Thursday, November 6, 2008

Earl Flormata - So you wanna start a business?

Ok, so the straw that's about to break the camel's back is about to fall and you're tired of doing the same drudgery work from 9-5 every day. You find yourself overworked, underpaid, and unappreciated. You want to find a way to get closer to financial freedom, but you just don't have the proper tools required to get the job done... What are your options at this point?

The entrepreneurial dream is usually the stepping stone for most people to realize their dream of never having to answer to a "boss" per se again however the jump from Kiyosaki's quadrants of E to S is basically more work with a "meaner boss" :). Unfortunately the barrier to entry for most at an exit plan is a large price point that many cannot afford. Which brings us to consider the many home business opportunities that are out there in the marketplace.

Now how does one differentiate between a proper opportunity that makes sense, and the cult-like kool aid drinking types that make you abandon your friends and family unless they buy the lotions, potions and soap that fill your garage?

Let's take a look at this from both the technical and fundamental sides of the fence. On the technicals, does the product make sense? Is it something that you actually use? Perhaps something that you already use, or complimentary to something that you use every day. The numbers have to add up - and the pricing of the products should balance accordingly. On the fundamentals don't be paying 10x the price for "magical" juice that doesn't actually do much more than blueberry juice and has non-medically backed up claims to cure cancer, make your hair grow faster, and fix your toaster. Next, barrier to entry shouldn't be overbearing. The breakeven point should happen sooner rather than later from both the standpoint of doing business as well as getting a break in taxes from your newfound businesses expenses.

To do the analysis, we check the following items:
1. What is the TOTAL cost of this opportunity?
2. What is the TOTAL amount of tax that I can save through business expenses?
3. Can I reach BREAK EVEN within the first year? What about the 2nd year?
4. Is there truly an opportunity to earn passive income from this business?
5. Will it break my code of ethics or moral standards by promoting this business?
6. Do I have the support and structure that I need to be successful?

Take a look at what you're doing now - and if things don't make sense, sometimes it's better to cut your losses and move on before the ship sinks. If you're willing and able to make the sacrifices and spend the time and effort working a great business - Infiniti Point Strategies and SWS - Marketing have a fantastic family-like group of talented people ready to support you in your quest for the freedom of owning a profitable business. Just drop us a line at www.ipoint.ca and attend one of our meetups.

Thanks for reading,
Earl Flormata

2 comments:

Investor Pat said...

Totally agreed, There is too much multi marketing companies that wants people to pay a fortune to get in and pushing members to sell overpriced products to family kids dogs and cats.

Lois Holmlund said...

These six points are excellent, and I have the printed out now. Your help has been amazing in figuring out what the best path is for me. Thank you so much.