Counter to all the messaging online about easy success in whatever it is you are looking at, the reality is it doesn’t exist.
Starting a business takes time, years, without exception. Every one I’ve created has taken years. Years of struggle. Years of learning. Years of figuring out what it is you don’t know, filling in those gaps, and building the business brick by brick.
One issue I see again and again is that people aren’t ready or properly resourced to go through this process, don’t have the overnight success they need, and then quit.
Just think of those restaurants you see in your neighborhoods that open, and then close a few months later. They didn’t have the financial resources to last long enough to build a business. They thought building a kitchen and renovating was the investment and everything would come together once the doors opened.
Real Estate Agents take over 6 months to sell their first house. To make a modest $60k a year you have to close a house a month. How long might it take to build a clientele to support even that?
When I was a DJ, I don’t think I had my first paid gig for a year, at least. And even 4 years in, I was performing to thousands of people and going home to my basement apartment when it was over.
2 years of that I was literally homeless, sleeping on the floor of my office.
When I started my webinar business, I had a primary income with my corporate speaking. It also gave me a lot of free time to develop the software while I was traveling. Later, when I was making more money, I quit all of that, but not before.
Nowadays I counsel people to prepare for this road ahead. If you go into it eyes wide open, you can plan for it.
I’m convinced when we hear of the horrible failure rates for new businesses this is a big reason why they don’t succeed. An expectation of overnight success and no planning for anything other than that.
How can you extend your “runway” from months to years?
