How Many Run a Real Business here?

by trader909 Banned
23 replies
Hi,

Browsing the forum I see many headless chickens jumping from one business to another. Jumping into "niches" they have no knowledge of and/or running many niche business at the same time. That does seem to fit into the business module of most here.

So how would you define a real business instead of making some money on the side? To try and help some of these lost souls?

Maybe I am wrong but here are some of my tips.

Real business more than like;ly have employees. 1 man business..you are a sole trader. not set in stone, technically you could have a one person business i guess.

Proper legal set up. LLC or other. Bank accounts, tax accounts, credit lines etc.

A proper business requires 100% effort. You can't be running several real business at one time I.M.H.O.

I am not going to say real businesses have offices, profits or are not relying on G. rankings etc. That doesn't fit my definition.

Can you add?

Thx
#business #real #run
  • Profile picture of the author RestlessBlaze
    I do not run a real business. I think real business is when you can go out on holiday for 15 days and while you are away, your business still generate profit. Thats real business. No, i do not own it. But i want to.
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    • Profile picture of the author awesummer
      Originally Posted by RestlessBlaze View Post

      I do not run a real business. I think real business is when you can go out on holiday for 15 days and while you are away, your business still generate profit. Thats real business. No, i do not own it. But i want to.
      If this is the definition of Real business then I don't own one. Because I have this small time, not really real business. I don't have employees because it's just an online shopping site.
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    • Profile picture of the author Justin Says
      Originally Posted by RestlessBlaze View Post

      I do not run a real business. I think real business is when you can go out on holiday for 15 days and while you are away, your business still generate profit. Thats real business. No, i do not own it. But i want to.
      And that's where you have the wrong mindset.

      I know of plenty of people who run REAL businesses and yet they barely take vacations, time off.. they enjoy it so much that the business itself is a vacation.

      Consider the fact that one of my own businesses, I play video games.. that's it. I make partnerships, deals while playing video games, and enjoy the hell out of it.

      Enjoy what you do, do well at it, and build your business
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    • Profile picture of the author Simon Farmer
      Originally Posted by RestlessBlaze View Post

      I do not run a real business. I think real business is when you can go out on holiday for 15 days and while you are away, your business still generate profit. Thats real business. No, i do not own it. But i want to.
      Well I took two weeks off in January when my son was born and still had money coming in.

      Then took another two weeks to visit the family and still had money coming in.

      Looks like I've got myself a real business
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    • Profile picture of the author svetod
      Originally Posted by RestlessBlaze View Post

      I do not run a real business. I think real business is when you can go out on holiday for 15 days and while you are away, your business still generate profit. Thats real business. No, i do not own it. But i want to.
      In that case I do run a real business. My "job" is to collect leads in financial sectors. Earn a lot and most important is that I am my own boss and I have a lot of free time!
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  • Profile picture of the author visimedia
    I think that's the legal aspect that you're talking about.
    Real business I think will depend on the profit vs the value that you give to your customers, how well you give them value in exchange of their money.
    The more value you give, the more money you make, the bigger the business and from there I think it's getting more "real". That's just how you put the meaning of "real".
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  • Profile picture of the author Jonathan 2.0
    Nope. Just a pretend business.

    ...



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  • Profile picture of the author UnkwnUsr
    Originally Posted by trader909 View Post

    Hi,

    Browsing the forum I see many headless chickens jumping from one business to another. Jumping into "niches" they have no knowledge of and/or running many niche business at the same time. That does seem to fit into the business module of most here.

    So how would you define a real business instead of making some money on the side? To try and help some of these lost souls?

    Maybe I am wrong but here are some of my tips.

    Real business more than like;ly have employees. 1 man business..you are a sole trader. not set in stone, technically you could have a one person business i guess.

    Proper legal set up. LLC or other. Bank accounts, tax accounts, credit lines etc.

    A proper business requires 100% effort. You can't be running several real business at one time I.M.H.O.

    I am not going to say real businesses have offices, profits or are not relying on G. rankings etc. That doesn't fit my definition.

    Can you add?

    Thx
    A business is as real as the money it produces, you don't need employees to be a business. All you really need is a business license and to pay your taxes. Legally that is all that is required.
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    • Profile picture of the author hardraysnight
      Originally Posted by UnkwnUsr View Post

      A business is as real as the money it produces, you don't need employees to be a business. All you really need is a business license and to pay your taxes. Legally that is all that is required.
      morally all that is required is a business licence
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      • Profile picture of the author Justin Says
        Originally Posted by hardraysnight View Post

        morally all that is required is a business licence
        Correct And anyone can just go to the treasury and get a business license, those are easy.

        That's probably the best response I've seen lol.

        A "real business" is an idea that you start putting into action.

        Even if you aren't specifically profiting from it, you are building a business nonetheless even if it's just a stepping stone
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  • Profile picture of the author trader909
    Banned
    banks..???

    Real business I think will depend on the profit vs the value that you give to your customers, how well you give them value in exchange of their money.
    Many real and big businesses run at losses and have huge debts. So i do not think the definition of profits fit.

