In the centuries prior to our modern web-based era, a business wasn’t that easy to start. In the earliest times, you needed a skill and some equipment and inventory to get it running. As bureaucracy increased, you also needed to make sure you had the right licensing, and it probably meant more than one trip to a government office before you could hang out your open sign.
Today, starting a business is as easy as buying a domain name and finding an affiliate product to sell. In some cases, you don’t even need that! What’s to stop you from starting one business a day and ending up at the end of the year with an empire of 365 businesses?
“Thank goodness we live in an era that would make this possible,” many would say. But that statement might be quickly followed up with “why aren’t my businesses selling anything?” The 1 successful business of yesteryear might be making more than the combined income of the 365 businesses you’re setting up online today.
Today’s web-centric business world makes starting businesses so easy. In some ways, that’s a good thing because it means more people can pursue their dreams of becoming business owners. But in many ways it’s also a bad thing. Want to know a key reason why fast-to-start and easy-to-run online businesses fail today? It’s because they are fast-to-start and easy-to-run!
No, there’s nothing wrong with those qualities themselves. The problem is that the entrepreneur’s mindset is different today. In previous years, serious thought, planning, investment, and time was devoted to starting one business. You had to jump in with both feet and work hard to make it run. Failure was still common but businesses failed for different reasons back then. Failure rarely happened because the entrepreneur wasn’t spending enough time or investment in the business.
But today, businesses still fail at an alarming rate but the reason is different: Rather than investing a lot of time and effort and planning into starting a business, someone can start a business with no money and no time and no plan. They’re not jumping in with both feet; they’re just dipping their toe into the world of entrepreneurship.
But entrepreneurial success requires more than your toe. To be successful, it requires your full determination. It requires serious thought and planning. It requires an investment of time, and perhaps even some money.
Online businesses can be fast-to-start and easy-to-run but that doesn’t make them completely hands-off. And, many of today’s technologies do allow for automation of a lot of an entrepreneur’s effort, but that doesn’t mean that the entrepreneur can ignore the business while they sip margaritas on the beach.
Instead, online businesses are just like offline businesses in the required investment of time, effort, money, and planning. If you have a business that is floundering, there’s a good chance that it will do significantly better when you roll up your sleeves and give it your full attention. And if you are starting a business and want to ensure its success, jump in with both feet.
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