Creating A Business That Lasts

Starting a new business offers the expectation of great returns and generally there is a high element of risk involved. It’s not uncommon to hear that when we’re in our own business, every time we leap out of bed in the morning we’re out of work until we make our first sale! Sound familiar?

According to many reports, people who are self-employed make up about 25% of our population. Reliable statistics show that just about all of the very successful people we know of started out as being self-employed in their own business.

Of course there are many occasions where people are really forced to start their own small business. This can be as a result of things like becoming unemployed, made redundant or downsized, their employer’s business collapses, etc. These days these situations are commonplace, and unlikely to improve much in the short to medium term. There are particular industries where this is more widespread, such as motor vehicle, real estate and retail, to name just a few.

One of the results of this is the creation of new ventures by an emerging number of entrepreneurs. Of course there are risks involved, and most of us know the failure-rate of new businesses is very high in the first five years, up around the 30% to 40% mark according to reliable university research. So it’s always survival of the fittest in order to have a business that lasts.

However, despite the risk, according to a Master Card study done recently, the majority of small business owners advise their friends to start a business now, instead of delaying for 12 months. And according to an MSNBC report, small business ventures employ over 75% of the net new jobs in the economy. Of these small businesses, although they start out small, many of them grow very quickly. These new start-ups, many of which are home-based by the way, employ well over forty million in the USA alone, plus the millions of others in other countries, and are rapidly growing in numbers. Yahoo recently reported that a large group of small-business people indicated that the internet directly influenced the launch of their new venture in this current economy.

So it’s not important what your situation is, or when you make the decision to become an entrepreneur and start your own business, and you’re really passionate about achieving success with a business that lasts, if you’ve made your decision after doing due diligence, the risk-reward factor is well-balanced and favors you. The potential benefits are huge and are unlimited. Although there is the risk factor of about a fifty-fifty chance of failure, you can improve that by doing some very basic things and having a proven system to work within.

Creating a successful business, particularly one that is home based, requires self-discipline, so that when you come across obstacles, as you certainly will, being completely clear about your “why” for operating a business will greatly assist you in sticking with your decision and never quitting.

Successful businesses, particularly when you work from home, are based upon commitment and taking massive action. Never ever give-up, know exactly what you want, and just go for it. The rewards from operating a successful small business that lasts are priceless and enable people like you and your loved ones to live the type of lifestyle normally reserved for the ultra-rich.