The failure rate depends on the business. I remember reading that the failure rate for restaurants is something like 75%, for some meaning of failure. The failure for hobbies turned into retail stores is probably similar. A home based business, particularly information based is a whole different animal. The supplemental income can be quite nice without the drag of retail space and employees. Just think of how many employees a restaurant takes.
Losing money in the Schedule C sense is not so bad. You can be making a nice supplemental income but losing money as far as the tax man is concerned when you deduct home office, telecommunications, autos, and office equipment.
And you don't care when a web site "fails", because you probably have one or five on the back burner.
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The failure rate depends on the business. I remember reading that the failure rate for restaurants is something like 75%, for some meaning of failure. The failure for hobbies turned into retail stores is probably similar. A home based business, particularly information based is a whole different animal. The supplemental income can be quite nice without the drag of retail space and employees. Just think of how many employees a restaurant takes.
Losing money in the Schedule C sense is not so bad. You can be making a nice supplemental income but losing money as far as the tax man is concerned when you deduct home office, telecommunications, autos, and office equipment.
And you don't care when a web site "fails", because you probably have one or five on the back burner.