Second Income

Pick up any “business ventures” magazine at your local newsstand and you can see a glossy fascinating publication designed to attract people that are actively looking for methods to earn extra money, buy a franchise, or open a business of their own. Of course , it’s the Dream of many to own your very own business and become wealthy, right?

You have doubtless heard the old chestnut, “Most folk are too occupied earning a living to make any money.” Common sense tells us that we're not going to get loaded working for some other person, with the exception of lucky folks like people who started with Microsoft or Google in their early days and got rich thru stock options. The average American employee lives from payslip to salary check with barely enough earnings to cover their living expenses, leaving nothing for investment toward building wealth for a comfortable retirement. Hence the pull of the “Business Opportunity.”

As you flip thru one of those “BizOpp” magazines, you may see a wide selection of ads for different types of companies, starting from straightforward “starter kits” for $29 all of the way to classy franchises costing $100,000 or more. For most folks, it is impossible to raise enough capital to think about opening a true franchise. The franchise fees alone are typically deterrent, running into tens of thousands of bucks even for the less familiar companies, or several hundred thousand greenbacks for better known firms. And that isn't even including the outlay required to literally open the doors for business.

At the other end of the scale, most folks know that the cheap starter kits and “business in a box” packages are basically junk. But that leaves a whole crop of medium-priced business start-up concepts, ranging in price from around $500 on the low end to $10,000 on the upper end. I refer to these as “pre-packaged business opportunities.”

To explain why pre-packed businesses are often a waste of time and money, I will use windscreen mend as an example. As I write this, I'm taking a look at an ad for a training routine that costs $3,000, including starter materials. In case you have no idea what I'm talking about here, the essential idea is that little chips, cracks, or holes in auto windscreens can be corrected using a special liquid material that seals and repairs defects. This is obviously much cheaper than replacing a complete windshield. Thus the “opportunity” to start a business that helps folk economize on their windscreen repairs.

Now, in case you are thinking, “There’s no way I would want to be in that business,” please remember I am just using this as an example out of loads of possible different business concepts advertised in the same fashion. And obviously there are numerous folks who would be drawn to such a “business opportunity” — folks who actually like vehicles, people who already know quite a bit about auto repair, and so on. Masses of people are drawn to a business idea like this, and is the reason why this actual “opportunity” has been about for decades.

So again, what you have here's a sales job. If this were a really profitable business, then the company selling you the “opportunity” wouldn't be making all their money selling pre-packaged enterprises to folks like yourself. As an alternative they might be making their cash by rolling out the service across the nation and selling windscreen fix directly to fleet accounts on a national basis. But they know that there's actually more money to be made in the BizOpp world, preying on people who have the dream of beginning their own business.

If you're serious about starting your own business, then a pre-packed opportunity is not the way to go. It'd look like a simple answer to your problem, but the very fact that it’s being sold as a packed business likely means that there isn't any real cash to be made without a long hard sales grind. You are much better off doing your own research, coming up with your own business concepts, and then testing your ideas with small advertisements to work out if your ideas have any real potential. That's how many enterprises get their start. You may have a much better possibility of making it in the world of business or self-employment if you pay no heed to those BizOpp magazines completely!

Shirley Allan is actively concerned in the work from home industry. While the technology used to conduct this sort of business has changed enormously in that time, the beliefs behind establishing and operating a successful home run business stay the same. You can learn more by going to the Work From Home Australia Opportunities business catalog.

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