I don’t have to tell you that starting a business is not for everyone. The idea of starting a business sounds wonderful, but can you make that dream a reality? It’s been my experience that almost every working person thinks about working for themselves. Why do so few take the leap and do it?
In my opinion, for most people fear of faliure is the biggest barrior. Dreaming about a business is fun, and best of all there is absolutely no risk of failure. You can’t drown if you stay on the pier. You can’t swim, splash and squirt your friends with water either, but this is not enough to get most people to dive in.
The truth is most people are overwhelmed by the risk of starting a business. Starting a business, any business is always risky, and the chances of success are slim. However, you can’t succeed until you try.
The number one secret of success is…
Do not stop halfway. Many would be entrepreneurs start the process, do tons of research, even write their business plan. Then lapse back into the safety of dreaming. Dreaming about a business is easy. Making your dreams come true is risky. You can’t have success without risk. Unfortunately you can have risk without success, but thats another article entirely.
There are several questions we must ask ourselves before taking the plunge into entrepreneurship. Among these are…
Will this business earn money from the beginning or do I need to be prepared to work for free for a while?
Many businesses take years to show any real profit. If you expect instant wealth with little work plant a money tree in your back yard. You’ll have a better chance of success.
Do I have the necessary skills to run business? If you know nothing about flowers, don’t like flowers and have no desire to learn about flowers, your flower shop will struggle.
Do I have the money for business start up and initial operating expenses until I start earning money. It’s also a good idea to remember living expenses. If you quit your job to devote full time to your business, what will you eat?
The best advice for anyone starting or thinking of starting a business is to educate yourself.
The main reasons for starting a business is to make money. That’s what a business is, a way to make money. If you can make money and save the world great, but if you don’t make any money what will you save the world with?
I’ll say it again. The purpose of a business is to make money. If it wasn’t it wouldn’t be a business. It would be a filanthropic endeavor.
Nothing wrong with filanthropy, we should all practice it, but business is business.
Greg London is a web entrepreneur busy building a future.