Obstacles to Starting My Online Business - MONEY

What is that stops many of

           us from opening our own online Business?

ARTICLE 3 OF 3

   How many working people wouldn't want a better life? Maybe they desire time freedom or to do something they can be passionate about. Others want to prosper and change their life completely. It is true that this article can apply to a wide audience but a particular focus is given to those who have dreams that burn within the inside of them while they work, slave, and toil for a boss who seems to be doing very well in life. They, however, are struggling to pay the basic bills like utilities, insurance, rent or mortgage while trying to put food on the table. Often, many of those will work excessive hours and even work at another job to try and make ends meet. Frustrated, irritated, and feeling depressed by this reality, the mind tends to wander and think " If only I had _______ amount of money (fill in that blank), then I could open my own company", or "invest in those good stocks I learned about", or "would finally have enough money to flip houses in Real Estate". It could be any number of other dreams as well; these were just some samples. Often overlooked though is starting an online business, specifically in affiliate marketing. This is not the same as creating a website and selling things you make or services you offer offline in the local community, like painting or cleaning, etc. Think of this as connecting existing businesses to consumers who would be interested in their products. The online marketplace levels the playing field and fosters an environment where a novice can rise from the ranks and become a wealthy and successful businessman. Never before in the history of the world has the path of wealth and independence been open to so many, but wait too long and who knows, it could be a door that eventually closes except for those who have jumped aboard now. 

• LIMITS OF THE SMALL BUSINESS

   Many entrepreneurs look to the idea of building a company within their community. While the internet can help the effort, it is still based off of providing a product or service in their community. For sure, one can find small business success stories but let's be honest, it is not practical for a wider audience. Can every aspiring businessman have the best ice cream shop, the best pizza joint, or the best jewelry store in town? How many professional dog groomers can a town have, or how many real estate agents, or how many mobile mechanics and pool cleaners can a town have? The problem with this model is that it is still limited in the number of spots and often is not very scalable. It is subject to market saturation. Typically the small business is limited to what is within driving distance or involves having to establish additional retail locations further away to grow their business. With some small businesses, they may even have great success with selling some products they have created online, however, that will not be the case for every company or businessman. Another thought is that somebody has to be number one. How many competing companies within a community do not have this kind of company and are forced to live in the shadows of their larger competitor? By virtue of its limitations, the local community business model cannot serve a wider audience. Some may think, "What about a niche market that no one is currently addressing?" Those areas have challenges too and only so many niche markets exist within a community.

• RAISING MONEY

   A unique market example I can think of is Florida where I live. There are many islands in the waters that wealthier folks like to buy but they do not have a bridge that connects them to the mainland so they need a boat. This particular entrepreneur found a completely unserviced area. When a boat owner has a vessel with a broken down motor at sea or at the dock, the overwhelming majority cannot perform their own repairs so they need to have it towed to a local shop at a marina for repairs. He created a fleet of his own boats and through forged partnerships with other skilled professionals, his business enables their customers to often avoid the only option of the typical pricey sea tow and inflated pricing for repairs at a local marina shop. He goes to where they are instead and fixes the motors. He still has to have the more expensive boats that can perform a sea tow because sometimes the boat that is dead in the water cannot be repaired where it is at and has to be towed to his smaller marina shop but in those cases, he will discount the tow if he gets to perform the repairs, and his pricing is better than or competitive with other repair shops. This person happened to be fortunate enough to already own some of the assets he needed, but even with that benefit, he had still had to take out large loans to get started. He had the credit which allowed him to do that.

   If he did not have good credit or other money behind him, does that mean that this entrepreneur's dream should have died? That answer is 'NO'. When someone possesses the grit, determination, and the drive to work to make a dream of wealth and independence come true, they should not be disallowed because they don't have sufficient start-up capital on hand. For an entrepreneur to raise money for a business venture, their options include choices like loans, such as mentioned above, an inheritance, family members lending money, government grants, a great paying job that allows for self-funding, or funds from private investors. In my own personal case, none of the above were available to me, and this is the case for so many who have dreams and the drive to make them come true.    

