If your looking for a online business opportunity so you can supplement your income, the first thing you have to ask yourself is what kind of business would suit you best, travel, education, how-to, people search, phone search and the list goes on.
How much time are you willing to put into the business and how much money are you willing to spend on it. Before you decide on which business opportunity you would like to buy into and invest any money in, here are seven things you should find out about.
The seven most important questions to ask.
- What exactly is it you will be selling? Will you be selling an actual product such as ebook information, travel, or just reselling the business you just bought. Most of these businesses have some sort of product that come with the business but some of them don’t.
- Will you get a replicated Web Site or will you have to build your own? Most of the online businesses available have a pre-built website available for you. But, if the business has thousands of members, all using the same website template you might be a little ahead of the game by building your own so it stands out from the crowd.
- What is the cost of hosting your replicated website? While most businesses will include a website when you buy into it, almost all of them will charge you a monthly fee to host it on their server. This can be as little as twelve dollars a month up to as much as forty dollars a month. It’s best to find out upfront what the total monthly fees are going to cost you.
- Does the marketing education you will need come with your purchase of the program, or will this be an additional expense for you? The business should have a free, marketing training course available to you in either printed or video format plus have webinars for you to attend on a weekly basis. If it doesn’t this will be a huge learning curve for you that can not only take months to learn but can, and most likely will, cost you additional money.
- Does the business pay for the advertising or do you? Most business opportunities I have joined do not pay for any advertising. That is an expense that will be incurred by you, However I have come across one that has an advertising pool which cuts down on your advertising costs considerably.
- Will you have to buy, keep stock and send out physical products? If you have to do any of the above make sure they are quality products that you yourself would buy and that are not available at your local store. Be sure to take into account any shipping and packaging costs because that will cut into your overall profits.
- Will you be paid just a one time payment for whoever you bring into the business or does the business have a built in recurring income stream. A lot of these business opportunities have a recurring income stream from monthly membership fees. You get paid a certain percentage or dollar amount from the monthly fees of anyone who joins under you. You will get paid a portion of their fees for as long as they are a member.
There are literally hundreds of business opportunities out there to choose from starting from ten dollars going up to twenty thousand dollars and all of them will take some work on your part to promote and sell. Most of these programs have hundreds or even thousands of members that you will be competing with so before you make your decision on any program, type the program name into your search bar and see how many many other people are selling the same program. If there are pages of them you may want to look at a different program. That can help you narrow down your choice.
One thing to remember is you are not going to get rich quick with any of these online business opportunities. It will take work and patience on your part before you start to see results.
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