Determining if Business Opportunity is a Scam

Business Opportunity Scams
[adinserter block=”12″]Are you investigating a business opportunity? They are everywhere and which one is right for you? More importantly, which ones are legitimate and which ones are scams?

If you were to take a simple poll of ten people, you will most likely find that seven to eight of the people you ask will currently have, or have had at one point in their lives a home-based business. With the ease of staring home businesses now, more people than ever are starting their “side projects” to add additional income to their bottom line.

What Business Opportunity is Right for You?

While you discover who of your friends is a part-time entrepreneur, you will undoubtedly also hear some horror stories of what went wrong. Your friend is your friend who will warn you of the scams which exist and attempt to persuade you to not follow the entrepreneurial route.

At this point, you have now uncovered information that most likely has you more anxious than before on starting your own home business. First, you are unsure as you have never been in business for yourself, and secondly, you now have your friends telling you to stay clear. So what should you do?

Every successful entrepreneur – regardless of industry – has faced this dilemma; proceed with the unknown and potential risks, or stay in our comfort zone and continue with the results we are getting. Obviously, successful entrepreneurs have taken the road less travelled and have achieved what they set out to do.

Getting back to you, your current results are not producing your desired level of success and you are ready to start your own home-based business. You have started investigating online and have run into a jungle of options, all promising success and wealth. What business opportunity is correct for you and integral to that question is what opportunity is legitimate?

Stop and think before you get involved. While there are legitimate opportunities to work at home, offers that promise instant riches with little work are generally scams. Legitimate opportunities to work at home come in the form of franchises or non-franchise businesses, or if you enjoy being rewarded for building relationships, good at sales and recruiting direct selling.

How can you tell the difference between what sounds good and what is good? We suggest you test any opportunity for three things: suitability, legitimacy, and marketability. Start by asking yourself if there’s a match between what you can and want to do and the work involved in the home-based opportunity.

Consider direct selling, for example-only about 5 percent of people who sign up with direct-selling companies have the skills to make money at it. That being said, the most successful opportunities will provide one-on-one training as most people start in the direct selling industry with no previous experience. If all you are told is how great the opportunity is with no focus on training and development, look the other way.

If this is your first time going into business for yourself you will need training. This is a fact every successful entrepreneur in direct sales had to face. Learn the proper skills, work the hardest on yourself and your business and your income will follow.

There will always be an element of anxiety as you enter into an arena you may have never been in before. However, with the right support and mindset, you will be able to quickly learn the skills you need to grow and be prosperous. The support team you surround yourself will greatly help this process.

With that being said, look at who your support team will be and their track record. What have they done in the past 2, 5 and 10 years? Have they jumped from opportunity to opportunity or have they built legitimate success? We all know actions speak much louder than words, and the actions of your support team will be a clear sign of things to come if you join forces with them.

Checking for marketability means determining if you have access to enough potential customers to make a particular business viable. The market may be saturated, and what will sell in one community might not sell in another.

Remember, if a work-at-home offer sounds too good to be true, it probably is. By taking the time to do a triple check, you can become a victor, not a victim. If you need more help in evaluating a business opportunity or need on in the first place you know you can trust, contact Engineered Lifestyles.

* Engineered Lifestyles does not guarantee any level of success or income from the NHT Global Business opportunity or any other money-making opportunity. Every independent distributor’s income depends on his or her own efforts, diligence, and skill. Please see our full Earnings Disclaimer here.