How Long Will Your House Biz Business Be Around?
Commonly somebody will ask me if I have actually become aware of a specific company, or if I know how long they have actually been around. However the most intriguing concern that I am in some cases asked is, “how long do you think they ‘will’ be around? “.
That last one is not just an interesting concern, however it’s one that really nobody can potentially have an answer to.
Just in the weeks prior to this post being composed 2 of the World’s biggest corporations, General Motors Corporation, and Ford Motor Business, had their credit scores downgraded to scrap bond status by the industry’s credit and financial investment score services such as Level & Poor’s and Fitch Scores. And of course many individuals will remember Chrysler Corporation’s brush with near bankruptcy in the 1980s.
It is just coincidence that two of the largest car manufacturers were in the news when I wrote this article, but certainly many corporate giants in many markets have dealt with tough times, including Kmart, Sears, and most of the significant airlines.
Excel Communications became one of the most successful companies in the home based business industry, and in American company history, only to later end in bankruptcy due to corporate greed and mismanagement.
Regardless of examples like those above it is certainly not all doom and grief. In truth, with the exception of Excel and a few of the airlines, such as TWA, each of the business discussed above is still in business.
I began with the examples previously to show that no business is immune from ups and downs, despite how large or how well developed. However that definitely does not mean that you can’t stack the probabilities in your favor when thinking about home business opportunities. In truth, some of the requirements that you can utilize to make your assessment are incredibly simple. But many individuals still opt to ignore excellent guidance when it comes to making such decisions.
We could enter into more in-depth factors to consider of such things as company management, the lineup of services and products, and so on (all important aspects). Nevertheless, not only can it be hard to evaluate such things, but even those and lots of other factors aren’t as crucial as the test of time.
Simply choosing a company that has been around for a while (with “a while” being a minimum of 2 to 3 years and preferably 5 or more) will immediately stack the chances in your favor as opposed to people who decide to go with dangerous start-ups and pre-launches.
Most “brand-new” businesses fail, and that’s a truth that is now so well recorded that it may as well be cast in stone. And, once more, we’re not simply discussing the home business market. It’s a statistic that applies to businesses of practically every type. Nevertheless, when a business is no longer, “brand-new,” after it has proven that it can make it through beyond those very first vital months and years, its chances for ongoing success simply remain to enhance gradually.
There can be no assurance that even a business that has been around for a long period of time will not experience bumps in the road, or perhaps significant issues, however history clearly shows that the longer the business has been in business, the longer they are most likely to be able to remain to make it through and achieve success.
Obviously, there are some who enjoy the potential benefits, and significantly much greater threats, associated with brand-new business. Nevertheless, in truth, the majority of people who end up being involved with such companies only doing this due to the fact that they aren’t knowledgeable about the stats concerning company success and failure. And after that also many people end up being so wrapped up in the buzz, emotion, and sometimes even greed (of guaranteed escalating revenues due to being in on “the ground floor”) frequently related to new companies that they throw all caution aside and jump in anyhow.
You do not have to end up being as well-informed as a company analyst to improve your possibilities of success tremendously just by following the one simple guideline of choosing a company that has been around for a while.
Can you or anybody else guarantee that any particular business will be around 5, 10, or Twenty Years from now? Absolutely not … Can you stack the odds in your favor and make it far more most likely that your company will still be around 5, 10, or Twenty Years from now simply by preventing start-ups and new business? Definitely the response is yes!
The option is yours.