Seven Questions Every Entrepreneur Should Ask

With over 40 million people looking at home-based businesses within the next three to five years, I thought this information was too important to not share.

Aaron Parkinson, Co-Founder of Carbo
CopyPro, recently held a conference call for prospects to help them understand what makes a good Network Marketing organization. The information disclosed can apply to any business the individual is evaluating and that is what makes the following so valuable.

Today, so many people are looking for that “quick-fix” they often times do not conduct due diligence in researching the business being considered. First, you must under the basics of the industry you are considering and have answers to a few good questions to make an informed decision.

There are seven key components that you should have answers to prior to making a decision on a business, whether internet marketing, traditional MLM, or any other home-based business.

First, does the company offer a unique product and/or service that is in high demand? If there is not a unique product being offered, how are you going to take market share from the already established leader? Competition will be fierce. This is not to say there is not the potential to generate respectable revenue, but is that what you are looking for? Is the demand in the marketplace for the product or is it the business opportunity that is attracting you?

Is there a lucrative income plan? Both an upfront paid commission and a backend residual income need to be included in the compensation package to make a lucrative package. Keep in mind that low priced items will pay low commissions. You should be looking for a product or service that will pay at least 50% commissions. Residual income is important for long term objectives.

Next, is there a solid, duplicatable marketing system in place? This is where many companies fail. How do you want to market- via the internet, home parties, hotel meetings?

Fourth, what does the company’s management team look like? Take the time to research the credentials of the top management. Have these individuals been successful before or is this their first journey? Are these people that you want to have as personal partners?

Does the company have global expansion capabilities? With the use of the internet, a global presence is vital. If the company is not positioned globally now, do they have a plan in place to develop a global presence? If not, your competition will leave you behind.

Does the company give back? You ask, what does this mean? Does the company contribute to making improvements whether in the immediate community or through contributions to a well respected organization? Is there a “good feel” about the company?