Before Commiting Time or Money to a Business The Questions To Ask

It doesn't matter whether the business you are looking at is a online or offline business, there are fundamental questions that you need to ask before you commit time or money into a business.

These are the ones I have used for over 30 years and have served me well, when I am looking at a business seriously, and no selfrespecting business or opportunity would refuse to answer ;

Initial contact

Who are they ?

How long have they traded ?

where are they ?

What do they do - make ?

What is there trading status ie ltd, plc, sole trader, ect ?

Are there any registered legal actions or financial liabilities against them?

If they can satisfy these questions it is time to do some serious drilling.

The Drilling

Have you got a 3 - 5 yr business plan ?

Whats your balance sheet - Profit / Loss Account sheet worth ? (if new business full financial projections)

Can you prove it? (Audited Account or Feasible projection on new business)

Whats the longevity of your product - service ? (Does it have a lifespan or a repeating product service)

What do you expect of me in time or monetary commitment?

Now if you have the satifactory answers to all your questions and have the checkable proofs you require would I advise moving forward.

Although not totally infallable this system has certainly worked for me. It has been especially good for routing out scammers and business opportunities of dubiuos character.

It really doesnt matter what business or opportunity you are looking at, DON'T BE AFRAID TO ASK THE QUESTIONS.

You could save yourself a lot of money and permanent damage to your reputation and credibility.

If the numbers don't stack up it isn't happening