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Business 101 (Entrepreneurship Business Opportunity Or Bad Idea)

A good business opportunity can be recognized if you have the knowledge and proper skills to create or start a business from scratch, with enough revenue and resources to supply your target market with products or services at a reasonable price.  In order to keep the business operating efficiently with maximum productivity and minimal wasted effort or expense, you must ensure that your business becomes successful by making a steady profit or return on your investment (as an example of a good business opportunity.) If you lack the proper knowledge, resources, and skills to start a business from scratch that you are interested in building or if you fail to provide goods or services for a fair competitive price, while failing to make a steady return on your investment that is a bad business idea and you will waste time and money.

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Business 101 (Entrepreneurship Benefits of Home-Based Businesses)

  • The ability to start your business quickly
  • Very little startup capital needed
  • No additional rent or set-up charges
  • No commuting back and forth to work dealing with traffic and travel time
  • Comfortable working environment
  • Reduced wardrobe and commuting expenses
  •  Low risk for trial and error
  • Elimination of unwanted office politics this can include but is not limited to workplace gossiping, coworkers being nosey asking inappropriate questions in order to collect information,  supervisors being complete unreasonable assholes mistreating good workers, and jealous coworkers telling on someone to get them into unnecessary trouble
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Business 101 (Entrepreneurship Web-Based Businesses)

The power of the internet has allowed a new world of small web-based businesses to sale almost everything. They offer unique products or services at varying price points, beyond what you can find and buy at your local store. Online retail sales have reached $370 billion in the year 2017. Home-based entrepreneurs should focus on finding the right opportunity to accomplish much-needed goals within your business plan that will aid with your success instead of only focusing on job security.  Focus on getting results instead of following redundant routines that will result in being less productive towards your business goals. Seek to earn a profit instead of earning a paycheck. Brainstorming exercise:  List 5-10 ideas for (a) successful home-based business(es).

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Business 101 (Entrepreneurship Internal Readiness Questions)

 

  1. Do I like to set my own goals? Do I rely on my own personal work ethic and internal genius to complete those goals?
  2. If faced with failure will I keep fighting for what I truly want?
  3. Am I willing to plot another direction of travel towards financial freedom rebuilding with all lessons learned if I am unsuccessful?
  4. When I am successful will I manage my profits wisely?
  5. Can I turn a personal passion into a successful business?
  6. Am I ready to take full responsibility for growing a business from scratch?
  7. Will I do the necessary research and prep work needed to work for myself?
  8. Am I ready to step out of the realm of simply following orders? Am I ready to take control of my own destiny?
  9. Do I feel a typical work environment is a waste of my valuable time?
  10. Do I have a financial support system in place to fall back on in a case of emergency during the building up of a business from scratch?
  11. I am ready to break away from a typical workplace with the knowledge, resources, and experience to turn my internal dream into a reality?