In this post, I share How To Identify A Profitable Business Opportunity No Matter How Harsh The Economy Is
There are so many types of businesses in Nigeria.
But the thing is this; not all of them are profitable enough.
Just because a business is having many customers to attend to everyday, doesn’t make it profitable.
Avoid this mistake please. It is your hard earned money.
And there are so many businesses of this kind. But instead of singling them out, I want us to identify what makes a business really profitable.
Now, when I talk about choosing the right business opportunity, I use a combinational law to explain it.
And there are four primary keys. Here they are;
KEY ONE –
It Must Have A Pool Of Buyers:
If you look closely, every huge and profitable business opportunity in Nigeria that makes real money serves a very eager, hungry and passionate audience.
Check out MTN for instance. It serves millions of Nigerians who not only use their telecommunications services for making calls, but also for browsing the Internet
If the business opportunity you are considering is not targeted at such an audience, then let it go. You will only be wasting your time and money.
KEY TWO –
Your Business Must Always Be In Demand By Solving A Problem:
Your product must be always in demand, come rain, come sunshine by solving a pressing need
Another good example is Water. No matter what happens, we need water to drink and to keep clean. So it will always be in demand
It’s the same thing with business, my friend
Your business opportunity must have a product or service that very passionate people want and are desperate to pay for every time without you begging or pursuing them.
Why? Because it solves a problem.
You Must Be Able To Build Relationships:
When you find a pool of hungry and eager buyers, and you give them that something, they will hand you money the first time.
But what makes them come back and give you money again and again?
It’s the relationship you develop with them!
If you say the quality of the product, you are right. But when you have a good product but your attitude to them is bad, you will lose them to another businessman.
Or tell me, a pretty lady who sells recharge cards to you for N100 but is very rude to you & .. an aged man who sells the same cards for the same amount but always asks you about your welfare …. which of these would you be comfortable with the most?
Now you get the point.
Any business opportunity that is aimed at only making you the business person happy will fail. PERIOD.
It Must Make You A Lot Of Profits Per Transaction
This is the major factor you have to consider. That is why many people fail in business, not because they are not hardworking, but because the business they are in, is what I call, a “small change” business.
A good example of small change business is the selling of recharge card business. Imagine profit of N8 per card, for so much work and effort put in.
Do you know that it takes the same amount of time to make =N=300 profit as it will take to make =N=3,000 naira profit?
If I told you to choose, which one would you go for, =N=300 or =N=3,000?
You see what I mean. That’s it. Before you choose a business opportunity, you have to Choose Well!
Ask yourself, “What Would Be Left As Profit For Me After Every Expenses Accounted For?”
“Would It Be Enough To Run The Business In Case Of Any Mishaps?”
“Would it be able to take care of my basic needs without hurting my capital?”
If the answers are NO to any of the questions or your profits are not up half of your initial capital, then I suggest you drop that business right now and start looking for another business and follow this same process.
So if you have found a business opportunity with these four things, you can literally have the kind of incredible results
However, I have some questions for you;
Have you found a business that has these four key factors?
If your answer is no, then here is one I recommend.
It is called Affiliate Marketing
And the reason why I recommend it is that, you don’t need to create any product, you don’t need to import anything, no need for complicated stuff.
Plus it has the 4 key factors we just discussed.
All you need to do is, simply recommend the product of your choice and get paid commissions for every sale made through you.
However, as easy as this, lots of people still complicate it, especially the gurus.
But I have a super resource that will help you to build your own affiliate marketing business even if you don’t know where to begin.
To get access to this right now, click HERE to fill the form so that I can send it to you