The Instant Success Myth
Before you quit your day job get the plain straightforward facts on the home business hype. The Internet has certainly opened a plethora of opportunities for YOU. The question is: Are you prepared to chart the labyrinth that lies ahead?
Statistics prove that a vast of majority of all new businesses fail. The primary causes of this failure are undercapitalization and poor planning. The truth of the matter is the average potential entrepreneur becomes an impulse buyer. Similar to buying popcorn and hot dogs in the movies simply because it is flashed across the screen, tantalizes the senses and induces the purchase.
Starting a home-based business must be more organized and well planned than that. Certainly you may happen upon a great idea. But, do you have what it takes (financially, emotionally and professionally) to see it through. Just because the idea may be a terrific one, it doesnt mean that you can make it succeed simply by buying into it. All ideas take HARD WORK and CAPITAL. The less capital you have the more hard work you will have to contribute. Some of the, so called, advertising and marketing gurus will try to mislead you the unsuspecting entrepreneur into believing that if you just buy product A and set up a website tomorrow you will be rich. Nothing can be further from the truth.
In most cases I personally try to find out what the website owners primary job is. If they are still working for J Steam Cleaners, then that great idea may just be that a great IDEA. Not that the idea cant take off. But, do you have what it takes to make it take off. How do you know if you have what it takes for this? I will outline a few things you can look at. Remember, to be successful you do not have to reinvent the wheel just find more uses for it. Or, perfect the uses we now have. Like they say at a well know company we do not make the product we just perfect it. The Wrights may have invented the airplane but look where Boeing and McDonald Douglas, etc. have taken it.
How do you know what business is the business for you. Many marketing experts suggest finding an area you truly ENJOY. Well this can be a realistic guide because most businesses do not make money within the first few months. In essence however, what they are saying is: make sure you have the patience to stick out the rough times. As a businessman I have done many things I DID NOT LIKE and made lots of money. So this is not necessarily true. The key to success is to find a demand and fill that niche (unique need).
The purpose of this newsletter is to approach the idea of the home business instant success hype realistically and honestly. Many have tried and failed at different businesses, even the Internet marketing experts among us. Many people would not admit to that, but it is true. In fact I have found out that NO ONE tells you the whole truth. Hypes like for $100 dollars you can set up a website and start making money in 24hrs proliferate the Internet. It may possibly happen. But, yet no one answers these questions: How do surfers find your site in 24 hrs? How can anyone actually get a top ranking on the search engines in 24 hours? Who do you sell to in 24 hours? Most of these questions remain unanswered. My guess is more like $1,500 -$2,000 over time you can really get the ball rolling. For $100 you can set up a site but it would take a lot of HARD work from that point to sell something. I would not even consider a venture under $1,000 unless you really have the time to put into promoting and marketing your website. [At least 2 hours a day]. If you are already at home and do not have anything or much else to do, this would be the way to go. I honestly believe that you can turn that $100 into something great.
Now at those figures you can probably do something in a month or two. However, NOTHING is how it seems at first glance. Not that those great ideas are not great ideas, nor, that they cannot work. But, be aware they are not three SIMPLE FREE steps. There is no instant overnight magic. It takes a lot of CASH or SWEATY EQUITY. Take it from one who is doing what you are about to attempt to do. I am being honest and down to earth. I am convinced that the great marketing guru like Corey Rudl knows what he is talking about and I have bought most of his programs and use them effectively on my site rms4profit. As a matter of fact I am one of his affiliates. However, like I say it is no overnight magic. It takes work. Lots of it. Forget the hype. The reality is, nothing in life is that easy. While most of the ideas are practical and fairly simple to implement, do not expect to quit your day job and rake in the profits on a shoestring capital overnight.
Much work goes into establishing yourself as a premier entrepreneur. There area a few tips which can ensure that you achieve your expected goal. Firstly, if all else fails you must LOVE what you are doing and have the capital and patience to stick it out. Secondly, (and personally I think this should be first but sadly most people do not see it my way), you must find something that is in demand. Something the Public or a segment of the public big enough to meet your income goals or requirements need and is willing to pay for.
My first business was a convenience store. I was excited and had many convictions as to what I would sell. An old experienced businessman and a banker friend advised me against it. Sell what the people want and not what you want, was their echoed advise. I did not listen and of course I failed. My advice to you just starting up with no idea of what kind of business to get involved in is, find a niche and fill it. NOTE I did not say find what is HOT! You can get burned. There is a difference. A niche is an area not being filled and is in demand, or, an area with a large enough market share to facilitate your income demand. What is a market share? Simply put: If there are 600,000 people needing and BUYING Gravel Flying Pads ANNUALLY and there are 10 companies supplying it, then the market share is 60,000 for each company. If each pad cost. $2.00 then each company has the potential to make $120k annually. When you add your company it becomes 11 companies the market share is now 600,000 divided by 11. You get the picture. The question then becomes is this a sustainable income?
Right now there is a demand for products delivered electronically over the Internet, They are very easy to produce and even less hassle to deliver and market. No experience is needed. However, it is no instant success. But, it is a good sustainable income. As a new entrepreneur on the Internet you have to create multiple income streams. Actually, a multiple income stream is a must. I encourage the work at home self employed mom or dad or child for that matter to use the overture word search and see how many people on a daily basis are actually looking for what you are selling and no matter what, dont give up. I also encourage you to research carefully the area you plan to venture into.
Sign up for a few newsletters read all you can read. Read articles on the area you intend to venture into. After all you have worked hard for your money. Not to throw it away on some whimsical notion. Remember you can succeed. If you truly believe in your idea there are ways to test them. This article does not cover the scope of that topic. Do not let limited cash become your stumbling block or your great wall. Your idea is your capital. You too can succeed. If I can do it so can YOU!
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