What You Need to Know About Starting A Business
There are 3 things you must seriously take into account before joining or starting a business.
Staring a business can be a life changing experience in a good or a bad way, that`s why it is very important that you do your research and back ground checks before joining or starting a business.
When you choose to get involved with a business, you must be prepared for all the pitfalls that will come along with it.
Having a business is like having a child in a sense ,because your business will be a reflection of you.
You must be prepared to put a lot of time into your business and nurture it,feed it and watch it grow.
You must also have patience and not expect an instant return on your investment,most businesses take two years before they can turn a profit but that is not always the case, I just want you to be prepared for the struggles that you may encounter while building your business.
Let`s Discuss the 3 Things You Must be Aware of Before Starting a Business
You must be committed to your business and passionate about it.
Don`t start a business just because of the financial rewards you think that business might bring you, have another driving force besides money.
Making money is important and is a motivating factor but that cannot be your only motive and here is why.
You start your business and you work it for a year put some time and money into it but things are just not going as expected so after looking at your books you see a marginal increase in sales but you`re still not turning a profit and you don`t see yourself continuing with the struggle for another year so you cut bait and discontinue the business.
Maybe you would have turned a profit in year two or maybe not but you will never know what could have been, because you were not willing to stick it out, you were not passionate about your business, it was just a money grab or investment that didn`t pan out, so you went in another direction and went back to working for someone else because it was easier for you to follow orders from someone else that is building their own business, instead of you fighting through the hard times and building your own empire.
Now you`re building a business for someone else but if you are committed to your business and your dreams you will find the drive and determination to fight through those difficult times and turn your dreams into a reality and build the business and lifestyle that you had always envisioned.
You see when your only motivation is money, you will quit on yourself every time because money is only a tool that will help you accumulate assets.
But when you have a passion and a drive then you will do everything within your power to make those dreams become a reality.
When you have commitment and desire, you will find a way to overcome those obstacles.
Money will come and money will go but when you have a win at all cost mentality you will find a way to succeed.
Another Thing That is Most Important in Starting a Business
Knowing how to market your business.
Advertisement is the most critical element of your business, as long as you know how to promote and advertise you will always be able to produce sales and give your customers what they are looking for.
Many entrepreneurs struggle with their marketing and that`s why they struggle with their business.
With the internet being such a powerful marketing tool it`s not like before when we had to go put out flyers and send out mailings to try to attract new customers.
Now if you know a little social media marketing or some search engine optimization, you can put a nice ad together and put it on some social media sites and have people contacting you about your offer within minutes.
Social media marketing is a great way to promote your business and products but you have to know how to do it in a tasteful manner that is appealing to others.
Here are some great resources you can use to help you create ads and sales using social media sites.
The Last Thing You Need to Know Before Starting A Business
You need to know what your overhead expenses will be,then you can determine how much money you need to make to turn a profit.
With a store front business,of course you will have quite a few expenses.
Such as rent,utilities,insurance,maintenance,employees,taxes and so on…
That`s why I moved away from the traditional store front type of business model because the over head was killing me, it seemed like all the money was just going towards paying off those bills, so after ten years of following that business model, I took my business online and eliminated just about all of my overhead expenses.
The only overhead I have now is my website,domain name and mail responder,oh can`t forget taxes can`t get around that!
But that`s about it, no rent ,no employees,my only utility is the internet and I`m in business.
Of course there is a lot more that goes into that, such as having a product to offer but that comes with the business that I am involved with and I also do some affiliate marketing , which is selling other people`s products and earning a nice commission, no stocking,no shipping, just create an ad on my website with a direct link for the customer to order and that`s it.
I never touch or see the product, I just collect a check when somebody orders, not bad right?
Yes it is a nice side business but it all goes back to what we discussed earlier and that is your marketing, as long as I can get that ad in front of the right people I can always turn a profit and so can you, just choose a marketing strategy and master it and start building your empire from home.
There are many online and work from home opportunities out there you just have to find the right one for you.
Leave a comment and I can give you some good recommendations based upon what you like to do.