As you will have probably heard before, if it ‘sounds to good to be true – it probably is’. However not all internet business opportunities or new start-ups are cons. This blog is about how to avoid the scams and how to perform true due diligence when presented with a unique internet business opportunity.
Unlimited Rewards – No Experience Necessary
When faced with a fantastic business proposition that offers unlimited reward to all buyers – no experience necessary! A dubious feeling might at first arise with most people but there are always those few who allow their naivety, greed and ignorance to blind them into making an instant purchase decision which they later end up regretting.
Due Diligence, Due Diligence And More Due Diligence!
Not all great internet business opportunities are scams; there are lots of growing online e-business ventures that are successfully providing positive start-up business for lots of clients. The trick is to sort out the ‘wheat from the chaff’ and the way to do this is due diligence! Due diligence is the method used by a purchaser to check the creditability of the sellers business, sellers service and the sellers factual presentations about their business opportunities.
Due Diligence Check List:
1. Internet Fraud – Firstly read the informative information the Government has related to internet fraud and illegal activity.
Check The Sellers Representations
2. Seller representations – Check the seller’s representations! Are the factual presentations the seller is making ‘checkable’. If the seller claims to provide top ranking results for their businesses for sale – check on previous businesses sold, does the seller’s statement hold true? Are the results true ranking results on the search engines or are they simply ‘Pay Per Click’?
Ask For Client Referrals
3. Client Referrals – Ask the seller if you can contact previous clients who have bought the similar business opportunities from the seller, get independent feedback.
Visit The Sellers Offices
4. Visit The Seller – Ask the seller for the opportunity for a face-to-face meeting at the seller’s offices, don’t be afraid to ask the seller to show you round their offices. This can help verify the legitimacy of the sellers business as a solid platform and not someone working from a back end room of a house or a shop.
5. Payment Process – If you are dealing with an internet business opportunity of acquisition ask the seller for a split payment option, 50% on contract completion with the remainder on full delivery. Any reputable seller will agree to this option as long there opportunities are genuine.
Most Important Due Diligence Check
6. Gut Feeling – If after all the above you have been provided with satisfactory result the last check to perform and the most important is ‘listen to your gut feeling’ are you getting a good feeling about this new opportunity, do you feel excited and motivated or do you feel unsure or wary. My advice to you is if you feel anything other than the former, (good, excited, motivated), then your ‘gut’ is telling you something is not quite right and it may be that you need perform some more due diligence or check whether its simple nervousness about taking a risk, which is natural.
Reputable Internet Business Providers
A reputable and trustworthily internet business broker will be able to fulfill all the above due diligence tests and checks. They will be able to provide you with previous factual positive results from previous opportunities sold. Most trustworthy businesses for sale brokers will offer you most of the above right from the start allowing you time to investigate further their business opportunities.
Once you bought your new internet business its time to go to work, as with most things in life noting comes easy, you get what you put in! So if after performing the above due diligence and you have bought your business then ;put as much effort into building on that business turning into a fantastic revenue generating business that will return a great ROI as well as fantastic re-sale value.