6 Truths About Starting a Business Online (or Any Business)
You’ve arrived on this page as you want to know everything about starting a business online.
However, the internet is full of people who want you to spend money on products that don’t get you anywhere. They promise you the earth, but they don’t even bring you back a dime. These sellers seem to want to keep people busy but without any reward for their hard work.
There are some scammers out there that will do anything they can to get your money. They will fill you with all kinds of ideas about making a million pounds by the end of the day.
It’s time to look at a few truths on starting a successful business online:
Truth #1 ‘Free lunches’ aren’t Free!
Every business is going to cost you some sort of financial investment. When you’re getting started it’s very important to spend initial money very wisely. There are plenty of ‘gurus’ who claim that they can help you do this and that. They usually arrive with an expensive sports car, but can often come in other guises and do a lot of exotic travel. They give the impression that they haven’t had to put any effort into making millions of dollars.
Well, let me tell you that the truth is very different from that. Every successful business takes time to work. It’s not easy, you have to put time in when you don’t really feel like it and you’d rather be doing something else. But that’s just the price that has to be paid to make a good living, have fun, feel rewarded and inspired. As an entrepreneur you don’t have a glass ceiling on the amount of money that you can make, the only limit is organising your time and effort so that it’s spent on the right things.
Truth #2 Leverage is essential
If you’re wondering what leverage is – it’s getting everything and everybody optimised for maximum output. When resources and people work together, it’s a lot easier to get better results than if you had one person doing it all.
Imagine, you are giving your house a makeover. If you had four people working on it instead of one, you’d be speeding along and making good progress. With 10 people on the job it would be done pretty fast indeed. That is why leverage is essential.
Truth #3 Friends and Family Don’t Understand Your Job
In today’s economy, it’s rare to find somebody who lasts for 10 years in the same job. Our parents may have witnessed situations where people have had the same job for 40 years, but it’s just not like that anymore.
These days you don’t have to think traditionally – ever read the ‘4 Hour Week’ by Timothy Ferriss? It turns any traditional thinking on it’s head. You really can create your business to fit with your life, not the other way around.
Truth #4: Rome Was Not Built In A Day
In exactly the same way, you won’t have a million dollar or even thousand dollar business in a matter of days. You need to have patience to keep working on the same business to give it time to grow. Some people jump ship to early and spend all their time preparing to make money but never actually make any.
Truth #5: Spend As Much Time On Your Business As You Would With Any Day Job
Treating your business like a sideline or a hobby isn’t going to work. It won’t grow very fast, if at all. You need to work the business just as you would a career. You need to set performance goals, network, balance your time and work hard to get ahead.
Truth #6: Multiple Income Streams Are Essential
By setting up multiple income streams, you’ll be insuring yourself against any changes. Nobody should put all their eggs in one basket when it comes to income. Google regularly change their search engine algorithms. If you business is set up to depend on something that you have no control over, you could end up in financial trouble.
What are you waiting for? Let’s get going…