“Should I start my own company online?” Millions of people worldwide have asked themselves this question in the past few years. As the internet grows and traditional businesses are on the decline, “should I start my own company online?” is a very logical question and one that deserves to be answered by a qualified individual. So, before you read any further, let me tell you why I am qualified to answer that question…
As a former mortgage professional, I watched as my industry and my employer got squeezed into oblivion. While this was happening, I began to ask myself, “Should I start my own company?” Well, long story short, I did start my own company online and thank goodness I did. My online company has enabled me to weather the storm of the recession. Literally, my life was changed by my decision to start my own company. Ok, enough about me… you can read how to start a Limited company my profile if you want to know more. My only reason for telling you this is to emphasize that I am qualified to answer the question “Should I start my own company online?” So now let’s move on.
If you are debating on starting your own company online, here is what you first need to ask yourself. These questions are absolutely critical to determining your chances for success. Remember, most new businesses fail within the first year. Let’s try to keep you from becoming a statistic.
Would it bother you to put in hundreds of hours of work BEFORE you make any money?
Any new business will require a huge effort. Whether the business is online or traditional, if you are to succeed, you better be OK with doing a great deal of work before you ever see a profit.
Have you always been a “paycheck” type employee?
If you have the mindset of getting paid every two weeks or every month, then you need to be able to change that mindset before you start your own company. You could go months before getting a paycheck.
Have you ever worked on a commission basis?
If you have, then you probably are a step ahead. You are used to getting paid for your production rather than getting paid for your time.
Are you willing and able to invest time and money into your own education?
This is a VERY important question. Starting your own company online means that you may need to learn some skills that you have not yet learned. Not only will you need to learn some website and web design skills (even if you have a site designer it will be in your best interest to learn a few things so you are not always dependent on someone else), but it will be imperative for you to learn some online marketing skills. These are things that only the very top marketers really know well and you will not be able to get this information free. Think of it as tuition, you are going to need to learn how to market online and you will probably need to pay tuition in order to do it. If you are not willing and able to learn and invest both time and money, then you may be in trouble.
Do you have a deep rooted desire to succeed?
Starting ANY business requires a gigantic commitment. You CAN be successful with an online business if you are persistent, consistent, motivated, and driven. The problem with most people is that they think it is going to be easy and their expectations are not realistic. Having an online business is nothing close to “get rich quick”. Anyone who tells you differently is lying to you. However, you can get rich with an online business if you have the right work ethic. And best of all, you can do it from home and without a boss!