Thomas Edison didn't invent the light bulb on one try! It took several attempts at a successful product. He had investment into achieving his goal of light. A financially successful business is not different. It will not be one attempt and BAM you are a millionaire. Don't go into a business thinking that you will not have to put any money into it…because any successful business requires some sort of investment and overhead.
If you want a financially successful business you are going to have to be just like Thomas Edison, other inventors, as well as every self entrepreneur. Trial and error until you finally find what lights up your business. A constant attempt at making your ownership a success will be how you achieve great achievement and become an elite entrepreneur!
When considering how to grow a financially successful business there are several considerations that should be evaluated to determine if you can still gain an income after your debts each month:
- Start up investment
- Overhead each month: rent, electricity, phone bill, etc
- Equipment considerations: phone, computer, etc
Factor in the above and determine you goal for which you need to make each month to own a financially successful business. Every self entrepreneurship has startup investment, overhead, and equipment and that's OK! If it wasn't for the above everybody would do it! All of the above are debts in your bank account but what is more important is how much money can you gain in the end? At the end of the month will you be on the positive end?
One of the things that I consider and want to share with you: Is there going to be a return on my investment? Am I just throwing my monthly overhead out the window each month or do I get something in return? Finding that one business where you get a fast return on investment may be difficult but not out of reach! Finding that one investment where your overhead each month is minimal can be difficult but not out of reach.
A home based business where you have no rent and very little overhead each month is a great consideration for a financially successful business. It will take time for you to grow your business. As I speak from experience of owning 5 different businesses the average time for them to be a true business where I was actually making money was 3 years. Depending on how hard you work and your investment into the company it can take anywhere between 2 to 5 years to see that success.
Every financially successful business in the beginning has hard times. But with passion, dedication, and commitment there will be light at the end of the tunnel. Finding the right business and business partner is the luminosity of your success.