How to choose the right business opportunity

I’ve been in the entrepreneurial learning space for a while now, helping over 300 people start their own business and advise them through the early stages. Taking that first step of STARTING A BUSINESS is the biggest decision some of us will ever make. It feels like (and usually is) a life changing moment and often people will think it over and over, analysing every aspect.

If it’s a business opportunity, like BLAM! Websites or maybe a franchise you are looking at, it’s a different process than if you are starting from scratch on your own (like I did 18 years ago!).

Analysing your business opportunity is extremely important, making sure its right for you but, if you know you want to take the plunge for sure, my advice is don’t over think it.

Let me explain.

First step is to get a short list of businesses that appeal to you. Due diligence is key prior to the final decision (not afterwards) and any reputable organisation should have a wealth of information to help you achieve this quickly. Each one of these business should have the following traits:

- A proven business model
- A long term future
- Excellent training and support

Once you have your shortlist, ask yourself these questions, and if the answer is yes to them all what are you waiting for?

1. Can your see yourself being successful, and loving running this business?

2. Do you have the funds to invest to make it happen?

3. Do you feel comfortable with the team you are looking to invest with?

This may sound like a simplified process, but in my experience these are the most important questions. If you answer yes and you still can’t pull the trigger, then being in business probably isn’t right for you right now. There are plenty of “wantrepreneurs” out there and I’ve seen hundreds who just aren’t cut out for the high levels of work, stress and resilience that are required to be super successful in business.

It all starts with taking action, making a decision and just doing it! After that, you have to get into the habit of making decisions like this often and keep pushing on and moving forward. As the old saying goes, "every journey starts with the first step" and for most of us that fist step is the most difficult.

Our aim is to help people make the right decision for them, and if you think the BLAM! Partnership is that "right decision" click here.

Grant Stain - Co-Founder, BLAM Websites Ltd