Carson Posted June 5, 2021 Share Posted June 5, 2021 How long would you say it could take to start a business from scratch? Basically out of nowhere. I would love to start my own business, but I don't think I have near enough of what I need to make that actually happen. I'm trying to start my own business soon, and I know for a fact it's not going to be easy and it's going to take a while. But, on average, how often do you think people succeed? 1 Quote Link to comment Share on other sites More sharing options...
James Posted June 5, 2021 Share Posted June 5, 2021 This depends on a lot of different factors. I would say your plan for your business should be about 3 - 5 years before you can say you tried everything to make it work. I have had concepts that hit cash flow neutral after 6 months and I have had others take 4 years. As long as you understand why you are doing what you are doing. How you plan on doing it and what to expect along the way you will have the best chance of success. About 20% of small businesses will fail by the end of year 1. About 50% of small businesses will fail by the end of year 5. After 10 years about a third of the business have survived. It just takes time. You have to be willing to work without reward for a very long time. On the other side of all that suffering though is success. Do not let the numbers scare you away from trying. The people that give it the most effort will make it work. We just have to be mentally strong. 1 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted June 10, 2021 Share Posted June 10, 2021 I have heard of people starting up an online business and having it be successful in 6 months. I have also heard of it taking 6 years. I think the average time spent would be around 3 years before you can say it is established enough and earning enough stable profit. 1 Quote Link to comment Share on other sites More sharing options...
Sophia Posted June 13, 2021 Share Posted June 13, 2021 I think the 3 to 5 year thing is reasonable. A lot of very large businesses started out very, very tiny and were that way for several years before they really took off. Some even went bankrupt a few times before they got it right! 1 Quote Link to comment Share on other sites More sharing options...
Lana Posted June 13, 2021 Share Posted June 13, 2021 I honestly don't know the answer. I don't think you really can know the answer, as it depends on the business and what you want to do. It could take a few years to 10 years to get things going. I think if you know what you're doing, you can make it work at lot quicker. 1 Quote Link to comment Share on other sites More sharing options...
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