Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Business Opportunities to Own
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Everyone will be hearing a lot from the newest addition to our staff: Digital Marketing Manager Hired Margaret Mallonée! This hire was a strategic move to enhance our staff for the new digital media platform we will be introducing in the weeks and months to come. Chicago,...

Slammed last year by what will surely be one of the most expensive and devastating natural disasters to ever hit the Northeast, millions of individuals, many of whom are work-at-home or other small business owners, are only now years later truly beginning to recover from the damage that Hurricane...

Marketing pumps leads and buyers into your business. There are multiple types of marketing methods, from paid advertising to social media. One of the most efficient is called drip marketing.

Here is a quick guide to drip marketing, an effective way to nurture leads using the power of automation. What...

Sponsors

STARSCAPES®
Imagine making up to $500 to $1,800 a day! Call or click now see how you can get your business for FREE! (602) 679-0257
Promotional Products Home Business
Run Your Own Business. Be Your Own Boss. Earn Great Profit Potential. Start At A Low Cost. Try It For Free! Learn More.
Hurricane Recovery Resources for Business Opportunity Owners
in the wake of a crisis of this magnitude can be especially maddening, DisasterAssistance.gov is good place to start...
How Many Leads Does It Take To Close A Sale?
This article is now live on our blog and I know could be very insightful for many. Read On
Residual Income Business Opportunities
Residual Income is the way that you work once and get paid multiple times—sounds great!... Read On
Productivity Hacks — Our Top 50
Productivity Hacks will help you make more from less this 2016. Here at BusinessOpportunity.com we want to... Read On
Top 7 Reasons to Consider a CMS
The internet loves obscure abbreviations. You can skip over most of them, but not CMS. What is CMS? read on...
The Ideal Length of Everything Online, Including Social Media Posts
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
It Takes a Hot Voicemail to Land a Warm Lead
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
Low Cost Business Opportunities to Own
Are your right for a Low Cost Business Opportunities to Own? The desire to own your own business... Read On
Sales Hack To Increase Your ROI and Productivity
Sales Hack to make you more money! Sales Hacks are not new, but how you use them is. We receive lots of emails.. Read On
The Top 10 Reasons to Buy a Business Opportunity or Franchise
Starting your own small business is part of the American Dream, right up there with owning your own home. Read On
7 Keys to Leading Highly Effective Sales Conversations
Most people's sales conversations could be better. Not a little better, significantly better. Read On
 
Resource Center > Article
Exposing Business Opportunity SCAMS! 4 Red Flag Rules You Can Follow
Share this Article:

This article is a must-read for anyone thinking about buying a business opportunity, distributorship, licensee opportunity or a franchise. Here we will teach you how to be a survivor instead of a victim!

How often have you heard “This is a sure thing!” or “There is no way you can lose!” or, the one I love most, “You can make money doing nothing!”?  Take caution. In business, the golden rule applies: If it sounds too good to be true, it most likely is.

The purpose of this post is to briefly educate you so that you don’t fall victim to high-pressure sales tactics.  Also, it can help prevent you from jumping on the gravy train to “the next best whatever it is” only to crash and burn in the end.

Successfully running a business, whether it’s a work-at-home type of endeavor or a full-blown franchise, will take hard work and serious effort, not to mention an upfront monetary investment of some kind in many cases.  You can’t expect to make oodles of dollars overnight no matter what someone might tell you.

Be especially wary of someone putting on the ‘hard sell’ or as I like to call them, ‘fear-of-loss’ closing techniques―stuff along the lines of “they are only taking a few good people.”  Yeah, right…  If that were true, then why do you see that same person or company selling the same things over and over again for years on end―provided, of course, that they are still in business and haven’t flown the coop with everyone else’s hard-earned money that they were so eager to take from any and all comers.

When you are new to the business opportunity space you have to be careful. Here are some basic Red-Flag Rules to follow should you decide to buy into any type of business...

Red Flag Rule #1: Avoid The "I Want To Believe Syndrome

This can be deadly if left untreated.  Important note to self…you are the only one who can successfully treat this condition.  Believing in your new business venture is great, but you’ve got to make sure your eyes are wide open and your decisions are based on solid facts.  You may also hear that “This business is a proven winner! If you just believe in your product and you do the work, you WILL succeed.”   The truth is that no matter how much you believe in something, it still might not be true.

Red Flag Rule #2: Confirm Product Selling vs. Opportunity Selling

This red flag seems to rear its ugly head over and over in the business opportunity industry, and it shows up when you ask the person trying to sell you a business this simple question:  Where will my profit come from?  How will I be making my money? (In other words, are you selling the opportunity to sell the opportunity itself to someone else so that they can in turn sell the opportunity, or is there an actual, tangible product or service involved?)  If no product or service is involved that is legal and tangible, I’d stay far away from whatever the offer is.

