Thursday, January 24, 2008

Business Opportunity

Recipe for Success - 7 Effective Tips for Finding an Online Business Opportunity

By Samara Trevino

The internet is changing the landscape of business like wild fire, making it easier for the average person to start an online business opportunity. Literally, there are thousands of online businesses swarming the internet. Muddling through this information can be daunting. The big question remains - How do you choose the right online business opportunity?

Here are 7 effective tips to help you in your search:

Personal Development & Training: This is the key ingredient for success. Invest in yourself and your business will grow! It's critical to continually grow and develop yourself through high quality books, motivational and educational CD's and association. A business foundation deeply rooted in personal development and training is a recipe for success and longevity.

Sales & Marketing System: A solid sales and marketing system is essential to your livelihood. Select a business opportunity that has a proven sales and marketing system you personally can plug into. The key to a sales and marketing system is duplication. The system must be duplicable for you and your team. This is extremely important whether or a seasoned internet marketer or a beginner.

Compensation Plan: A compensation plan that first pays you as the business owner is very desirable. Be mindful of business opportunities requiring you to pass up your first few sales to your sponsoring team member. Consider the amount of commission you will earn per sale. Ready for the deal breaker? Find online business opportunities offering residual income as part of their compensation plan. Residual income is when you are paid on work or sales previously made. This makes things much sweeter for both you and your new team members.

Products: Select a company that has stand alone products. This means the products itself would be able to sell in the general marketplace without being attached to a business model/compensation plan. You must genuinely believe in your products - the success of your business depends on it. People eventually will see through the fluff and hype. Ultimately, you should be proud of your products and business.

Mentorship: Associating with like-minded individuals and entrepreneurs is vital for long-term success. Make sure you have access to successful people in your business and peers going through similar experiences. If you want fruit on the tree, you must find someone who has the results you want and learn from them. Mentorship when structured properly with a residual income compensation plan packs a powerful 1-2 punch!

Proven Track Record: Position yourself in a business opportunity with long-term vision and goals. A successful organization will have a mission and strategy that benefits not only the company, but the consultants too. Take in account how many years the company has been in business. Check the Better Business Bureau or Federal Trade Commission to see if there are a any complaints filed against the organization. As with anything, use your best judgment and intuition.

Enjoyment: This is the best part - aside from racking in the cash! It's so important to select an online business opportunity you will enjoy doing. If you don't enjoy building your new business, you won't succeed for very long. It's important to enjoy building the business and cultivating relationships with other fellow entrepreneurs or team members. When you enjoy your environment, it makes the process much easier.

Searching for an online business opportunity is the first step in your entrepreneurial journey. Don't overwhelm yourself with all of the information floating around in cyberspace. By implementing these 7 effective tips during your search, you will find the recipe for success. Now go out there and make it happen!

Samara Trevino is a home business consultant who enjoys building her online business with her husband Chris. Samara and Chris are passionate, driven and committed in helping as many people as possible realize they can achieve their goals and dreams.

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