    A real business like one poster said should be able to run auto-pilot. And i do not think anyone can run more than one real business at one time. Involved in 50+ niche...more likely money makers.
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  • Profile picture of the author ToryBorysewicz
    Banned
    Originally Posted by Jonathan 2.0 View Post

    Nope. Just a pretend business.

    ...




    Hey Jonathan 2.0....me too...tsk tsk
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  • Profile picture of the author Bayo
    Originally Posted by trader909 View Post

    So how would you define a real business instead of making some money on the side? To try and help some of these lost souls?
    In my opinion and based on my experience of stepping out and setting up my own business after only 3 employee roles is this.

    It's that thing you do that provides a product or a service to others in exchange for the rewards or means of exchange you're looking for. It could be registered or not.

    I operated freelance 'businesses' for many years while doing other things but I wouldn't say they were real businesses even though they generated rewards that I was looking for, but remember, this is my definition here and not from some text book.

    I registered my first business (and proceeded to fail 3 times in a row) in the UK in the 90s. But even those businesses are nothing compared to what came after. Similar types of services (not selling products, although my 'product' was my knowledge).

    A lot of what we see on forums aren't real businesses. They're simply people dabbling (and there's nothing wrong with 'dabbling' provided a person doesn't get deluded into thinking that they're running a business).

    A business has to meet some simple criteria both legally and otherwise. But personally, if it's run based on systems, makes me profits and I pay taxes on what I earn from it, then I consider it to be one of my businesses.
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  • Profile picture of the author Cason
    I think the important thing here is do you make a consistent income, not whether you run a "real" business
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  • Profile picture of the author curationsoft
    yes, real business with real product and i enjoy to manage my business
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  • Profile picture of the author Justin Says
    I own more than one business, all with employees in each, however I run things a lot differently than most and my "employees" primarily work for free in all of my businesses except for 2.

    You can say "that's not a business because you aren't paying people"... but it is.

    And as per the definition of what a business is, if someone is running a business by themselves and it's making a substantial amount of profit.. that's a serious business. They just know how to do it without the help/assistance of others.

    I think of it like the pizza shop I worked at a few years back.. I would sometimes be the only one working, I'd take an order, cook the food, wait the table, sometimes leave for a delivery, and would be back to finish waiting the table and wash their dishes.

    If someone can handle all that, I'd call that a business
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  • Profile picture of the author emelef
    A business is anything where you are operating to derive money, whether you make profits or not doesn't matter but you might not be in business long if you don't.

    You need products or a service, which you exchange for money.

    You can be a sole trader. LLC is only a legal setup. You can have multiple businesses even as a sole trader (online technology makes that possible). You don't need employees but you will probably outsource as you expand.

    These are just general things though - there is no 'model', you should think outside the box and for some businesses setting up 100 different niche sites is their model.

    I'm unclear what the real question is or what this thread is really about.

    You can set up a lemonade stand on the street and it will be a business.
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    • Profile picture of the author Justin Says
      Originally Posted by emelef View Post

      A business is anything where you are operating to derive money, whether you make profits or not doesn't matter but you might not be in business long if you don't.

      You need products or a service, which you exchange for money.

      You can be a sole trader. LLC is only a legal setup. You can have multiple businesses even as a sole trader (online technology makes that possible). You don't need employees but you will probably outsource as you expand.

      These are just general things though - there is no 'model', you should think outside the box and for some businesses setting up 100 different niche sites is their model.

      I'm unclear what the real question is or what this thread is really about.

      You can set up a lemonade stand on the street and it will be a business.
      I'd like to add on that it definitely doesn't require a profit (I'm talking about money here) to run a real business.

      Let me ask you this,

      If you could work 2 hours a day and you were able to live at your house for free because of that, wouldn't that be considered a business? I mean.. that 2 hours is paying off your mortgage/rent.

      Same could be said if you worked from businesses specifically for food. Think about how much you (or your friends/family) spend on food each month. It definitely adds up and imagine being able to eat at the finest restaurants with the best possible service for free.

      That right there would be a business too

      I just like to think of it this way because really all we are working for is a trade. We work to survive and we work to play/enjoy life.

      If you could do all of that without making an actual income from it, it's still considered a business
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  • Profile picture of the author datingworld
    No matter whatever it is called whether real business, sole trade, internet marketing or what ever..... as long as it makes me money, I am happy with it.
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  • I'm just only an affiliate but someday I want to make my own business.
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    • Profile picture of the author Justin Says
      Originally Posted by onlinesolutions1985 View Post

      I'm just only an affiliate but someday I want to make my own business.
      Just because you're an affiliate doesn't mean you aren't starting a business

      Think of it this way you're reselling someone elses product and making a commission off of it. The same concept works for grocery stores, retailers, and nearly every big business.

      In many cases my opinion on businesses changes because theres just so many different models out there. But one that is very true is that you take things into your own hands and decide what you do with it (ie what you sell)
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      My name is Justin Lewis, with my Knoxville SEO company, Business Optimizer, I've been in business for 10 years online with multiple six figure years, here are the tools that have helped me the most: Increase your reviews with this free Review Handout

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