Why most businesses fail

hilary duff makes money onlineI’m a business man. I’ve always been this way. I remember when i was a little kid, i would buy and sell baseball and basketball cards. I even dabbled with comic books. I would subscribe to becket to see the rise of my stock-like trading cards. When i was in 6th grade, i started my first business. It wasn’t a biggie, but i got one of cousins to go 50-50 with me on a baseball card business. I sold my most valuable basketball card (Michael Jordan second year card) and started renting booths at card conventions. It was pretty sweet for a while. I got to taste the life of a businessman. Or i prefer the hip hop term, I’m a hustler baby!

During college, my goal was to set up my own business. I had no doubt in my mind about that. I didn’t want to work for some fortune 500 company. I didn’t want to slowly climb the corporate ladder. I wanted my own money with my own set of rules. I wanted the freedom and control.

Starting a business is not that glamorous. It’s actually pretty boring. You have to do a lot of the boring stuff. Gotta make sure suppliers and venders are happy. You gotta make sure that your books are straights. You have to prepare, file, and pay taxes. I think a lot of people fail at business because they don’t understand it. Most businesses require some sort of sale. You have to be able to close the deal. You have to be a salesman.

What do sales people do? They close. ABC right? Always be closing. This is so true. You have to be a huckster. If you can’t hang with it, you have to settle for a 9-5 office job. Business is not for everyone. Same thing with internet ventures. You have to sell your site. You have to sell the ad space on your site. Sell Sell Sell. I think people who are just starting out, don’t understand this concept. They think that it comes naturally. They assume that customers magically appear. This rarely (if ever) happens. You have to continue marketing and selling. If you get good at it, you can make a lot of money online.

2 thoughts on “Why most businesses fail

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