Only Morons Start a Business on a Loan
Making money online and running a business of your own is not easy. For every successful blog or online marketer you hear of there are another 1,000 entrepreneurs and businesses that have failed. Think of having a business like trying to become a celebrity or movie star. Some people will take the plunge and move out to California to increase their chances to accomplish their dreams, yet many of them will still fail. The difference is what some people will do to find success and reach their goal over others.
Many people will have different excuses for why they hate their jobs, but there are just as many excuses for why they aren’t starting a business of their own:
- – No connections or money
- – Uneducated in business
- – Success doesn’t run in the family
- – Didn’t attend college
The list goes on an all, but anyone who is successful in business most likely took the time to overcome these obstacles and that’s why they are an “entrepreneur” – there is nothing easy about running a business, nor is anything in life worth doing!
Which Path Do You Want to Take?
No matter if I’m writing on the blog or talking to people in everyday life, I always refer back to how low cost it is to start a business on the internet. You don’t need to worry about paying for rent for a retail location, there is no inventory for you to hold or staff to manage. Depending on your business and goals, the cost of entry can be as low as $100. This simply isn’t possible in the “real world” of brick and mortar business.
“Only Morons Start a Business on a Loan” – Mark Cuban
Mark Cuban also reflects on this topic in one of his interviews and he basically says, no matter the success or failure of your business, you are going to need to pay back your debts at the end of the day. With the economy in the dumps and so many retail businesses failing left and right, why the heck would you want to get a loan and already be in the negative for so much money and the odds are already heavily against you?
Other valuable notes from Mark Cuban in this video.
- – Â The bank doesn’t care about your business, or it’s success/failure.
- – Â 99% of businesses you can start with little to no effort and most people just aren’t willing to put in the time or dedication (and thinking smart).
- – Â To find success you need to know your industry and business better than anyone else.
- – Â If you are going to compete with your competition, you need to see them as YOUR direct competition.
Marc Cuban didn’t sell his company for a billion dollars because of luck. Marc didn’t become the owner of the Dallas Mavericks and a well known entrepreneur because of the success of his first business, it’s because he has the passion and desire to success and continue to build on his previous success.
It’s a new year and it’s time that you stopped sitting on the sidelines and thinking about how you can start a business and start working for yourself. The only way you are going to get anywhere is by taking action. Nothing is going to happen for you if you are just waiting around for it to happen.
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Absolutely right, there is no sense whatsoever in starting in the red. A business can be difficult enough to make a profit with, there is no reason to start with pushing the ball up the hill instead of letting it roll downhill gathering momentum.