Everybody wants in on the “Perfect Business.” But just what is the perfect business, especially one you can start today?
Over my past 30 years as an entrepreneur, I’ve collected several concepts I believe would make a perfect business–just to be clear, not a fairy tale business that is an instant success the moment the business fairies wave their magic wands, but a company that satisfies a basic human need, allows you to make your own work schedule, has a simple structure, gives better returns on your investment, doesn’t need a special location, and uses your current education.
Satisfies a Basic Human Need
Satisfying a basic human need is essential to any business success. Let’s face it, necessity is the mother of invention. Products that lack this key component often require large amounts of marketing. Having a product like the Apple iPhone that virtually sells itself is the magic bullet that gets the job done.
Work from Home / Part Time on your schedule
Doing work on your schedule is extremely hard for people that get distracted easily, which includes most of us. Just like your day job, focusing on a consistent time schedule, helps you make consistent income. The owner of a perfect business does two things, Create Products & Market Products. Keeping your focus on these two activities will allow you to eliminate distractions and enjoy the freedom of working when and where you want.
No Equipment, Inventory, or Employees
That is to say, no heavy equipment. A computer, printer, internet connection, phone number, a real address or P.O. box and a bank account and possibly a business ID number (for U.S.) are always needed even in a fairy tale business.
Inventory is what you make or sell. It also takes room to store and ship. It’s always better to contract the storage of inventory and shipping out to another business, or sell or promote another business’ products or services. (no need for inventory)
With no employees, it is hard to grow, but you can hire independent contractors. These people operate as a single-person businesses that are contracted to perform specific tasks without a long-term commitment.
Make a lot of Money with little or No Up-Front Investment
This is the interesting point of a perfect business. If I was investing my money, I would expect a reasonable rate of return. If I work hourly at a day job I can expect the security of consistent weekly, monthly, and yearly income and a few perks like paid vacation and medical insurance.
When you join the self employment club, YOU NEED TO MAKE A LOT MORE DOLLARS!
Most people don’t want to trade their day job for a no promise business opportunity for various reasons including not willing to spend large amounts of money to invest in a start-up business with no proven history.
If you have no money to work with, you can find a way to keep your 9 to 5 job, then build your 5 to 9 business in the evening hours with only your time.
Another option is to look for free trials or little investment options to get s feel of the new business you are checking out.
My favorite way to make a lot of money is to use other people’s networks. It is a concept that works even if you don’t know thousands of people, because everyone knows at lest two people. Done properly it can grow exponentially.
Your market message will be contagious!
Successful in Your Own Backyard, Garage, or Wherever You Are
Working from the comfort of your home is satisfying, but can be distracting.
If you live in an active apartment or space is limited, finding quiet times in your business building schedule is important to your success. With more success comes the upgraded living space and eventually the business continues to sustain itself without too much work. Success promotes perfection.
No Licenses, Degrees or Certifications
When I say no degrees or certifications are required, I don’t mean you don’t need education. If you have been to school and learned to operate a computer and do basic accounting skills that is usually a good start. Not having a license, degree, or certification basically means you are responsible for your own authority in what you are doing. You are not required to be monitored or report to any agency or governing entity. This is really impossible because the government is usually interested in how much money you make and are anxious to enjoy in your profits through taxes. Don’t be too discouraged, because you as a businessperson can claim expenses to offset your income before tax is assessed. To learn about these deductions and other ways to improve your business, continual focused education of your choice though books, seminars, and online classes is your best option.
My Favorite Perfect Business
Being in the publishing and printing business has been good to me but definitely not perfect. I have lost several thousands of dollars on overpriced digital printing equipment and maintenance contracts. Recession years didn’t help much either, but finding and focusing on the perfect business principles has helped me through the rough times.
Two business models come close to my perfect business, both are internet business.
Multi-Level Marketing (MLM), Direct Marketing or pyramid model, where you promote the business model & products to other people, who promote the business model & products to other people, and so forth…
I’m more interested in the simple leveraging efforts and focus on the introverted community by limiting efforts to online activity, not parties or social events.
I’m especially interested in finding and exploiting these companies’ compensation plans to maximize monthly income with minimal time and money… REXIclub has an option to build your network before you lay your start-up money out through a 3-Day Build Your Network Challenge. This has been very useful to see if want-to-be MLM business owners should even try the simple MLM model.
Affiliate Marketing model, where you promote other peoples products and services for a small referral commission by following a link to the item being offered like this one to Wealthy Affiliates. They provide a free and paid platform for training & hosting affiliate blogs and review sites. It is worth a look. Lots of education and as a bonus a built in network of active marketers… If you register for the free account, look me up (maxcox) follow me and let me know that REXIclub.com referred you.
There are hundreds of ways to make money on the internet with your computer. Some may be more of a perfect match for you than others. In fact, leave your perfect business qualities or opportunity in the comment section below and help others find their perfect match.
Very good read. I personally have found my best business model in affiliate marketing. It is something I have enjoyed doing for awhile now. I also have delves into ecommerce a bit, but i didn’t find it to suit me too much. I do believe you have to really enjoy what you do, this helps you quickly pave a road for success.
Enjoying whatever you do is key.
I am also a big fan of affiliate marketing because it is so flexible. I know of some people that make thousands with MLM marketing, but they are very few. They say that it is usually the top 1% that makes the most with MLM. I am very familiar with Wealthy Affiliate, and they are an ideal place to start for beginners.
Flexibility is a key feature Viljoen, but another key feature of affiliate marketing is that properly done, it becomes a residual asset that keeps paying out year after year with little or no maintenance.