Steve Wagenheim’s Home Business Blog Everything You’ll Need To Run A Successful Home Business
  • Jan
    15

    Home Business Tips – Learn to Fish Or Buy it Already Cooked?

    Avenue Girl, over at the Warrior Forum, asked a very good question the other day. She asked new people if they would rather learn how to build a business on their own or would they rather be able to buy a business in a box that was all set for them to make money with. The answers actually surprised me. Anyway, I’m going to share a shocking confession and then dive a little deeper into the pros and cons of each method. I think you will find this quite interesting.

    First of all, let’s start out with the shocking confession. Even though I learned everything from the ground floor up, and suffered a long time before making it, if I could start all over again, I’d find myself an established business that was for sale and buy it. I would then hire people to run it and go off and live in my recording studio cranking out hit tunes. But why?

    Well, the answer is simple. If the end goal is to provide for my family, and I can do this without the learning curve and without all the suffering, why not take the easy route? There is no shame in admitting that you prefer not to have to kill yourself to make a living. So if you can find something that you can just slap your name on and be done with it…why not take the opportunity? The end result, either way, is the same…You make money.

    Okay, so what are the pros and cons of each method? Well, by learning it all on your own and having to go through the growing pains of figuring out what works and what doesn’t, IF you reach the point where you HAVE made it…you will actually KNOW what you are doing. And that is VERY important when running a business, because things happen that, if you are not prepared to handle, can bury you. On the downside, doing it all by yourself, there is always a greater chance of failure simply because not everybody can learn how to run a business.

    Now, if you take the business in a box route, especially if it’s an existing business that has proven to generate money, you don’t have to worry so much about failure. There is no learning curve. You just run it. Now, what if you have NO business smarts? Well, that becomes a problem if something unforeseen happens such as a new government regulation. If you don’t know how to make the changes you need to make, you’re sunk. Sure, you can hire people to run your business. But what if you can’t afford to at the beginning? Remember, buying an existing business takes money and that sometimes doesn’t leave a lot for administration.

    So as you can see, there are pros and cons to each. There is no perfect world no matter what you decide to do. Ultimately, it comes down to what YOU are more comfortable with.

    To YOUR Success,

    Steven Wagenheim

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