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1. Question: Online business opportunities
How does one determine the viability of an online business?
Answer

The internet is a fertile ground for home business opportunities. But as with most information on the web, it is a buyer beware situation.

There are at least a dozen known verification seals for online business activity, with the most common being VeriSign, TRUSTe and WebTrust. More recently, authoritative agencies - such as the Better Business Bureau with its BBB seal, and the World Chambers of Commerce organization with its ChamberTrust mark - have entered the market.

While the more authoritative seals have established a higher level of safety, they are not foolproof. Because a company has managed to convince an authority that it actually exists does not mean that it cannot change its practices. You should also be wary of spoofing, which is the creation of a fake or copycat web site.

This dangerous landscape means that anyone buying anything online, including a business system, must be extremely diligent. Get as much information about the opportunity as possible, either from authorities, from other buyers on product-related forums, from blogs or from linked web sites. A potential buyer should form a strong profile of the target purchase before signing on the bottom line.

If you cannot build this profile, then it would probably be prudent to ignore the business. Because there is little recourse if something goes wrong, it is better to lose an opportunity than to become involved with a fraudulent company, or one that only half-delivers on its promises. Just as there is always another bus, there is always another business opportunity. This is definitely a situation where patience is the best business tool.

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