9 Pointers for Evaluating a Business Proposal
Finding a business opportunity on the net is easy. But evaluating the right one for you, takes a little knowledge. With so many scams, takers and failed ventures you need a little more than the, "highest dollar for the least amount of work" approach. So what should you look for when evaluating an opportunity? Here are 9 pointers. 1. Is it legal? Do they have a product? Many programs on the net are simply "money movers" with no real products. If this is the case then it's probably illegal simple as that. If you are serious about developing an online reputation for quality and reliability, then don't even entertain the idea of quick easy money. It will catch up with you! Do they know and follow the law concerning matters such as CAN SPAM and other website legalities? There is no excuse for ignorance on the net! Do your home work and check out:
http://www.wilsonweb.com/wmt9/canspam_comply.htm
http://www.ipcgold.com/ad/112/CD996
Do a search on the names of the owners and founders of the products. 2. Does their product have value and advantage? Is the product something that people want with the potential for repeat sales giving value for money at a competitive price? Do your homework. Search the net for equivalent products and do a price comparison. Does it offer a marketing advantage of some kind? What are the selling benefits of the product over their competitors? If they don't have a marketing advantage why would anyone buy their products? 3. Is it residual? The best opportunities are the ones that have a growing industry and ideally repeat sales. Make sure if you are marketing a product that you get the benefit of the repeat sales. This is called residual income. If you are expected to find customers but only get the benefit of the first sale, this is unethical and unfair. It is a good idea to evaluate what % is paid back in commissions for the cost of the product or service. All good opportunities pay back an absolute minimum of 20%. Decide you are worth at least that much to them. 4. How long will it pay? The world is a fast changing place. The cyberworld is even faster! Ask yourself where will the product be in 12 months, 2, and 5 years down the track? This is particularly important for digital and information products. Ask yourself the same about the company. Are they around for a quick buck or do they have a plan to establish long term commerce? Will they develop or keep up with new technologies to maintain a competitive edge? If this information is not readily available on their website, ask them. If they are not planners then they will not survive 5. How long will it take? Take a long hard look at their compensation plan and compare it to your own goals. Is it cost effective on an hourly basis for the final outcome. You may have to make a decision by balancing time for outcome. You may consider it worthwhile putting in 20 hours work over and above a regular 40 hour job for a small return initially, if the final outcome is say 10 hours per week total for a 5 fold income. Of course you will have to decide first of all exactly how much time you are willing to work on the proposal then ask yourself is their program sufficiently automated to be worth your while? 6. Do they want your success as much as their own? What is their commitment to you in terms of training and support? If they are not willing to train and support you for your success, are you willing to carry the responsibility of training yourself and dealing with product problems? In my opinion you must have online support and training for whatever you need to do for the mutual success of both you and the company. This can be in the form of email support, forums and a FAQ (frequently asked questions) page on their website. 7. What are the hidden costs? Ask yourself, "What do I need over and above their proposal in order to achieve my goals", then factor this in to your decision making process. In this you should include things like further study, tools, web hosting expenses, stationary, travel expenses, accommodation etc. It is also important with some businesses to find out if you have a minimum purchase requirement, frequency of compensation and the time period between sales and commission. All these will affect your cash flow. You should then work out exactly what it takes to firstly break even, then become profitable and finally achieve your goals. 8. Is their a lead generation system ? What assistance is given for approaching potential customers through to closing the deal? This is often non existent with you left to do it all. The best opportunities are fully automated for efficiency but flexible enough to have the essential personal touch. It can be hard work sifting through the opportunities to find your "Ticket2Success". 9. Do they have a money back guarantee? Whether the product is digital or hardware people will expect a guarantee. Are you able to return and refund products quickly and easily with out problem? Is it clear who handles the finances and complaints in the event of an unhappy customer? You don't want to be left with egg on your face after creating a good online reputation! About The Author Ray Burton is an internet marketer specializing in affiliate programs, business opportunities, joint ventures and resources to create your online success. He has paid special attention to online training programs for new marketers. You can visit his store and collect a "ticket2success" at http://www.cyberchoices.net The mini site - mega store. r.burton@clear.net.nz
Related News
|
 |
|
|
RELATED ARTICLES
Harness the Power of the Internet
Whether you're a service business working to obtain clients, a manufacturer selling products, or a non-profit organization selling your good works, you must spread the word. You must speak up to be heard. Getting a response requires consistent and persistent self-promotion. It is a simple formula: Commit to marketing your services, and business will grow.
