Opportunity of a Lifetime!

Psssh!   "Hey, Brandon...do you have 5 minutes?  I want to tell you about an opportunity of a lifetime!"   I should have known when he used "Psssh" as his attention getter that I was in trouble.  I know the guy, so I politely said "sure".  Five minutes turned into 20, as I listened to him describe what had to be the most cockamamie scheme I have ever heard.  It wasn't that the product was bad (insurance), it was the "innovative" marketing and unique distribution model they employed that had me suspicious.    It was also the income claims.  Hey, I believe in six-figures just like the next guy, but when you tell me I can do it from the comfort of my home and in less than 3 months...yikes!   "Best thing, Brandon, there is no selling...the product sells itself."   At that point, I completely shut down mentally and waited for the door to open to let him down easy...when that didn't work...I let him down hard. "I wont slam this "big thing" you just outlined...somebody is actually going to make money with it.  The question is...will you?  I have known you for about 8 years and you have gone from opportunity to opportunity to opportunity."    "What do you have to show for it?"    "Yea, I know.  I need to stick to one thing and make it successful, right?" he said contritely.   "No.  Actually, you need to have multiple opportunities to generate revenue.  Things that compliment each other so you can serve a wider range of clients and smooth out the seasonal peaks and valleys of income.  But each opportunity has to be a genuine - one that you can leverage to make money."   "Makes sense," he responded.  "How do I know an opportunity is a real one?"    I thought he would never ask...What does opportunity look like?   Real opportunity should not be built on chance or "the next big thing". There are some fundamental elements that define success....the opportunity, the timing, and the people.   Regarding opportunity, a few things to review and research; What problem does it solve? Is it a new and emerging trend or an established industry? Are there barriers to entry so it doesn't get too crowded? What is the cost of entry? In business, timing is everything!  Windows of opportunity open and close every day. When you get in, and yes, when you get out, determines how well you do. There are some key questions to ask about timing; Is it going to grow year after year? Is it a "fad" that will not sustain focused effort? Is the market saturated with products and/or sales people? Is this a ground floor opportunity and "early adopters" will have an advantage? Is this the right time for your business? Are the right people in place?  Partnerships and relationships are both "ships" that can lead to Championships or sunken ships! This is the most dynamic of the three elements as human nature is sometimes unpredictable... especially when money is involved. A few things to consider before you build alliances;  Is there a training and development program to cut down the learning curve? Will you get assistance or guidance with business development? Are the financial models aligned so that everyone has a stake in the other's success? Can I protect myself? As humans, we will disappoint each other...agreements/contracts make sure we don't betray each other! As with all things, you have to do what is best for your particular situation. So as you evaluate the Opportunity, Timing and People, I want you to be mindful of two Latin phrases;   Caveat Emptor - "Let the buyer beware". For the opportunities presented, you must look at each one objectively, and not blindly, so that you enter into your business relationships with wisdom, and you don't look back on them with regret.   Carpe Diem - "Seize the Day". There are many sitting on the sidelines waiting for all the conditions to be perfect. That "paralysis by analysis" will keep them from leveraging the windows of opportunity that are present.   Do your due diligence, asks the right questions and then you will know if the next whisper you get is malarkey or the...    Opportunity of a Lifetime!   Until tomorrow, I wish you Money, Power, Success!