Red Flag Rule #3: Question The Empty Guarantee

Sometimes to close a sale, a crafty salesperson will serve up a “can’t lose” guarantee to persuade you into thinking there is no risk in signing up.  Almost nothing in life, or business, is guaranteed.  So ask the hard questions about ‘how’ said guarantee works and what it entails.  Is it the real deal or just a line?

Red Flag Rule #4: Beware Of Non-Business Businesses

Here I’m referring to the litany of insane quotes and promises that still floor me because, impossible as they are for me to believe, more people than you can imagine still fall for them.  Please stay away from programs that make these sorts of claims:  “Automatic cash gifting…let us do all the work.  Make money doing nothing!”  If cash gifting is legal, then why have people gone to prison for it?   Now, there are a few legal cash gifting programs to be totally honest with you, but they’re few and far between.  I’d just stay away from this sort of business if I were you.  The “stuffing envelopes at home” concept targets stay-at-home moms, and it’s all just “horse hockey” when it comes down to it.  Making money using your typing skills while working from home does happen.  Transcription is a real business, but be careful because those jobs are actually very hard to come by.  In fact, although I know they’re out there, I’ve never met anyone in my 20+ years in this business that makes his/her full-time living typing from home.  If you have, then you have stumbled onto the one or ultra-few people that do.  My point is that it’s highly doubtful you will be that one-in-a-million success story if the opportunity itself is not viable and sound.  Think you can earn loads of dough assembling crafts at home?  Stick to it as a hobby and not a job!  I could go on and on about companies that say you can do everything from making money selling trading cards at fairs to making it taking photographs and selling them online. Or, the best one yet which has been around for years: making money selling recipes to the tabloids.  Come on people, get real!

Here’s the good news in all of this…

You don't have to fork over your life savings to get into a solid, proven business!  There are so many really reputable and profitable businesses to buy out there that I have no doubt you can find something that suits your needs.   You just need to be a careful and realistic consumer.

In fact, there are hundreds of opportunities on our website that can really pay off if you’re willing to put in the sweat equity.  Will whatever you do make you rich beyond your wildest dreams?  Sure, anything is possible.  But just remember that if you’re gut tells you that something is just too good to be true, it most likely is.

Do your homework and ask questions – lots of questions.  Talk to at least ten people you respect that have zero affiliation with the company you’re interested in to get their feedback.  Visit the Better Business Bureau and check out what they know about the company you’re interested in.  Many companies are listed with the BBB for the very reason that they know you’ll be looking for them there.  Ask your most capable friends and/or family members, other entrepreneurs that you trust, or even a paid consultant to formally review the business in question before you commit to it.

Follow these simple steps, and you stand a better of chance of making the right decision than the wrong one.

Carpe Diem My Friends!

Related Blog Posts

Entrepreneurs Wanted - Once you’ve decided to take the plunge and enter the scary, exciting, challenging and oh-so satisfying world of entrepreneurship, you need to find the best business opportunity. How do you find one that has potential, sparks your interest and doesn’t break the bank? How do...

Start a Business Opportunity with $100 or Less - Don’t let a lack of funds keep you from starting your own business.

Start a Business Opportunity with $100 or Less Really IS possible. The variety of opportunities available is surprising, and not all are internet related. It’s a fact, you don’t...

How Do I Buy A Business And Not Get Ripped Off? - When you buy a business opportunity, you can hit the ground running. That’s because someone else has already developed the idea, the system, the service, the product, whatever form the readymade biz opp takes.

Here is a look...
The Opportunity Analysis Canvas By James V. Green (Author) “From the creator of “Developing Innovative Ideas for New Companies”, the #1 course in entrepreneurship with over 600,000 learners from 175 countries. IN THE OPPORTUNITY ANALYSIS CANVAS, DR. JAMES V. GREEN...
October is National Women in Business Month, so what better time to talk about the incredible strides that women are making in becoming business opportunity and other small business owners.  It’s also a great time to talk a little bit about why business opportunities are a specifically good fit for women...
 
   

I had the pleasure of setting down with Edwin Shoffner, CEO with Mattress by Appointment for BusinessOpportunity.com's very first Podcast that will be released on our new Digital Platform very soon.  Here is the transcript from that call for...
Read More

Video Spotlight

Virtual Financial A Home Business in Financial Services You are going to want to see this Video!

Virtual Financial Group


Premium Sponsor