If you don’t have an area of expertise or a product to create your own business around, there are lots of ready made businesses available for you to take part in. Some have higher percentages of success than others, and some have more risk than others. Choosing the right business for you isn’t too hard, if you know what questions to ask.
1. How much money is required to start? How much additional is recommended?
1a. Will I have an ongoing monthly fee? (Such as in subscription style businesses.)
2. What do I receive for my initial investment?
3. If I later decide this business is not for me, will I owe any additional money?
4. Do I need to purchase inventory?
4a. If I purchase inventory and can’t sell it, can I return it to the company for a refund?
5. How much profit do I make on my sales?
6. Do I make money immediately or will I need to wait for a check from the company?
7. Are the products guaranteed? How do I take care of my customers if they have a defective product or aren’t satisfied?
8. Does the product run out? Once I build a customer base, should I expect steady reorderbusiness?
9. How old is the company? Does it have a good track record and reputation? Is it debt free? Is it stable?
10. How much time a week do I need to set aside to become successful at the business?
11. Are the tasks associated with the business things I’m comfortable doing on a daily basis?
12. Are there ongoing sales meetings and trainin aids available?
13. Will someone local be assigned to me to help me be successful?
14. Do I believe the products are a good value at the regular price?
14a. Am I so dedicated to these products that I would not use another brand?
15. Am I a go-getter? When I face discouragement do I quit? Am I a hard wor
ker and stop at nothing until I reach my goal?
16. Will this business fit with my family’s lifestyle?
17. Am I teachable, or do I think I already know what to do to be successful?
These are GREAT questions. I especially liked the one about asking whether the potential direct sales business is debt free. Most people wouldn’t think to ask that…but it really tells me a lot about a company’s integrity and financial wisdom/stewardship. So thanks for posting these questions. Love and hugs from Oregon, Heather 🙂
These are all great questions Angela. Another important question to ask is “Are these products/services something people need in a difficult economy or is it something they’re likelygoing to cut from their budget?”