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Five Criteria for a Business that Generates Sustainable Wealth

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Posted by Cindy on April 3, 2012 at 8:00 am

We have reached the second quarter of 2012 and we are already in the month of April.

Recently, I was have been thinking about the various business models online and what type of business models can really create sustainable wealth online.

These are the five criteria that I have observed makes for wealthy business.

#1:Proven Formula
A business that has a proven blueprint and forumla for success is important. You wouldn’t want to reinvest the wheel when it comes to creating a sustainable business.

That’s one reason why people like to buy franchises. Frachises have a proven business model that allows individuals to gain success and traction with the new business. They have proven systems for attracting customers, retaining customers, operating the business, financial management and staff training.

In addition, it is important to look for industries whereby there is a large percentage of business owners getting rich in that industry.

#2:Global reach
A business that serves the local community may be a decent business. But in order to create wealth,a business needs to be able to serve an international audience so that you can diversify and expand your marketplace.

#3:High margins
Being able to sell a product for a high price whilst keeping the production cost low allows you to spend more money on marketing. This also allows you to generate a healthy profit.

#4:Low start-up investment
Statistics often state that 95% of most start-up business fail within the first year. Most of these business spend a lot of money, sometimes the life savings of the business owner in order to start it. However,once they have started the business,they faced the reality of having insufficient people liking their product or service. So if you start a business with a low capital even if you should fail, that failure is not fatal.

#5:Leverages your skills & passion
Does the business allow you to leverage your skills and passions? For instance I have a friend who is into the beauty business.During her leisure, she like to find out the latest line of facial products and she tries them herself. Eventually, she leverage her passion into a a facial and spa business.In addition, she conducts seminars and talks to share her knowledge and publishes them into home spa kits and makes them available for sale to customers.

Another business that has these five criteria is the information business. If you were to observe most successful business, they are mostly involved in the information business.

An information business allows you to leverage your skills and expertise into an iformation product.

It requires only a small investment to get started. You can reach a global audience who shares the same interest as you by making the product available for sale online.

An information business has a proven formula.

  • Create the info-product.
  • Package it as a product, seminar, course or home-study program.
  • The offer consulting services to clients who like more personal attention.

I hope this post will provide some inspiration to you especially if you are deciding on a sustainable business model.

If you want the blueprints to build this type of information business and have a lifestyle that you only dreamed about, you may want to check out Austin‘s new course.This young man in truly inspiring. He created two businesses while travelling aborad and having an experience of a lifetime.

Look at what Tim Ferris, the New York Times bestselling author of the Four Hour Work Week had to say of Austin

“Austin built two profitable companies while travelling abroad and having the experiences of a lifetime.”-Tim Ferris, New York Times Best Selling Author.

 

To create your ideal lifestyle business now, check this out.Click here.

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