I would like to share with you some of my thoughts regarding the factors that you need to consider when making decision whether to join or start the small business. Sometimes when the opportunity is approaching, we are just like sitting on the fence, not able to make the right decision. Perhaps, below points can serve as guidelines for you to think over and over again.
1) Company profile
Is the company / business legally registered / licensed? You may check on below links :
Registration of company :
http://www.ssm.com.my/en/namesearch.php
For MLM / Direct Sales / Marketing company :
http://www.kpdnkk.gov.my/ajl/jos_ajllist.php
For Franchise business :
http://www.kpdnkk.gov.my/francais/senarai.php
and other relevant government ministry website for more information.
Search through the Internet on the company information including financial status, development planning, history of the company, etc.
2) Products
What are the products or services offered by the company? Is that commonly and widely used or specifically used? What would be the products range? How about the quality aspect? Again, search through the Internet to collect feedback / comments from users.
3) Pricing
How is the price? Overpriced or reasonably priced? Who is the target consumer? Widely acceptable?
4) Risk / Potential of the business
Be prepared for the worst scenario, that is risk management. Do carry out research and analysis on the potential of the business. Is the business newly launched in the market or reaching mature or stagnant status?
5) Business model
What kind of business model that is applied? Franchising, MLM, Direct Marketing, B2B, B2C, C2B, C2C, online business, etc. Sometimes, different business model suits different people. Every one have their own potential. Do analyse yourself whether it suits you.
6) What is your ultimate goal?
What would you like to achieve by doing certain business? Financial freedom? Time freedom? To be millionaire? You understand yourself better.
Different business requires different research and analysis. It would help you to make the right decision. Good luck!
