From Jackie Ulmer....
I was recently asked this question by a man who had contacted me through my website and asked me to call him. My first thought was – "Why are you wasting my dime and my time?"
Then, I realized that it was really a great opportunity to learn something about perspective through the eyes of another, so I began to ask some probing questions.
What type of product interests you?
How do you see yourself working a business with the type of product you want?
Do you know how to evaluate a business and a product to see if it is truly viable and something you can succeed with?
How will you know when you have the perfect mix of business opportunity and product?
How much do you have budgeted to spend each month on this business venture?
I encourage you to ask these questions of yourself regarding your own business or any business you might be evaluating. The answers may surprise you. Here is what I have found in my research this past month with these questions –
The answers to these questions very often end up all over the map. The product line one may be interested in may not fit into the person's vision of how they want to work the business; the budget they have available, etc. Sometimes the product does not offer a good business opportunity. And, most people have no idea how to evaluate a business and determine if it is going to be a good business and product fit.
My prospect's problem is that he did not know how to evaluate the business potential of a product. He was getting bogged down in his own stereotype of that product and did not factor in the business viability of a product already used in 80% of households; in the top ten list of gifts; and with a strong consumable and re-order rate.
Once I was able to guide him in his own research and problem solving, it became much easier to open his eyes up to business potential and viability and not so much on personal product interest.
What are your answers to the above questions and how does this weigh in with your business decisions for the future?