Have you had a home based business fail?
Have you been involved with a home based business that failed?
If so, why do you think that it failed?
What could you have done differently to help it succeed?
I had an internet home business fail du to a lack of experience. A lesson I learned very quickly.
Yes, I think it failed because I could not affored to put the money it take to get in going and actually make money doing it. I could have continued to put money ito it with now money coming back.
I started my own internet based buisness when I was 18 years old. I know exactly where my first problem was. Lack of knowledge. In public schools they really don't teach the students how to run their own buisness. I had no idea what I was getting into. I though the people that suggested it to me would of been more help getting on my feet but unfortunitly I failed. I know have the knowlege but I am lacking the capital to get started again.
Tom
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I started a repair business about 10 years ago with a friend of mine that while it made fair money, it never quite took off the ground.
I think the failure was probably due to neither of us being entirely committed to its success (both had back-up plans).
What we could've done differently is probably see through the lean times (the recessions always were temporary) with savings and use the profits from the good times to continue the success of the operation.
In the end, I don't think we committed 100% to it -- if it failed, it wasn't the end of the world. So it did.
CB
I read the article on why home businesses might fail and enjoyed the range of comments and the insight. I think there are many reasons some fail and some succeed but until we see both sides of the coin there may not be a lesson learned.
i think the words not being entirely committed make all the sense in the world. people think it's easier to work from home but i actually think that you need a strong plan, deep commitment, and the motivation for strong follow through. it's actually more energy to keep all the balls in the air so you have to really want it and stick with the goal oriented plan.
I had my own cleaning company, and got board working on my own for 3 years. So went back to college to learn about computers.
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Yes, I tried to turn my hobby, jewelry, into a business. It failed because I did not market my product well enough nor did I look into the market to see if there was a need.
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You've got to think of all the possibilities not just the one you hope for!
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My eBay business was going great, but I became suddenly ill and coudln't keep up with my orders. I got smacked by eBay and now I'm banned.
If you have a viable online business, try to have backup help. This wasn't possible in my case, but I have learned my lesson.
