Many people have been burned by awful business opportunities pretending to be good ones. These tend to be people without the background understanding to weigh up the pros and cons that this new opportunity will offer them. This fact alone makes uncovering the bad ones more common than finding the hidden rough diamonds.
The problem comes when the person promoting the whole business fails to mention the learning curve that will hit you like a ton of bricks. I had recently bought a brick and mortar business, my first one. And although I had previously bought and sold real estate this new class asset was a wild ride. I thought Robert Kiyosaki was kidding when he said buying a decent business opportunity will teach and enable you to invest wisely in real estate better than income earners ever could.
But he failed to mention that you will be so highly scrutinized by banks your ability to get credit will be worse than your employees, yes my employees who are paid by me every month like clock work qualify for credit much easier than me. They just need a payslip, identity documents, proof of residence and a hand written list of expenses.
I need six layers of financial documents with accountant verified bank statements for the past 12 months with proof of projected earnings. Even with all this information handed in (which is impossible in your first year of buying the darn business opportunity) they still say your income is too erratic. It never ceases to amaze me when my staff qualify for 100% home loans while I who by-the-way pays their salaries with my erratic business income can barely qualify for 60% home loan on the same property.
That is injustice.
Let’s put the jokes to one side, being a small business owner to a living business with huge potential is a truly life altering experience. It changes your way of thinking, you immediately can establish rapport with any business owner who wonders past you in the grocery store. You know how they feel because all businesses require a few essential elements;
1) Be completely present in your business, own it; mind, body and spirit.
2) Cashflow can wipe you out, protect it with vigour.
3) You get paid last while everybody else; like your employees, your suppliers, the IRS and creditors; gets their cut of your money first.
4) Late nights are a must, especially in the beginning.
5) Customers need structure, you cannot allow customer credit to people who do not understand what it is like not to be paid on time.
6) You need to continue to invest in it long after you bought the business opportunity, be patient and flexible enough to navigate through each long month until you find equilibrium and start to have excess money in the bank.
After taking care of the 6 points above you are set to survive (barely) the first year of owning new business opportunities and reduce your chances of failure.
You may meet me in the grocery store and ask me, Are Business Opportunities Truly Created Equal? No, but people are created equal (some with better advantages) but all with the ability to learn new skills.
The learning curve of the owner by far is the one reason I believe that about 90% of business startups fail in the first year.
a href=http://ezinearticles.com/?How-to-Weed-Out-Good-Business-Opportunitiesid=4829378RevUp31/a is one such great business opportunity that will not only reshape the way people see network marketing but create more financial independent people by concentrating on creating a great consumable product with recurring sales that are not forced.
RevUp31 is going to be sold on pharmacy shelves and you have a chance to buy the IPO shares.
As a medical doctor I see myself prescribing it for my patients in the near future.