Starting an online business can be rewarding if steps are taken to ensure that all of the bases are covered.
Quite often, when we think of starting an online business, it is because we have reached a point in our lives where we feel that unless we “do something right now” then we will not survive financially, and starting an online business is “easy.”
The reality is, starting an online business can be just as difficult as building a “brick and mortar” business, that is, without having to build an actual physical structure. It takes, knowledge, planning and time, neither which can be overlooked or compromised.
Everyday on the internet, attractive ads pop-up, vying for our attention to “join an online business today and begin making money tomorrow.” These ads are usually promoted by someone who has never made a dime online or if they had, probably has taken them years to do so.
Let’s take a look at the reality.
According to recent some satistics, 20% of business fail in their first year, 30% fail in their second year, 50% fail in their fifth year and 70% fail in their tenth year; or looking at it from a different perspective, 80% percent succeed in their first year, 70% success in their second year, 50% succeed in their fifth year, and 30% succeed in their 10th year.
What is the difference in those that fail and those that succeed? The answer is knowledge, planning and time.
Would you begin building a skyscraper without learning basic construction and physics?
Would you start the actual building process without a strategic plan?
Would you expect the skyscaper to be built overnight?
A business is a business is a business.. even an online business.
Information like the before-mentioned can be discouraging to those who have considered going into business, and that is a “good thing,’ because it may save you time money and hours of frustration if those points have not been considered; however, after reading and absorbing this content, and you choose to move forward with this aspiration, then that too is a “good thing” for you have chosen to take on the challenge and become a part of the successful percentile of the business community who realize the perils which may come your way and yet still you are wanting to go “full speed ahead” to reach your goal and fulfill your dream.
That is the true spirit of an entrepreneur.