You often heard running your own online business is the best way to escape the rat race and live the lifestyle you have always wanted - flexible working hours and the ability to work from anywhere including your bed. Wow what a business? It triggers in your head - can I earn money blogging? And what is the best way to earn money blogging.
As wonderful as it sounds, starting an online business comes with harsh realities that you have to be prepared to face, even before you write down your business plan. Only 10 percent of new business succeed, and the average success rate of a first-time startup businesses is 12 percent. So to increase your chances of succeeding, you have to understand and prepare yourself to face the difficulties that lies ahead.
Here are several hard truths about running an online business that you will have to prepare for:
1. Success Rates Are Very Low
The influx of startups making it big over the past few years. This has given many aspiring online business entrepreneurs the hope of becoming the next Jeff Bezos. However, the hard truth is startup success rates are very low. You are more likely to fail with your first startup than you are to succeed. According to the Small Business Administration (SBA) only about 50 percent of small businesses make it to the fifth year mark, while only a third will make it to 10 years. I am not quite certain about what caused this.
2. It Takes Big Money To Make Money
It takes big money to make small money. There are a lot of costs involve in setting up a small online e-business, and most of the time you are going to find yourself having to stretch pennies for a mile. You might even end up having to use your saving money to cover the business costs. All of your decisions will start being dictated by your finances situation; you may have to reconsider that emergency saving because the money will be needed for your marketing efforts.
3. You Don’t Have Better A Life
When you start your online e-business, you want to do whatever it takes to succeed, and that sometimes means working all the way through the night or working in the early mornings. You will probably be working facing your laptop all night and cracking your head to think of how can I earn money blogging, and to create content for a tiny 1 page blog post.
4. Not Many Interested In Your Website
No such thing as one product suits everyone. Chances are it’s going to not even suitable for 90% of your website visitors. Research shows that as high as 90 percent of newly started web-based online e-business failed to make it in the profitable region. This is due to various reasons, but one of the main reasons is the products your are promoting is lame, not proven, merely theoretical and no credibility. You want to mount our efforts finding a product that matches people expectation perfectly, then work on converting you website visitors to loyal customers.
5. You Actually Have Bosses
One of the greatest appeals of having your own business and working online is not having to work for anyone. But wait. Technically that’s true; there is no ‘traditional’ boss, but you are definitely working for someone. Why? Because in this case your customers are your boss. Your job is to make them happy so that they continue to do business with you. A good product alone will not be good enough to keep customers. You have to consistently research and find out exactly what they want, and how they want it, then work on delivering it. You will realize the notion of quality lifestyle is a far-fetched misconception about owning an online business.
6. You Are Not As Outstanding
Everyone like to think that what they are offering is the new breakthrough product that’s going to change a lot of people’s lives. It’s not the case at all. In your niche area alone, there is probably already a thousands other people doing what you are just started doing. It will take years and big sum of money to achieve a outstanding level. You become special and set apart when you find something that gives customers a benefit like over-deliver and the product people buy from you consistently produce results. Zero refund request.
7. You Can Not Do All Thing On Your Own
No matter how talented and skillful you are, you can not handle every aspect of your business by yourself, don't you. You are going to need to hire people or outsource work to get things done, so can move on. And that means spending more money. You want to hire a copywriter or experienced writer to create quality content for your blog pages. And this will need to be done on regular basis.
8. Your Life Sucks
In its initial stage, you are going to want to put all your energy into making the business successful. This means taking time from your friends and family to focus full time on the business set up. It means cutting short or forfeiting vacations and nights out. This can have a negative impact on the people around you if they don’t understand your struggle. In their mind, you had become an introvert person. No time for cracking jokes with people around you.
9. Many Things Will Go Wrong
The prospect of running your own online business might seem very enticing when you are planning. You presume everything will move smoothly, from one task to another. The reality is that a majority of your plans are not going to go as planned. One small thing can send the entire business idea spiraling down the drain. A simple glitch in your website can stop working for a day if not forever. And the loss in revenue from that is going to be bigger than you could have ever expected.
Doing online e-business is no easy feat, and if this is the road you decide to take, make sure you are not looking at it with rose-colored glasses. Learn the hard truths that many don’t like to tell about starting an online business so that you start the journey well equipped and emotionally ready. It is a very rewarding choice that does not only improve your financial life, but can bring you happiness, satisfaction and fulfillment in life.
Do you find yourself demotivated by my article? If your answer is no, it tells you are very determined person who has the heart of a fighter. That could be a good sign that you will succeed. Only those who do not get distracted at the slightest will achieve great success, not only in online business, but also in offline businesses.
If your answer is yes, that could means only one thing, that you are not ready to become an internet entrepreneur as yet. That could be an obvious sign that you will not succeed. But the good news is there always a way to run online business the lazy way and still making a great success. I know because you can buy someone's business or product and make it as your own. So please click on the link below as I have something that could be what you need.
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If for any reason you want to contact me, please send me email at tseketup@gmail.com. I will do my best to reply to you. Or better still, leave a comments below so we can discuss things.
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