Starting an online business has been one of, if not the most exciting thing that has ever happened to me.
You are in total control of your destiny, and there are tons of resources available to help you succeed.
While none of that will change, there will always be an end to the honey moon when you see it for what it is.
You notice there are both internal and external factors that are at play, and often times won’t align with each other together.
When these inevitable situations arise, this is when you take a step back, dig into your roots, and acknowledge that there hurdles that come with running a business.
Some of the most common ones are as follows.
3 inevitable realities when starting an online business…
You may not be profitable for a while when you are getting things set up the right way on the first go.
Take starting on online retail business for (random) example. You will have to pay to have a nicely designed website that is optimized for easy navigation and features such as easy to locate product displays, search options, shopping carts, checkout, secure payment options and credit card processors. We also can’t forget the marketing and promotion of your website to generate traffic.
These are all costs (more like investments) that you will incur before you get into profit when starting an online store, or starting an internet business of any type for that matter.
What I mean by this is whatever you thought was the ultimate solution to your problem is probably not.
Usually there are several missing pieces in making your online business ideas work.
When you do figure out the missing pieces, it may not be a bad idea in starting an online business checklist of things you must do every day to start producing your desired results – that way you can rely on numbers, not your emotions.
There will always be key resources and knowledge you must acquire before reaching the next level in your business.
Never, by any means, think that knowing only what you know now will be enough.
3. Your business will NEVER succeed on its own
Your online business success will be a result of your daily efforts which turn into habits, good or bad.
So many people think they can automate their entire business and just cash in on checks all day. That, my friend, is how you fail fast.
A prime example I can think of is starting an online store on eBay or Amazon.
One of the misconceptions I hear all the time is that all you need to do is list items once, and the money will start pouring in which is far from reality.
Trust me, this never happens and people end up quitting. One of my first online ventures years ago was dropping shipping.
In other words, finding items that are selling like hotcakes on Amazon and listing them on eBay with a 20-50% markup.
The great part about it was I never, ever had to see or even touch the product.
The truth was I had list items frequently. I had to monitor, tweak and test my listings constantly to see what is working.
The same thing goes for selling digital products for example.
You must continue to research trends in your market all while driving traffic to, and tweaking your existing sales funnel to increase your chances of selling.
The failure comes when you don’t adapt and change what isn’t working. This ultimately leads to quitting.
Give your online business ideas a fair shot and understand first what will inevitably happen in your business if you don’t acknowledge these realities.
Prepare for them ahead of time and be in position to grow faster from what you learn as you go.