Why You Should Not Start An Online Business

Why You Shouldn’t Start an Online Business If You’re Not Prepared

I receive lots of emails from a readers trying to make money online, most are simply after a quick buck, some are genuinely trying their best to get an online business. The comments generally read like this…

• Hi, what’s the best niche for me to make the most money online?
• Hi, I’m trying to sell stuff on ebay. What’s the best things to sell to make the most money?
• Hi, I need a good business where I can make lots of money quickly and easily (don’t we all) without too much effort or a computer as I have to use the local library’s computer to get online.
• Hi, I have recently spent $3,000 with [XYZ training program] and got ripped off. I have information overload with their tutorials and weekly discussions. I just don’t have the time to follow the training. What can I do?
• Hi, I am a single mum in financial need. I am computer literate but not particularly Internet savvy. How do I find a profitable niche? Please help!
• Hi, How can I be sure my idea will work? I can’t afford to waste time on something that isn’t successful.

I get a surprising number of emails like these.

First, let me state this is not a piece against ebay or online training programs.

• Online training programs which contain quality information, when purchased by the right people can be a great investment. The right training program will help you make your online business a success, but you must be in a position to fully apply the training from both a timeframe and skills perspective. If you cannot do this, you are wasting your time and money.

There seems to be an underlying pervasive mentality that with the right “system” anyone can make money online. Get one thing straight now, there is no magical “system”.

• Starting and running a successful business is just plain old fashioned dedication and hard work with a little bit of luck thrown in.

That having been said, there are those who should not start their own online business. Are you one of them? I’m not trying to reduce the competition by discouraging you. I am trying to provide a realistic perspective from which you can make an informed decision about whether you should get online with your business. Starting an online business is not for everyone.

Should You Start an Online Business?

The following will NOT be the type of information you will see on any over-hyped training program relating to starting an online business.

In my opinion the only thing worse than not trying to achieve your dream of starting an online business, is wasting months, maybe even years, of your valuable time and money because no one was honest with you about what was really required to succeed online.

You Need to Make Money Quickly?

Contrary to popular belief, if you need to make money quickly, starting an online business is a really bad idea!

Building an online business can take months of research before you begin. It may then take several years before you make any significant and sustainable income. This is presuming you already have the necessary computer, business and Internet skills.

• If you need extra cash quickly because you cannot cover this months rent, your best bet is to increase your income through a traditional job.

I’m not saying you should resign yourself to being employed for the rest of your life. Just be realistic about your current situation. Anyone who tells you, “make a million online, no skills required” or “use our ‘proven system’ to make money fast” is simply a con artist. You would do well to stay clear, you are buying into a pipe dream.

All legitimate businesses take time to grow. You are highly unlikely to be an overnight success.

You Need a Guarantee of Success

Nothing is certain but death and taxes. A rather fatalistic and sardonic proverb indicating that nothing in life is guaranteed other than the fact that you will (eventually) pay your taxes and die (not necessarily in that order).

In business there are definitely no guarantees of success, despite what those slick-looking training programs would have you believe. The only place you are likely to get a guaranteed return for your time is with traditional employment.

• As an entrepreneur you must be willing to accept failure, then get back up and start again.

No business is guaranteed to succeed or even continue with their success. Who would have though the CRT based TV would be replaced virtually overnight in the western world with digital products? Even if you have the better product (technically) you are not guaranteed to succeed. VHS (the inferior product) won the greater market share over Betamax by using better consumer marketing.

No matter how much research and planning you do, at the end of the day, it’s simply a matter of suck it and see. Strategic planning and research will help, but in the end, you must commit despite your doubts. There will always doubts and reservations, if there wasn’t, there would be no excitement.

If you need certainty and guarantees of success then starting an online business is not for you. If you’re “betting the farm” on a venture that must succeed then you definitely shouldn’t be starting an online business. Think again.

You’re Not Willing to Accept Sacrifices

All business, whether on-going or start-ups require sacrifices, usually in the form of time and money. If you’re not able to invest the necessary time and money you won’t be able to build a viable business. This applies especially to start-ups.

When you start an online business your family and social life will definitely suffer. You may have to work overtime in your current job to provide additional finance. You may have to sacrifice your weekends to get the business online. You may even have to quit University (Bill Gates).

• Moving forward is not always painless or pleasant.

Sometimes some very hard decisions will have to be made between family and business, and most of the time, family will lose. Sometimes progress can be a real pain. If you cannot accept this, do not start an online business otherwise you will lose both your family and your business.

You’re a Technical Dummy

It has become relatively ease to launch an online business today. This is due in part to services like Shopify and other top drop shipping companies, who make it possible to get an online store without programming experience and with very little technical knowledge.

But be warned, if you’re not web savvy you’re going to struggle.

You must learn how to use the tools of the trade, email marketing and autoresponders. Even with all our technological advances, without the correct knowledge everything will become increasingly frustrating as your business progresses.

You will require a basic level of online competency. Being “web savvy” is simply the price of admission to starting an online business. If you’re not willing to be constantly learning, maybe you should try something else.

Feeling More than a Little Discouraged?

If your feeling a little discouraged, don’t worry about it.

If you’ve decided you’re not in a position to start an online business right now, that could be the best business decision you’ll make. The good news is, no matter what your current situation, with the right motivation it can only get better. Even if you are not in a position to start a business right now, you can always do so in the future. In the meantime use your time wisely, learn what you need know. Your public library (yes books still exist) and the Internet can provide all the information you need, most of it for free.

• You’ve only failed when you don’t get up and try again.

The bottom line (and it’s always about the bottom line), make sure you’re starting an online business with the right skills and expectations and you are much more likely to succeed.

• Relentless optimism is a requirement for success in any endeavour.

Finally, if you have any thoughts or suggestions relating to starting an online business, don’t forget to let me have them in the comment box below. Thanks for dropping bye.