KEY #2: 'TIMING' - CO. & INDUSTRY
Growth? - What is the Company's current Growth Phase? Is it Formulation? - 'Critical Mass'? - Momentum [$100-500 million/yr]? - Stability? These are critical questions to ask. The 'right' answer will guide you to a good decision in the selection of your Home Biz.
Catch the Wave? - Please keep in mind that the more 'name recognition' a company has, the less opportunity it affords. It's like the skyscraper, the TIMING means NOW - not 10 years earlier - not 10 years later. Yes, millionaires have been made in this industry - JUST because of 'timing' alone - nothing else. The KEY is to find the right "balance". Even better, ask => can you be ahead of the Wave?
= TIMING IS EVERYTHING - according to Thomas Kinnear, executive director of the Samuel Zell & R. H. Lurie Institute for Entrepreneurial Studies at the University of Michigan, Ann Arbor. "But the further you get out, the less you should think of it as an operational plan and the more you should think of it as a process to drive thinking. Therefore, a 10-year plan is going to look more like a compass than a road map, in that its purpose is to point your company in the right direction".
= "Developing a revolutionary concept at just the right time is part of a company's or team's successful evolution", says Will GrayLin, founder and CEO of Medford, Massachusetts-based Way Systems Inc. GrayLin, a graduate of MIT's Sloan School of Management, also believes that sensitivity to market conditions is just as important as a company's other competitive advantages.
= "Opportunity in the market place is because of a vital process of convergence - it's a convergence of forces that were previously not together.” (Dr. Peter Drucker, author, business management expert, professor, consultant - 'the father of Business Management')
'Sizzle' Products? - Does the company have strong repeat-purchase products / services that people really desire and WANT? Do they have products / services available that people "love" and want "more" of -- things that have a heavy EMOTIONAL appeal (MOOD enhancers -- FEEL GOOD boosters) -- or that offer SECURITY? Often, consumers will bypass things they perhaps should have (NEED) - for goods and services they simply feel they "must have", instead (as strange as that may sound). These might be personal care / music / gourmet food / candles / cards / fine wine / pet grooming / legal - financial - tax protection, etc.