Starting A Business And The Ugly Truth They Don't Want You To Know.
Truth behind hidden schemes that cause entrepreneurs to fail before they even have a chance to operate a business.
There might be hundreds of reasons you are seeking to establish a home based business. Maybe it’s financial freedom, the ability to have more time to do the leisurely things you like, or perhaps to purchase the thing or two that you always dream of.
You probably came across hundreds of sponsored ads on Facebook, Instagram, YouTube and many other Social Media platforms claiming to teach you how to make lot’s of money from the comfort of your own home. I made $50,000.00 in one months and I am going to teach you how you can too, click here for my free course. Sounds familiar? It most likely does.
Most of the information these individuals are teaching you they themselves have never achieved, with a rare exception.
In most cases the headline you’ll see on the courses “I made $50,000.00 and I will teach you how you can too”, is true with a slight twist added to it. For those who are not familiar with the basics of a business, a business is a separate legal entity and it does not represent you.
A business can generate $50,000.00 in sales in a single month, however this isn’t an individuals income. The sales are the cost of goods sold. There is a cost associated with the goods sold such as the cost to make the product or the cost to deliver a service. After, there are additional expenses such as, advertising, cost of operations of a business and dozens of other expenses a business may have.
This number can quickly trickle down and become $5,000.00, and this $5,000.00 is the Company profit, not an individual profit. Always keep in mind, a Company is not you, a Company is it’s own entity. If you are a small business owner this might be the profit before you get paid. What is your actual income? This $5,000.00 or a large portion of it, should be used to re-invest back into the Company and grow your business sales further, point being you’ve actually made very little.
The information in this session is not designed to discourage you from starting a business, it is to help you understand basics when it comes to starting a business and to avoid setting high expectations that will cause you to get discouraged from starting a business, and operating a business in early stages.
Individuals believe that starting an online business is cheaper and easier then to actually start a physical store, and they quickly run toward this grand idea and in short span of time the fantasy becomes a reality, the only problem with this reality is that it’s not what fantasy actually was.
Individuals who sell you courses and teach you how to develop a skill are sales individuals. They are charming, and their charm is half the battle of making a sale.
For example, let’s take 2 phone manufacturers. One is a large corporations with a huge budget for marketing and sales, that makes a mediocre phones, while another is a small business with a small capital for advertising and sales, however they built an amazing phone.
The large corporation will sell more phones then a small business, even though small businesses phone is better.
Remember you can have a poor quality product, but if your marketing and sales is on point, you will succeed, might be short lived, but still you’ll make some decent income, while another Company, who has a great product, but no money to let individuals know about their product, might in some cases just stay as this great idea.
There are two type of teachers that you’ll come across. There are the individuals who sell theory, and then there are individuals who actually sell, what they’ve actually accomplished. No matter what type of a business you run and operate every business is built on sales.
The individuals, who have achieved certain financial goals, such as earning a large sum of money, will upsell their sale, in order to convert a visitor into a customer.
They are not necessarily lying to you, that’s illegal, but they are also not painting a full picture for you either. A Company, could earn $100,000.00 in one month, but in order to make that revenue it could cost more then in actually earned to produce it, therefore reporting a loss. Keep this in mind.
What are you more inclined to buying? Someone who will show off a car of your dreams and tell you how you can have the same car in “theory”, keep that in mind “theory”, or someone who can teach you that in one year, you can build a solid foundation and leave the 9-5 job and the paycheck you are restricted to and be on your way to build a successful future?
Most individuals will run toward the guru who sells a theory. All though the theory is great, keep in mind it’s a theory and not a real thing.
These are just few reasons that I mention here as to why a lot of entrepreneurs end up discouraged from pursuing their dreams.
Best Way To Approach A Business.
Starting A Business is just slightly different, than starting a nine to five job. When you get hired, you get awarded a position at an XYZ Company. The Company than takes the time, money and energy to train you for that position. At first it all seems foreign right? You have in most cases absolutely no idea, how any of that you’re about to learn works.
Well same applies to starting a business. When you starting looking for a job you have set of basic skills and knowledge that made you decide on a type of a job you will begin searching for. When starting a business, same applies here, you have an idea, and you begin to pursue this idea. In order to successfully keep your 9-5 job, you need to learn and retain the information a Company is teaching you and you begin your work. In business you will learn how to build your Company, acquire a set of skills, and begin learning how to build your Business. Only difference is, unlike with getting a job, in starting your own business, there will be nobody to hold your hand in most cases, and you will be on your own. If you decide to go into a business partnership, don’t rely on your partner solely on the success of your business, if you do than why not just stick to a 9-5 job?
Building a successful business begins with knowledge. Proper knowledge and not theories and ideas. Once you obtain the knowledge you need to put it to work, and test it out to see what works and what does not work. No business is the same, as to the reason that no individual is the same.
Most important thing to doing anything is knowing what you’re doing and having the proper knowledge. Most courses are like traditional schools. Our of 10 things, you’ll actually learn 1, while other 9 parts are still missing and you are still stuck in a revolving circle.
A mountain bicycle is made out of a frame, wheels, chains, tires and many other parts that make up a complete bicycle. If you go into a store and purchase a bike frame are you going to be able to jump on the frame and go for a joy ride on your local bike trail?