Every day millions upon millions of people are dragging themselves out of bed, taking a shower, getting dressed, gulping down a quick cup of coffee, and maybe scarfing down some breakfast if there is time, to head out to jobs in big office towers or factories; the brick and mortar world. All the while these same people are thinking and wondering if there is an easier and better way to make a living.
Pretty much every one of these people knows someone, or knows someone who knows someone, who has quit this daily grind and is now (happily) in business for themselves. Some are sitting in front of their computers in the comfort of their own homes offering virtual assistance, consulting, or involved in internet marketing and sales.
Working from home does sound appealing doesn’t it, and it has to be the ideal solution to the day-to-day-get-up-and-go routine and rut they have fallen in to. After all what can be so hard about starting a business from home? There are countless “opportunities” floating around the internet and countless more untapped markets and niches to explore.
So, many of these dissatisfied and disillusioned souls will up and quit their jobs and plunge in to whatever business venture they have decided on, without preparation, without education, without the real knowledge and experience they need to be successful. The only thing they do have is hope, and maybe some ambition and drive. Failure isn’t even considered an option.
According to many sources, more than 90% of all home-based business start-ups end in failure within the first 3 months. Yes this is a very high percentage and should be a good warning to anyone considering quitting their day job and diving head first in to any business. But wait. What about the other 10%?
Certainly, success is possible. There is that other 10% that have built profitable and successful businesses, and left the brick and mortar world behind. However their success did not happen by accident and it certainly didn’t happen overnight. It happened because of some very important factors.
- A good and solid business idea that was well researched.
- The proper tools in place: a business plan, knowledge of the industry, relevant skills and education.
- Time to devote.
- Realistic expectations.
- And enough in the bank to live on until the business starts making money.
They knew from the beginning that their business was going to take a lot of time and effort on their part to make it and themselves successful. The road ahead of them was rocky and unpredictable, but with some good planning and navigation they just could make it to the finish line.
I find it very strange how some people wouldn’t even think about starting a brick and mortar business in the real world, although they may be very experienced in a certain area, but will jump right in to a work-at-home business without any thought to what is really required, without any knowledge of the industry, and without any business background. Their main focus is that they will no longer have to get up and go to work.
After all, the only things they have to do to get started is build a website and hang a shingle right? And then work whenever they feel like it and still make a living. Talk about being misled and disillusioned. The hard work and long hours aren’t even on their radar.
Reality check!!
Running a successful business of any kind, be it from home or brick and mortar, requires self-discipline, time, effort, and lot of blood, sweat, and tears. Partying all night and sleeping until noon every day, allowing only a few hours of the day to actually work, isn’t going to cut it. Clients and customers aren’t lined up waiting for you to “open” so they can give you their business and their hard-earned money. Hey, with this behaviour they won’t even know you are there to begin with.
Realistically of course, no matter what you do, or don’t do, success isn’t guaranteed. Nothing is. There are always circumstances that may be beyond your control. But why not give yourself and your business a better chance of being that 10%? Why not reduce the risk of failure by optimizing your chances of success?
You can optimize your success by:
- Having a good and solid business idea that has been well researched.
- Not falling for “get rich quick” schemes. There is no such thing.
- Writing at least a simple business plan before you launch your business.
- Making sure you have a strong understanding of the industry, and relevant knowledge, skills, and experience.
- Working long and hard to accomplish your goals.
- Being realistic in your expectations.
- Ensuring there are adequate financial resources available to back you up and carry you through.
With the proper tools and mindset your business will have a far better chance of not becoming part of that 90% group.
Be the 10%!