In part one of this article I looked at the first two of six tests to determine the viability of a particular business opportunity. Here are the final four. Apply these tests and you are much more likely to pick the jewels out of the myriad of trash online.
Test Three: Is there an UNDERSERVED Market niche I can reach effectively?
A market niche is a groups of people who are looking for your product or service. An underserved market niche is one where there are few suppliers of that product or service in that niche. Eric Weeks, the owner of Trck-Bed-Covers.com found there were 7,000 searches per day for pick-up truck bed covers. He also found the market was underserved. His first year in business he did $800K in sales, pocketing $200,000 for himself.
The products you intend to offer need to be targeted toward an existing market that is underserved.
Test Four: Can I create my own site to promote the opportunity?
Replicated sites are nice and easy–no muss, no fuss. All you do is plug in your name and a couple of other variables and boom you have your very own websit–or do you?
Even though a replicated site is “technically” unique, it is so much like everyone else’s that any unique aspects get lost in the shuffle. If you are going to be successful, your site needs to have unique appeal.
Test Five: Am I free to promote the site?
OK, don’t spam. That is pretty much a given. Every opportunity I know of has a prohibition against spam. But you have to be able to promote your site in ethical ways or it will kill your business.
Some business opportunities are so covered up by the fear of lawsuits, spam complaints, etc. they do not allow you to promote. For instance, if you have to get approval for every piece of email you send out, your business will be strangulated. Or if your website has to meet strict requirements about content–that can be a problem too. Read the fine print and make sure you can have reasonable freedom about marketing your opportunity.
Test Six: Does it pass the “sleaze” test?
Somewhere inside most of us have a “sleaze meter.” Is this business opportunity really honest? Is it moral, not just legal? Does it help people or just take people’s money? Do you want your mother, your kids, all your friends to know all about your involvement with it? If the answers to these questions is “no”, then you probably should pass.
So, the next time someone comes to you with the latest “Biz Opp”, apply these six tests. Most of the “opportunities” will look much less rosy once you do–and you will save yourself a good deal of time, money and headaches by not choosing them.
Kevin Bidwell is owner of
http://www.All-In-One-Business.com/cg-bin/at.cgi?a=274293
Kevin just finished a complete report on building a passive
income. Grab your copy here:
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