Finding the Right Business is Critical to Your Success
We've established that working from home is a smart move either as an income supplement or as something you'd like to develop into a full-time income replacement. Finding the right business is a critical piece of the puzzle.
Just a few years ago I would have encouraged someone looking to build a business quickly to look into buying a franchise They used to have many advantages:
A quick start up
The marketing is in place
Lately, though, I've moved away from franchises. They are tremendously expensive and loans are few and far between these days. They're also not as resistant as previously thought to economic downturns.
It would be far better to take a small slice of an existing market; something that people buy regardless of economic conditions. My new recommendation is the non-grocery consumables market. What are non-grocery consumables? They are the things people buy and use up regularly; things like toothpaste, shampoo, laundry detergent and the like. While not very romantic, they are none-the-less a huge market that is recession resistant. In good times and bad people brush their teeth, take a shower, wash their clothes and clean their homes. Add a nutritional supplement line and you'll be able to tap into an additional market that will reach 100 billion dollars in the next four years. Interested? I thought so.
A very valid question at this point would be "How do I break into this market?" There are two ways. First of all, you can develop products and go head to head with the big boys like Proctor and Gamble, Johnson & Johnson and Lever Brothers by yourself or you can team up with a solid business partner who is willing to shoulder the financial burden. I recommend the second option.
What To Look for in a Business Partner
Working with a business partner can be a very smart move depending on what that partner can bring to the table. Ideally, your business partner should be able to shoulder the bulk of the financial burden involved in competing for a piece of this huge market.
A good partner would:
Already be competing in the marketplace
The manufacturer of the products (this eliminates expensive middlemen)
Producing solid, science-based products that provide real value to the consumer
Creating products with a loyal following (look for high re-order rates)
Have a broad product base. Consumers should be able to purchase the bulk of their non-grocery items all in one place
Have patents on many of the signature products so they can't be duplicated
Provide a simple and efficient ordering process with reasonable delivery charges ( we've all been stung before with outrageous delivery charges)
Be Debt free
Be Green
Be Reputable (look for awards and recognition from leaders inside as well as outside the industry)
Have strong leadership
Established (look for a company with several years in the industry and a steady growth rate)
Poised for growth (is the infrastructure in place for the company to double, triple or quadruple its size in the next few years?)
If all this makes sense to you, click here to learn more about a company that meets all this and more (The site is password protected. Username: story password: story Watch the videos then click F5 to refresh your screen so you can click the contact tab or return here and use the contact form on this site)
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Just a few years ago I would have encouraged someone looking to build a business quickly to look into buying a franchise They used to have many advantages:
A quick start up
The marketing is in place
Lately, though, I've moved away from franchises. They are tremendously expensive and loans are few and far between these days. They're also not as resistant as previously thought to economic downturns.
It would be far better to take a small slice of an existing market; something that people buy regardless of economic conditions. My new recommendation is the non-grocery consumables market. What are non-grocery consumables? They are the things people buy and use up regularly; things like toothpaste, shampoo, laundry detergent and the like. While not very romantic, they are none-the-less a huge market that is recession resistant. In good times and bad people brush their teeth, take a shower, wash their clothes and clean their homes. Add a nutritional supplement line and you'll be able to tap into an additional market that will reach 100 billion dollars in the next four years. Interested? I thought so.
A very valid question at this point would be "How do I break into this market?" There are two ways. First of all, you can develop products and go head to head with the big boys like Proctor and Gamble, Johnson & Johnson and Lever Brothers by yourself or you can team up with a solid business partner who is willing to shoulder the financial burden. I recommend the second option.
What To Look for in a Business Partner
Working with a business partner can be a very smart move depending on what that partner can bring to the table. Ideally, your business partner should be able to shoulder the bulk of the financial burden involved in competing for a piece of this huge market.
A good partner would:
Already be competing in the marketplace
The manufacturer of the products (this eliminates expensive middlemen)
Producing solid, science-based products that provide real value to the consumer
Creating products with a loyal following (look for high re-order rates)
Have a broad product base. Consumers should be able to purchase the bulk of their non-grocery items all in one place
Have patents on many of the signature products so they can't be duplicated
Provide a simple and efficient ordering process with reasonable delivery charges ( we've all been stung before with outrageous delivery charges)
Be Debt free
Be Green
Be Reputable (look for awards and recognition from leaders inside as well as outside the industry)
Have strong leadership
Established (look for a company with several years in the industry and a steady growth rate)
Poised for growth (is the infrastructure in place for the company to double, triple or quadruple its size in the next few years?)
If all this makes sense to you, click here to learn more about a company that meets all this and more (The site is password protected. Username: story password: story Watch the videos then click F5 to refresh your screen so you can click the contact tab or return here and use the contact form on this site)
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