8 Factors Creating New Business Opportunities
“Business opportunities arise from change, chaos, confusion, inconsistencies, ambiguity, uncertainty, ignorance, and emotion.”
– Tom Murcko
You may find yourself in the position of facing a great business opportunity and will need to get all you can from it.
Good Day, Today I am going to talk about my business opportunity adventure and the path that is been developing since I started in the Home Base Business career. It has been a long path with a lot of obstacles in learning to be an advertiser.
People think that joining any base home business, money is going to start falling from the sky, but the real matter is that it takes hard work just like anything that you want to make it succeed. It takes a while before your business starts producing some income, but is not just about making an income, is also about branding yourself as an expert on the matter.
I pick Youngevity because I think their products are unique and back up by an expert in nutrition Dr, Wallach. You got to meet the product, be the product and test the product, become the product yourself in order to believe and have confidence of the value of your products in order to have satisfied customers.
What is a Business Opportunity?
A business opportunity is a proven concept that generates on-going income. In other words, a business opportunity is a business idea that has been researched upon, refined and packaged into a promising venture that is ready to launch.
While multiple business ideas may strike you on a daily basis, only few of them will be profitable in the long run based on market research and feasibility study conducted. These few are the real business opportunities. An opportunity is regarded as one after it has been found to meet the following criteria:
- It must have high gross margins.
- It must have the potential to reach break-even cash flow within 12 months – 36 months.
- The startup capital investments must be realistic and within the range of what you can provide.
- You must have the strength and ability needed to drive the business to success.
- Your level of enthusiasm for the business must be very high.
- It must have the potential for residual income.
- It must have the potential to keep on improving with time.
- It must have a low level of liability risk.
After you have refined and packaged your business opportunity in your mind, you can have it documented by writing a business plan.
In conclusion, having a business that is failing doesn’t mean the final nail has been put on your business career. Be persistent in your approach to business and one day you will embrace success. You should also realize that failure is not the opposite of success, but a part of it.
If you will like to know more about YOUNGEVITY on a one to one basis fill the form below so we could chat an see if this is something you will like to do.