Most business start-ups begin because the founder wants to make something happen and earn a living for his or her family. Even the great companies such as McDonald’s, Microsoft, and WalMart usually started as very small firms and remained that way for a number of years. Most of the founders of these companies had little idea about how big their firms could become some day. They succeeded by sticking to their core business, getting stuff done, and making sure their little companies were built on a solid foundation. The same applies for any online business you want to start.
When you start your own online business, you get the right to choose who you deal with and reap all the rewards of your work. You get the freedom to choose and this is a prime motivator for anyone starting work online.
You are your own boss, so job security is solely reliant on how well you do your job. You will never lose your job unless you go out of business. There are no fears of downsizing, crazy and ego-driven bosses, or ever losing your job title. This is the best job security out there!
The possibilities for creating substantial wealth are limitless. Make as much money for yourself and your family. The better the business works, the more you increase your chances of long term earnings and cash flow. When you work online, you can skip a day of work and still earn money. No more worrying what the “company” will do without your presence.
However as good as online businesses sound, there will always be disadvantages. You have to make the decision on your own by weighing all the options.
Why Should You Avoid Online Business Startups
Most people avoid business start-ups for three reasons:
- Most brick and mortar businesses fail. Three out of five business startups goes out of business in less than five years. The ratio for online businesses is much higher. Often the owner winds up with personal liabilities associated with these failures. In an online business, there is less personal liabilities because the startup fees are much lower.
- When your small company fails, you might ruin your future career prospects by having that out in public. People with good job prospects can have their reputations tarnished by failures. Even if the company is moderately successful, the opportunities to rejoin the large company world later are limited.
- There is a lot of uncertainty with online businesses. Many people do not have the temperament to withstand the uncertainties, ambiguities, and problems associated with business startups and small companies in general.
When deciding about starting and running a new enterprise, remember that it is far easier begun than ended. Once you start, most people wind up involved in small businesses for the rest of their work careers. This is due both to their choice and large companies’ distrust of former entrepreneurs as potential employees. Therefore, keeping your current day job is the best career choice for most people. Think long and hard before making a jump to entrepreneurial life.