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-   -   How to choose an opportunity which is right for you. (http://www.sowpub.com/forum/showthread.php?t=10790)

GordonJ October 6, 2020 11:54 AM

How to choose an opportunity which is right for you.
 
So much opportunity. It creates vacillation, delay, and loss of time.

There are different opinions, of course, and I'm not shy to share mine, eh? And one OPINION that I tend to harp on is...TIME. The older you are, the less time you should spend on thinking about it and more time DOING IT.

If you are 25, you have a tank full of time according to the life insurance tables, but at 55, you are running out of time (although you do qualify for AARP, lucky you).

So, ONE WAY to consider OPPORTUNITY is based on your age.

Being a crusty old curmudgeon myself, I want LIGHTENING fast results and will follow the path of least resistance to get them. But my very FAIR advantage is, being around so long and having done so many different things, I may be able to analyze opportunity much faster.

ANOTHER consideration is: SLOP AND MESS, something I picked up from Harvey Brody. How many people are involved or needed? How much equipment, how much will you be dependent on other people, as in a supply chain situation? Too much slop and mess will keep me away from many things.

Then there is AFFINITY, do you resonate with the market, are you a part of it? The reason I did so well with GOLF is, I was the market and being an instructor, had first hand understanding of the needs and wants of the market.

So, I had a high level affinity for golfers, NONE for bowlers, I just didn't get it, maybe because back in the day they were smoke filled beer guzzling joints which I avoided (or maybe because I just sucked so badly at it).

The point, which also gets harped on a lot is, do something you like to do...when you have an interest in something, it makes sense you would stay with it when you start a business aimed at the thing you like. Right?

THEN, there is a money choice. Speed vs. Amounts. How fast do you want to make money? How MUCH money do you want to make?

EXAMPLES (from my personal case files)...and I'll stay with GOLF here.

I could easily and quickly make 25 bux for a half hour lesson, but then I was limited to the amount because of TIME. Only so many half hours in a day.

I could easily, but less quickly, make 100 bux for a set of custom made clubs, because it would take TIME to get them made.

OR, I do a workshop, in GOLF, I would call them "Clinics" and do one driving clinic with 5 people @ 25 bux, thus, getting 5 times the money in the same amount of time as a single lesson, this is using LEVERAGE.

THEN, when I got smart (took me a long time, being a known dummy and all)... I recorded some clinics on audio and video. I could sell a cassette for the same as a single lesson. But it could be sold, 24/7 by remote means to anyone, anywhere. This is long LEVERAGE.

So, for the sake of an easy discussion, YOU can take a look at a lot of money making opportunities through different lenses, based on what you WANT.

Easy money? Fast Money? Larger Amounts? Less slop and mess?

I like to start people with DOLLAR AMOUNTS (how much do you want/need to make)... then look at AFFINITY, and see what markets exist and how you can enter those.

HOW do you pick your opportunities?

Gordon

GordonJ October 7, 2020 10:03 AM

The 2k "FRANCHISE" EVERYONE should buy today.
 
Yes, Franchises are still being sold during this Covid Crisis. Much slower than normal, which may never come back (not sure what normal is, but...)

The appeal of any Franchise is it's COMPLETENESS, with training, ready to go manuals of operation all the HOW TO ready for you to use. PLUS, most have figured out the biggest little detail, HOW TO GET CUSTOMERS.

In the last few months, I have conducted surveys, and many of you have participated (THANKS), it has been informative.

And my conclusion (Opinion) is, TWO TO FIVE thousand dollars is the sweet spot for a legit business opportunity.

Sure, it won't buy you much of a Franchise, but it could get you a distributorship or a dealer op, or it seems to be what most people are willing to invest in an ONLINE MONEY maker.

Truthfully, I think 2 thousand is shoe string, bootstraping sums...and doesn't leave much room for error. Interesting enough, the big LAUNCH boom of a decade+ ago, had the 2k offer, and it still seems to be the sweet spot for many a guru.

I've seen very few courses worth it. There always seems to be some little detail left out, the detail which requires you join some top secret inner circle group, for several THOUSANDS of dollars. YIKES.

Very few comprehensive courses out there for less than 2k.

But I think it should be the minimum START UP amount for your Online or Internet Business, if you want to get fast results.

I've seen many courses for 995, even a few for 750, which give good enough information to be worth their prices.

Well. I'm looking over some courses now, and if I find anything comprehensive and detailed enough at a reasonable price, I will let you all know.

IF you, any of you, have a good course, or have bought one and used it to make profits online, let us all know. We will allow links, even to affiliate offers (for now) so as to be able to flesh out any good ideas, products and get you (US) all ready for having a profitable 2021. Fair enough?

Gordon

PS. If I find anything worth while, I'll surely endorse it here and to the lists we have, using the 2k figure as my guideline.

ayeshaaroy October 8, 2020 02:18 AM

Re: How to choose an opportunity which is right for you.
 
Thank you for sharing nice information.

OliviaThomas1998 October 8, 2020 03:53 AM

Re: How to choose an opportunity which is right for you.
 
This is interesting what you've wrote. Why do you believe the amount of 2-5k is the right amount to invest? What other factors should we take into consideration when investing such amount in the time of the pandemic? What would you suggest to start with? I'd be grateful for your tips!

abdulsalim October 8, 2020 05:48 AM

Re: How to choose an opportunity which is right for you.
 
Nice Information.

GordonJ October 8, 2020 10:10 AM

For now, I'll take this at face value, which means...
 
Quote:

Originally Posted by OliviaThomas1998 (Post 41187)
This is interesting what you've wrote. Why do you believe the amount of 2-5k is the right amount to invest? What other factors should we take into consideration when investing such amount in the time of the pandemic? What would you suggest to start with? I'd be grateful for your tips!


I'll answer these questions, for now, but I advise you to read about DRIVE BY POSTS.

I KNOW, not believe, that 2 -5 k doesn't go very far in start-ups, it is enough to get started. And this is especially true of an Online or Internet Marketing business.

I believe it is a good amount to start with, because most people can afford it. Other factors are PERSONAL skills, experience and knowledge. What does one bring with them to use? Then, what INTEREST or affinity, does one have for the business core, worst thing is to have ONLY a need to make money.

That is a big factor, but not if based on desperation. Start fast, start quickly but based on a well thought out PLAN OF ACTION.

For over 35 years I've asked the two questions: WHAT do you want, and WHY? This gives insight to motivation and determination.

Two thousand dollars gets one a website, some tools to use, like Autoresponders and leaves a bit for marketing. It is more of a minimum, although, many have done it for much less than that, but they spend more TIME to get to profits. 2k investment should return itself in the first 90 days and be profitable from the on.

Gordon


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