•  VIABLE OPTIONS 

   Looking at my own scenario, many obstacles stood in front of me. A divorce that I did not want had ruined my credit and deeply affected me. I had a job that only covered my bills and my family members were no better off financially than I was to help me. Government programs to help an entrepreneur could not be used and apparently, I couldn't sell a free glass of water to a dying, thirsty person in a desert; so convincing private investors to help did not work for me either. With investors, the big factor for them is the risk to their money and lack of liquid assets that could be sold if needed to cover the loss. A 'dream' is a huge investment risk to them. I wanted to do something to better my life so I did not sit idly by. I tried working hard but that only led to employers taking advantage of me for their good. I tried learning skills that would make me a more valuable employee and that led to my being straddled with more responsibility and no increase in pay. Working 2nd and 3rd jobs started bringing in money which worked great until that stress to my body ended up getting me sick. That meant using the saved money to cover expenses while I was down. Due to some good circumstances, I was eligible for student loans and so I earned my Bachelor's Degree in Business. After I graduated, it was profoundly disturbing to see the utter lack of response to my professionally done resumes. I stopped sending resumes after 6 months of trying and left them posted on job boards. It was time to do something else. I have personally seen some of the options listed here work for others because of their personal situation in life, but what happens when none are available to someone who wants to do better, like in my case?                                              

• THE INTERNET

   I did think and realize that many options were not available to me, but that was not the case with the internet. I would question "What are the obstacles to starting my online business?" I recalled learning in college how the internet is the single biggest market interruption ever in the history of the business marketplace. It levels the playing field for entrepreneurs and is responsible for being the single largest creator of new millionaires. Seeing so many roadblocks though, if a person has not already given up on the idea of pursuing their dream of doing better, they will try to find an affordable business alternative online. With limited income, starting from scratch offline or online is not a viable option. Those options being financially out of reach, a careful search has to then be conducted for a good company online to join forces with. It does exist, but the internet can be a dark place and can feel like having to swim through shark infested waters to get to the safety of land. The internet is abounding with individuals or companies who all have offers join them and start earning money online. It is easy to fall into the trap of being seduced by unrealistic promises, joining with bad companies, or allowing hype and glitz to trigger an emotional purchase that ends up being a mistake. The bad and scammy pitches far outnumber the legitimate offers. What does one even begin to look for? Let's look at some qualifiers:

• Are they a reputable company? Have they been in trouble with social media platforms who banned their sites? The information can be a little difficult to find but is useful. Can they actually be contacted if you want questions answered before a purchase? Avoid companies who continually offer unrealistic promises with their product or who are trying to pitch the nontypical results as commonplace when those earnings would be tragically difficult to achieve. Check on their physical address, website certifications, and their privacy policies about your personal information. Beware of those who sell your email address and other information off to 3rd party companies which you have nothing to do with. These things have to be considered. Also unwise would be partnering with a company who frequently has changed their website address as it is usually a sign of trying to dodge trouble with compliance issues. 
• Look at reviews. When using a review, be careful to sort fact from complaining whiners. Many bad reviews come from people who are being unintelligent or lazy or both. I can understand those who unfortunately were victimized by bad companies online because it has happened to me too. Doing my homework would have prevented that. For too many though, they have unrealistic expectations of an online business and think that they will be getting a fast push button business and they are bitter when it does not happen that way. If it was that easy, everyone would be doing it. A legitimate online company will take work, time, and money to be spent in order to be a success. Amazing sales days or months can and do happen but are not the norm. They also occur after the hard work of setting up the business has been accomplished. Reviews can give insight into the integrity, the level of customer service and support, and the trustworthiness of the company, as well as the quality of their product offerings. Also, do searches to find out how they are handling complaints or concerns from legitimate customers.  
• The product. Is it just another multi-level marketing (or MLM) company? Can the entrepreneur earn a profit even if those they brought in don't perform well? Is bringing high numbers of clients who then perform well the only way to generate earnings? That is very limiting. The company being looked into should have a product or product line that can grow and improve, and the more quality offerings they can present, the better. Additional ways to earn income makes that kind of company a better choice. Try to see what their mission statement is and what their future goals are. Why on Earth would one want to partner with a company that foreseeably will hit a growth wall and will likely close down their site unannounced when they can't ride that pony anymore? That leaves those who put money into it with their butts hanging out in the air?.
• Earnings. Look at how the company pays. Many will have brought in new customers who also want to earn money online. However, let's say that the next person brought in is a really special marketer and generates tens of thousands of dollars of revenue for that company. ( an MLM is not being referred to here). For making the company that much money though, what is the thanks? The entrepreneur only sees the original payment of $20.00 or whatever that amount is, for bringing that incredible marketer aboard. He then has to basically hurry up and keep repeating the process of signing up new people to earn more of a severely limited income. It is difficult to find new customers who will also then want to join in. The company should be willing to share and reward the person who brought that superstar aboard. If not, they are generally not going to be worth the time and effort of partnering with. In essence, you are just an employee of that company. That makes no sense and will probably be no better than the current job that the entrepreneur wants to quit.  
• Your hard work. If for some reason, such as doing really well in future, is the entrepreneur able to take his email list of customers, a website they have built, and their company name with them? Companies who jealously guard against the success of their members will basically say "Sorry, sucks to be you - bye." Your relationship is over and now everything that was built has to be started all over again from the beginning, somewhere else. That is a big negative. 
• The platform.  To be an A+ company,  partnering should only be done if they are willing to provide the needed infrastructure software and tech support when needed. They also need to be willing to re-invest and improve their company. Software and programs are subject to needing constantly upgraded or replaced if needed. If not, eventually that company will become stagnant and outdated; and no longer able to grow and viably compete in the online marketplace.
• Culture. Review the Mission Statement again and if possible, examine the culture that is being nourished within the company. A company whose sole purpose is the generating of profit only is a lousy and empty place to be. Good companies will not only generate income, they will help their members become wealthy as well. Along the way, the company should be enriching the personal lives of their members and have a community where members can interact with each other and build each other up. It goes without saying that the company should also have mentoring available in at least three formats: a current video training library, recorded and live webinars, and optional paid for, one on one training or live training events that members can attend.
• The money hurdle. Most companies will have levels of memberships varying in costs. Each level provides a limited amount of benefits while the topmost tiers are usually the unlimited access. Companies who have no care to help those with lower income levels income should largely be avoided. If a person making $10/hour wants to change their life but the lowest cost of membership is $10,000, not only is this unfair but it often is revealing that the company is more interested in profit than people. A $400 - $500 annual membership could be considered reasonable for a good company. It will mean that the entrepreneur should be willing to change their mindset even more and work hard an extra job temporarily to get the money or find it some other way such as selling some assets off to create the needed funds. For a company with the potential to change one's life forever, a reasonably priced entry into the company is worth some temporary discomfort.
• Ongoing costs. It needs to be remembered that a real business is being built and it will have expenses. In addition to member fees, expect that the company being partnered with needs to remain profitable so yes, there will often be fees (usually at a discount) for different needed tools, such as website hosting, email list managing tools, social media management tools, or other similar tools. A good company also has ways for entrepreneurs to earn while they are learning. The expenses for an online company are usually far lower than the costs of a comparable sized offline physical business, but they still need to be accounted for in one's planning.

