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Business Overview 
 

"The indispensable first step to getting the things you want
out of life is this: DECIDE WHAT YOU WANT."

              Ben Stein

 

When you are evaluating or investing in a business, or developing an IGA what are the characteristics and benefits to you that you would expect?  Would you want to invest in a company/industry that is growing?  Or would you want to invest in "8 track" tape manufacturing?

 

What Benefits are you looking for in a business or Income Generating Asset?

bulletMore free time  (e.g. family, friends, volunteer work, elderly parents)
bulletMore money (e.g. retirement, college, house, car, quit job, charitable contribution)
bulletRecognition
bulletWork from home
bulletTravel
bulletBetter health
bulletOwn your own business
bulletYou can never be "laid off" or "fired."
bulletSignificant tax benefits
bulletDevelop multiple Income Generating Assets

 

While everyone is different, here are a few characteristics that many have indicated are important in evaluating a business investment:

bulletThe Products are proven and are effective
bulletThe Products add real value to the people who use them
bulletThe Company is financially sound
bulletThe Company has been in business for several years
bulletThere are no territorial limitations to the business
bulletThe Industry is growing rapidly
bulletThe Marketing plan is simple, effective and very profitable
bulletThe Training and Support system is extensive and effective
bulletThe products are proprietary, affordable and profitable
bulletThere is Royalty income
bulletCutting-edge Technologies
bulletLow overhead
bulletMinimal investment

(The businesses listed on this site have many if not all of the above characteristics)

 

You can obtain financial freedom - IF YOU REALLY WANT IT!!  and want it enough to work hard and DO SOMETHING DIFFERENT THAN WHAT YOU HAVE BEEN DOING!!

 

But why would you want to be financially secure (or maybe you just want to make your house or car payment)?

You may think this is a strange question.  However, if you do not have a good reason for changing your current situation it is very unlikely that you will have a good enough reason to weather some difficult times that most people face when they grow or change their economic condition.  My suggestion is to list what you "WANT" and then ask yourself (honestly) - "Are my reasons important enough to me to make changes in my life?"

Also, ask yourself the following questions (they deserve an answer)!

bulletEveryone is trading their life for something, what are you trading yours for?
bulletIn your current situation, who derives the most reward from your efforts?
bulletIf you were financially free, how would you spend your days?
bulletIf your annual income became a monthly income, what is the first thing you would change?
bulletHow are you going to obtain this?

 

Are you ready to be the "CEO" of your life?
 
bulletAre you self-reliant?
bulletAre you good at managing your time?
bulletAre you good at structuring your own schedule?
bulletDo you prefer variety over monotony?
bulletAre you ready to gain new skills?
bulletCan you live without the politics of an office? Corporate hierarchy?
bulletCan you adjust to the freedom of working where you want, when you want, how you want?

Most of the above are "learned" traits or behaviors.

Years ago "Ma Bell" (a.k.a. AT&T) coined the slogan:  "The System is the Solution."

Essentially this means that you need a simple, duplicable system to be successful.  If you think about it, without a simple: accounting, marketing, sales, training, business SYSTEM, businesses would be in chaos.  All successful businesses and investors have simple "systems" that they follow.

 

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