Collaborative post – may contain affiliate links
Starting a business – especially an online one has never been easier and more accessible than it is today.
In the past, starting a business was a huge big deal, and that’s not to say it’s not a big deal today, but it was just so out of reach for most people. Even 15-20 years ago, if you wanted to start a business you would have to have a really unique idea, or at least a very specific angle on an existing idea.
That was the easy part, you’d then have to invest a lot of money to get your venture off the ground and oftentimes this involved either having your own savings that you’d use or approaching the bank for a small business loan, and a lot of these were declined.
Fast forward to the present day, and anyone who knows how to switch on a computer can start an online business, there’s an endless amount of paid and free support for aspiring entrepreneurs to help them get started, as well the opportunity to work with clients from all over the world without even having to spend money on advertising to actually reach them – with social media, the world has become much smaller, and that’s a great thing for those looking to create a life on their own terms.
However, as the saying goes – just because you can, doesn’t mean you should.
Starting a business may be easier and more within reach, but it’s still hard work, and it’s definitely not for the faint of heart, so with this in mind, we wanted to give you a variety of points to consider for yourself if you’ve been thinking of starting an online business so that you don’t waste time or even money on something that you later realize was a mistake.
We want to help you make the right decision, so here are some things to consider when it comes to starting an online business.
We’re going to look at some of the wrong reasons people get into working for themselves.
The reason we’re doing this is because we know that social media can really show things in an unrealistic way and often people who are marketing things like courses to help others start an online business will flip these points around and manipulate people’s pain points to lure them into thinking that starting a business will solve all of their problems and make them millionaires when that really isn’t how it works.
We want to give you the full picture so that you have a realistic idea of what business entails and allow you to not make a mistake.
You may NOT want to start a business if these are your motivators:
You Hate Your Current Job:
Let’s be honest here, everyone has a moment of not loving their job, because life isn’t going to be perfect all the time, and no one is saying you should put up with a bad job and be miserable, but if this is your only motivation for starting a business, then your heart probably won’t be in it as much as is needed to keep going during tough times.
Many people who have started their business will often cite hating their job as a reason, but you can be guaranteed that if they’re enjoying a good level of success, then this is not the only reason.
You Hate Your Boss Even More:
Again, your boss may not be your favorite person in the world. In fact, they may be downright horrible, but using hatred for anything as a reason to start a business really isn’t bringing the best mindset or energy to your new venture.
You Only See The Dollar Signs:
Of course you need to make money, and you should always set good financial goals – especially for your business. Unless you’re running a charity, then you should never apologize for needing and wanting your business to be financially successful, but if money is your primary motivation, then your business is as good as doomed.
Not only will you find you have very little passion for your business, but you’ll fail to feel fulfilled, and as much as you may be surprised to realize it, people will actually see right through it, so you won’t really be as financially successful as you had initially hoped, anyway.
Even if you’re not completely focused on the money side of things, doing your homework before starting a business is definitely something you should be doing anyway so that you can estimate what the potential of that business is. Reading books on sales, marketing, attending webinars, and even getting your hands on some guides, such as Estimating Market Size: The Complete Guide For Startups And Small Businesses can really help you avoid a lot of the mistakes that new business owners make.
You Think Starting A Business Means You Won’t Have To Work:
Again, social media and the rise of self-proclaimed online business gurus shares a big part of the blame here for making the running of an online business look so flawless and easy, and whilst it’s true that you will have more freedom when you’re the boss, in order for your business to actually be successful you’re going to need to put in the work to make it happen. If your reasons for wanting to start a business is not wanting to do any work, then you may have to reconsider.
You Don’t Want To Work At Certain Times:
Yes, it’s true that in most cases when you have an online business, you have more flexibility and freedom over your schedule, but this is simply a perk and shouldn’t be a main reason for starting a business of any kind. The thing to realize is, when you’re the boss, you’re always the boss, so although you get to take time off if you want provided you have systems in place to cover you, you also have to step up when things go wrong, and sometimes things don’t always go to plan and you’ll have to to work at unusual times even if you don’t want to. Building a successful and sustainable business means taking the good with the bad and understanding that it won’t all be smooth sailing.
You Think It Will Be Easy:
Although people online can make it look easy, and just because it’s easy to start a business, that doesn’t mean that the day-to-day running of the business itself is easy. It’s also helpful to remember that social media rarely shows the challenges, problems and downsides of things, so it’s not the best place to be looking if you want a realistic idea of what running a business is all about.
Certainly, you should never start something just because you think it will be easy, because business is far from it, as is the case with most things that are worth doing.
You Don’t Like Authority:
Whilst none of us particularly enjoy being told what to do, if you’re only starting a business because you don’t want to answer to anyone, then this is only going to lead to bad things.
You Only Care About Having Fun:
Your business absolutely should be fun – otherwise there’s really no point, because it should be something you love to do each day and that you have a complete passion for, but if you’re only interested in having fun and are using that as your reasoning for wanting to start a business, then it’s not a great idea.
You Think It’s Going To Make You Famous:
In recent years there has been quite a disturbing growing trend of people using their online business as a way to make themselves famous – though there’s nothing wrong with creating fame through your business when done for the right reasons, many of these examples simply use it as a way to boost their ego and aren’t actually interested in helping people or using their business for the greater good.
Your business, depending on what industry its in does have the potential to make you famous in some circles, but if that’s your primary reason for getting into business, then you’re going to be sorely disappointed.
Not only will it lead you to a business that’s not enjoyable or fulfilling to you, but it takes a lot of time and energy to build up to that stage, and if you’re not creating authentic and organic fame for the right reasons and are using it for your ego, then people will see right through it and won’t want to work with you, anyway.
Someone Else Is Trying To Get You Onboard With Their Business Idea:
If someone else has a business idea and has approached you for a potential partnership, then this is something you need to think about very hard. There will be so many factors that go into making this decision, and that includes if the person is a family member or friend, and if you trust them to be able to run a business, as well as if they’re putting pressure on you to join them or are letting you decide at your own pace.
Having your own business is a wonderful thing and can lead to great rewards and a very satisfying career, but you need to be sure it’s the right thing for you before jumping in, and not just doing it because you feel like you should.
2 thoughts on “Is Starting An Online Business The Right Decision For You?”
I agree with most of the points you made in this article, and I agree that any one of these points should NOT be the sole reason for getting into online business. However, I think that if you are able to recognize that starting an online a business will require a real commitment and success will not come overnight, some of these points may be a legitimate case for starting an online business.
For me personally, I don’t like the idea of working for someone else and making someone else rich. I want the effort I put in, to directly contribute to the money I make. If I put more effort into my online business, I will make more money. If I don’t work for a few weeks, I will probably make less. With an online business, that is on me and me alone. By setting up my business in a way that I can automate many of the mundane tasks, I can pull myself away from my business from time to time, creating a passive stream of income.
Some of the points you made above are indeed factors and reasons that I wanted to get into online business. However, I do think that majority of the people who get started in online business for these reasons, aren’t giving themselves the whole story on what is needed to be successful. People are more looking for the “Get Rich Quick” concept that just doesn’t exist. I understand that my commitment is going to be required for my business to be successful.
Thanks for the post!
Thanks for your thoughts Nicholas!