   The internet has achieved the wonderful effect of lowering the costs of starting down the path to financial success and business ownership. It comes with responsibility though. Building a successful online business is still one of the most practical solutions for bettering one's life and with the correct knowledge, it is easier to select a good company to partner with, but it doesn't end there. Two other blogs have been written in this series with one addressing the proper mindset that an entrepreneur needs to have in order to be successful (Attitude). The second article in this series talks about fears that often crop up after making the decision to start an online company. If allowed, those fears would dissuade us from making that decision and changing the trajectory of our life for the better (Fear). Finally, the internet has brought the money needed into proper perspective. No longer do start-up costs have to be a factor in barring an entrepreneur of average means from starting down the road to financial prosperity. It is an incredible day indeed. The online business model has so many advantages over the traditional brick and mortar business in the local community, and with fewer risks. The choice to partner with a good online company is still one of the biggest influences on the success of an online business that an entrepreneur is opening.

   When deciding on a company to partner with, consider their commitment to customer satisfaction, the privacy of your personal information, and their general behavior online. The products and online platform they have are also important considerations. What about what they are providing for your hard earned money? Is it package that is a win-win for the entrepreneur and the company or is all one-sided in their favor? Take a look at how revenue will be earned with the company and check to see if it is an undesirable MLM structure where your success lies largely on the levels achievement of others instead of building off of your hard work? The last thing wanted is to essentially be an 'employee' instead of making good revenue. The future goals and mission statement of this company need to indicate that they want to be around long-term and not one that would unexpectedly close up shop one day with no notice. The fostering of a good corporate culture that lifts up their members and provides the training needed along with support and tech help, is crucial as well. A good corporate culture would also mean that once one is doing well for themself, they should be a company who would not punish the businessman if for some reason they decide to leave in the future. Your company name, website, and customer list should not have to be permanently encumbered by a forced continual relationship with that company if you want to move on to other things.

     When at the starting line with the company of your choice, the joining, and acceptance of your request to join should be affordable but do remember that any business you own has expenses and will take reinvesting funds to properly grow and get to a higher level of earnings. The partner company has to earn a profit too so be prepared for membership costs and other ongoing expenses. That is normal in business, not a grab at a person's hard-earned money. It is totally worth the expense when after the hard work, the online business takes off and allows the quitting of the deadbeat job offline and takes your income to previously never seen levels of income. Good companies are on the internet but beware of those that are not and choose wisely. Much success in your journey entrepreneur. 

                     Thank you - President and Owner - DORR TOTTEN 

P.S. - there are other companies but I believe wholeheartedly that my partner company is among the top ten best. Co-creators Stuart Ross and Jay Kubassek of the SFM have that kind of company. Do your own research if you like but then hit the link here and see how SFM differs from others. The free information will help answer questions you may have:  Obstacles To Starting My Online Business 

 If you would personally reach out to me, please send an email to me at mygravitydreams@gmail.com