition, the better the chance you can make money, and for a long time!
E) Consult your spouse or family. I know, many of us have some pretty crappy family members or spouses, or both, but they should have our best wishes in mind and should be able to offer up some objective advice or opinions in the event you become jaded or unobjective with your new business idea!
F) Thats IT. The remainder of your due dilligence is as others would have you do-check out the idea, even test it if you can. You can also check your potential competitors. I cannot emphasize how important it is to do you research in detail and try to be as objective as possible. The future depends on it!
This Home Business Idea is brought to you by The Superior Auto Institute
Ive printed this one before, but here it is again for those of you who haven't read this info before...
This post brought to you by the Superior Auto Institute-where Paintless Dent Repair Training and education reaches the pinnacle of possibilities.
When considering a home based business idea, here is the first thing I recommend that you consider (this WILL be unique-other rarely suggest this)
A) Is this Idea something YOU would ENJOY doing? If so, for how long?
Why is this important? Well, in life, more things are to be considered other than money. Hard, smart work can reap benjamins my friend, but enjoying your life is something that should be near or at the top of your list. You only have one, so make it valued. Do something YOU LIKE!
B) How much TIME do you need to invest in this Idea?
The answer to this question is often elusive. I recommend a highly concentrated study and research effort with this topic. Time IS money, so you better know how much is needed to build and develop and run your new business idea.
C) What is a REALISTIC forecast of 1st, 2nd and 3rd year profits?
Well, if youre going to put in the time, you gotta know the dime I always say.
So, get your pencil, your research data (street research, dont rely on others skewed data) your calculator, and then punch out what you should see within reason. If it meets your goals, then check this one off, if not, then move on.
D) Barriers to entry and Competition: This is important- How EASY is your business idea to duplicate/copy and how much competition currently exists?
If you are going to put your hard time and energy into this, what does it take to have someone either copy your idea or someone elses in the same field/business? The harder your idea is to copy, and if there is very little competition, the better the chance you can make money, and for a long time!
E) Consult your spouse or family. I know, many of us have some pretty crappy family members or spouses, or both, but they should have our best wishes in mind and should be able to offer up some objective advice or opinions in the event you become jaded or unobjective with your new business idea!
F) Thats IT. The remainder of your due dilligence is as others would have you do-check out the idea, even test it if you can. You can also check your potential competitors. I cannot emphasize how important it is to do you research in detail and try to be as objective as possible. The future depends on it!
This Home Business Idea is brought to you by The Superior Auto Institute
posted by fatass at 9:21 PM
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