When evaluating a potential business opportunity, what’s one factor you look at to determine whether or not it’s right for you, and why?
These answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. Learn more at yec.co.
Whether It Aligns With Your Current Goals
Many entrepreneurs fall victim to “shiny object syndrome.” There are endless possibilities and countless directions you could have chosen, but you will never get anywhere if you don’t stick to one path. Ask yourself whether this opportunity aligns with your goals at the moment. If not, leave it for later.
– Solomon Thimothy, OneIMSHow Much Value You Can Add
With the amazing volume of opportunities out there, saying “no” should happen a lot more than saying “yes.” But when you are ready to say “yes,” a key factor should be how much value you can add to the project. How much does having you involved move the needle for this opportunity? If the answer is “not much,” consider what happens when the going gets tough and you can’t help or if you lose a team member.
– Brandon Harris, PlaymakerIf You Truly Want to Do It
I try to evaluate business opportunities in the terms of do I want to do this, and why? It’s easy to get distracted by things we “should” do or by things that appear easy or quick. But none of that matters if you don’t actually want to do it.
– Ryann Dowdy, Uncensored Consulting, LLC
Read more “Is a Business Opportunity Right for You? 12 Factors to Consider” here https://www.noobpreneur.com/2022/03/30/is-a-business-opportunity-right-for-you-12-factors-to-consider/
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