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4 Online Business Realities New Entrepreneurs Need to Know Everything you've heard about having an Internet business is true, it's just that you probably haven't heard everything.

By Timothy Sykes

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.


More people than ever are considering starting their own online business as a way to make money and find the freedom and financial success they have always wanted. While running an online business definitely has its perks, not least the opportunity to net a solid income, there are a number of things that no one seems to talk about when it comes to running your own company.

1. The takeoff phase is never easy.

There are so many people who think that having the right idea is the main component of getting your business started. Unfortunately, this is not the case. While a great idea is important, there are a lot people with great ideas who never get their companies off the ground.

The right idea is about 1 percent of what is needed to make your business successful. The other 99 percent of the takeoff phase is working to implement the ideas that you have for your company. There will be plenty of challenges and setbacks getting your company off the ground. There will be times when no one is biting. You just need to realize that your good idea alone won't pull you through it all.

Related: 5 Reasons Why a Good Business Idea Is Never Enough to Succeed

2. Your schedule will be harder to maintain, not easier.

When I ask people the "why'' for starting their own business the most often response I get is they think it will free up their schedule. So many people mistakenly assume that being their own boss will make their schedule easier. This is not true.

You will have to work harder than you ever have before. You will have to take care of responsibilities that you never thought of. Your business will take up that precious free time. Chances are you will be spending a lot more late nights trying to get work done rather than mornings sleeping in.

3. You won't be the world's best boss.

When you run your own online business, chances are you will go into it thinking that being your own boss will be great. Unfortunately, most people aren't exactly the world's best boss at first, even if they are only running a one or two-man operation.

Being a boss, even your own boss, is hard. It takes a lot of work. You have to take responsibility for everything that goes wrong. There will be times when you wished you worked for someone else who would have to take responsibility for these actions. Running your own business means powering through those times.

Related: 10 Pitfalls of Being Your Own Boss

4. Running an online business requires always being online.

One of the great things about an online business is you can usually do business anywhere you have an Internet connection, but it is also a bit of a Catch-22. Running an online business means you always have to be online. There will always be people trying to contact you. You will find it nearly impossible to turn off the laptop, tablet and mobile phone to just enjoy life. The Internet will inevitably tie you down to your company, no matter where you go.

Keep these things in mind when you start your online business venture and you will handle the obstacles ahead like a pro. You are on your way to the success you have been looking for.

Related: Considering an Online Business? Read This First.

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

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