I ran across this site. The give some good advice on a number of business topics.
Click Here: How Do I Survive Until My Business is Off the Ground?
– From BusinessLink.gov.uk
What of the most difficult things to do when you first go into business is waiting for the money to start flowing… or simply to pay the bills… breaking even is always nice.
Honestly, don’t let the hype out there fool you… Don’t buy into you can get rich overnight. Most of that is a bunch of “you know what”.
It is simply not that easy.
The online world is just like the offline world when it comes to business. When you start a business expect there to be a learning curve, expect to work hard, work long hours, and even invest money before you see a decent profit.
Like this site says above:
Many businesses do not make a profit in their first year but can earn enough to cover their outgoings. Even if your business generates more than this, you may want to re-invest it to help your business develop. You may therefore need an alternative source of income while your business is growing.
Don’t sell the farm… don’t necessarily give up your day job right away. I know you hate it and are itching to strike out on your own, but think before you act…
Listen, I run my own businesses, but I didn’t just quit everything else before I started one.
I got into the insurance business in 1997. I was a full-time bartender and struggling artist…. I dumped being an artist; it wasn’t making me any money anyway.
BUT I stayed on as a bartender for a couple of years until I had a good foot hold in my new career. I’d work at the office during the week and bartend at night or on the weekends…
Then when I got into my contracting business, I started part-time, just as a weekend gig… which quickly took hold and I was able to leave insurance and do it full-time…
I don’t just do online stuff. I still have my off-line businesses now. If I make a million dollars online will I close shop offline… probably. But until then I’m going to keep my foot in both worlds. You never know what might happen… I like my bases covered… for now.
Some of the most successful people I know online either are still in an offline business or career and work online as well… or they waited until the cash was flowing big time online before they took the risk to leave their job.
Listen, this is especially important if you have responsiblities. Your wife, kids, family come first. Make sure there is food on the table.
You can still have big dreams! You can still take risks, but make sure they are calculated. What can you afford to lose??
I could certainly stop my business offline, but I won’t right now. I’m doing fine in my current situation. And it gives me more stability which my wife seems to enjoy the most!
Calculate what you can risk; consider combining another form of income until your business is rocking… there is nothing wrong with that. Businesses have done that for ages!
It is not uncommon for a business not to show a profit for a couple years even! Some of the most successful and biggest businesses in the world started that way! True story. I’m not saying it will take you that long, but just trying to show you the realistic side of life.
The key is persistence and focusing on your goals, never giving up AND caclulating your risks… If you decide to succeed, you will in time.
OR you could get lucky and strike gold your first day… ya never know!
I encourage anyone that is involved with web developement or SEO to read this… You can see a lot of what Google is doing with their Algorythm by looking at their Patent.