[MY EXPERIENCES] - Read Before Starting A Business

[Santa Claus]

Starting a business, be it online or offline, is not for pussies. If you have no experience you will probably only lose money in the beginning, sometimes lots of money.


Some facts from personal experience:

• You won't get rich overnight and most people will fail
• You will have to deal with a lot of issues everyday
• You will spend most of your days tired
• You will have no time for family, friends and fun
• People will stop calling you and inviting you to parties after a couple of years
• You will be very luck if you break even in the first year
• You will have to do most of the work until you grow to a certain point
• If you are a reasonable person, self-doubt will come, it's just a matter of when, be prepared
• Your business will consume your health, physically and mentally
• Your relationships will deteriorate
• Most of the time won't be fun
• You will worry a lot
• You should always reinvest your profits and never increase your personal expenses
• You know that saying: ?work smart, not hard?? It doesn't apply to the real world, you have to work smart and hard for a long time before you are able to live the dream
• The line between being a success and a failure is very thin. One choice is the difference between being homeless and being a millionaire.

Plus online business are very, very volatile. One month you make $20k, the other you only lose money, it's not for the faint of heart.


You will want to give up and, statistically, you should.


So, as you can see, starting a business is for the ones ignorant enough or crazy enough. I'm in the latter category.


I wish you the best!

 

[jem001]

You forgot one more advice - "failure is only in the mind"

 

[travanx]

The most advice I get is from people who have never run a business before. The best advice is from those who have. Three plus years for my civil engineering company. Lots of heartbreak along the way. I am 33.

Sent from my EVO using Tapatalk 2

 

[0_00_0]

You just need to take everything in moderation. Make time for family, friends and exercise. You will inevitably be disappointed but you have to pace your expectations. Work your ass off and hedge your bets and you will eventually get lucky .

 

[reinie]

Great advice for sure, and oh so true...

 

[CandyLand]

You forgot one more advice - "failure is only in the mind"

Failure is definitely not only in the mind. It's not the Matrix...it's the real world with homeless people, foreclosures, and welfare.

I work all day with people starting new businesses, and this mentality is probably the most harmful: they don't realize that they probably will fail. In fact, one of the first questions that I ask people who I'm considering working with is "what do you think your chances of success are?" If they think there's almost no way they can fail, I'm out of there.

Realism shouldn't hinder you, but make you work even harder.

 

[Cyber Dude]

Great info. There's definitely light at the end of the tunnel and it's worth it in the end. Getting a business there is the tough part- lots of hours and BS to deal with. Like they say- if it was easy, everybody would be doing it. Hard to get rich or have independence by working for someone else.

 

[patmiller27]

Failure is definitely not only in the mind. It's not the Matrix...it's the real world with homeless people, foreclosures, and welfare.

Well, somehow It really is the Matrix... it's just the matter of time when you decode it. Failure is nowhere else... It is in your mind!

We are lucky that success is never ending and failure is never final... and opportunities are like buses, there is always a next one coming

 

[ButcherPete]

This is why I prefer IM... A well-made website can potentially make you tens of thousands per month. But if you try to start up a website and it fails, what have you lost? Let's see:
- $11 for a domain
- $30 or so for hosting
- $500 on content creation; just an estimate
- We'll be generous and say you spent $1000 on services.

$1,541. Not very much. Anyone with a regular job can earn that in a month. And that's assuming that you have ZERO sales of anything whatsoever. I've had websites that failed, but they all at least made me enough money to cover the expenses. It's just that income was very slow after that, and I sold them so that I'd have time for more profitable things.

If you start a physical business and it fails, you are probably in massive debt and your credit may be wrecked for life. And personally, I'd be pretty well crushed if something that I was giving my sweat and blood to for all those 14+ hour days 7 days a week just failed completely and left me with nothing but debt.

Don't get me wrong; I admire the entrepreneurial spirit of people who start brick and mortar businesses. It's just not for me. I can't stand long hours and I am NOT a people person at all. I would not do well trying to manage every aspect of a business. Although I did decide that I want to enter a silent partnership with some reputable solid businesses someday, when I have more money to invest.

 

[lostpassword]

Starting a business, be it online or offline, is not for pussies. If you have no experience you will probably only lose money in the beginning, sometimes lots of money.


Some facts from personal experience:

• You won't get rich overnight and most people will fail
• You will have to deal with a lot of issues everyday
• You will spend most of your days tired
• You will have no time for family, friends and fun
• People will stop calling you and inviting you to parties after a couple of years
• You will be very luck if you break even in the first year
• You will have to do most of the work until you grow to a certain point
• If you are a reasonable person, self-doubt will come, it's just a matter of when, be prepared
• Your business will consume your health, physically and mentally
• Your relationships will deteriorate
• Most of the time won't be fun
• You will worry a lot
• You should always reinvest your profits and never increase your personal expenses
• You know that saying: "work smart, not hard"? It doesn't apply to the real world, you have to work smart and hard for a long time before you are able to live the dream
• The line between being a success and a failure is very thin. One choice is the difference between being homeless and being a millionaire.

Plus online business are very, very volatile. One month you make $20k, the other you only lose money, it's not for the faint of heart.


You will want to give up and, statistically, you should.


So, as you can see, starting a business is for the ones ignorant enough or crazy enough. I'm in the latter category.


I wish you the best!

Finally, someone who have the gut to spit out the truth.

I am sick and tired of all get rich quick guru building up false hope on newbie.

If you are new, be realistic about your goal in IM, you can't be a millionaire overnight.