Having Your Own Business That Lasts
Written by John Wass on September 16th, 2009Starting a new business venture offers the expectation of great rewards and in most cases there is a high element of risk involved. It’s common to hear that when we’re operating our own business, every time we jump out of bed in the morning we’re unemployed until we make our first transaction! Familiar?
According to many reports, people who are self-employed make up about 25% of our population. Reliable statistics show that just about all of the very successful people we know of started out as being self-employed in their own business.
And there are many occasions where people are really forced to start their own small business. This can be as a result of things like being made redundant, unemployed, downsized, or else their employer’s business collapses, etc. These days these experiences are commonplace, and unlikely to improve much in the near future. There are particular industries where this is more commonplace, such as motor vehicle, real estate and retail, to name just a few.
One of the results of this is the creation of new businesses by an emerging number of entrepreneurs. Are there risks involved? Of course, and most of us know the failure-rate of new businesses is very high in the first five years, apparently up around the 30% to 40% mark according to reliable university studies. So it’s always survival of the fittest in order to have a business that lasts.
However, despite the risk, according to a Master Card study done recently, the majority of small business owners advise their friends to start a business now, instead of delaying for 12 months. And according to an MSNBC report, small business ventures employ over 75% of the net new jobs in the economy. Of these small businesses, although they start out small, many of them grow very quickly. These new start-ups, many of which are home-based by the way, employ well over forty million in the USA alone, plus the millions of others in other countries, and are rapidly growing in numbers. Yahoo recently reported that a large group of small-business people indicated that the internet directly influenced the launch of their new venture in this current economy.
So it doesn’t really matter what your situation is, when you make the decision to become an entrepreneur and start your own business, and you’re passionate about achieving success with a business that lasts, if you’ve made your decision after careful research, the risk-reward factor is well-balanced and in your favor. The potential benefits are huge and are unlimited. Although there is the risk factor of about a fifty-fifty chance of failure, you can get around that by doing some very basic things and having a proven system to work within.
Creating a business that lasts, particularly one that is home based, requires self-discipline, so that when you come across obstacles, as you certainly will, being very clear about your “why” will greatly assist you in sticking with your decision and never giving up.
Super-successful businesses, particularly when you work from home, are based upon your commitment to take massive action. Never ever give-up, be certain about what you want, and just go for it. The rewards from operating a successful small business that lasts are priceless and enable people like you and your dearest ones to have the type of lifestyle normally reserved for the ultra-rich.
Tags: Marketing
