Tuesday, July 03, 2007

Making Ends Meet When Starting A Business
Copyright © Malcolm Tindle

Although owning your own business may be the "best thing I ever did," it has its drawbacks, especially in the early days. There are lots of very good 'Work From Home' business opportunities out there and you can see links to a lot of them at http://www.networldgateway.com/ although many people have unrealistic ideas about business ownership, thinking that it's going to provide them this six figure income right from the first day, especially those who buy into a franchise or established retail business. When they find out that they aren't earning the income they thought they would, they begin to worry that they have made a mistake in judgment and worry about making ends meet. Pre-planning solves a great deal of stress that is involved when building your business during its early creation.

The reason many new business owners have trouble making ends meet is because they fail to plan properly for the days that are going to yield less income. On average, it takes a new business anywhere from three to five years to turn a decent profit.

This fact is just as true with Internet Marketing since those early days will involve more income going into building your future, so you have to make sure that you plan for that. How can you plan for those early lean income days? One thing you can do in the very beginning is make sure that you save more money before you invest in a business so that you have enough cash set aside toward your living expenses until you start earning a profit from your business. If this is not possible and you are starting with nothing then you need to look very seriously at established programmes such as 'Plug In Profit Sites' like http://www.networldgateway.com/ and other MLM companies that offer guidance and training that you can join for nothing and build slowly.

Take advice from anywhere you can and join forums, also click on :-http://www.networldgateway.com/optin.html for a few freebies that I know you can use to grow your knowledge base and get hints and tips to get you going. If you are leaving a position with another company to start your own business then you need enough money to keep you going until your Internet Business starts to generate a healthy income. Most people do not have that luxury and work for a few years before even a part time income can be realised. Don’t be put off by that statement as Internet Marketing is a business like any other and needs time and hard work to pay dividends which are then all the more pleasing when you efforts start to pay off. I myself started with a Plug In Profit Site and you can see my current site and do the same by taking a look at http://www.networldgateway.com/ to get started.

One thing I would say is that you must enjoy what you are doing as you may have to stay fully committed and focused on developing your site for a while until your business is profitable enough to operate on its own and support you.

About the Author:
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Sim said...

Malcom provides a lot of useful information to the aspiring internet marketer. His information is well worth you taking the time to review. He gives you ideas on how to make ends meet when you are new to the business, reviews on affiliate marketing programs, and information to make you a better all around marketer. Sim Garner @ http://www.PassiveIncome4u.net/MyBlog

Lisa T. said...

Nice post. I want to run my own business soon, so I'll remember this one. I know it'll be challenging, so I can use all the help and advice I can get. I've been thinking about buying a business lately instead of starting one from scratch. Maybe a franchise? I don't know. Do you have any suggestions or advice? Thanks!