Have you ever thought about opening your own business? Maybe at one time or another you considered purchasing a franchise or purchasing an established business. Well, let’s look at the steps required to purchase a business or a franchise. First, you are going to need money..a lot of it. The initial payment to purchase most franchises can be anywhere between $50,000 to millions of dollars. And that’s just for the business name and system.
Next, you will most likely need some real estate, such as a building, warehouse or storefront as a place to conduct your business. That’s another couple hundred thousand. Add on inventory, permits, licenses, insurance, advertising and don’t forget about employees and all that goes with that. You haven’t even made a dollar yet and your in mega debt! Additionally, if you purchased a franchise, they are going to want a percentage of your profits as part of the deal.
I didn’t lay that out there to frighten you, but to make you think. Do you think that someone who just went into mega debt to start a business is going to work as hard as they can to get things started quickly so that they can begin to create some income. You bet! It’s going to be some time before they will break even.
The price of entry to get into a traditional business is very high and it takes a special individual to take on such an endeavor. This individual has a positive entrepreneurial spirit. A mindset that will enable them to ride the highs and lows of their journey as they reach for their goal of owning a successful business.
Now, let’s look at the steps required to start an online business. First, you need a product or service that either you create or that you have access to. Next, you’ll basically need a computer, register a domain name, establish website hosting, an autoresponder service, and some tools to get traffic to your website. You can get all of these things very affordably making your initial investment quite inexpensive.
Do you think that someone who is starting an online business is going to work as hard as they can to get things started quickly so that they can create some income? Well, hopefully they will. But the price of entry into an online business is very low. It’s almost so low that one might say to their self “I really want this to work, but if it doesn’t, thats alright because I didn’t invest that much money to get started and I don’t have much to lose”. The mindset can be as different as the price of entry.
Now imagine that the online business owner had the mindset of the traditional business owner. Do you think that this could make a difference? Do you think that they would be successful? Maybe instead of looking for the latest and greatest product or system that will send us on the road to riches, we should first work on our mindset and unleash our entrepreneurial spirit.
Let’s make sure that we are dedicated to learning what we need to know and doing what needs to be done in order for our business to make an impact and for our business to be successful. After all, if we had millions of dollars on the line in order to get started on our business, we would have all of the motivation that we need.