Selecting to venture out and start a business is one of the hardest decisions entrepreneurs have to make, leaving the security and income of a previous job, to invest in an uncertain future can be a daunting decision for anyone. But once the decision has been reached, the next step is to select the right business or business program.
When selecting a business opportunity to get involved with, you want to consider a few important issues. These issues may seem simple, but the majority of entrepreneurs do not consider all of them, and they are cost, marketability, industry profile, and income potential.
The most important issue to discuss is cost. This includes initial investment, the initial amount invested to purchase the business opportunity or program; this can range from a hundred dollars to several thousand dollars. Start-up cost is the amount you will need to start the business, either from home or in an office setting, the equipment you have to buy plus supplies. And finally there is the operating cost needed to keep the business going.
Marketability, is there enough sources of new business in you market to sustain your business venture? That is what is meant by marketability. Does the business opportunity or program provide you with a product or service that can be marketed to enough consumers to make investing in their program worth the effort? Continue reading