I asked this question on Warrior Forum years ago and it still get’s varied replies. While the Small Business Association says it takes 5 to 7 years for a business to see a profit, even they can’t judge what you consider to be successful. Why?
Because your level of success totally depends on what your goals are for your business, if you meet those goals then you were successful. But only a few people responded with this common sense answer, the majority responded with an actual figure.
But equating your success to an actual number is bad. When you don’t even get close to the number you hoped for you may give up because you think your goal is un-achievable. But none the less, the amount of million dollar responses I received totally caught me off guard.
Many of those who responded had short time frames for achieving success. Some of them even said they could easily achieve these astronomical eight figure incomes in 6 months. Now, I will admit that a few people have achieved these results but they were rare exception to the norm.
Jeff Bezos for example, had a 5 year business plan and was astounded when it only took him 3. (His case was rarity in the world of business.)
If you peek behind the curtains of any business claiming quick success overnight, you find out that most of their “Overnight Success” has been grossly exaggerated.
Facebook didn’t just pop up out of nowhere to be the Mega social media giant it is today , it took Mark Zuckerberg and his team over 7 years to become an Overnight Success.
Even Seth Godin, one of Internet Marketing’s most highly successful entrepreneurs, said: “it takes about six years of HARD WORK to become an overnight success.” because it’s true.
Most of the responses I received to my question on Warrior Forum were just positive thinking, or in some cases pure fantasy, instead of a thought out plan.
According to most of the relevant data about online businesses it would appear that the SBA was actually correct in their forecast. It does take most online businesses 5 to 7 years to achieve their planned level of success.
Would you agree?