Seven Essentials For Successful Business Start Ups

The unemployment rate is at an all-time high, and there are thousands more jobs at stake. Many people are seeking to start their own businesses in these difficult economic times.

Although starting your own business may offer greater freedom and more income than being a worker drone in the group, many of the new business opportunities are frauds or selfish scams that steal money from the poor. While many business opportunities may seem appealing at first, they quickly make you a slave to the economy or leave you unable to control the economic tides. Who wants to be in control of a business?

How can one tell if a business opportunity will work?

After looking at hundreds of business opportunities, these are the 7 characteristics I believe every start-up business should have.

1. Customers May Be Obtained This Week

How long you stay in business depends on your ability to quickly get customers and the cash they give. New start-ups are often unsuccessful because they were unable to quickly get customers that pay in a sufficient amount to cover their salaries and bills. Be sure to know who your customers are, how they will contact you, and what it will cost to get them – both in terms of time and advertising.

2. Start-Up Price Less Than $1000

If you spend large sums of money before ever getting your first customer, you really are taking on a lot of risk. Most successful businesses start small and then reinvest significant amounts of their PROFITS back in the business. It is better to invest in what works and grow from it, than in something that isn’t. Do not spend too much on expensive equipment, office space, or paper supplies. You can start small businesses which will quickly grow into larger income streams. There are many online programs that can help you to start your own business. The best programs will show you a rapid return on your investment.

3. Sales are based on emotion rather than commodity

There are certain businesses that can only earn a limited amount of money. You can’t expect to make more than the plumbers in your area if you start a business. The same applies if you are looking to clean houses. You should also consider selling a specific item. Everyone can’t say “Oh, that’s only worth so many.” It is important to offer something different, so you can decide what price to charge and how much profit to make. It should be something that gets your customer to say, “I must have it, regardless of how much it costs.”

4. No Trading Time for Dollars

This is closely related to number 2 and 3. You have the freedom to choose how many hours and when you work. This is what makes start-ups successful and rewarding. Your income and profits will be more tied to the product you sell than how long it takes to make it.

5. Unlimited Pools of Repeat Customers

Avoid selling something only once. You might not see your customer again. Many real estate agents quit because they don’t have repeat customers. You’ll soon find yourself spending more time prospecting and finding new customers than what you love doing. Even if your profits are not as high, repeat customers can prove to be a valuable asset for your business. They are like compound interest – they grow exponentially.

6. Cheerleaders and Mentors available for free

Although starting your own business can be the best way to achieve ultimate wealth, it can also be lonely. There will be many questions. You will have questions along the way. Many so-called gurus will be more than happy to give you their guidance. But, be careful. It’s often a money-sucking operation that provides you with a limited amount of information, and then asks you to pay more for complete answers. Even if your business fails, you’ll continue to dig a deeper pit of dependency. It is better to join a forum that is free and open to all people just like you. Online forums are a great way to get free advice and critiques from experts, as well as some cheerleading and support when you need it.

7. You Should Have a Smile Business

While it is true that people want to be in the mortuary industry, you should aim to build a business that makes your day. You want to make others smile. You only have one chance to make it a good life. It’s the business opportunity that is easy for you to give your heart and soul to, the one you are proud to share with your family and friends. Your customers will smile, and they’ll gladly give up their hard-earned money to you.

Many great opportunities exist online and offline for business. These guidelines will assist you in choosing a profitable business that is both fun and lucrative.