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How to Spot New Internet Business Opportunities without Losing Your Focus
Anyone who has done business online will tell you, it can be overwhelming! The rapid pace of change and the constant inflow of new information and new business opportunities are both exciting, AND can also be very distracting! If you have too many "irons in the fire" then you dilute the effectiveness of your time and your marketing.
Many internet business beginners make this mistake and then wonder why they are not making money. How do you keep up with what you're already doing AND keep up with new trends without spending your entire life on the computer??!! :-)
Another dilemma faced by internet business owners is how do you make use of beneficial timing of new opportunities?
Have you ever seen the movie "Defending Your Life?" In his youth the hapless hero, played by Albert Brooks, is introduced to an unexpected investment opportunity with a new company. The young man is afraid and skeptical, and he passes up this investment which turns out to be with Casio, which later becomes a multi-million dollar company.
OUCH!!! None of us wants to be in that Unenviable position. Is it really possible to catch the wave of new business ideas while you are building your existing business? How do you choose where to focus your precious time and attention? Here are three tips to help you
1. Choose Great Mentors
One of the most important things you can do early on in your online business is to find and work with good mentors, people who can show you step by step how to build an online business, how to spot new business opportunities, and how to keep your expenses low and your profit margin, and your integrity high. Integrity is key here, because businesses that lack integrity eventually go out of business. Businesses of integrity contain the basic ingredients that create a long-term income.
Finding good mentors will help shorten your learning curve so you don't need to "re-invent the wheel". Find mentors that you can trust, that share your values, and that can help you to spot new business ideas and opportunities. A good mentor can even help you to spot some of the emerging business trends on the net!
This being said, remember that no matter how great your mentors are. no one mentor can take the place of your own God given intuition, also known as your inspiration and your "gut feeling" or instincts. That's why our #2 recommendation is:
2. Listen Within
No matter how awesome your mentors are, it is crucial that you always listen to your intuition about whatever new business opportunity you are looking at. Some folks call this "gut instincts" or "inner wisdom”... whatever you call it, we all have it. I encourage you to listen to your instincts when looking into any new business idea. Instinct and intuition are VERY smart business partners.
-Does it excite you?
-Do I feel good about it?
-Do you feel good about the people involved?
I have found that my intuition has so far ALWAYS been beneficial to me and to my business ... WHEN I listen to it!! :-)
By the way, have you noticed that these first two tips that I just shared are NOT fancy technologies? They both fall into the category of the tried and the true:
Relationships!
A good relationship with yourself, relationships with mentors, relationships with your colleagues, customers and business partners form the very core foundation of your business!
3. Complimentary, Not Competing
On the internet opportunity abounds, in endlessly complex niches, all combining with the emerging new technologies of social bookmarking and Web 2.0. It's exciting, and can also be overwhelming. You need a business that will work, and that will provide you a solid long-term income, even in the shifting sands of rapid change that constantly open up new business ideas.
How do you keep it all in perspective? The key is to choose a niche, focus your content and information on that niche, and then add multiple income streams gradually, always keeping the focus on your niche. Choose well researched, complimentary ventures that enhance your main business niche. Sometimes you can plug into opportunities with little or no extra work, simply by adding a new affiliate program or service to your site.
Do not promote two competing products or companies that offer basically the same service, and do not try to be all things to all people. Multiple income streams can be smart business if done sanely, with discernment and with your primary business niche as the focus!
The other way to keep your focus is to budget your time, spending 80% of your business time focusing on income producing activities that bring new cash flow into your business. Do your income producing activities early in the day when you have the most energy. Leave the administrative tasks to later in the day, after you've accomplished your daily goals.
By choosing great mentors, listening to your intuition, and focusing your business tightly around a niche, even an inexperienced internet business beginner can stay in touch with new business opportunities, and grow a successful business that will grow and expand with the times!
About the Author: Tamara Esgoode writes for http://www.HomeBizWomen.com which offers free training, mentoring and coaching for women starting a business, and features the latest information on new business opportunities.
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