Starting A Business - Is It For You?

Is starting a business from home for you?  Well YES obviously, otherwise you wouldn’t be reading this would you!?

However….

There are many consideration to bear in mind; after all, you don’t want to be one of the thousands of would-be entrepreneurs who start their online business only to fail for lack of some basic principle.  If you look at the stories of many of the people who have made it big in the online world, you’ll see that there are common themes that they have in common.

Older or Younger?

The internet crossed many borders because in the world of wires and indeed wireless connectivity, there are only a few “borders” and these are ones that are imposed upon parts of the world that have draconian laws (I’ll leave it up to you to figure out which ones they are).

Age, for example, has no bearing on it; you can be 14 years old and make money (though in most cases you’ll need your parents approval for certain banking issues, like connecting a bank account to your paypal account), or you can be 90, and so long as you can still operate a computer, you’re able to make money.

Risk vs. Reward

In any business, whether you’re straight out of college, about to retire, or have been retired (willingly or otherwise), you need to consider what risks are involved before you take the  first step.  Now, the upside, the reward, is almost limitless, as has been proven by people such as the creator of Facebook (Mark Zuckerburg), and Youtube (Chad Hurley), but you need to think about other risks.  Are you prepared to spend SOME money on hosting, hardware (computer), softwares and monthly fees for your internet connection?  If not, don’t bother reading further.

But YOU Are Willing!

Okay, yes I KNOW you’re willing to do all this, because I doubt very much you’re reading this on a friends computer at a coffee shop, though I COULD be wrong. The other risks are simple, but need your consideration:

1. Risking your TIME

2. Risking your EFFORT

3. Risking FAILURE

Now, as you probably realize by now, failure is nothing more than a NECESSARY step in the direction of success; this is a simple fact of life.  (Read the other 10 Facts of Life here).  If you’re not prepared to feel like crap MANY times because you didn’t manage to understand something, or your product launch failed (or whatever) then you really shouldn’t start a business (online or otherwise).

JV’s

Many, MANY businesses are founded by two or more people; they do this for many reason, not least of which is they can continually motivate each other when things get tough.  They can also draw on each other’s experiences, knowledge and money when necessary.

Joint Ventures (JV’s) are very common among internet marketers, and have been the single reason that many internet marketers make a lot of money.  Typically, one has a great idea for a product and the other has a list of possible buyers for that product.  Alone, neither would make a cent, but together, magic CAN happen.

The Final Ingredient

On a final note, the one essential ingredient without which NO business will ever work, is…………..PERSISTENCE.  Calvin Coolidge, not a particularly inspiring man in my estimation (watch the video below if you don’t believe me), said one thing that I agree with whole-heartedly:

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb.”

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Remember, NEVER QUIT…….unless it’s your job!

Luke.