Should I Start An Online Business?
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I want to start an online business. But, I have no idea whether it will work for me or not. You started way back. Can I still achieve success if I start now?
This was one of the questions my friend asked when I was talking about my latest online business venture.
He was fascinated by the success stories of the dot com millionaires. Twitter, Facebook, and YouTube are all real life success stories that made it big. People who write on the internet (A.K.A bloggers), are making 6 figure incomes.
There are lots of online products selling based on your dreams to live a lavish lifestyle by working minimum hours (4 hour work week anyone?) and that too from the comfort of your home.
An online business is not something like a dream job. It may be very comfortable compared to your hectic day job. You may make more money a month than you make in a year from your day job. You may be able to afford the utmost luxuries available to mankind. But, running an online business is not a walk in the park as many claim it to be.
I started explaining the concept to my friend and before I knew, 2 hours were gone. I figured out that this was a common question everyone had since many had asked me similar questions before.
Here is my answer. It Depends!!!
Now, I have talked about blogging not being a viable business model. So this post is about whether you should actually start a real business rather than starting a new blog.
Should I start an online business?
As I said, it depends on a lot of factors. It’s not just the economic conditions that decide whether your online business can be a success or failure. It depends on your character, your goals, your passion, market demand, and various other factors.
Your goal might be to make a million dollar each year. But, for someone else a few thousand dollars is all they need. For you, online business might mean being able to afford the latest gizmos or the finest car money can buy. For someone else, online business might mean the ability to live peacefully without much luxury.
Everyone has different goals and visions.
Before you plan about your online business, understand whether such a venture is right for you. If you expect to make your business a success without spending any time on it, then online business is not something you must look forward to.
It’s definitely possible to start and succeed in any online business. There is no “right time” to be in business. Any time is the right time if you do things right.
I recommend that you start an online business no matter what age group you are in, what your financial condition is, and what your end goal is. I also recommend that you invest in professional liability insurance to protect your business from negligence lawsuits.
Humans are highly gifted. We have the ability to think and make changes. As we learn and move ahead, we can make changes to almost anything. Habits are difficult to change, but not impossible.
If you have ever thought about running your own business, now is the time. Start now and you will find success. If you are prepared to work hard in the planning phase, you will be rewarded when you venture into your own business.
Hacks to Develop an Entrepreneur Mindset
What lies behind us, and what lies before us are tiny matters, compared to what lies within us – Ralph Waldo Emerson
Not everyone can be successful entrepreneurs. But the few who are, makes all the difference.
Whenever people plan to start their own business, the number one reason they put it aside is because they do not have the correct mindset.
Our minds are conditioned in a way that is not receptive of the entrepreneurship idea. Successful business owners knew this and they were able to overcome this. If they can do it, so can you.
How to Develop an Entrepreneur Mindset?
It’s not hard to become a good Entrepreneur. But to think like one, is a skill. It’s not something you can develop overnight. It takes patience, practice and the courage to stand up for what you believe in.
If you are like most entrepreneurs who find it hard to achieve success, it’s largely because of your mindset problem. Here are a few tips to think like an entrepreneur
- 1. Let go of the habit of following the herd. Successful people do not go with the flow, they go against it. It does not mean you have to do things the opposite way either. Shiv Khera puts it as, “Winners don’t do different things, they do things differently”
- 2. Take action NOW and not LATER. An entrepreneur acts and does not wait for the right moment. He believes that doing is more important. Procrastination is best said as road blocks to entrepreneurship
- 3. Do not be afraid of failure. It’s inevitable that you fail at some point of your entrepreneurship life. But, that does not mean your life will be full of failures. People who fail and still strive forward succeed
- 4. Money does not come to you unless you go to it. That does not mean you simply find means to seek out money, you must earn it. Only hard work and persistence will lead you to it
- 5. Money is not everything. There are much more important things in life than money. Many people ruin their lives going after money alone. It’s a means to a better life, not the better life itself
- 6. Believe in luck and thou shall be unlucky. It’s always handwork that provides results. People who don’t want to work hard, claim the hard work of others as luck
- 7. Be ready to accept responsibility. Entrepreneurship is not a walk in the park. It requires your time, commitment and a responsibility taking attitude. Prove to others you are a true leader. Responsibility comes to those who are ready to shoulder them
- 8. Believe in yourself. You must be confident that you and your business can succeed and make profits. If you do not have self-confidence, how can others be confident in handing over their money to you?
- 9. Opportunity comes knocking to everyone. Only the best realize that the opportunity comes knocking and act at the right time. There is no second chance. Just like Mahatma Gandhi’s words, “Do or Die”. Be proactive and realize the opportunity when it comes to you.
- 10. No amount of reading will make you an entrepreneur. Take out a pen and paper. No word processing software’s please. Now, write down your entrepreneurship goals. Believe in your abilities. Implement what you want to do now. There is no better time to be in business that the present.
I know this is a blog which covers mostly blogging topics. I believe that for professional bloggers or aspiring pro bloggers, a doze of entrepreneurial advice is essential. Sometimes it’s these little boosts that make a big impact.
So, do you want to start an online business?
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