It is often too easy to get carried away by the excitement of an online business ideas. But true fact is, it will probably takes years to build a successful one. Almost most of the enterprenuers find this one of their main hurdle to overcome on startup.
My first proposal was rejected immediately after it was presented to a VC back in year 2002. In the past, we never stop looking for investor. Ask yourself, if you are given USD100,000 the same time as when Google’s founder received their first fund- are you able to come out with another Google?
Securing a funding has nothing to do in getting your business model and system right. I see those Restaurants near my office open-close and changed hand every 6-12 months. I will not agree if this is because of not enough renovation or marketing budget. Surprisingly, I found heavy-renovated shops closed faster than those without.
How to start an online business without funding? You might already have a company which is offering some services, or working full time and earning a salary, or working on a part-time project or freelance job… If you’re struggling every month to make ends meet, read this:
1. It is easier to save cost than increasing the revenue.
2. Reduce number of revenue sources and keep those without noise.
3. It’s never impossible to turn active income to passive.
I have a story to share:
You are looking for water in a desert. Suddenly, there are two people coming to you. One of them is giving you a glass of water, while another one is telling you the way to find the river which is far far far away from here. You drink the water and start setting your way to find the river. Just when you start feeling thirsty again, one of them appear in front of you and offer you another glass of water. This happen again and again, and at last…
You decided to stop searching for the river. Instead, you start to plan of how to ask for a Coke than water.
What if that person never appear again with water? I suppose the river can offer unlimited water but why it doesn’t sound attractive again? This is the dangerous part when you have set a long term goal but is too carried away by the short term benefit which shouldn’t be seen as revenue.