Let’s talk about time.
I’ve wanted to write this article for a while now as I really need to get my thoughts on this topic out in public and hopefully help some new entrepreneurs on their journeys in creating an online business.
Time is a CRUCIAL element that everyone needs to understand before they even start thinking about creating an eBay, Amazon or eCommerce business. I don’t know whether it’s just a part of every entrepreneur’s mindset (probably) but most people are impatient (including me) and that alone is a big, big problem. Let me explain.
Let’s take an average person (let’s call him Joe) who has a full time job, savings of £3k-£5k and the desire to start their own online business. They do lots of research (for months, even years) before they are ready to dig into the process. They read all kinds of materials online, watch YouTube videos etc., where people say how they went from an employee to a business owner and how happy they are to be their own boss etc.
That’s all good! If anything, this gives a lot of motivation and confidence for that average person to start their business. But the problem is that usually these stories do not disclose the TIME it took for them to achieve that level of success. And in most cases you’ll be surprised how long it actually took them to transition from a full time job to being a business owner.
So here’s what happens – Joe has finally decided to take the plunge and change his life! He QUITS his job as he figures out that he can live on his savings for a few months and by that time his business should generate enough money to support him.
What a wise move, don’t you agree?
Now that Joe doesn’t have to go to work every day he will be able to put 100% effort into his business and that alone should be enough to make it work, right? As we all know that if you work hard and really, really want something – you’ll achieve it, right?
Unfortunately Joe forgot about a CRUCIAL part of the puzzle – Time.
You don’t go from zero to a full time income in a few months’ time by simply investing a few thousand pounds in stock – that’s not the way it works I’m afraid.
Yes, there are ways to do this in affiliate marketing, freelancing and similar types of businesses but NOT with selling physical products on eBay, Amazon or your own online shop. Obviously I’m generalising here as there can be a 1 out of 1000 success story where you come up with a genius product, somehow protect the IP and become rich. Yes, there will always be exceptions but I’m talking about general scenarios here. [Read more…]