3 Tips in Choosing a Business

June 13th, 2012 | No Comments |

Choose a BusinessFor those of you who are true entrepreneurs, you are probably running two or three different business ventures as we speak. If not, then you are working several different income streams under the same business umbrella, which is absolutely the way it should be. Multiple streams of income is always the way to go.

However, for those of you who are torn between two different business ventures, rest assured that one or both of the businesses are suffering. Either one or the other isn’t getting the focus and attention it deserves from it’s owner.

I frequently have to choose between business ventures. Once you’ve been a top income earner in any network marketing company, there is no shortage of opportunity. I receive a handful of offers to join network marketing companies on a monthly basis, and I’m not even searching for an opportunity. I could only imaging what someone must go through when actively looking.

Which business or income stream deserves the most attention from you?

My first impression is the choose the business that makes you the happiest. Choose the one that gets you excited to wake up in the mornings. That’s the one that will ultimately succeed anyway, right? If you don’t love what you do, eventually you’ll hate it, if you don’t already.

Well, one might say that the business that is the most profitable is the one that should get the most attention. And that’s probably the best theory. Most people will claim that making lots of money makes them happy, an I agree with that too.

Another factor is to choose the business that will help you get what you want, and in the quickest way possible. Use the business most likely to do just that. Use it as a tool and not as your passion. It’s just a means to an end.

Or, if you’re passionate about helping other people, you might want to choose the business venture or income stream that will help the most people.

I think the list could go on and on.

Here’s my advice.

  • First, know yourself. Know what you’ll do, what you will try to avoid, what makes you procrastinate, what motivates you and what doesn’t. Plan to succeed. Know what you’ll do if one business venture requires you to step way outside your comfort zone. Will you remain motivated or will you try to avoid it. Know yourself enough to know what the end result will be if you move forward with one instead of the other. If you can predict your actions, your choice may become easier and your success will be greater.
  • Second, determine your purpose. What do you feel you are on this earth to accomplish? If you’re a religious person, you know that your talents and abilities are to be used to serve others. An easier way to determine your purpose is to write your own obituary. Seriously! What do you want others to say about you when you’re six feet under?
  • Third, make a decision. Do not procrastinate. That would be the worst thing you could possibly do. Buck up and be the man, or “wo-man”, if you will. Evaluate your options and take a GIANT step forward. That’s the only way to know if you’ve made the correct decision. Trust your ability to discern and choose. Chances are, you will make the right choice for you and your family.

Conclusion

When facing a decision that will effect your future in any way, after evaluating your choices, the best course is to always move forward. Never be a fence sitter. Find yourself on one side or the other, and if you’re on the wrong side, at least you’ll know it.

As always, I’d like to hear your feedback. What methods have you used in choosing between business ventures?

 

David Allred is the author and creator of CFW. David has been teaching entrepreneur minded people how to earn a full time income working from the comfort of home for nearly a decade.

Think about it. Never miss your kids’ events, set your own schedule, choose your own income and enjoy a lifestyle and income which most people only drool over!

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