Being my own boss is glamorous. No longer having to answer to people above me. It’s a dream right? Yes, but it wasn’t always that way for me. Physical businesses are hard especially if you’re going at it alone. That’s why I ultimately became successful through an online business. Here are my thoughts:
95% of small businesses fail. So if you’re starting a business that doesn’t already have an established business plan with proven financial results then don’t expect financial gain right away. There’s a huge difference between online and in person businesses. It takes hundreds of thousands of dollars to start a physical business so be prepared to take out loans or borrow money. If you’re starting a physical business don’t expect financial gain right away if ever. Definitely get a business partner. Don’t do everything on your own. With physical businesses you have to love all aspects, including the paperwork, or get a business partner who loves the parts of the business that you don’t love. Especially if you’re starting a physical business for creative purposes. Trust me, the creative part is what you’ll be spending the least amount of time on under the piles of paperwork and physically drained body. And this is true even for things like food trucks or something as small as a stand at a farmers market.
This is why I started working online. The online world is booming and has been for a while. It also gives people easier access to multiple streams of income. There are more than 2 billion active Facebook users and over 75 million active Instagram users. Which means ads all over the place for people to see and click on. With these amounts of people on social media, companies like amazon are able to sell over 300 products per second on peak days. That’s more than 26 million products a day worldwide. Consumerism is at a high and it’s time people became more conscious of what they are actually buying.
I knew if I started working online I’d only align with sustainable products. Except I already knew how hard physical businesses were and making my own products and labels and investing money without knowing any form of a financial return wasn’t something I was interested in pursuing again. But aligning with an already established company with sustainable products healing the world. That was something I could get behind. The business plan was done for me. All I needed to do was make sure that the compensation was worth it in the long run and when I found out about the legacy income for my children I was hooked.
This is why I recommend starting a business through an already established company. Make sure they have products that people need, want, and love. Something as vital as water. Make sure the products are high ticket items so you’re not selling thousands of them just to make ends meet. Make sure you can never go backwards. Make sure you don’t have to continuously buy products or pay fees every month or year in order to have an active business.
Do you think a millionaire got their money by spending no money? The more you invest, the more you create. Don’t expect to start a business online or in person for free and get a lot of money out of it. That’s simply not possible. Also don’t except to invest very little and get big financial gain. In other words, don’t expect to invest a couple hundred dollars and be making six figures a year. Remember, it takes hundreds of thousands of dollars to start a physical business. Now, it shouldn’t take that much to start a successful online business but it will take more that a couple hundred. Don’t be afraid to take out a loan or start a credit card or borrow the money or sell some stuff. Get creative. If you’re too afraid then ask yourself if you actually want to be your own boss? I’m also not saying that every person who aligns with an online company will automatically create successful income results. But from experience and research it’s a heck of a lot easier to than any other form of starting a business whether online or offline.