LRS 088: The Obstacles Standing in The Way of Being Self-Employed 53

The Obstacles Standing in The Way of Being Self-Employed, And Why It’s All Worth It - the let's reach success podcast

Today on the Let’s Reach Success podcast I wanna talk about the not so good looking side of entrepreneurship.

There’s the freedom, the satisfaction that working for yourself brings. The chance to work as much as you want and choose your own projects. The countless opportunities to grow together with the business, and also use it as a means to contribute beyond yourself.

But there’s also the mental struggle, the hopelessness, the stress, the 24/7 hustle. The huge number of mistakes necessary to be made before you find what works. And there’s even the need for being broke for some time and living with the bare minimum, so you can get the business off the ground.

Knowing these and talking about them openly is crucial.

Are you ready to become self-employed?

Consider this episode of the podcast a test.

If you want to be self-employed some time from now, or are thinking of giving up after having failed with your first online business ideas, listen to what I’m about to say in the next 15-20 minutes, and let it sink it.

If it makes you feel uncomfortable and you’re better off having a regular job and living an average life, so be it.

But if you are ready to accept the pain of discipline and all the other side effects of becoming an entrepreneur, then you can go for it and be confident that you’ll succeed.

I believe it’s all worth it, it’s all for a good cause, and that hard work is the price for anything.

But with billions of people on this planet, I admit that online business might not be worth the sacrifices for some.

If the stress, time invested, sweat and tears, and the changes in your lifestyle you need to make in order to work for yourself and be location independent, outweigh the benefits, then, don’t feel bad about not trying.

Want to see what freedom and lifestyle design look like?

Then this is the price you need to pay before you see success with your business endeavors.

Show Notes:

  • It’s a lonely road, but here’s why that’s okay [2:26]
  • Some things you’ll experience at any point in your entrepreneurial journey [5:23]
  • Discussing the time business actually takes [7:49]
  • How we can handle all the unpleasant aspects of this [8:56]
  • Guys who struggled in the beginning [10:23]
  • The billionaires who started from nothing [14:39]

Mentioned:

Listen to the LRS Podcast on YouTube:

 

Listening options:

• Subscribe to the show on iTunes to get automatic updates.
• Listen on Stitcher Radio.
• Subscribe on your Android device.
• RSS feed

Thanks for listening.

Glad you joined me on the podcast today. If you want to hear a particular topic on it, leave a comment below and I’ll make sure I cover it in the future.
Also, if you enjoyed it, please share it using the social media buttons you see on the left.

And finally, please leave an honest review for The LRS Podcast on iTunes. You’ll help a lot with the rankings for the show and I’ll appreciate it.

Get The Lifestyle Designer's Digest
Directly into your inbox every Monday.
Previous ArticleNext Article

Should You Buy an Ecommerce Business? 10

Should You Buy an Ecommerce Business?

If you have the funds to make an investment, but you are not sure which is the best option, a good idea would be investing in an ecommerce business. They represent the businesses of the future, and it is already a known fact that they are very profitable.

With an online business you can choose to build it yourself, but that is not what we are recommending. In our opinion, buying an ecommerce business comes with more advantages and in this article we will talk about some of them.

You won’t have to deal with the tough work.

The first days are the hardest when you decide to start a business by yourself.

First of all, you have to decide exactly what kind of products you want to sell and then find the suppliers for them. You need to create a quality customer service, come up with marketing strategies, develop the site, SEO, and many other things.

But when you buy an online business you won’t have to deal with any of these. A business that has been around for a while already has all these things and this means that you won’t have to deal with them. However, you should make sure that you do a little bit the research before you buy the site. You need to make sure that everything matches your requirements.

Successful business model.

Quitting While You're Ahead! Understanding the Limits of Natural Business Growth

When you are just getting started it is hard to tell whether your business will make it or not.

In some cases, it might even be complicated to come up with a strategy that will sell your products. Nevertheless, this problem does not occur when you are buying an online business.

In this situation, you already know that the business existed for a few years, which means that it generates enough revenue. It also means that the traffic and customers are established already so there is almost no risk.

However, before you buy a website you will need to make sure that the financials are accurate.

You can choose to buy a business from an online marketplace such as Exchange by Shopify. This way, data such as traffic and financial reports will be delivered by the platform, not the seller, so you will know for sure that they are 100% real.

Cross-sell potential.

If you already own an ecommerce business it might be a good move to buy another one. By getting another one you will gain access to additional customers, email addresses and traffic, which could be really helpful for you.

If you analyze the metrics of the business a bit you will be able to tell how to cross-sell existing products. Tools like shopping cart data and Google Analytics should help you determine customer behavior, including the returning rate and how many items per order are there.

Cross promotion between email lists could be a great marketing tool if it is used correctly, and even using “competitive” discount could be a way to make customers move between the two businesses.