Sunday, August 31, 2008
Obama and McCain's VP Choice: How You Can Use Their Strategy
The Democratic Convention is over, and both Barack Obama and John McCain have made their VP choices. Barack Obama chose Joe Biden, a seasoned Washington insider, with a strong foreign policy background and criticized for talking too much. John McCain chose Sarah Palin, a young Alaskan governor that is hugely popular in her state but widely unknown and inexperienced. What were their choices based on? Will their system work for you as you make one of the biggest choices in your career: finding the right home based business opportunity?
No one really knows how McCain or Obama made their choice. Obviously, they both had teams to help them and all their choices were vetted. In the end, they chose the running mate that they believe will help them not only win the election in November, but also the person best suited to help them run the country.
Obama, somewhat weak in foreign policy, chose a well known statesman and veteran in the field. McCain, having a desire to win over the undecided Hillary and Independent voters, chose a female who he says is also a reformer. Both chose people who beefed up their credentials and helped to strengthen them where they were weak.
So how do you choose a homebased business that will do the same for you? Here are a few tips:
1. Determine your own strengths and weaknesses. You want to choose a business that will build on your strengths and not only minimize but overcompensate for your weaknesses. For example, if you are strong in personal and human relations, but weak in being detail oriented, you want to choose a homebased business that requires you interface with the public, but one that doesn't require micro management or dealing with lots of financials or documentation.
2. List your favorites. Make a list of the business ideas that pique your interest. There are literally thousands out there, so be sure to narrow your choices down to no more than five. Start broad, by category, and then begin to narrow your choices. Categorize your choices using a star system. For example, give one star to the business idea that seems to be the most fun. Give another star to the business idea that seems to be the most profitable. Give another star to the business idea with the lowest start up cost, and on and on.
The ones with the highest stars are the ones you want to begin your research on.
3. Evaluate your list. To evaluate your list, you need to be objective. I suggest using the 15 Power Points of an Ideal Business scale that was devised by financial consultants and international bestselling authors, Dr. Denis Cauvier and Alan Lysaght. They say an ideal business opportunity should...
1. Sell to the masses.
2. Fulfill a fundamental need for many people.
3. Be low risk.
4. Provide the opportunity for ongoing passive income.
5. Require a low staff component.
6. Have a stable, growing, long-term demand.
7. Have low overhead costs.
8. Have low start-up costs.
9. Have a unique quality, making it difficult for competitors
10. Have positive cash-flow and low inventory costs.
11. Have high profit margins and rates of return.
12. Have mimimal government regulation.
13. Be portable.
14. Be fun, challenging and satisfying for the business owner.
15. Provide an opportunity to uncover other money making
multiple streams of income (MSIs).
No doubt, the vetting process that Obama and McCain took Joe Biden and Sarah Palin through, had a similar checkpoint system. Until November, we won't really know how well they did in making their choice. Plus, as we know, while the VP choice may help (or even hurt) the real choice for who to vote for comes from the top, not the bottom, of the ticket. Still, by systematically using a process to identify a home based business opportunity, choosing well becomes a much easier process. Happy Hunting!
Regina Osei is a successful mentor and coach who teaches her Online Homebased Travel Business Team members and other business owners how to succeed in business and how to market their businesses using diverse strategies and approaches both online and offline. If you are interested in starting your own online travel business and want the benefit of a mentor who is committed to your success, join our team today at http://regina.vacationmedia.net. If you have questions, e-mail me at: firstname.lastname@example.org or call 901-221-1630(1)