These Statistics Must Change

If you are a small business owner I am sure you have all heard the painful statistics that:
97% of network marketers and small business owners fail
Over 50% fail within the first 5 years
90% make less than $10 a week from their business

Given these terrible figures, it would only make sense for most of us to avoid new business ventures like the plague. Many aspiring entrepreneurs lack the characteristics and background they need to survive.  They display several common traits that predispose them to failure, such as being too passive and casual, failing to develop an action plan or seek professional advice, and lack sufficient managerial experience.  Also many small business owners only have time to work on their business on a part-time basis.  Managing time, energy, finances along with all of life's other responsibilities and unpredictabilities becomes arduous.  That being said, things will only change if more business-minded individuals take action, and do so wisely despite adversity. 

It's not that people aren't smart and fully capable, but many who sign up to various business opportunities do so on an emotional high.  They don't really think things through. Too many seek magic bullets that will somehow make them wealthy overnight.  This is a very ludicrous and unhealthy way of thinking.  Aside from winning the lottery or getting an inheritance, virtually all of us have to work extremely hard for any kind of success.  The planning, execution, and mindset that are required for long lasting results is no easy feat, but very attainable. 
 
Make sure you address the following issues before making any big decisions you may later regret:

Study your target market.  Know what their specific needs are and how to fulfill them.  Devise the best strategy to market your product, service, or business opportunity.  Are you going to market your own product/service or someone else's?  What will your web marketing strategy be? Starting a business in this day and age without one is absolutely pointless.  You can only make money if people are viewing your web site so how will you get them there and keep them coming back?  How will you follow-up with them?  Any business transaction can only be completed through communication and closing deals is the most important thing.  How will you do it?

The following questions are more general, but are at the very heart of whether you will succeed or fail. I strongly advise everybody to answer each one honestly and I am positive statistics will change.

1) Why do you want to be in business for yourself?
2) What will you need to do to be successful?
3) How much time and energy can you consecrate to building your company?
4) How much sacrifice are you prepared to make (personally, financially)?
5) How much risk can you afford to take (personally, financially)?

 Any business should be approached realistically.  If more dreamers were willing to do everything it takes, even if results don't come quickly (which is almost always the case) we would have many more success stories. Avoid ''get rich quick'' scams and hype at all cost! They never work.  Keep your eye on the prize, work hard, work consistently, and work smart. You can be successful. Just brace yourself and know how deep the water is before jumping in. Victory to all levelheaded leaders!