The Myth of Internet Marketing: aka The Golden Carrot
Why am I so mad I could throw my computer right out of my upstairs
window?
If It Sounds Too Good To Be True
You've heard that cliché over and over I'm sure, but it has never been more true than it is on the Internet.
Profiting from Articles - A Step-by-step Guide
"Content is King" - that's a given, there's no debate. But how do you get content? Like most projects, breaking into bite-size, easily digestable chunks makes the process realistically achievable. By creating articles, you build and develop that content.
So how do you profit from articles?
I, personally, find the best way to approach the 'process' of making mony from articles is to work backwards! That is, to determine what your ultimate goal is and then figure out each preceeding step that leads to it.
A Crystal Ball for Your Web Business
Are you considering launching an eCommerce website? If you are, you may want to take your crystal ball down from the shelf to shed some light on whether or not your business will fare well online. In reality, there is no magic to eCommerce at all, it is all about preparing, thinking and implementing your ideas and products using sound business techniques. Here are just a couple of questions to ask yourself before you get started:
Money Can Still be Made on the Internet
Even though the days of an IPO generating millions of dollars are gone, money can still be made on the Internet. How can you make money online?
Creating Your Own Internet Marketing Product through a Home Based Business
There are thousands of marketing tool kits available online for a whole range of prices, but what if you are not interested in buying someone else's tool kit and are more interested in creating your own internet marketing product and toolkit to sell. Well, there are plenty of ways to going about doing this.
What Happened When I Allowed The Mad Hatter To Take Over My Online Marketing
Returns had been steady since I created www.howtoproducts-xl.com back in December 2004. Steady, but not spectacular, so I decided to conduct a survey.
Profitable Online Marketing - Guaranteed!
When you boil it right down, there are really only three things that you need to do exceedingly well to market your business effectively online, and you should think of all three simultaneously with each new advertising campaign you entertain.
Develop Enormous Recurring Income Online Starting Today
If you're like me, you'd rather work smarter than harder. We all want more time to do the things we love, and to be with the people we love. On that note, why not take the steps to make this desire a reality? Here are ten ways to do just that.
Now, Even A Monkey Could Easily Accept Online Payments
I just came across this web site called PayDotCom.com
How to Turn Freebies in to Sales
You can increase sales and profits by offering freebies to people who buy your main product or service. They increase the over all value of your main offer and in return people feel they're getting more for less.
FREE Classified Advertising Tips to Boost Any Business!
FREE online classified advertising - the equation is simple. A business needs to reach out to more and more people on the Internet. Each website has a particular level of visitors, otherwise called traffic. In order to reach out to more traffic, businesses barter Internet online advertising space and thus increase traffic. This way, everybody wins. The businesses are more visible at no additional cost and the customer gets a wider choice of products and services. In addition, partner websites ensure better traffic for better business.
How SPAM Sells Sex, Greed, and Survival
The unsolicited email people react to most is what yells for money through our base needs involving sex, greed and survival.
Beneath the Surface of Internet Marketing
To most people Internet Marketing looks like a good way to make money from home, which is possibly the main reason while people start. The shame is that people like this don't realize that they are only scratching the surface. The aim of this article is to make sure you don't become one of them and miss out on what lies beneath the surface of Internet Marketing.
3 Simple Steps for Revealing Marketing Secrets of the Experts
Learn the easy method I use to reveal marketing secrets. Details of my findings using this method are also disclosed.
The Power Of Free
Free can set you free...
How To Take Advantage Of Your Competition
When people market their business, they pay little attention to their competition. However, they can learn a lot from them. Your competition plays a large role in your business and in your marketing efforts, so don't ignore them.
How To Make Make Money From a Website
I've had numerous conversations with web entrepreneurs about this topic and many of them agree that the revenue models for web business are often poorly thought out and depend too heavily on advertising for success. Back in the DotComBoom it was accepted that you didn't have to worry too much about your revenue model, it was all about investment capital and IPO's. Of course this eventually led to a crash and nowadays web business, like normal business, has to show sound revenue models and profit forecasts. They need a sustainable way to make money - who would have thought that!
Why Niche Marketing Yields Good Profits
Have you ever been told to find your niche? In business, finding your niche can prove both profitable and personally rewarding.
|
